New GST Returns – Overview

The GST Council in their 28th meeting on 21st July, 2018 reviewed a
presentation by Shri Manish Kumar Sinha, Joint Secretary (TRU-II), CBIC on
the Simplification of GST Returns. The Council approved the key features
and new GST return format.

Key features of new GST forms

• Single Quarterly Return for Tax Payers with annual turnover below Rs. 5 Crore
• Single Monthly Return for other Tax Payers
• Monthly payment of taxes by all Tax Payers.
• Input Tax Credit (ITC) in New GST Returns Claim only against invoices uploaded in the
  Portal by the Supplier

Similarities between new returns under GST and Old GST forms

• Upload of Invoice Level details of Outward Supply / Sales to be
  uploaded in Annexure FORM GST ANX 1 is similar to
  existing FORM GSTR 1.

Differences between the new GST return filing system and old GST returns

• Recipient cannot upload Invoices in their FORM GSTR 2.
• In the present system, monthly payment of taxes is tied to filing of
  return FORM GSTR 3B. With simplified returns, payment
  of taxes is not accompanied by a return.

The following articles provide a detailed look into various aspects of the New GST Return Forms.

• Overview of the simplified GST returns
• Detailed explanation of Form GST RET 1
• Compare new GST forms vs old GST forms
• Flow of Invoices between Supplier and Recipient in new GST forms
• Input Tax Credit in New GST Return
• Transition to the new GST Returns

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