12/06/2019
*GST New Return Advisory - 11.06.2019*
*CBIC has issued a press release* stating that new returns will be made mandatory in phased manner as under:
*A. For Taxpayers with Turnover > INR 5 crores:*
1. Return in *Form GSTR-3B* is required *to be filed till Nov, 2019*. The *First New Return* in *Form GST RET-1* will be filed *for the monthly tax period ending in Dec, 2019* which will due *in January, 2020*.
2. Return in *Form GSTR-1* is required to be *filed till Sept, 2019* and then the same shall be *replaced* by a New Return *GST ANX-1* for the months ending *Oct, 2019 and Nov, 2019*.
_*Note - Dec, 2019 on-wards*, *GSTR-3B and GSTR-1* will be combined in *New Return GST RET-1* and the taxpayer is only required to file the same._
*B. For Taxpayers with Turnover < = INR 5 crores:*
1. Return in *GSTR-3B* and *GSTR-1* is required *to be filed till Sept, 2019*. The *First New Return* in *GST RET-1* will be filed *for the quarterly tax period ending in Dec, 2019* which will due *in January, 2020*.
_*Note - However, Taxpayer will start paying monthly* tax by filing *GST PMT-08* from tax period of Oct, 2019 on-wards_ as the payment is to be discharged on monthly basis.
*SHORT NOTES:*
*Large Taxpayers* (Turnover > INR 5 crores)
# # *GSTR 3B* (Till Nov, 2019), *GSTR-1* (Till Sep, 2019), *GST ANX-1* (Oct, 2019 and Nov, 2019) and *then from Dec, 2019, Only GST RET-1 shall be filed.*
*Small Taxpayers* (Turnover < = INR 5 crores)
# # *GSTR-3B and GSTR-1* (Till Sep, 2019), *GST PMT-08* (every month w.e.f. Oct, 2019 for payment of tax) and *GST RET-1* w.e.f. *quarter ended Dec, 2019*.
_*Note - From January, 2020, GSTR-3B and GSTR-1 will be completely replaced with GST RET-1 and GST PMT-08.*_
