New Normal GST Return Form (RET-1): Format and Filing Procedure

GST Return Complete Details

Lately, GST Council announced that there will be New GST Return Forms that will be applicable from 1st July 2019. These New GST Return Forms includes Normal (RET-1), Sahaj and Sugam. Moreover, to give a fair idea about these new GST Return forms they are now available on the GSTN. In this article, we will discuss the New Normal GST Return Form (RET-1), GST return sample, GST return format, GST forms.

New Normal GST Return (RET 1), Return Format and Filling Procedure

The New Normal GST Return (RET 1) includes seven different parts. Let us see the format and filing procedure of each part.

Profile Updation

This section deals with options for return periodicity monthly or quarterly. Moreover, the taxpayer can choose the type of quarterly return Sahaj, Sugam or Normal they want to file.

Part A: In this, the taxpayer needs to answer a certain question regarding retaining the option given in the previous tax period.

Part B: In this, he needs to answer questions relating to the supply type, supply to SEZ, exports, etc.

Note: Read the instruction given in this form carefully before furnishing.

The Format of GST ANX-1 Form

This form deals with all the inward and outward supplies including imports attraction and has four-part

In the first two parts, the taxpayer has to furnish his GSTIN, Registered person name, business name, ARN and date of filing

The third part he needs to furnish the details of the outward supplies, inward supplies and imports attracting reverse charge during the particular tax period

The fourth table he needs to fill all the details regarding the supplies made by e-com operators that are liable to collect tax.

The Format of GST ANX-2 Form

This section includes all the auto-drafted inward supplies and consists of 5 sections.

The taxpayer has to furnish the GSTIN in the first Part and the second part will be auto-populated.

In the third part, he has to furnish the details regarding the inward supplies received from the registered person, imports and SEZ unit on BOE.

The fourth Part of this form deals with Input Tax Credit summary

The last part of this form shows eligible credit received from ISD.

GST RET 1 Format

This is a Normal GST Return that can be filed by the taxpayer on the monthly or quarterly basis. All the details such as outward and inward supplies attracting a reverse charge, CDN issued, interest and late fees, ITC, refund claim etc. will be furnished in this GST Return form.

Form GST ANX-1A

GST ANX-1A is an amendment form for the filed GST ANX-1. In order to make amendment in the details of outward, inward and import supplies, the taxpayer needs to answer some basic question.

Form GST RET-1A

GST RET-1A is a form that can be filed by the taxpayer to make amendment in form GST RET-1. In other words, through this form, a taxpayer can amend his normal monthly or quarterly return. So to make necessary changes he needs to provide an amendment to the outwards supplies and inward supplies summary attracting a reverse charge, ITC, interest and tax payment details.

Form GST PMT-08

GST PMT-08 is filed by the taxpayer when he wants to pay self-assessed tax. This form includes details of self-assessed tax liability and ITC availed summary and payment of tax.