The tax department on Monday put up in public domain draft GST returns forms — Sahaj and Sugam — for seeking comments from stakeholders. Besides, taxpayers who have no purchases, no output tax liability and no input tax credit to avail in any quarter of the financial year shall file one ‘Nil’ return for the entire quarter.
Small taxpayers would be those who have a turnover up to Rs 5 crore in the last financial year and can file quarterly return with monthly payment of taxes on self-declaration basis.
The return form ‘Sahaj’ is for businesses which make supplies to only consumers (B2C). It includes details of outward supplies and inward supplies attracting reverse charge as well as a summary of inward supplies for claiming input tax credit (ITC). Also, such B2C businesses will have to show HSN wise summary of supplies and interest and late fee liability details along with payment of tax and verification.
Besides, businesses making supplies to both businesses (B2B) and consumers (B2C) have to file returns form ‘Sugam’. It includes a summary of supplies made and tax liability, a summary of inward supplies for claiming ITC, along with details of interest due and tax payment.
Such businesses will have to file annexure to the return form giving details of outward supplies made to registered persons, consumers and un-registered persons (B2C and B2B) and inwards supplies attracting a reverse charge. Also HSN wise summary of supplies too has to be filled.
The forms, which will replace the current GSTR-3B and GSTR-1, are expected to be launched by 1 January, 2019.
The returns form was cleared by the Goods and Services Tax Council in its last meeting on 21 July.