Implementation of new GST Return formats was finalized in the 31st GST Council meeting and earlier it was decided to implement the same from April 2019 onward on a trial basis and from July 2019 onwards on a compulsory basis. However, New GST Return implementation could not be made in such a manner.
New GST ReturnImplementation
Ministry of Finance has shared a transitional plan for implementation of such new GST return formats in a phased manner vide press release dated 11th June 2019 which is as follows:
Month
Phases of New GST Return format implementation
May, 2019
A prototype of the offline tool of the new return format has been shared which looks the same as the proposed online portal. The new return will have 3 components – Main Return: Form GST RET-1 and two annexures (GST ANX-1 and GST ANX-2).
July, 2019
Uploading of invoices using GST ANX-1 offline tool will start on trial basis. Users will be able to view and download inward supply of invoices using GST ANX-2 offline tool. Summary of inward supply will also be available for view on online portal.
August, 2019
Facility to import purchase register in offline tool and matching of same with downloaded inward supply invoices will also be available to trace mismatches.
July–September, 2019
New GST return format in ANX-1 and ANX-2 will be available on trial basis. Such trial will have no impact on tax liability and tax credit of taxpayers. Taxpayers will continue to file GSTR-3B and GSTR-1 in the same manner.
October–December, 2019
Large Taxpayers:
1. GST ANX-1 shall be made compulsory from October 2019.
2. GSTR-1 will be replaced by GST ANX-1.
3. GST ANX-1 will be filed monthly starting October 2019.
4. GSTR-3B will continue to be filed for October and November 2019.
5. GST RET-01 becomes compulsory from December 2019, due by 20th January 2020.
Small Taxpayers:
1. GST ANX-1 to be filed quarterly for Oct–Dec 2019 by January 2020.
2. FORM GSTR-3B discontinued from October 2019, replaced by GST PMT-8.
3. GST RET-01 for Oct–Dec 2019 due by 20th January 2020.
Common Points:
1. Invoices can be uploaded continuously in GST ANX-1.
2. GST ANX-2 viewable from October 2019, but no actions allowed.
January, 2020
All taxpayers are required to file GST RET-01. GSTR-3B will be completely phased out.
Transition plan can be understand with the help of below chart.
