Proposed GST Returns Formats

In the process of simplifying the GST regime for smaller businesses, the GST Council has proposed new formats of quarterly returns. Following are some brief details regarding the new forms: Businesses having aggregate turnover up to Rupees 5 Crore during the preceding financial year can opt to file quarterly return in the f690ollowing forms: Quarterly (Normal) – Form GST RET-1 Sahaj – Form GST RET-2 Sugam – Form GST RET-3 The taxpayers opting to file a quarterly return can choose to file any of the quarterly return namely – Sahaj, Sugam or Quarterly (Normal). Now let’s understand the working...

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