Single GST return form from January 2020
24 June 2019
The GST Council at its meeting on Friday, the first chaired by the new finance minister, Nirmala Sitaraman, decided to introduce the single return filing system for all businesses beginning 1 January 2020. The GST Council also extended the date for filing annual returns under the GST by two months to 30 August.
Between July 2019 and September 2019, the new return system (FORM GST ANX-1 and FORM GST ANX-2 only) will be made available for trial for taxpayers. Taxpayers may continue to file FORM GSTR-1 and FORM GSTR-3B as at present;
From October 2019 onwards, FORM GST ANX-1 will be made compulsory. Large taxpayers (having aggregate turnover of more than Rs5 crore in previous year) have to file FORM GST ANX-1 on monthly basis whereas small taxpayers may file first FORM GST ANX-1 for the October-December 2019 quarter in January 2020.
For October and November 2019, large taxpayers will continue to file FORM GSTR-3B on monthly basis and will file first FORM GST RET-01 for December 2019 in January, 2020.
From October 2019, small taxpayers will stop filing FORM GSTR-3B and start filing FORM GST PMT-08. They will file their first FORM GST-RET-01 for the October-December 2019 quarter in January 2020.
From January 2020 onwards, FORM GSTR-3B will be completely phased out
To provide sufficient time to the trade and industry to furnish the declaration in FORM GST ITC-04, relating to job work, the due date for furnishing the said form for the period July 2017 to June 2019 has been extended till 31 August 2019
The ST Council will carry out certain amendments in the GST laws to implement the decisions taken in earlier meetings
The Council, which is headed by the union finance minister and comprises representatives of all states and UTs, also approved an electronic invoicing system and e-ticketing in multiplexes.
Briefing reporters after the meeting on Friday, revenue secretary A B Pandey said the proposal to reduce GST rate on electric vehicles to 5 per cent from the current 12 per cent and that on electric charger to 12 per cent from 18 per cent has been sent to the fitment committee for fine tuning.
Pandey said it has been decided to allow the use of Aadhaar by businesses to register with GST-Network.
The GST Council, at its meeting, decided to extend the tenure of the anti-profiteering authority by two years, ie till 30 November 2021, and also approved imposing a penalty of up to 10 per cent on entities not passing on benefits of GST rate cuts to consumers.
The NAA, which was set up soon after the roll-out of the GST on 1 July 2017, was originally set up to deal with consumer complaints against companies not passing on GST rate cut benefits for two years.
The NAA set upon 30 November 2017, after has passed 67 orders in various cases and since complaints continue to flow, it was decided to give the NAA an extended term.
The Council also finalised location of State and the Area Benches for the Goods and Services Tax Appellate Tribunal (GSTAT) for various states and union territories with legislature. It has been decided to have a common State Bench for the states of Sikkim, Nagaland, Manipur and Arunachal Pradesh.