In the 27th GST Council Meeting, the government introduced two new returns called GST Sahaj return and GST Sugam return to ease GST compliance for small taxpayers. They will be part of the simplified filing system which will be implemented in the FY 2019-20. Read this comprehensive guide by H&R Block to know more about GSTR Sugam.
[Know More: GSTR Sahaj]
Sugam return, also known as GST RET-3 is a simplified return for small taxpayers making both B2B as well as B2C supplies. It was initially announced that filing of this form would begin in April of FY 2019-20. But, the government has deferred it until further notice.
GST RET-3 is meant for small taxpayers. You can file Sugam return if you satisfy the following conditions:
GST RET-3 return will have to be filed quarterly. However, GST must be paid on a monthly basis by the filers.
Broadly, you can divide this form into two parts:
This is the first part of annexure. This section will be auto-populated. It will display your basic details like GSTIN, legal name, trade name, etc.
Here, you will be required to provide details of supplies made to registered persons, consumers and un-registered persons (supplies attracting reverse charge) in terms of taxable value of inward and outward supplies and types of GST and cess paid.
GSTR Sugam can be broken down into five parts:
This section is auto-populated and contains the same basic details as reflected in the above-mentioned annexure.
This section is also auto-populated based on your inputs in the “Annexure of Supplies”.
This section is also auto-populated and displays the following information:
In this part of the form, you must enter the details of any interest or late return filing fee that you need to pay for the concerned period. The new filing system will automatically calculate and report any applicable interest and late filing fee. However, if you are liable to pay any other interest, you must report it manually. Tax paid during the first two months of the quarter will be adjusted against the total liability of the quarter.
You must provide the details of all the types of GST payments and cess payments made for the concerned period in this part of the form.
This is the last section of the form where you shall verify that you have provided the correct information in the form by signing below the given declaration statement.
The new return filing system will make the process of claiming ITC easy for you. It will allow the supplier to continuously upload the invoices which will auto-populate in his main return. These invoices will be continuously visible to the recipient. This will make the process of claiming ITC easier for the taxpayers.
You will be required to file GST Sugam quarterly.
Currently, the facility to file GST Sahaj return online is not available. However, the government will soon launch the facility to file it online on the GST common portal, post which you can also get it filed by H&R Block. Stay tuned with us and we will notify you once the platform to file GST RET-3 is ready.
|Criteria||Sahaj Return||Sugam Return||Quarterly Return|
|Applicability||Small taxpayers making B2C supplies||Small taxpayers making B2B as well as B2C supplies||Small taxpayers making exports, imports and supplies to consumers, businesses and SEZs|
|Nature||Pre-determined profile||Pre-determined profile||Not a pre-determined profile but will give the option to create one|
By leveraging GSTR Sahaj, the new return filing system will simplify the compliance for small taxpayers. It is still unclear when the new system will be rolled out. The best way to stay updated about this any other GST compliance related matter is to stay tuned with H&R Block.
After the implementation of GST, the tax compliance requirements have changed drastically. As a result, several businesses find it challenging to focus on their business while trying to be GST compliant. This is where we come into the picture. Our team of in-house GST experts can help you meet all the GST compliance requirements right from registration and filing of returns to handling notices.