New and Simplified GST Return formats

Understand New and Simplified GST Returns formats quickly effective from 01.07.2019 Goods and Services Tax (GST) is a technology oriented tax with a focus to plug revenue leakages. There had been major changes in the procedures like returns, assessments amongst others since the new law had been enforced. In the process of simplifying the procedures for industry at large, the concept of new returns is commencing with effect from 01.04.2019. For the first three months, these returns forms would be filed on trial run basis and if found successful, the new return formats will be made mandatory from 01.07.2019. Here is the brief of the new returns: Quick understanding of New GST Return formats effective from 01.07.2019 Simplified Return Forms Normal Return (RET-1) Sahaj (RET-2) Sugam (RET-2) Who needs to file Person having any type of transaction like exports, supply to SEZ,  E-commerce  etc. Person having only B2C transactio...