New GST Return Forms | GSTR-3B to phase out | EZTax.in

Several important decisions were made in 35th GST Council Meeting held on Jun 21st 2019 in the national capital to ease of GST Compliance.

New GST Return Forms | GSTR-3B to phase out | EZTax.in
  1. Between July, 2019 to September, 2019, the new return system (FORM GST ANX-1 & FORM GST ANX-2 only) to be available for trial for taxpayers. Taxpayers to continue to file FORM GSTR-1 & FORM GSTR-3B as at present;
  2. From October, 2019 onwards, FORM GST ANX-1 to be made compulsory. Large taxpayers (having aggregate turnover of more than Rs. 5 crores in previous year) to file FORM GST ANX-1 on monthly basis whereas small taxpayers to file first FORM GST ANX-1 for the quarter October, 2019 to December, 2019 in January, 2020;
  3. For October and November, 2019, large taxpayers to continue to file FORM GSTR-3B on monthly basis and will file first FORM GST RET-01for December, 2019 in January, 2020. It may be noted that invoices etc. can be uploaded in FORM GST ANX-1 on a continuous basis both by large and small taxpayers from October, 2019 onwards. FORM GST ANX-2 may be viewed simultaneously during this period but no action shall be allowed on such FORM GST ANX-2;
  4. From October, 2019, small taxpayers to stop filing FORM GSTR-3B and to start filing FORM GST PMT-08. They will file their first FORM GST-RET-01 for the quarter October, 2019 to December, 2019 in January, 2020;
  5. From January, 2020 onwards, FORM GSTR-3B to be completely phased out

What is GST PMT-08 Form ?

The Form is used for the Payment of Self-assessed Tax consists of following components other than the basic information about the tax paying entity information.

  1. Liability to pay Tax (other than reverse charge)
  2. Liability to pay Tax (reverse charge)
  3. Input Tax credit availed