GST Sahaj return – FORM GST RET-2
Hello, in this post we will discuss the GST Sahaj return form with the format and explanation.
Recently, the GST council offered the Sahaj GST RET-2 (Return) Form for taxpayers who have only B2C outward supplies. It is a quarterly return.
Format of GST Sahaj return form
There are 7 parts in this form. They include:
- Part-1 Profile updation
- Part-2 FORM GST ANX-1
- Part-3 FORM GST ANX-2
- Part-4 FORM GST RET-2
- Part-5 FORM GST ANX-1A
- Part-6 FORM GST RET-2A
- Part-7 FORM GST PMT-08
Part-1 Profile updation
Intimation of option for return periodicity and type of quarterly return. In this part, you need to answer with Yes or No regarding the turnover, choosing the quarterly return, etc.
Part-2 GST FORM ANX-1
Questionnaire for uploading information in FORM GST ANX-1 – In this questionnaire Part-A, you will have brief questions about retaining the option given in the previous tax period. In Part-B the questions will be regarding supplies made and received.
In this part, fill your GSTIN number, trade name, ARN number, and date of filing.
Next, the taxpayers have to give the details of outward and inward supplies attracting a reverse charge.
Part-3 FORM GST ANX-2
Here, in this part, the details of the taxpayer have to be filled.
In this part, the taxpayer has to provide the details of Inward supplies received from a registered person.
Here, give the summary of Input tax credit involved.
Part-4 FORM GST RET-2
In this section, provide a summary of outward and inward supplies attracting a reverse charge and tax liability.
Here, give the summary of inward supplies for claiming an input tax credit or ITC.
In this section provide the details of reversals of credit.
Next, provide the amount of TDS and TCS credit received in electronic cash ledger. Also the details of Interest and late fee liability details.
Here, give the details of tax payment and refund claimed from electronic cash ledger.
Finally, verify that the information given is true and correct with your signature, Place, and date.
Part-5 FORM GST ANX-1A
This part is all about the amendment to details of outward and inward supplies which attracts a reverse charge.
Part-6 FORM GST RET-2A
Here, we will see about Form GST RET-2A.
This is an amendment to a summary of outward supplies inward supplies attracting reverse charge and tax liability.
Here, fill the details of the amendment to the summary of inward supplies for claiming ITC.
Fill Interest and late fee details here.
Next, Tax payment details like tax payable, tax already paid if any, Paid through ITC, etc.
Lastly, verify the details.
Part-7 FORM GST PMT-08
In this part, provide a summary of self-assessed liability and input tax credit availed.
Enter the tax details.
Finally, verify all your details whether it is true and correct and sign it.
This comes to an end of this post.
Source: GST Updates