The Goods and Services Tax Network (GSTN) on Friday released two forms-- ANX-1 and ANX-2--for simplified online returns.

A taxpayer will have to file FORM GST RET-1 (normal), or FORM GST RET-2 (Sahaj), or GST RET-3 (Sugam) returns. Annexure of supplies (GST ANX-1) and annexure of inward supplies (GST ANX-2) will also have to be uploaded on the tax portal as part of these returns.

GSTN had earlier released the offline tools of these forms.

With the release of the online version of GST ANX-1 and GST ANX-2, the supplier taxpayers have now been provided with a facility to fill in details of business-to-business (B2B), business-to-consumer (B2C) and details of supplies attracting reverse charge in their online.

“The online version will provide working on real environment, and we would appeal taxpayers and tax consultants to use the online features and share feedback to help us make changes/ enhancements wherever required," said Prakash Kumar, chief executive officer of GSTN.

The new simplified returns will replace the existing forms by January 2020.

Published On : 14-09-2019

Source : Business Standard