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New GST Return form to be applicable from Jan 2020

YB WEB DESK. Dated: 6/12/2019 1:16:50 PM

New Delhi, June 11 The Government announced on Tuesday that a new GST return system will be introduced to facilitate taxpayers and from January 2020 onwards, all taxpayers will be filing Form GST RET-01. In order to ease transition to the new return system, a transition plan has been worked out while Form GSTR-3B will be completely phased out. In May 2019 a prototype of the offline tool has already been shared on the common portal to give the look and feel of the tool to the users. The look and feel of the offline tool would be same as that of the online portal. In a statement, the Finance Ministry said there are three main components to the new return– one main return (Form GST RET-1) and two annexures (Form GST ANX-2). From July, 2019, users would be able to upload invoices using the Form GST ANX-1 offline tool on trial basis for familiarisation.