SAHAJ GST RET 2 Explained
As the name SAHAJ implies ease of filing, the SAHAJ form is a single page return format which is applicable to small taxpayers having a turnover in the preceding financial year up to five Crores. GST RET-2 SAHAJ has to be filed quarterly and is applicable only to suppliers having B2C supplies and Domestic Inwards supplies covered under reverse charge mechanism. Even though the return filing period is quarterly the tax payment has to be made monthly.
Who can opt for SAHAJ GST RET-2 ?
Any assesse having a turnover of up to five crores and having only B2C supplies or Domestic Inwards supplies covered under reverse charge mechanism can opt for this quarterly return. Assesses having B2B supplies, Exports, Deemed Exports or sales through e-commerce vendors cannot opt for this form.
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Frequently Asked Questions?
- Can I switch over to SUGAM (GST RET 3) ?
Yes, taxpayers opting for GST RET 2 can opt to switch over to SUGAM.
- Can I Switchover to NORMAL (GST RET 1)?
Yes, taxpayers opting for GST RET 2 can opt to switch over to GST RET 1.
- How many times can I switch over to NORMAL or SUGAM in an FY ?
The Taxpayer can switchover more than once in a financial year, during the beginning of any quarter.
- Can I claim ITC on missing invoices?
No assesses opting for GST RET 2 cannot claim ITC on missing invoices.
- Can I file GST RET 2 Monthly?
No GST RET 2 is a quarterly form and cannot be filed monthly.
- This is my first year how will I calculate my previous year turnover?
Even if you are filing for the first time you can opt for RET 2 on a self-declaration basis.