GST RET 1 Normal Returns Explained
This form is designed to be applicable for suppliers having outward supplies not covered in SAHAJ & SUGAM forms. This it covers supplies such as B2B, B2C, Export, Deemed Exports, and even supplies through e-commerce vendors.
Who can opt for GST RET-1 ?
Assesses having a turnover of over five Crores and any type of supplies including B2B, B2C, Exports, Deemed Exports and Selling through e-commerce vendors can opt for this form. Taxpayers having a turnover of less than the specified limit can opt for GST RET 1 as well. Suppliers having a turnover of five crores or less can opt for a monthly or quarterly mode of filing whereas suppliers having a turnover of above five