Page 24 - GSTL_14th May 2020_Vol 36_Part 2

J24 GST LAW TIMES [ Vol. 36
GSTR-3B, RET 1/2/3 person needs to ascertain their aggregate
would be an option for turnover of FY 2019-2020 by 30th April,
each taxpayer. 2020 for selecting the type of new GST
return to be filed. If the aggregate turn-
over (at PAN level) is less than 5 crores,
there is an option to file new GST returns
on a quarterly basis. However, in such
case, the payment shall be made on a
monthly basis in FORM GST PMT-08.
Comment : PMT-08 instructions still re-
flects a point whereby credit in case of
quarterly filers will be available in last
month of the quarter needs to be amended
else quarterly option would be of no use.
Also looking forward to unmatched cred-
its and mandate for non-availment of
credits of those suppliers who has not
filed returns for two consecutive periods
would drive monthly option in wake of
early detection of such suppliers.

Particulars Abbreviations
ANX-1 Outward supply return.
B2C Business to customer.
B2B Business to business.
DE Deemed export.
REV Reverse charge.

EXP Export.
SEZ Special Economic Zone.
IMPS Import of services.
IMPG Import of goods.
IMPGSEZ Import of goods from SEZ.
ECOM E-commerce.
ANX-2 Inward supply return.
RET-1/2/3 Normal/quarterly return showing summary of outward tax,
inward tax and payment details.

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GST LAW TIMES  14th May 2020  24