GST SUGAM RETURN MEANING, APPLICABILITY AND FORMAT

GST Sugam Return

GST council has introduced a simple GST return to be called GST Sugam. This return is made for small tax payers having turnover below Rs. 5 crore. It is expected that almost 95% of tax payers will be covered under this easy and simple return.

What is meaning of GST Sugam Return?

Sugam is a hindi word which means simple and effortless. सुगम रिटर्न जो की GST council द्वारा तय किया गया ऐक अत्यंत ही सीधा और सरल कर विवरण दस्तावेज़ होगा। फ़िलहाल इस तय दस्तावेज़ का प्रारूप तय नही हुआ है लेकीन जल्द ही ये आपके सामने होगा। तो फ़िलहाल हम ये कह सकते है की GST सुगम कर विवरण दस्तावेज़ शायद आपको और आपके accountant को कुछ आराम दिलाएगा GST के अत्यंत मुश्किल प्रारूपों से। साइट से जुड़े रहे ज़्यादा जानकारी के लिए।

GST Sugam return means a simple return applicable to small tax payers. Tax payers will have option to either select monthly option or quarterly option to file GST return. GST Sugam is a quarterly return.

What is difference between GST Sugam and normal return?

Normal GST return will have more information and will be required to be filed monthly whereas GST Sugam is a quarterly return and you need to file it on quarterly basis. GST Sugam will be a simple return to be filed quarterly.

What is the due date of filing GST Sugam return?

These returns are approved by GST council and no more information is available right now. There are various activities pending to be completed before due date can be announced. Implementation date of GST Sugam is not yet announced.

But it is expected that due date will 20th of following month after quarter.

What is the format of GST Sugam return?

We do not have format of GST Sugam quarterly return as the format is not yet available. GST council has to approve format of GST Sugam. We are awaiting confirmation and approval of format by GST council, once the format is approved we will share the complete details here.

GST Sugam format is expected to be simple as the objective of introducing this return is to make return filing an easy task.

Who will need to file GST Sugam return?

Tax payers with turnover less than 5 crores will have option to file GST Sugam on quarterly basis. Only tax payers with turnover less than Rs. 5 Crore will have option to file quarterly return and Sugam is quarterly return.

So, it is clear that SUGAM will be applicable to only those tax payers who select to file quarterly return.

Further GST Sugam form will be applicable to traders making B2B (Business to Business) and B2C (Business to Consumer) supplies.

Late filing fee if Sugam is not filed on or before due date and penalty?

Late filing fee of Rs. 100 day will be applicable, however as of now late filing fee is Rs. 50 per day and it is expected that Rs. 50 will continue till further notification.

GST law is still struggling to convince tax payers, so we can believe that late filing fee will be kept law in initial launch face.

Tax payers filing GST Sugam should pay tax monthly or quarterly?

Tax payers need to pay tax on monthly basis, however return will be filed on quarterly basis. A simple monthly return will be provided to pay tax and complete details will be furnished in full fledged quarterly return. However note that quarterly return option is available only to tax payers with turnover less than 5 crores in a year.

Difference between GST Sugam and GST Sahaj returns

Difference between GST Sahaj and GST Sugam may be that one is for sales and one for purchase. However yet the formats are not provided, so it is not possible to differentiate between GST sahaj and GST sugam returns.

However it is expected that both will have different purpose. Both returns are supposed to be simple and easy to file by tax payers.