What is new gst return

New Return formats are more towards two way free flow or matching of tax credit .

Way of filing the returns and paying taxes differs between the two that's all

In the new return system GST ANX-1 should be filled for supply and declaring tax liability included ,imports are also reported in GST ANX-1 and ITC autopopulate in GST RET-1.In the new return system taxpayers are categorised in to large taxpayer ( Whose annual turnover is more than ₹5 crore) and small taxpayers ( Whose annual turnover.is upto ₹5 crore).A large taxpayers to file monthly GST ANX-1,where as small taxpayers can file his GST ANX-1 monthly or quarterly at his opinion.