Author: admin_gst

Where the tax liability as per the final assessment is higher than in provisional assessment, will the taxable person be liable to pay interest?
Question 4
Bill
Assessment and Audit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 4. Where the tax liability as per the final assessment is higher than in provisional assessment, will the taxable person be liable to pay interest?
Ans. Yes. He will be liable to pay interest from the date the tax was due to be paid originally till the da

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What is the latest time by which final assessment is required to be made?
Question 3
Bill
Assessment and Audit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 3. What is the latest time by which final assessment is required to be made?
Ans. The final assessment order has to be passed by the proper officer within six months from the date of the communication of the order of provisional assessment. However, on sufficient cause being shown and for reasons to be recorded in writing, t

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When can a taxable person pay tax on a provisional basis?
Question 2
Bill
Assessment and Audit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 2. When can a taxable person pay tax on a provisional basis?
Ans. As a taxpayer has to pay tax on self-assessment basis, a request for paying tax on provisional basis has to come from the taxpayer which will then have to be permitted by the proper officer. In other words, no tax officer can suo-moto order payment of tax on provisional basis

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Who is the person responsible to make assessment of taxes payable under the Act?
Question 1
Bill
Assessment and Audit
Faq On GST (2nd Edition) Dated 31.3.2017
13. Assessment and Audit
Q 1. Who is the person responsible to make assessment of taxes payable under the Act?
Ans. Every person registered under the Act shall himself assess the tax payable by him for a tax period and after such assessment he shall file the return required under section 39.
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Whether the amount of credit detected by the system on account of mis-match between GSTR-1 and GSTR-2 and recovered as output tax can be reclaimed?
Question 24
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 24. Whether the amount of credit detected by the system on account of mis-match between GSTR-1 and GSTR-2 and recovered as output tax can be reclaimed?
Ans. Yes, once the mismatch is rectified by the supplier by declaring

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What happens if ITC is taken on the basis of a document more than once?
Question 23
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 23. What happens if ITC is taken on the basis of a document more than once?
Ans. In case the system detects ITC being taken on the same document more than once (duplication of claim), the amount of such credit would be added to the output tax liability of the recipient in the return. [section 42(

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What is the consequence of not filing the return within the prescribed date?
Question 22
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 22. What is the consequence of not filing the return within the prescribed date?
Ans. A registered person who files return beyond the prescribed date will have to pay late fees of rupees one hundred for every day of delay subject to a maximum of rupees five thousand. For failure to furnish A

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Is it compulsory for a taxpayer to file return by himself?
Question 21
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 21. Is it compulsory for a taxpayer to file return by himself?
Ans. No. A registered taxpayer can also get his return filed through a Tax Return Preparer, duly approved by the Central or the State tax administration.
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What precautions, a taxpayer is required to take for a hassle free compliance under GST?
Question 20
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 20. What precautions, a taxpayer is required to take for a hassle free compliance under GST?
Ans. One of the most important things under GST will be timely uploading of the details of outward supplies in Form GSTR-1 by 10th of next month. How best this can be ensured will depend on the number of B2B invoices that the taxpayer issues. If the number is small, the taxpayer can upload all the information in one go. However, if the number of invoices is large, the invoices (or debit/ credit notes) should be uploaded on a regular

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close to the due date. The system would allow recipients to see if their suppliers have uploaded invoices pertaining to them. The GSTN system will also provide the track record about the compliance level of a tax payer, especially about his track record in respect of timely uploading of his supply invoices giving details about the auto reversals that have happened for invoices issued by a supplier. The Common Portal of GST would have pan India data at one place which will enable valuable services to the taxpayers. Efforts are being made to make regular uploading of invoices as easy as possible and it is expected that an enabling eco- system will be developed to achieve this objective. Taxpayers should make efficient use of this ecosystem fo

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How can taxpayers file their returns?
Question 19
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 19. How can taxpayers file their returns?
Ans. Taxpayers will have various modes to file the statements and returns. Firstly, they can file their statement and returns directly on the Common Portal online. However, this may be tedious and time consuming for taxpayers with large number of invoices. For such taxpayers, an offline u

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If a return has been filed, how can it be revised if some changes are required to be made?
Question 18
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 18. If a return has been filed, how can it be revised if some changes are required to be made?
Ans. In GST since the returns are built from details of individual transactions, there is no requirement for having a revised return. Any need to revise a return may arise due to the

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Is an Annual Return and a Final Return one and the same?
Question 17
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 17. Is an Annual Return and a Final Return one and the same?
Ans. No. Annual Return has to be filed by every registered person paying tax as a normal taxpayer. Final Return has to be filed only by those registered persons who have applied for cancellation of registration. The Final return has to be filed within

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Which type of taxpayers need to file Annual Return?
Question 16
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 16. Which type of taxpayers need to file Annual Return?
Ans. All taxpayers filing return in GSTR-1 to GSTR-3, other than ISD's, casual/non-resident taxpayers, taxpayers under composition scheme, TDS/TCS deductors, are required to file an annual return. Casual taxpayers, non- resident taxpayers, ISDs and persons auth

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How does a taxpayer get the credit of the tax deducted at source on his behalf? Does he need to produce TDS certificate from the deductee to get the credit?
Question 15
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 15. How does a taxpayer get the credit of the tax deducted at source on his behalf? Does he need to produce TDS certificate from the deductee to get the credit?
Ans. Under GST, the deductor will be submitting the

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Do Input Service Distributors (ISDs) need to file separate statement of outward and inward supplies with their return?
Question 14
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 14. Do Input Service Distributors (ISDs) need to file separate statement of outward and inward supplies with their return?
Ans. No, the ISDs need to file only a return in Form GSTR6 and the return has the details of credit received by them from the se

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Do tax payers under the composition scheme also need to file GSTR-1 and GSTR-2?
Question 13
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 13. Do tax payers under the composition scheme also need to file GSTR-1 and GSTR-2?
Ans. No. Composition tax payers do not need to file any statement of outward or inward supplies. They have to file a quarterly return in Form GSTR-4 by the 18th of the month after the end of the quarter. S

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What is the special feature of GSTR-2?
Question 12
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 12. What is the special feature of GSTR-2?
Ans. The special feature of GSTR-2 is that the details of supplies received by a recipient can be auto populated on the basis of the details furnished by the counterparty supplier in his GSTR-1.
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What will be the legal position in regard to the reversed input tax credit if the supplier later realizes the mistake and feeds the information?
Question 11
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 11. What will be the legal position in regard to the reversed input tax credit if the supplier later realizes the mistake and feeds the information?
Ans. At any stage, but before September of the next financial year, supplie

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What if the invoices do not match? Whether ITC is to be given or denied? If denied, what action is taken against supplier?
Question 10
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 10. What if the invoices do not match? Whether ITC is to be given or denied? If denied, what action is taken against supplier?
Ans. If invoices in GSTR-2 do not match with invoices in counter-party GSTR-1, then such mismatch shall be intimated to

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Does the taxable person have to feed anything in the GSTR-2 or everything is auto-populated from GSTR-1?
Question 9
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 9. Does the taxable person have to feed anything in the GSTR-2 or everything is auto-populated from GSTR-1?
Ans. While a large part of GSTR-2 will be auto-populated, there are some details that only recipient can fill like details of imports, details of purchases f

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Can a recipient feed information in his GSTR-2 which has been missed by the supplier?
Question 8
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 8. Can a recipient feed information in his GSTR-2 which has been missed by the supplier?
Ans. Yes, the recipient can himself feed the invoices not uploaded by his supplier. The credit on such invoices will also be given provisionally but will be subject to matching. On matching, if t

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Whether value for each transaction will have to be fed? What if no consideration?
Question 7
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 7. Whether value for each transaction will have to be fed? What if no consideration?
Ans. Yes. Not only value but taxable value will also have to be fed. In some cases, both may be different.
In case there is no consideration, but it is supply by virtue of schedule 1, the taxable value

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Whether description of each item in the invoice will have to be uploaded?
Question 6
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 6. Whether description of each item in the invoice will have to be uploaded?
Ans. No. In fact, description will not have to be uploaded. Only HSN code in respect of supply of goods and Accounting code in respect of supply of services will have to be fed. The minimum number of digits that the fil

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Whether all invoices will have to be uploaded?
Question 5
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 5. Whether all invoices will have to be uploaded?
Ans. No. It depends on whether B2B or B2C plus whether Intra-state or Inter-state supplies.
For B2B supplies, all invoices, whether Intra-state or Inter- state supplies, will have to be uploaded. Why So? Because ITC will be taken by the recipients, invoice matching is req

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Is the scanned copy of invoices to be uploaded along with GSTR-1?
Question 4
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 4. Is

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