Goods and Services Tax – GST – By: – Sanjeev Singhal – Dated:- 9-1-2017 Last Replied Date:- 9-1-2017 – There are number of returns prescribed under GST law. Different returns are prescribed with due date of filing . We will discuss all provision of various return to be filed one by one. Statement of outward Supply [ Section-32] A registered taxable person shall furnish electronic statement of the details of outward supplies of goods and services for the tax period on or before the 10th of succeeding tax period other than the following : Input service distributor Non resident taxable person Taxable person u/s 9 [ Composition Scheme ] Person who is deducting at source Person collecting tax at source The Detail of Outward supplies shall include invoice, debit notes, credit notes and revised invoices issued during tax period. Every RTP who has been communicated the details under section 33[3] and Section 33[4] by recipient of supplies , can either accept or reject the detail so communicat
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9 [ Composition Scheme ] Person who is deducting at source Person collecting tax at source Return shall be filed in GSTR -2 after the end of 10th day but before 15th day of the following month from the end of tax period. Every RTP who has furnished the detail under point no.1 and remain unmatched u/s 37 and 38 shall rectify the error and omission and shall pay interest on short payment of tax, if any. No rectification for point no. 1 shall be allowed after furnishing the return u/s 34 for the month of September following the end of financial year or furnishing the annual return which ever is earlier. Returns [ Section- 34 ] A registered taxable person shall furnish the return electronically of inward and outward supplies of goods and / or services , input tax credit, tax payable , tax paid and other particular as may be prescribed other than the following person: Input service distributor Non resident taxable person Taxable person u/s 9 [ Composition Scheme ] Person who is deducting a
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under point no. 1 ,2 and 4 find any error or omission, he may rectify the omission or error in the return of the month or quarter subject to the payment of interest . But the above error or omission shall not form finding of Audit, Inspection, scrutiny or enforcement . Provided , no rectification shall be allowed after furnishing the return u/s 34 for the month of September following the end of financial year or furnishing the annual return which ever is earlier First Return [ Section 35 ] Every RTP who has made outward supply in the period between the date of liability to date of registration shall file the first return after grant of registration . Claim of input tax credit and provisional acceptance [ Section 36] Every RTP shall claim input tax credit as per the condition and restriction thereof on self assessed basis and take credit in his electronic credit ledger. The above credit can be utilized against self assessed outward tax liability. Matching, reversal and reclaim of input
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mmunicated to supplier and recipient. If outward tax liability found to be excess of reduction in input tax credit shall be informed to both. If the discrepancy has not been rectified by recipient in his return within month , the amount shall be added to the outward tax liability of supplier. This addition shall be along with interest u/s 45. If the credit note is accepted and corresponding reduction is done by recipient in his return . Interest shall be refunded to supplier . Annual Return [ Section 39 ] Every RTP except the following shall furnish annual return on or before 31st December in GSTR -9 following the end of financial year. Input service distributor Non resident taxable person Casual Taxable Person Person who is deducting at source Person collecting tax at source Every RTP who has to get his account audited under Section 53[4] shall furnish the annual return under point no.1 electronically for every financial year along with audited financial statement and reconciliation t
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