Goods and Services Tax

Rule 23 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 23 – 23. Details of inward supplies of persons having Unique Identity Number (1) Every person, who has been issued a Unique Identity Number and claims refund of the taxes paid on his inward supplies, shall furnish the details of such supplies of taxable goods and/or services in FORM GSTR-11 either directly or from a Facilitation Centre, notified by the Board or Com

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Final return – Rule 22 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 22 – 22. Final return Every registered taxable person

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 21 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 21 – 21. Annual return (1) Every registered taxable person shall furnish an annual return under sub-section (1) of section 30 electronically in FORM GSTR-9 through the Common Portal either directly or from a Facilitation Centre, notified by the Board or Commissioner: Provided that a taxable person paying tax under section 8 shall furnish the annual return in FORM G

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 20 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 20 – 20. Communication and rectification of discrepancy in details furnished by the e-Commerce operator and the supplier (1) Any discrepancy in the details furnished by the operator and those declared by the supplier shall be made available to both electronically in FORM GST ITC-1 through the Common Portal on or before the last date of the month in which the matchi

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 19 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 19 – 19. Matching of details furnished by the e-Commerce operator with the details furnished by the supplier The following details relating to the supplies made through an e-Commerce operator, as declared in FORM GSTR-8, shall be matched with the corresponding details declared by the supplier in FORM GSTR-1- (a) GSTIN of the supplier (b) GSTIN/UIN of the recipient, if the recipient is a registered taxable person (c) State of place of supply (d) Date of invoice of the supplier (e) Invoice Number of the supplier (f) Tax rate (g) Taxable value (h) Tax amount: Provided that for all supplies where the supplier is n

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 18 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 18 – 18. Refund of interest paid on reclaim of reversal The interest to be refunded under sub-section (9) of section 29 or sub-section (9) of section 29A shall be claimed by the taxable person in his return in FORM GSTR-3 and shall be credited to his electronic cash ledger in FORM GST PMT-3 and the amount credited shall be available for payment of any future liabil

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 17 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 17 – 17. Claim of reduction in output tax liability more than once

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 16 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 16 – 16. Communication and rectification of discrepancy in reduction in output tax liability and reversal of claim of reduction (1) Any discrepancy in claim of reduction in output tax liability, specified in subsection (3) of section 29A, and the details of output tax liability to be added under subsection (5) of the said section on account of continuation of such discrepancy shall be made available to the registered taxable person making such claim and the recipient electronically in FORM GST ITC-1 through the Common Portal on or before the last date of the month in which the matching has been carried out. (2

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 15 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 15 – 15. Final acceptance of reduction of output tax liability and communication thereof (1) The final acceptance of claim of reduction in output tax liability in respect of any tax period, specified in sub-section (2) of section 29A, shall be made available electronically to the taxable person making such claim in FORM GST ITC-1 through the Common Portal. (2) The

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 14 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 14 – 14. Matching of claim of reduction in the output tax liability The following details relating to the claim of reduction in output tax liability shall be matched under section 29A after the due date for furnishing the return in FORM GSTR3 (a) GSTIN of the supplier (b) GSTIN of the recipient (c) Credit Note date (d) Credit Note number (e) Taxable value (f) Tax a

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 13 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 13 – 13. Claim of input tax credit on the same invoice more than on

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 12 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 12 – 12. Communication and rectification of discrepancy in claim of input tax credit and reversal of claim of input tax credit (1) Any discrepancy in the claim of input tax credit in respect of any tax period, specified in sub-section (3) of section 29 and the details of output tax liable to be added under sub-section (5) of the said section on account of continuation of such discrepancy shall be made available to the registered taxable person making such claim and the supplier electronically in FORM GST ITC-1 through the Common Portal on or before the last date of the month in which the matching has been carr

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 11 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 11 – 11. Final acceptance of input tax credit and communication thereof (1) The final acceptance of claim of input tax credit in respect of any tax period, specified in sub-section (2) of section 29, shall be made available electronically to the registered taxable person making such claim in FORM GST ITC-1 through the Common Portal. (2) The claim of input tax credi

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 10 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 10 – 10. Matching of claim of input tax credit The following details relating to the claim of input tax credit on inward supplies including imports, provisionally allowed under section 28, shall be matched under section 29 after the due date for furnishing the return in FORM GSTR-3 (a) GSTIN of the supplier (b) GSTIN of the recipient (c) Invoice/Debit Note date (d)

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Notice to non-filers of returns – Rule 9 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 9 – 9. Notice to non-filers of retu

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 8 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 8 – 8. Form and manner of submission of statement of supplies effected through e-Commerce (1) Every e-Commerce operator required to collect tax at source under section 43C shall furnish a statement in FORM GSTR-8 electronically through the Common Portal, either directly or from a Facilitation Centre, notified by the Board or Commissioner, containing details of suppl

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 7 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 7 – 7. Form and manner of submission of return by a person required to deduct tax at source (1) Every registered taxable person required to deduct tax at source under section 37 shall furnish a return in FORM GSTR-7 electronically through the Common Portal either directly or from a Facilitation Centre, notified by the Board or Commissioner. (2) The details furnished

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 6 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 6 – 6. Form and manner of submission of return by an input service distributor Every input service distributor shall, after adding, correcting or deleting the details contained in FORM GSTR-6A, furnish electronically a return in FORM GSTR-6, containing the details of tax invoices on which credit has been received and those issued under section 17, through the Common

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 5 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 5 – 5. Form and manner of submission of return by non-resident taxable person Every registered non-resident taxable person shall furnish a return in FORM GSTR-5 electronically through the Common Portal, either directly or from a Facilitation Centre, notified by the Board or Commissioner, including therein the details of outward supplies and inward supplies and shall

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 4 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 4 – 4. Form and manner of submission of quarterly return by the composition supplier (1) Every registered taxable person paying tax under section 8 shall, after adding, correcting or deleting the details contained in FORM GSTR-4A, furnish a quarterly return in FORM GSTR-4 electronically through the Common Portal, either directly or from a Facilitation Centre, notifi

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 3 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 3 – 3. Form and manner of submission of monthly return (1) Every registered taxable person, other than a taxable person paying tax under section 8, shall furnish a return under sub-section (1) of section 27 in FORM GSTR-3 electronically through the Common Portal either directly or from a Facilitation Centre, notified by the Board or Commissioner. (2) Part A of the return under sub-rule (1) shall be electronically generated on the basis of information furnished through returns in FORM GSTR-1, FORM GSTR-2, electronic credit ledger, electronic cash ledger and electronic tax liability register of the taxable person

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 2 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 2 – 2. Form and manner of furnishing details of inward supplies (1) Every registered taxable person required to furnish the details of inward supplies of goods and/or services received during a tax period under sub-section (2) of section 26 shall, on the basis of details contained in Part A of FORM GSTR-2A, prepare such details in the manner specified in sub-section (1) of the said section and furnish the same in FORM GSTR-2 electronically through the Common Portal, either directly or from a Facilitation Centre, notified by the Board or Commissioner, after including therein details of such other inward supplies

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

furnished by an Input Service Distributor in his return in FORM GSTR-6 under rule 7 shall be made available to the recipient of credit in Part B of FORM GSTR 2A electronically through the Common Portal and the said recipient may include the same in FORM GSTR-2. (6) The details of tax deducted at source by the deductor under section 37 furnished in FORM GSTR-7 shall be made available to the deductee in Part C of FORM GSTR-2A electronically through the Common Portal and the said deductee may include the same in FORM GSTR-2. electronically through the Common Portal and the said deductee may include the same in FORM GSTR-2. (7) The details of tax collected at source by an e-commerce operator under section 43C furnished in FORM GSTR-8 shall be m

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Rule 1 – Draft-Bills-Reports – Draft GST Return Rules – DRAFT – GOODS AND SERVICES TAX – RETURN RULES, 20- [September 2016] – Rule 1 – DRAFT GOODS AND SERVICES TAX – RETURN RULES, 20- Note: Corresponding changes in the Model GST Law are being carried out separately. Comments , if any may kindly be given by 28th September, 2016. Chapter-__: RETURNS 1. Form and manner of furnishing details of outward supplies (1) Every registered taxable person required to furnish the details: (a) of outward supplies of goods and/or services effected during a tax period under sub-section (1) of section 25; and (b) of outward supplies of goods and/or services effected during an earlier tax period under sub-section (2) of section 25 shall furnish such details

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Goods and Services Tax – GST – By: – Anuj Bansal – Dated:- 5-10-2016 Last Replied Date:- 5-10-2016 – This article is in continuity of the article earlier written by the Author and is published in Tax Management India as regards transition of registration of the dealers under the existing system to GST system. In short, it was explained in the earlier article that the registration of existing dealers will automatically be converted to registrations under GST law and certain basic details of the dealers will also be inserted in the new registration system except that details which may further be required. Another important aspect in the transition from the existing system to GST regime is the carryover of closing balance of ITC from present tax regime to GST regime. It is quite important to understand the process of carryover of closing balance of ITC to GST regime so that full benefit of ITC is available to a dealer. ITC is available to a dealer under different categories and broadly t

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

d over in the system for the purpose of CGST or SGST as the case may be. In other words, the amount of ITC to be carried over shown in the return for Service Tax / Excise Duty or for VAT as the case may be shown by a dealer will be automatically taken by the system. It may be stated once the ITC is carried over in the return of the present law and considered in the first return under GST law, there is no mechanism to correct / revise ITC carried forward from the earlier period. Therefore, the dealer is required to take an extra precaution in filing the last return for the present tax regime and first return for the GST regime. In other words, in case any amount of ITC is left out in the return for the period ending March, 2017, the dealer can only claim cash refund from the department and which would be difficult. As per the existing provisions of Service Tax / Excise Duty return for the month of March 2017 will be required to be filed by 25th of April / 10th of April. Similarly, retur

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

ed that the dealer has to be cautious in filing the returns under existing laws for the month of March 2017 claiming the correct amount of ITC carried over and such returns should be in any case filed before 20th May 2017 on which date the returns under GST Law will become due. Transition of closing balance ITC on the appointed date in relation to capital goods: This situation is relevant in the cases where the assesse has partly claimed ITC on the Capital Goods in the present tax regime and the balance is pending for claim during GST Regime. In such situation, the assessee will determine the total balance ITC on capital goods on the appointed date and he will be allowed to consider the ITC in his first return under GST regime. Here the department has allowed the assessee to manually insert the value of the balance ITC relating to capital goods. It is suggested that the dealer should maintain proper accounts / records of capital goods purchased and ITC available during April 2017. Same

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

nt of duty/ tax under the earlier law. Therefore, it is suggested in such situations to start preparing / documenting such kind of invoices which would be relevant for claiming ITC on the closing stock. Dealers who are registered under the composition scheme under earlier law but under GST regime paying tax as general / normal dealer, the ITC in regard to the stock held by such dealers on the appointed date will be available in GST regime. However, the dealer should be in possession of invoices or any other prescribed documents evidencing the payment of duty / tax.Moreover, the dealer would be eligible for ITC on receipt of such goods under earlier law but for being a composite dealer has not claimed ITC in earlier law. Such kind of ITC shall also be admissible under the GST regime. Therefore, it is suggested that if any such kind of situation is envisaged, proper records of invoices / documents evidencing payment of duty / tax shall be maintained. There are certain other important con

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 5-10-2016 Last Replied Date:- 5-10-2016 – Chapter VII of Model GST law ( law for short) discusses about the tax invoice, credit and debit notes. Tax invoice Tax invoice is to be issued for both taxable goods as well as taxable service. Section 23 of the law provides that a registered taxable person supplying- Taxable goods shall issue a tax invoice showing the description, quantity and value of goods, the tax thereon and such other particulars as may be prescribed; Taxable service shall issue a tax invoice, within the prescribed time, showing the description, the tax charges thereon and such other particulars as may be prescribed. Contents of tax invoice The tax invoice, in general, shall have the following details- name, address and GSTIN of the supplier; a consecutive serial number containing only alphabets and/or numerals, unique for a financial year; date of its issue; name, address and GSTIN/unique id number, if r

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

of the original invoice; and signature or digital signature of the supplier or his authorized representative; The Board/Commissioner may specify, by notification- the number of digits of HSN code for goods or the accounting code for services, that a class of taxable persons shall be required to mention, for such period as may be specified in the said notification, and the class of taxable persons that would not be required to mention the HSN code for goods or, the Accounting Code for Services, for such period as may be specified in the said notification. Invoice in exports The invoice, in case of exports, shall carry an endorsement Supply meant for Export on Payment of IGST or Supply meant for export under bond without payment of IGST . The following details are to be incorporated in the invoice- name and address of the recipient; address of delivery; name of the country of destination; and number and date of application for removal of goods for Export (ARE-1). Period of issue of invoi

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

ned an Invoice Reference Number. The invoice in case of supply of services shall be prepared in duplicate. The original copy is to be marked as original for recipient and the duplicate copy is to be marked as duplicate for supplier . The serial number of invoices issued during a tax period shall be furnished electronically through the common portal in Form GSTR-1. Invoice Reference Number A registered taxable person may obtain an invoice reference number from the common portal (the common GST electronic portal approved by the Central Government and State Governments, on the recommendation of the Council, for the specified purposes, as may be notified under this Act) by uploading, on the said portal, a tax invoice issued by him in Form GST-INV-1 and produce the same for verification by the proper officer as required under Section 61 in lieu of tax invoice. The Invoice Reference Number shall be valid for a period of 30 days from the date of uploading. Revised invoice A registered taxable

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

number containing only alphabets and/or numerals, unique for a financial year; date of issue; name, address and GSTIM/.UID, if registered of the recipient; HSN Code of goods or Accounting Code for services; Description of goods of services; value of goods or services taking into account discount or abatement, if any; and signature or digital signature of the supplier or his authorized representative. The bill of supply is not required to be issued if the value of the goods or services is less than ₹ 100/- where the recipient of the goods or services requires such bill. The registered taxable person shall prepare a consolidated bill of supply at the close of each day in respect of all such supplies where the bill of supply has not been issued due to lesser value to ₹ 100/-. Credit or debit notes The explanation to Section 23 provides that tax invoice shall be deemed to include a document issued by an Input Service Distributor under section 17, and shall also include any sup

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

for supply of any goods and/or services and the taxable value and/or tax charged in that tax invoice is found to be less than the taxable value and/or tax payable in respect of such supply, the taxable person, who has supplied such goods and/or services, shall issue to the recipient a debit note containing such particulars as may be prescribed on or before the thirtieth day of September following the end of the financial year in which such supply was made, or the date of filing of the relevant annual return, whichever is earlier. Section 24(3) of the law imposes an obligation on a person who issues or receives a debit note or credit note. Any registered taxable person who issues or receives a credit or debit note in relation to a supply of goods and/or services shall declare the details of such credit or debit note, as the case may be, in the return for the month during which such credit or debit note has been issued or received or in the return for any subsequent month but not later t

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

Service Distributor means an office of the supplier of goods and / or services which receives tax invoices issued under section 23 towards receipt of input services and issues tax invoice or such other document as prescribed for the purposes of distributing the credit of CGST (SGST in State Acts) and / or IGST paid on the said services to a supplier of taxable goods and / or services having same PAN as that of the office referred to above. For the purposes of distributing the credit of CGST (SGST in State Acts) and / or IGST, Input Service Distributor shall be deemed to be a supplier of services. A tax invoice issued by an Input Service Distributor shall contain the following details- name, address and GSTIN of the Input Service Distributor; a consecutive serial number containing only alphabets and/or numerals, unique for a financial year; date of its issue; name, address and GSTIN of supplier of services, the credit in respect of which is being distributed and the serial number and da

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =

a GTA Where the supplier of taxable service is a goods transport agency supplying services in relation to transportation of goods by road in a goods carriage, he shall issue a tax invoice or any other document in lieu thereof, by whatever named called- containing the gross weight of the consignment; name of the consignor and the consignee; registration number of goods carriage in which the goods are transported; details of goods transported; details of place of origin and designation; GSTIN of the person liable for paying tax whether as consignor or consignee or GST; and also contains other information as prescribed for tax invoice. Tax invoice of passenger transportation service Where the supplier of taxable service is supplying passenger transportation service, a tax invoice shall include ticket in any form, by whatever name called, and whether or not containing the address of the recipient of service but containing other information for a tax invoice. – Reply By Ganeshan Kalyani –

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =