How can taxpayers file their returns?

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?

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?

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?

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?

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?

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?

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?

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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Statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations,

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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?

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?

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?

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?

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?

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?

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?

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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What type of outward supply details are to be filed in the return?

What type of outward supply details are to be filed in the return?
Question 3
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 3. What type of outward supply details are to be filed in the return?
Ans. A normal registered taxpayer has to file the outward supply details in GSTR-1 in relation to various types of supplies made in a month, namely outward supplies to registered persons, outward supplies to unregistered persons (con

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Who needs to file Return in GST regime?

Who needs to file Return in GST regime?
Question 2
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
Q 2. Who needs to file Return in GST regime?
Ans. Every person registered under GST will have to file returns in some form or other. A registered person will have to file returns either monthly (normal supplier) or quarterly basis (Supplier opting for composition scheme). An ISD will have to file monthly returns showing details of

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What is the purpose of returns?

What is the purpose of returns?
Question 1
Bill
Returns Process and matching of Input Tax Credit
Faq On GST (2nd Edition) Dated 31.3.2017
12. Returns Process and matching of Input Tax Credit
Q 1. What is the purpose of returns?
Ans.
a) Mode for transfer of information to tax administration;
b) Compliance verification program of tax administration;
c) Finalization of the tax liabilities of the taxpayer within stipulated period of limitation; to declare tax liability f

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What are the consequences of credit distributed in contravention of the provisions of the Act?

What are the consequences of credit distributed in contravention of the provisions of the Act?
Question 19
Bill
Concept of Input Service Distributor in GST
Faq On GST (2nd Edition) Dated 31.3.2017
Q 19. What are the consequences of credit distributed in contravention of the provisions of the Act?
Ans. The credit distributed in contravention of provisions of Act could be recovered from the recipient to which it is distributed along with interest.
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Statute, statutory pr

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Whether the excess credit distributed could be recovered from ISD by the department?

Whether the excess credit distributed could be recovered from ISD by the department?
Question 18
Bill
Concept of Input Service Distributor in GST
Faq On GST (2nd Edition) Dated 31.3.2017
Q 18. Whether the excess credit distributed could be recovered from ISD by the department?
Ans. No. Excess credit distributed can be recovered along with interest only from the recipient and not ISD. The provisions of section 73 or 74 would be applicable for the recovery of credit.
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S

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The credit of tax paid on input service used by more than one supplier is ________

The credit of tax paid on input service used by more than one supplier is ________
Question 17
Bill
Concept of Input Service Distributor in GST
Faq On GST (2nd Edition) Dated 31.3.2017
Q 17. The credit of tax paid on input service used by more than one supplier is ________
(a) Distributed among the suppliers who used such input service on pro rata basis of turnover in such State.
(b) Distributed equally among all the suppliers.
(c) Distributed only to one supplier.
(d

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How to distribute common credit among all the recipients of an ISD?

How to distribute common credit among all the recipients of an ISD?
Question 14
Bill
Concept of Input Service Distributor in GST
Faq On GST (2nd Edition) Dated 31.3.2017
Q 14. How to distribute common credit among all the recipients of an ISD?
Ans. The common credit used by all the recipients can be distributed by ISD on pro rata basis i.e. based on the turnover of each recipient to the aggregate turnover of all the recipients to which credit is distributed.
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Statute

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