FILING OF RETURNS UNDER MODEL \u2018GST\u2019 LAW
By: – DR.MARIAPPAN GOVINDARAJAN
Goods and Services Tax – GST
Dated:- 18-10-2016<\/p>\n
Purposes of filing returns
\nThe following are the purposes for filing of returns in tax matters-
\n * Mode for transfer of information to tax administration;
\n * Compliance verification program of tax administration;
\n * Finalization of tax liabilities of the tax payer within stipulated period of limitation;
\n * To declare tax liability for a given period;
\n * To provide necessary inputs for taking policy decision;
\n * Management audit and anti-evasion programs of tax administration
\nLiability to file GST returns
\nThe following persons are liable to file returns under GST regime-
\n * Every registered taxable person, who crosses the threshold limit of Rs. 10 lakhs;
\n * Interstate suppliers;
\n * TDS deductors;
\n * e-commerce operators;
\n * Suppliers supplying goods through e-commerce operators;
\n * Input Service Distributors;
\n * Nonresident taxable p<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n rnish a return, shall pay to the credit of the appropriate Government the tax due as per such return not later than the last date on which he is required to furnish such returns. A return furnished by a taxable person without payment of tax due as per such return shall not be treated as a valid return for allowing input tax credit in respect of supplies made by such person. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n uarter in which the registration has been granted. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n r the Act and inward supplies of goods and\/or services taxable under the IGST Act, and credit or debit notes received in respect of such supplies during a tax period on or before the 15th day of the month succeeding the tax period. The Board\/Commissioner for valid and sufficient reasons may, by notification, extend the time limit for furnishing such details. Any extension of time limit by the Board\/Commissioner of State Goods and Services Tax shall be deemed to be approved by the Commissioner of State Goods and Services Tax\/Board. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n n under Section 8 shall furnish the annual return in Form GSTR -9A. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n s having turnover upto Rs. 1.50 Crores. Whether there would be provision in the return template to mention the HSN code which can substantially ease in matching input credit of purchaser detail with that of supplier return. But how far the details would be matched where mentioning of hsn code is optional. Currently under Maharashtra VAT, there is a row given at the bottom where dealers after disclosing VAT TIN wise purchase detail with vat amount shall disclose all the balance purchase amount and credit amount in the last row itself. This it happens that department rejects the vat credit of the purchased shown in last row. In order to get that credit , cross check confirmation is submitted by the vat dealers. But how the mechanism would be under GST where HSN code below 1.5 crore is optional and can shall be shown without HSN which will not match with the sale detail shown by supplier with the purchase detail shown by the purchaser. The credit may be disallowed. Pls. Share you view. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n riod in which the last lot is received and recorded in the books of accounts. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" FILING OF RETURNS UNDER MODEL \u2018GST\u2019 LAWBy: – DR.MARIAPPAN GOVINDARAJANGoods and Services Tax – GSTDated:- 18-10-2016 Purposes of filing returns The following are the purposes for filing of returns in tax matters- * Mode for transfer of information to tax administration; * Compliance verification program of tax administration; * Finalization of tax liabilities of the … Continue reading “FILING OF RETURNS UNDER MODEL \u2018GST\u2019 LAW”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1685","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/1685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1685"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/1685\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nSection 27(4) provides that every registered taxable person shall furnish a return for every tax period whether or not any supplies of goods and\/or services have been effected during such tax period.
\nSection 27(7) provides that if any taxable person after furnishing a return discovers any omission or incorrect particulars, other than a result of scrutiny, audit, inspection or enforcement activity by the tax authorities, he shall rectify such omission or incorrect particulars in the return to be filed for the month or quarter, during which such omission or incorrect particulars are noticed, subject to payment<\/p>\n
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\nFurnishing of outward supplies
\nEvery registered taxable person, other than an Input Service Distributor ('ISD' for short) and a tax deductor, is required to furnish the details-
\n * Of outward supplies of goods and\/or services effected during a tax period; and
\n * Of outward supplies of goods and\/or services effected during an earlier tax period
\nin Form GSTR – 1 electronically through the Common Portal. The details are to be filed on or before the tenth day of the succeeding the said tax period. The Board\/Commissioner may, for valid and sufficient reasons, by notification, extend the time limit for furnishing such details. Any extension of time limit shall be deemed to be approved by the Commissioner of State Goods and Services Tax\/Board. The details of outward supplies shall include details relating to zero rated supplies, interstate supplies, return of goods received in relation to\/in pursuance of an inward<\/p>\n
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\nReturn by ISD
\nSection 27(6) provides that every ISD shall, after adding, correcting or deleting the details contained in Form GSTR-6A, furnish electronically a return in Form No. GSTR-6, containing the details of tax invoices on which credit has been received and those issued under Section 17, through the Common Portal.
\nReturn by tax deductor
\nSection 27(5) provides that every registered taxable person required to deduct tax at source shall fur<\/p>\n
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\nSection 30 (2) provides that every registered taxable person whose aggregate turnover during a financial year exceeds Rs. 1 crore shall get his accounts audited and he shall furnish a copy of audited annual accounts and a reconciliation statement, reconciling the value of supplies declared in the return furnished for the year, duly certified, in Form No. GSTR – 9B electronically through the Common Portal.
\nFinal return
\nSection 31 provides that every registered taxable person who applies for cancellation of registration shall furnish a final return within 3 months from the date of cancellation or date of cancellation order, whichever is later, in Form No. GSTR-10, electronically through the Common Portal.
\nLate fee
\nSection 33(1) provides that any registered taxable person who fails to furnish the details of outward or inward supplies required under Section 25 or 26 or returns required under Section 27 or Section 31 b<\/p>\n
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\n D<\/p>\n
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\n4A. Amendments to details of inward supplies received in earlier tax periods
\nOriginal
\nInvoice
\nGSTIN
\nof
\nsupplier
\nRevised\/Original Invoice
\nIGST
\nCGST
\nSGST
\n(figures in Rs)
\nPOS(only if
\ndifferent from
\nthe location of
\nrecipient
\nNo.
\nDate Value Servic SAC
\nes
\n(1) (2) (3) (4) (5) (6) (7)
\n(8)
\nTaxable
\nvalue
\n(9)
\nRate
\nAmt
\nRate
\nAmt Rate Amt
\n(10)
\n(11)
\n(12) (13) (14) (15)
\n(16)
\nOther than supplies attracting reverse charge
\n\u00e2\u02dc\u0090 populate Shelt be auto nomas kat from an STRINGSTE
\n$ Taxable person will have to enter the amount of credit to be availed for CGST\/SGST or IGST as the case may be
\n5. Details of Credit\/Debit Notes
\nGSTIN
\nof
\nType
\nof note
\nDebit Note\/ credit note
\nOriginal Invoice
\nsupplier (Debit\/
\nCredit
\nDifferential
\nValue
\n(Plus or
\nMinus)
\n)
\nNo.
\nDate
\nNo.
\nDate
\n81
\n(figures in Rs)
\nDifferential Tax
\nIGST
\nCGST
\nSGST
\n0 2000 Rate And Rate Amy Rugs Ami
\nDetails shall be auto po<\/p>\n
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