Goods and Services Tax – GST – By: – Ramandeep Bhatia – Dated:- 13-3-2019 Last Replied Date:- 13-3-2019 – 1. What is the turnover limit for Quarterly filing of GST return? Answer: Quarterly filing of GST return is available only if aggregate turnover during the preceding financial year up to ₹ 5.00 Cr. For newly registered taxpayers, turnover will be considered as zero and hence they will have the option to file monthly, Sahaj, Sugam or Quarterly (Normal) return. 2. Quarterly filing of return is optional or compulsory? Answer: Quarterly filing of return is optional, not compulsory. The periodicity of filing return will be deemed to be monthly for all taxpayers unless quarterly filing of the return is opted for. 3. Can the periodicity of GST Return be changed in between the year? Answer: Change in the periodicity of the return filing (from quarterly to monthly and vice versa) would be allowed only once at the time of filing the first return by a taxpayer. The periodicity of the r
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ill be allowed to be filed in quarterly return SUGAM quarterly return? Answer: Taxpayers opting to file quarterly return as SUGAM shall be allowed to declare- Outward supply under B2C and B2B category and Inward supplies attracting reverse charge only. Such taxpayers cannot make supplies through e-commerce operators on which tax is required to be collected under section 52. Such taxpayers shall not take credit on missing invoices and shall not be allowed to make any other type of inward or outward supplies. Such taxpayers may make Nil rated, exempted or Non-GST supplies which need not be declared in said return. 7. What details will be allowed in monthly return or Quarterly (Normal) return? Answer: Taxpayers opting to file monthly return or Quarterly (Normal) return shall be able to declare all types of outward supplies, inward supplies and take credit on missing invoices. 8. Can a Taxpayers filing the return as Quarterly (Normal) can switch over to Sugam or Sahaj return in between in
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taxpayer filing the return on a monthly basis will not be able to upload the details of documents from 18th to 20th of the month following the tax period. (ii) the taxpayer filing the return on a quarterly basis will not be able to upload the details of documents from 23rd to 25th of the month following the quarter. 10. When will the details of the document uploaded by the supplier be available to receipt in the new return system? Answer: Supplier can upload the documents for any supply on real time basis. Facility for accepting such documents by the recipient shall be made available. Details of documents uploaded by the supplier will be shown to the concerned recipient also on near real time basis. 11. If the document can be uploaded by the supplier on real time, how the credit will be available to the receipt in the new return system? Answer: Recipient will get credit during a tax period on the basis of the details of documents uploaded by the supplier upto the 10th of the month fol
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turn forms? Answer: Supplies attracting reverse charge will be reported only by the recipient and not by the supplier in this annexure. Such supplies shall be reported GSTIN wise and amount of tax and taxable value will be net of debit / credit notes and advance paid (on which tax has already been paid at the time of payment of advance), if any. 13. Does HSN wise reporting of supplies is mandatory in new return forms? Answer: All suppliers with annual aggregate turnover of more than ₹ 5 crore and that in relation to exports, imports and SEZ supplies will upload HSN level data. HSN code shall be reported at least at six digit level for goods and at least at six digit level for services. Other taxpayers (turnover upto ₹ 5 crore) shall have an optional facility to report HSN code in the relevant table or leave it blank. 14. Do the new return system will calculate the tax or need to be reported? Do the values will be reported in whole number in new return forms? Answer: Tax amo
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