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FILING OF RETURNS UNDER MODEL ‘GST’ LAW

Goods and Services Tax - GST - By: - Mr. M. GOVINDARAJAN - Dated:- 18-10-2016 Last Replied Date:- 19-10-2016 - 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 tax payer within stipulated period of limitation; To declare tax liability for a given period; To provide necessary inputs for taking policy de .....

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for short) provide for filing of returns by taxable persons. Periodicity of Return Section 27 (1) provides that every registered taxable person shall, for every calendar month or part thereof, furnish a return electronically of inward and outward supplies of goods and/or services, input tax credit, tax payable, tax paid and other particulars as may be prescribed within twenty days after the end of such month. The return is in the form GSTR-3. A registered taxable person paying tax under Section .....

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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. Section 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. Section 27(7) provides t .....

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r the due date for filing of return for the month of September or second quarters, following the end of the financial year, or the actual date of filing of relevant annual return, whichever is earlier. First Return Section 27A (1) provides that every registered taxable person paying tax under Section 7 shall furnish the first return containing the details of- Outward supplies from the date on which he became liable to registration till the end of the month in which the registration has been gran .....

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ut Service Distributor ( ISD for short) and a tax deductor, is required to furnish the details- Of outward supplies of goods and/or services effected during a tax period; and Of outward supplies of goods and/or services effected during an earlier tax period in 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 .....

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onically to each of the registered taxable persons (recipients) in Part A of Form N. GSTR-2A through the Common Portal after filing Form GSTR-1. Furnishing details of inward supplies Every registered taxable person, other than an ISD and tax deductor, required to furnish the details of inward supplies of goods and/or services received during a tax period shall prepare such details, on the basis of Part A of Form GSTR-2A and furnish the same in Form GSTR-2 electronically through the Common Portal .....

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5th 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. Return by ISD Section 27(6) provides that every ISD shall, after adding, correcting or deleting the details contained in Form GSTR-6A, furnish elec .....

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f such month. The details furnished by the deductor shall be made available electronically to each of the suppliers in Part C of Form No. GSTR - 2A on the Common Portal after the due date of filing of GSTR - 7. The certificate shall be made available electronically to the deductee on the Common Portal in Form No. GSTR -7A. Annual Return Section 30(1) provides that every registered person, other than an ISD, a deductor, a casual taxable person and a non resident taxable person, shall furnish an a .....

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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. Final return Section 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. .....

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