TMI BlogReturns under CGST Act,2017 with RulesX X X X Extracts X X X X X X X X Extracts X X X X ..... Returns under CGST Act,2017 with Rules - By: - Sanjeev Singhal - Goods and Services Tax - GST - Dated:- 22-6-2017 - - There are number of returns prescribed under GST law. Different returns are prescribed with due date of filing . Returns provisions are provided in Chapter IX from Section 37 to 48 of the CGST Act,2017. Types of Returns S.N. Form No. Title of the Form 1 GSTR -1 Detail of outward supply of goods or services 2 GSTR-1A Details of auto drafted supplies of goods or services 3 GSTR-2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Detail of inward supply of goods or services 4 GSTR-2A Detail of supply auto drafted from GSTR-1 and GSTR-5 to recipient 5 GSTR-3 Monthly return 6 GSTR-3A Notice to return defaulter u/s 46 7 GSTR- 4 Quarterly return for composite dealer 8 GSTR-4A Auto drafted detail for composite dealer 9 GSTR-5 Return of non resident taxable person 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... GSTR-5A Details of supplies of online information and database access or retrieval services by person located outside India to non taxable person in India. 11 GSTR-6 Return for input service distributors 12 GSTR-6A Detail of supplies auto drafted from GSTR-1 and GSTR -5 to ISD 13 GSTR-7 Return for tax deducted at source 14 GSTR-7A Tax deduction of source certificate 15 GSTR-8 Statement for tax collection at source ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16 GSTR-9 Annual Return 17 GSTR-9A AR for composite dealer 18 GSTR-9B AR for Electronic commerce operator u/s 52 19 GSTR-9C Registered person whose annual turnover exceed ₹ 2 Crore whose a/c is under audit 20 GSTR-10 Final Return 21 GSTR-11 Inward supply of person having UIN Statement of outward Supply [ Section-37 ] ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A registered taxable person shall furnish electronic statement of the details of outward supplies of goods and services for the tax period on or before the 10 th of succeeding tax period other than the following : Input service distributor Non resident taxable person Taxable person u/s 10 [ Composition Scheme ] Person who is deducting at source Person collecting tax at source The Detail of Outward supplies shall include invoice, debit notes, credit notes and revised invoices issued during tax period. Every RP who has been communicated the details under section 38[3] and Section 38[4] by recipient of supplies , can either accept or reject the detail so communicated on or before 17 th of the n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ext month following the tax period. The detail furnished by him under point no. 1 shall stand amended. Every RP who has furnished the detail under point no.1 and remain unmatched u/s 42 and 43 shall rectify the error and omission and shall pay tax and interest on short payment of tax, if any. No rectification for point no. 1 shall be allowed after furnishing the return u/s 39 for the month of September following the end of financial year or furnishing the annual return which ever is earlier. Example ; Abc ltd has filed Annual Return of FY 2017-18 on 15 th September,2018 and filed the return of September,2018 on 17.10.2018. If any mistake is found in GSTR -1 of September,2017. In this case the same can be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rectified only till 15.09.2018. Due Dates GSTR -1 10 th of succeeding months GSTR-2 15 th of succeeding month GSTR-3 20 th of succeeding month Following particulars of invoice shall be uploaded ; Type Supplies to Invoice Value Level of submission Interstate Registered person Every invoice Invoice Intrastate Registered person Every invoice Invoice Interstate Unregistered person 250000 C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onsolidated, Intrastate Unregistered person Any Consolidated HSN / SAC Turnover HSN/ SAC Aggregate Turnover 1.50 cr HSN/SAC not mandatory . Aggregate turnover 1.50 cr to 5 cr HSN up to 2-digit as optional up to chapter level. Not required in first year of GST implementation. SAC is must. Aggregate turnover 5 crr HSN 4 digit . SAC is must. IN all cases above HSN Code at 8 digit level Statement of Inward Supplies [ Section-38 ] A registered person shall furnish the de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tail of inward supplies of goods and services other than the following person including the goods and services under reverse charge basis and goods and services received under IGST. RP can rectify, modify, add or delete the detail of outward supply furnished under point 1 of Section 37 . Input service distributor Non resident taxable person Taxable person u/s 10 [ Composition Scheme ] Person who is deducting at source Person collecting tax at source Return shall be filed in GSTR -2 after the end of 10 th day but before 15 th day of the following month from the end of tax period. Rule ; Part-A of GSTR-2A shall be available to recipient after the filing of GSTR-1 by supplier so that recipient can ve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rify , validate, amend, delete and add. After the validation of GSTR-2A , the return of GSTR-2 shall be filed. After the filing of GSTR-2 shall be made available to supplier in the Form of GSTR-1A for verification. Every RP who has furnished the detail under GSTR-1 and GSTR-2 . Transaction remain unmatched u/s 37 and 38 shall rectify the error and omission and shall pay interest on short payment of tax or excess credit, if any. No rectification for point no. 1 shall be allowed after furnishing the return u/s 39 for the month of September following the end of financial year or furnishing the annual return which ever is earlier. Returns [ Section- 39 ] A registered person shall furnish the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... return electronically of inward and outward supplies of goods and / or services , input tax credit, tax payable , tax paid and other particular as may be prescribed other than the following person: Input service distributor Non resident taxable person Taxable person u/s 10 [ Composition Scheme ] Person who is deducting at source Person collecting tax at source Return shall be filed in GSTR -3 before the 20 th day of the month following the end of tax period. RP opted to file return under section 10 [ composition scheme ] will furnish GSTR -4 with in 18 days from the end of quarter. RP who deducted tax at source u/s 51 shall furnish GSTR-7 within 10 days after the end of month. Every RP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... registered as Input service distributor shall file GSTR-6 within 13 days from the end of the month. Every non resident taxable person shall furnish GSTR-5 with in 20 th day from the end of the calendar month or within 7 days after the last day of validity period of registration which ever is earlier All taxpayer mentioned above shall pay the tax to appropriate Govt. not later than the last day of filing the return. RP falling under point 1 2 above will file the return even though there is no supply of goods and/ or services. Subject to the provision of Section 37 and 38 , if any taxable person after furnishing return under point no. 1 to 5 find any error or omission, he may rectify the omission or e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rror in the return of the month or quarter subject to the payment of interest . But the above error or omission shall not form finding of Audit, Inspection, scrutiny or enforcement . Provided , no rectification shall be allowed after furnishing the return u/s 39 for the month of September following the end of financial year or furnishing the annual return which ever is earlier. RP shall not be allowed to furnish return unless his return of previous period has been furnished. First Return [ Section 40 ] Every RTP who has made outward supply in the period between the date of liability to date of registration shall file the first return after grant of registration Claim of input tax credit and provision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al acceptance [ Section 41 ] Every RP shall claim input tax credit as per the condition and restriction thereof on self assessed basis and take credit in his electronic credit ledger. The above credit can be utilized against self assessed outward tax liability. Matching, reversal and reclaim of input tax credit [ Section 42 ] Every RTP who has furnished inward supply [ recipient ] return shall be matched with return of supplier. The credit of input tax shall be matched with the return of outward supply of supplier . Where ITC is in excess of the tax declare by the supplier in his return , the same shall be communicated to both supplier and recipient. If the discrepancy is not rectif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ied by supplier , the same shall be added to outward tax liability of the recipient in the next return. If there is duplication of ITC, same shall be added to outward tax liability of recipient in the month of communication. If the supplier rectify the mistake in due time in his return , the recipient can reduce his outward tax liability. If any amount is added to outward tax liability shall also attract interest u/s 50 . Interest shall be computed from the date taking credit to date of adding to outward liability. If there is reduction in outward tax liability and interest is also paid on the same, both shall be refunded to his electronic cash ledger. Matching, reversal and reclaim of reduction in output tax liability[ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 43 ] Credit note issued by supplier of goods and/ or services shall be matched . with The corresponding reduction in input tax credit by recipient For duplication of claim for reduction in tax liability Above claim will be matched and accepted shall be communicated to supplier and recipient. If outward tax liability reduction is found to be in excess of reduction in input tax credit shall be informed to both. Duplication of claim for reduction in output tax liability shall be communicated to supplier. If the discrepancy has not been rectified by recipient in his return of month in which it is communicated , the amount shall be added to the outward tax liability of supplier. This additi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on shall be along with interest u/s 50 . If the credit note is accepted and corresponding reduction is done by recipient in his inward return . Interest shall be refunded to supplier . Annual Return [ Section 44 ] Every RP except the following shall furnish annual return on or before 31 st December in GSTR 9 following the end of financial year. Input service distributor Non resident taxable person Casual Taxable Person Person who is deducting at source under section 51 Person collecting tax at source under section 52 Every RP who has to get his account audited under Section 35[5] ( whose aggregate turnover in the financial year exceed ₹ 2 Crore shall furnish the annual return GS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TR-9C under point no.1 electronically for every financial year along with audited financial statement and reconciliation thereof. Casual Tax person will file the annual return on GSTR-9A. Electronic commerce operator shall file GSTR-9B. Final Return [ Section 45 ] Every RP who applied for the cancellation of registration shall file return in GSTR-10 within three month from the date of cancellation or cancellation order which ever is later. Late Fees [ Section 47 ] Any person who fails to furnish the detail u/s 37 and 38 or return u/s 39 and 45 by due date shall pay late fees of ₹ 100 per day subject to maximum of ₹ 5000. Any person who fails to furnish the return ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... u/s 44 shall pay late fees of ₹ 100 per day subject to maximum of 0.25% of turnover of state or union territory. Disclaimer : The contents of this article are solely for information and knowledge and does not constitute any professional advice or recommendation. Author does not accept any liability for any loss or damage of any kind arising out of this information set out in the article and any action taken based thereon. About the Author : Author is practicing chartered accountant in Gurgaon and having specialization in Service Tax and Haryana VAT. He can be reached at sanjeev.singhal@skaca.in WWW. skaca.in - - Scholarly articles for knowledge sharing authors experts professionals Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... x Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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