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Returns of GST

Goods and Services Tax - GST Law and Procedure - 23 - RETURNS The basic features of the returns mechanism in GST include electronic filing of returns, uploading of invoice level information and auto-population of information relating to Input Tax Credit (ITC) from returns of supplier to that of recipient, invoice-level information matching and auto-reversal of Input Tax Credit in case of mismatch. The returns mechanism is designed to assist the taxpayer to file returns and avail ITC. Under GST, .....

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es they undertake. All the returns are to be filed online. Returns can be filed using any of the following methods: 1. GSTN portal (www.gst.gov.in ) 2. Offline utilities provided by GSTN 3. GST Suvidha Providers (GSPs) - If you are already using the services of ERP providers such as Tally, SAP, Oracle etc., there is a high likelihood that these ERP providers would provide inbuilt solutions in the existing ERP systems Following table lists the various types of returns under GST Law: Return Descri .....

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t Taxpayer 20th of the month succeeding the tax period & within 7 days after expiry of registration GSTR-6 Monthly Return for an Input Service Distributor (ISD) Input Service Distributor 13th of the next month GSTR-7 Monthly Return for authorities deducting tax at source Tax Deductor 10th of the next month GSTR-8 Monthly Statement for E-Commerce Operator depicting supplies effecting through it E-Commerce Operator 10th of the next month GSTR-9 Annual Return Registered Person other than an ISD .....

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ies effected during the previous month. b. It needs to be filed by the 10th of every month in relation to supplies effected during the previous month. For example, a statement of all the outward supplies made during the month of July 2017 needs to be filed by 10th August, 2017. 2. GSTR-2 (Statement of Inward Supplies): a. This return signifies accrual of ITC (Input Tax Credit) from the inputs received during the previous month. b. It is auto-populated from the GSTR-1s filed by the corresponding .....

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uto-Populated from GSTR-1) b. Inward Supplies (Auto-Populated from GSTR-2) c. ITC availed d. Tax Payable e. Tax Paid (Using both Cash and ITC) NOTE: Payment should be made on or before 20th of every month. Annual Return This return needs to be filed by 31st December of the next Financial Year. In this return, the taxpayer needs to furnish details of expenditure and details of income for the entire Financial Year. The population of these returns is explained by the following graphic: NOTE: 1. Tax .....

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e option to accept/reject additional invoices. Supplier s GSTR-1 gets amended to that effect. GSTR-3 Auto-populated from GSTR-1 and GSTR-2 Filed by 20th Payment can be made anytime before or on 20th Revision of Returns: The mechanism of filing revised returns for any correction of errors/ omissions has been done away with.The rectification of errors/ omissions is allowed in the subsequent returns. However, no rectification is allowed after furnishing the return for the month of September followi .....

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the due date for filing of the return (20th of every month). This is carried out by GSTN. 3. The details of every inward supply furnished by the taxable person (i.e. the recipient of goods and/or services) in form GSTR-2 shall be matched with the corresponding details of outward supply furnished by the corresponding taxable person (i.e. the supplier of goods and/or services) in his valid return. A return may be considered to be a valid return only when the appropriate GST has been paid in full .....

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