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System based reconciliation of information furnished in FORM GSTR-1 and FORM GSTR-2 with FORM GSTR-3B.

GST - States - 05/2017-GST - Dated:- 4-9-2017 - GOVERNMENT OF ASSAM OFFICE OF THE COMMISSIONER OF TAXES, ASSAM KAR BHAWAN DISPUR, GUWAHAT1-6 CIRCULAR NO. 05/2017-GST Dated Dispur the 4th September, 2017. Sub : No. CT/GST-15/2017/11.-Sections 37, 38 and section 39 of the Assam GST Act, 2017 (hereinafter referred to as 'the Act') read with rules 59, 60 and 61 of the Assam GST Rules, 2017 (hereinafter referred to as 'the Rules') require every registered person to furnish details of .....

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ths by the notified due dates after making the due payment of tax. Registered persons opting to utilize transitional credit available under section 140 of the Act read with the rules made thereunder for discharging the tax liability for the month of July, 2017 were required to file FORM GST TRAN-1 on or before 28th August, 2017. This transitional credit was to be credited to the electronic credit ledger and be available for discharging the tax liability. As per the provisions of sub-rule (5) of .....

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nished in FORM GSTR-3 and FORM GSTR-3B is detailed in succeeding paras. (1) Furnishing of information in FORM GSTR- 1 & FORM GSTR-2: It may be noted that after the registered person has filed his return in FORM GSTR-3B and the statement of outward supplies in FORM GSTR-1, the inward supplies shall be auto drafted for all registered persons (corresponding recipients of supply) and made available to them in FORM GSTR-2A as per sub-rule (3) of rule 59 of the Rules. FORM GSTR-2A is the exact rep .....

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like details of imports, details of supplies attracting reverse charge that have been received by registered person; (c) providing details of supplies received from composition suppliers and exempt, nil-rated & non GST inward supplies; (d) providing details of advances paid on inward supplies attracting reverse charge, if any, along with adjustments; (e) providing details of reversal of ITC as per the provisions of rules 37, 39, 42 and 43 of the Rules, if any; and, (f) providing HSN wise sum .....

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supplies or the eligible ITC have been reported less or more than what they should have been, the same may be reported correctly in the FORM GSTR-2. This will get reflected in the revised output tax liability or eligible ITC, as the case may be, of the registered person. The details furnished in FORM GSTR-1 and FORM GSTR-2 will be auto-populated and reflected in the return in FORM GSTR-3 for that particular month. (3) Action on the system-based reconciliation: After the registered person has fur .....

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information furnished in FORM GSTR-1 and FORM GSTR-2. The tax paid through the electronic cash ledger and electronic credit ledger in the return in FORM GSTR-3B shall be displayed by the system in column (3) to (7) of the Table 12 of Pan B of FORM GSTR-3. Where there is no difference between the details of output tax liability and eligible input tax credit furnished in FORM GSTR-3B and the details furnished in FORM GSTR-1 and FORM GSTR-2, the amount of tax payable and tax paid shall be the same .....

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ore than what was shown in FORM GSTR-3B, the additional amount of tax payable can be paid by debiting the electronic cash or credit ledger as per the provisions contained in section 49 of the Act along with applicable interest on delayed payment of tax starting from 26th day of August, 2017 till the date of debit in the electronic cash or credit ledger. If the eligible ITC claimed by the person in FORM GSTR-2 is less than the ITC claimed and utilised by the registered person in FORM GSTR-3B, the .....

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aim of eligible ITC: Where the eligible ITC claimed by the taxpayer in FORM GSTR-3B is less that the ITC eligible as per the details furnished in FORM GSTR-2, the additional amount of ITC shall be credited to the electronic credit ledger of the registered person when he submits the return in FORM GSTR-3 [in accordance with clause (c) of sub-rule (6) of rule 61]. However, simultaneously, if there is an increase in the output tax liability, the registered person can utilise this additional amount .....

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onding reduction in the input tax credit to which he is entitled, the excess shall be carried forward to the next month's return to be offset against the output liability of the next month by the taxpayer when he signs and submits the return in FORM GSTR-3. However, simultaneously, if there is a decrease in the eligible input tax credit, the same will be adjusted against the above mentioned reduction in output tax liability and the balance, if any, of the reduction in output tax liability sh .....

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FORM GSTR-1, FORM GSTR-2 and sign and submit the return in FORM GSTR-3 along with the payment of the due taxes as per the provisions of section 49 of the Act. However, since the payment was not made on or before the due date, the registered person shall be liable for payment of interest on delayed payment of tax starting from 26th day of August, 2017 till the date of debit in the electronic cash and / or credit ledger but will not be liable to pay any late fee provided the requisite return in FO .....

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