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

GST - States - TRADE CIRCULAR NO. 09/2017 - Dated:- 4-9-2017 - GOVERNMENT OF WEST BENGAL DIRECTORATE OF COMMERCIAL TAXES 14, BELIAGHATA ROAD, KOLKATA-700015 TRADE CIRCULAR NO. 09/2017 DATED: 04.09.2017 Subject: Sections 37, 38 and section 39 of the WBGST Act, 2017 (hereinafter referred to as the Act ) read with rules 59, 60 and 61 of the WBGST Rules, 2017 (hereinafter referred to as the Rules ) require every registered person to furnish details of outward supplies made in a month in FORM GSTR-1, .....

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ue payment of tax. 2. 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. 3. As per the provisions of sub-rule (5) of rule 61 of the Rules, the return in FORM G .....

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s detailed in succeeding paras. Furnishing of information in FORM GSTR-1 and FORM GSTR-2: 5. 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 replica of FORM GSTR-2 containing only those d .....

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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 summary details of inward supplies. Correction of err .....

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s 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. Action on the system-based reconciliation: 7. After the registered person has furnished the statement of inward supplies in FORM GSTR .....

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. 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 Part 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 in FORM GSTR-3B and FORM GSTR-3. The person can si .....

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onal 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 same would be added to his output tax liability an .....

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by the taxpayer in FORM GSTR-3B is less than 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 of ITC eligible as per the details furnished in FORM .....

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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 shall be carried forward to the next month s return to be .....

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ORM 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 FORM GSTR-3B was submitted on or before the due date. 12. Wher .....

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