gst - returns - estv.inestv.in/icai/10082017/ppt/gst returns - ca gaurav gupta.pdf · gst - returns...

GST - Returns

Institute of Chartered Accountants of India

August 10, 2017

Discussion by:

CA Gaurav Gupta

FCA, LLB, DISA

Filing of Return

under GST

GST Returns - Interface

GST - Returns CA Gaurav Gupta 3

Taxable Person

1

GSTN

Taxable Person

2

Central

Government

State

Government

Features:

Single Interface

IT based compliances

Dual review

Real time updates

Multi upload option

Lesser interaction with

authorities

Filing of Return

GSTR 1 Statement of Outward Supplies

GSTR 2 Statement of Inward Supplies

GSTR 3 Monthly GST Return

GSTR 5 Non-resident taxable persons

GSTR 6 Input Service Distributor (ISD) Return

GSTR 7 Tax Deduction at Source (TDS) return

GSTR 8 Tax Collection at Source (TCS) Return

GSTR 11 Inward Supplies for Government Bodies

Regular Returns - MonthlyGSTR 4 - Compounding taxpayer

Quarterly

GSTR 10 Final return after cancellation, within three month of cancellation

Unscheduled

GSTR 9 Annual GST Return

GSTR 9A Annual return for

Compounding Taxpayer

GSTR 9B Reconciliation

Statement

Annual

Filing of Return

• Self-assessment of tax liability by the registered taxable persons [Section 27(2)]

• Common e-Return for CGST, SGST & IGST

• Separate returns for different categories of taxpayers

Normal/Regular Taxpayer (GSTR-1, 2 ,3)

Compounding Taxpayer (GSTR- 4 & 8)

Foreign Non-Resident Taxpayer (GSTR-5)

Input Service Distributor (GSTR- 6)

Tax Deductor (GSTR-7)


10th / 15th / 20th day of the succeeding month

18th day after the end of quarter

20th of every succeeding month and 7th day after expiry of registration

13th day of the succeeding month

10th day of the succeeding month

Filing of Return

GSTR-1 for July 2017 - 1- 5th September, 2017

GSTR-2 for July 2017 - 6th - 10th September, 2017

GSTR-3 for July 2017 - 11th - 15th September, 2017

GSTR-3B for July 2017 - 20th August, 2017

GSTR-1 for August 2017 - 16th - 20th September, 2017

GSTR-2 for August 2017 - 21st - 25th September, 2017

GSTR-3 for August 2017 - 26th - 30th September, 2017

GSTR-3B for July 2017 - 20th September, 2017



Filing of Return

GSTR-1 GSTR-2

GSTR-3

GSTR-3

GSTR-9

To be filed

by 10th of

next month

To be filed

by 15th of

next month

To be filed by 20th of

next month

For Month 2

To be filed by

December 31 next

year


Filing of Return

Upload GSTR 1 –can include

missing invoice upto 17th

Auto generate GSTR 2A basis GSTR 1 filed by other Suppliers

Accept / Reject / Modify details

and final details to flow in GSTR 2

Gaps communicated in

Form 1A to Supplier

Exercise to Close by 17th

Generate Net Tax – Pay /

Carried forward in GSTR 3

GSTR 5 (NRTP)

GSTR 6 (ISD)

GSTR 7 (TDS)

GSTR 8 (TCS)


Who can file Return

Taxpayer

GST Practitioner

GSTR-1

1. Select Financial Year & Return Filing Period (Calendar Month)

2. Click SEARCH

Select GSTR 1 – Outward supplies made by the taxpayer by clicking on PREPARE ONLINE

GSTR-1

GSTR-1

Click on ADD INVOICE


Select GSTR 1 – Outward supplies made by the taxpayer by clicking on PREPARE ONLINE

GSTR-1

GSTR-1

10. Once all line items are added for a particular invoice, click SAVE to add the invoice


GSTR-1

19. After clicking SUBMIT, click on FILE

20. In case of private limited companies, LLPs, & FLLPs DSC is mandatory for filing returns

21. Click Confirm

22. Once user clicks on Confirm button, the Acknowledgement Reference Number (ARN) will be generated & the pop-up message will appear (as shown)

GSTR-1

In the GSTR 1, invoices are uploaded by the Supplier Taxpayer.

GSTR 1 needs to be filed even if there is no business activity (i.e. Nil

Return) during the period of return.

Invoice uploaded in GSTR 1 for a financial year can be modified before

filing of September GSTR 3 of next financial year or filing of annual

return, whichever is earlier.

An invoice can’t have two different places of supply. POS should be a

mandatory field in the inter-state invoice.

E-commerce sales transactions are captured explicitly in GSTR 1.

B2B & B2C transactions are captured separately in GSTR 1.


GSTR-2A

The details of outward supplies as furnished by the supplier shall be made

available to the buyer in Part A of FORM GSTR-2A

Before filing the GSTR 2, Receiver Taxpayer shall take action on all

the invoices received in the GSTR 2A.

Receiver Taxpayer can accept, reject, & modify any pending invoices received in

the GSTR 2A.

Also, receivers can park items for next tax period & such items will roll over to

next month’s GSTR 2.

Accepted & Modified Invoices will flow to GSTR 2 & in case of Rejection

only an intimation will be sent to Taxpayer & Tax Officer.


GSTR-2

1. From the landing page of returns, select return filing period (Financial Year + Month)

2. Click on PREPARE ONLINE

3. GSTR 2 can be filed only up to period of registration (i.e., till date of cancellation)

GSTR-2

- When you click on B2B Invoices, Supplier-Wise Summary will be available.

- Click on supplier to view invoice level details submitted by supplier or click on ADD MISSING

INVOICE DETAILS to upload any invoices not uploaded by supplier

GSTR-2

- When you click on supplier name, you will see the above screen

- There are 3 categories – uploaded by Supplier, uploaded by Taxpayer (Receiver), &

modified by Supplier

- Select one or multiple invoices to Accept & then to Reject (if any)

- Use the action button against each invoice to edit the invoice if necessary

GSTR-2

Once user clicks on File GSTR-2 button the below message for confirmation to proceed will appear.

GSTR-2

Acknowledgement number shall be given once the return is uploaded

GSTR-2

• GSTR 2 for the current tax period cannot be filed if GSTR 3 is not filed for the

immediately preceding period.

• GSTR 2 can be filed only after 10th of the succeeding month except in the case

of casual dealers.

• Interest will be calculated for taxpayers on a daily basis.

• GSTR 2 is editable until receiver taxpayer has acted upon all the invoices

received from all the supplier taxpayers (bulk approval/rejection is possible in

GSTR 2)

• GSTR 2 needs to be filed even if there is no business activity (i.e. Nil Return)

during the period of return.

GSTR-1A

In the event of any amendment to an invoice or addition (in GSTR 2 of

Receiver Taxpayer), the amended/added invoice(s) will auto populate

the GSTR 1A of the Supplier Taxpayer.

This will happen in case of any error or discrepancy in the invoice level

details at supplier’s end.

The Supplier Taxpayer can Accept or Reject the amended/added

invoice.

If Supplier Taxpayer accepts the amendment/addition, their GSTR 1 will

be auto-amended & liabilities will be updated accordingly.

In case they reject the amendment/addition, there will be no impact on

their GSTR 1 & associated liabilities.


GSTR-3

1. From the landing page of returns, select return filing period (Financial Year + Month)

2. Click on GENERATE under GSTR 3


GSTR-3

User can verify prefilled information

GSTR-3

User can cross verify the prefilled data of ITC Credit


GSTR-3

User can enter the amount for which refund to be claimed

GSTR-3

1. Details of tax paid are auto populated from Cash & Electronic Credit Ledger

- Details of tax paid are auto populated from Cash & Electronic Credit Ledger

- Payment can be made by utilizing Cash / Credit


GSTR-3

- Preview and Sign the return

• B2B transactions proposed on invoice level – GSTIN, Invoice No. & date, Value,

Description, rate of tax and value of Tax.

• B2C invoice wise only for transaction above specified limit

• HSN Codes (Chapter 1-98 of HSN) and Service Accounting Codes (Chapter 99 of

HSN)

• Separate Tables for Debit / Credit Notes / Input Service Distributor Credit / TDS etc

• GSTR 3 – Detail of Payment, Carried forward, interest, penalties etc

• Generation of Acknowledgement number of submission of returns


Filing of Return

Filing of Return

• Payment of due tax is must for filing valid return [Section 16(2)(d)]

o Returns can be submitted with short payment but shall be treated as invalid – not taken

into account for invoice matching & inter-Government fund settlement. Also, input tax

credit will not be allowed.

• First Return to be filed by all registered taxable persons [Section 40]

o Details of outward/inward supplies

o Filed till the end of month in which registration is granted

• Final Return [Section 45]

o To be filed by persons who applied for cancellation

o Furnished within 3 months of the date of cancellation or date of cancellation order,

whichever is later


Filing of Return

• Annual Return (GSTR-9) [Section 44]

o To be filed by every registered taxable person

except:

Input Service Distributor

TDS Deductor

Casual taxable person

Non-resident taxable person

o Last date - 31st December following the end of the

financial year

o Annual Return to be accompanied with:

- a audited copy of annual accounts and

- a reconciliation statement for taxable persons

who are required to get their accounts audited


Matching, reversal & reclaim of

ITC

Matching, reversal and

reclaim of ITC


Inward supply

Matched

Accepted

Not matched

Excess

Communicated to both persons

Added to output liability

of recipient

Duplication

Communicated to recipient

• Details of Inward supplies matched

with

o corresponding details of outward

supply furnished by the

corresponding taxable person,

o with the additional duty of customs

paid, and

o for duplication of claims of input

tax credit.

Matching, reversal and

reclaim of ITC


• Mismatch Report w.r.t.

the Taxable supplies will

be displayed:

• Supplier Mismatch

• Receiver Mismatch

• E-commerce

Mismatch

Form 3B

Form 3B


Form GSTR-3B

[ See Rule 61(5)]

Year 2017

Month July

1GSTIN

2Legal name of the registered person

- Fill GSTIN. Legal name shall be

autopopulated.- Fill Month and Year

Form 3B


- No invoice wise detail, only

consolidated values

3.1

Detail of Outward Supplies and Inward supplies liable to reverse

charges

Nature of Supplies

Total Taxable

Value Integrated Tax Central Tax State/ UT Tax Cess

1 2 3 4 5 6

( a) Outward taxable supplies (other than

zero rated, nil rated and exempted)

( b) Outward taxable supplies (zero

rated)

( c) Other outward supplies, (Nil rated,

exempted)

( d) Inward supplies (liable to reverse

charge)

( e) Non GST outward supplies

- Taxable Supplies of

goods and Services

Form 3B



consolidated values

3.1


charges

Nature of Supplies

Total Taxable


1 2 3 4 5 6




rated)


exempted)


charge)


- Exports and Supply to

SEZ

Form 3B



consolidated values

3.1


charges

Nature of Supplies

Total Taxable


1 2 3 4 5 6




rated)


exempted)


charge)


- Supplies on which

Reverse charge is to be

paid by recepient

3.23.2 Of the supplies shown in 3.1 (a) above, details of inter-State supplies made to unregistered persons,

composition taxable persons and UIN holders

Place of Supply (State/UT) Total Taxable Value Amount of Integrated Tax

1 2 3 4

Supplies made to Unregistered Persons

Supplies made to Composition Taxable Persons

Supplies made to UIN Holders

Form 3B


- To be given separately for

each state

- Supplies on which

recipient shall not

claim Input tax. UIN

may claim refund

4Eligible ITC

Details Integrated Tax Central Tax State/ UT Tax Cess

1 2 3 4 5

(A) ITC Available (whether in full or part)

(1) Import of goods

(2) Import of services

(3) Inward supplies liable to reverse

charge (other

than 1 & 2 above)

(4) Inward supplies from ISD

(5) All other ITC

(B) ITC Reversed

(1) As per rules 42 & 43 of CGST

Rules

(2) Others

(C) Net ITC Available (A) – (B)

(D) Ineligible ITC

(1) As per section 17(5)

(2) Others

Form 3B



consolidated values- To contain all Input

tax credit on purchase

of inputs, input

services and capital

goods

4Eligible ITC


1 2 3 4 5


(1) Import of goods



charge (other

than 1 & 2 above)


(5) All other ITC

(B) ITC Reversed


Rules

(2) Others


(D) Ineligible ITC


(2) Others

Form 3B



consolidated values

- Reversal of Credit

proportionate as

available on inputs

and capital goods

4Eligible ITC


1 2 3 4 5


(1) Import of goods



charge (other

than 1 & 2 above)


(5) All other ITC

(B) ITC Reversed


Rules

(2) Others


(D) Ineligible ITC


(2) Others

Form 3B



consolidated values

- Other ineligible

Credits

5

Values of exempt, nil-rated and non-GST

inward supplies

Nature of supplies Inter-State supplies Intra-State supplies

1 2 3

From a supplier under

composition scheme, Exempt and

Nil rated supplyt

Non GST supply

Form 3B


- No state wise reporting

- Other supplies on

which no ITC is

available

6.1Payment of Tax

Description Tax payable

Paid through ITC

Tax Paid TDS/TCS

Tax/Cess

paid in cash Interest

Late FeeIntegrated Tax Central Tax State/UT tax Cess

1 2 3 4 5 6 7 8 9 10

Integrated Tax

Central Tax

State/UT Tax

Cess

Form 3B


- Interest Late fee can only be

paid in cash

- Reconciliation of tax

payable and paid by

Cash / Credit

Disclaimer

This presentation has been prepared for internal use of ICAI and its members. The contents of this document are

solely for informational purpose. It does not constitute professional advice or a formal recommendation. The

presentation is made with utmost professional caution but in no manner guarantees the content for use by any

person. It is suggested to go through original statute / notification / circular / pronouncements before relying on the

matter given. The presentation is meant for general guidance and no responsibility for loss arising to any person

acting or refraining from acting as a result of any material contained in this presentation will be accepted by us.

Professional advice recommended to be sought before any action or refrainment.

CA Gaurav Gupta

Partner

MGS & Co.

LD- 65, Pitampura, Delhi – 110034

+91 11 32962487

+91 11 4571 8819

+91 98110 13940

[email protected]

Thank you

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