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Compiled By –
Surabhi Bansal | Executive | Indirect Tax Vertical
Asija & Associates LLP | Chartered Accountants
gst@asija.in
PERIODIC RETURN
Who is required to file PERIODIC Return and what are its due dates?
As per Section 39 of GST Law following Returns are required to be filled by the Following
Person on following dates:
Every registered person, other FORM GSTR-3 20 Days after the end of
than listed below Month
Composition Supplier FORM GSTR-4 18 Days after the end of
Quarter
Non-Resident Taxable Person FORM GSTR-5 With 7th Days from the last
day of registration
Person providing OIDAR FORM GSTR-5A 20 Days after the end of
services Month
Note :-
Every registered person who is required to File, either GSTR-3 or GSRT -4
shall furnish a return for Every tax period
whether or not any supplies of goods or services or both have been made
during such tax period. Thus NIL Return has to be filed.
FIRST RETURN?
Every registered person who has made outward supplies
In the period between the date on which he become liable to registration till the date
on which registration has been granted
Shall declare the same in the First Return furnished by him after grant of
registration.
FINAL RETURN?
Person who is required to file monthly return in Form GSTR-3
Shall file a Final Return
If its Registration is cancelled by the GST Officer,
The said Final Return shall be filed in FORM GSTR-10 electronically.
within 3 months of the date of cancellation or date of order of cancellation,
whichever is later
GST Wing | Asija & Associates LLP gst@asija.in
MONTHLY RETURN- GSTR - 3
GSTR-3
GSTR-1 GSTR-2
Monthly
Outward Inward
Return
Supply Supply
(Part A)
Part A of the Monthly Return shall Part B of the Monthly Return shall
contain details of: - contain details of: -
Total Turnover Tax Payable and paid
Outward Supplies and Interest, Late Fee and any other
amount (other than tax) payable
Inward supplies attracting Reverse
and paid
Charge
Refund claimed from Electronic
Input Tax Credit
cash ledger
Amount of output Tax for mismatch
Debit entries in electronic
Total Tax liability cash/Credit ledger for tax/interest
payment
Credit of TDS and TCS
Interest liability and Late fee
The details relating to outward supplies and credit or debit notes communicated
by supplier through his return (GSRT-1)
To prepare the details of his inward supplies and credit or debit notes and
May include therein, the details of inward supplies and credit or debit notes
received by him,
In respect of such supplies that have not been declared by the supplier under
through his return (GSRT-1)
FORM GSTR-1A
What is GSRT-1A ?
The details of supplies added, corrected or deleted by the recipient in his form GSTR-2
shall be auto-populated in form GSTR-1A and shall be made available to the supplier.
Day 0-10
GSTR-1: Details of outward
supply.
Day 16-17
Day 11-15
Supplier to accept or reject
the modifications GSTR-2: To be modified by
the recipient
& GSTR-1 gets amended.
Day 16
GSTR-1A: Modified details
made available to supplier.
GST Wing | Asija & Associates LLP gst@asija.in
Matching Concept – INPUT TAX CREDIT
The said Provisional credit of input tax shall be utilized only for payment of self
assessed output tax as per the return furnished in Form GSTR-3
The detail of every Inward supply furnished for a Tax Period in Form GSTR-3 shall be
Matched :
with the Corresponding details of outward supply furnished by the corresponding
registered person. (Supplier)
IGST paid on goods imported by him.
For Duplication of claims of input tax credit
Where the discrepancy is not rectified, an amount to the extent of discrepancy shall
be added to the output tax liability of the recipient in his return to be furnished in
FORM GSTR-3 for the month succeeding the month in which the discrepancy is made
available.
A recipient in whose output tax liability, amount has been added shall be liable to pay
interest at the rate of 18% from the date of availing of credit till the corresponding
additions are made.
The recipient shall be eligible to reduce from his output tax liability, the amount added
earlier to his output tax liability, if the supplier declares the details of the invoice or
debit note in his valid return which shall be communicated electronically to the
recipient making such claim in Form GST MIS-1.
Note:
The person who receives goods/services is termed as “recipient” whereas the person
who supplies goods or services is termed as “supplier”.
Instead of filing monthly return in Form GSTR-3, every registered person can
file statement in Form GSTR-3B containing the information of all the inward
and outward supply of goods/services by :
• The due dates of filing GSTR-1 and GSTR-2 for the month of July and August has
been changed through Notification No. 29/2017 – Central Tax dated 05/09/2017 to:
CA Ashish Kapoor
Partner
(ashish.kapoor@asija.in)
This presentation has been prepared to provide a gist of the applicable law
pertaining to GST as issued till date. (06/09/2017)
For detailed insight and for better understanding of the various provision of the
law, the said presentation should be read along with related provision of CGST
Act, IGST Act, SGST Act & related CGST rules, 2017.
We shall not be responsible for any decision taken on the basis of the said
presentation, without obtaining our professional guidance or consultation on
the matter for which reliance was made on this presentation.”