What are the current requirement before the amendment in relation to filing of GSTR 3b ,1, 2 and 3?
- taxpayers with annual aggregate turnover up to ` 1.5 Crore to file details of outward supplies in Form GSTR-1 on a quarterly basis.
- on monthly basis by taxpayers with annual aggregate turnover greater than ` 1.5 Crore.
- The return process has still not been streamlined and the GST Council has extended GSTR-3B filing requirement till end of March 31, 2021.
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What are the certain changes made to the requirement of filing returns as per the council meeting held on 5th October 2020?
- Effective 01.01.2021, taxpayers with turnover below ` 5 crores may file GSTR-3B and GSTR-1 on quarterly basis. Such taxpayers would, for the first two months of the quarter, have an option to pay 35% of the net tax liability of the last quarter, using an auto generated challan
- Effective 01.01.2021, due date of furnishing quarterly GSTR-1 by taxpayers to be revised to 13th of the month succeeding the quarter(These dates are applicable for from the quarter ending Dec 2020 and March 2021)
- Effective 01.01.2021, for monthly filers, auto-generation of liability from own GSTR-1 and ITC from suppliers’ GSTR-1s through the newly developed facility in GSTR-2B(For quarterly filers, the above will be made applicable from 01.04.2021)
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What are the various modes in which the GST returns can be filed?
- Taxpayers can file the statements and returns by various modes. Firstly, they can file their statement and returns directly on the GST common portal online.
- offline utilities have been provided by GSTN that can be used for preparing the statements offline after downloading the auto populated details and uploading them on the common portal.
- GSTN has also developed an ecosystem of GST Suvidha Providers (GSP) that will integrate with the common portal.
What is the definition of the term valid return as per section 2(117)?
means a return furnished under sub-section (1) of section 39 on which self-assessed tax has been paid in full [Section 2(117)].
What is the definition or meaning of Online information and database access or retrieval services as per section 2(17) of the IGST act?
Who is required to furnish the details of outward supplies? [Section 37(1) read with rule 59(1) of the CGST Rules]? - That is to file GSTR- 1?
The details of outward supplies (see definition) of both goods and services are required to be furnished by every registered person including casual registered person except the following:
What is the form of submission for submission of details of outward supplies? [Section 37(1) read with rule 59(1) of the CGST Rules]
The details of outward supplies are required to be furnished, electronically, in Form GSTR-1. Such
details can be furnished through the common portal(either directly or through a facilitation centre)
Further, a Nil GSTR-1 can be filed through an SMS using the registered mobile number of the taxpayer.
What is the due date for submission of GSTR-1 - what is the position for the quarter ended Dec 2020 and March 2021?
- GSTR-1 of a month can be filed any time between 1st and 10th day of the succeeding month. It may be noted that GSTR-1 cannot be filed during the period from 11th day to 15th day of month succeeding the tax period.
- The due date of filing GSTR-1 may be extended by the Commissioner/Commissioner of State GST/Commissioner of UTGST by way of notification.
- notifications are being issued by the Government to specify the due date for filing GSTR-1 for each of the quarter of a financial year. For the
quarters ending December 2020 and March 2021, - The due date for filing GSTR-1 has been notified as 13th of the month succeeding the end of quarter.
Will the taxpayer be able to file GSTR-1 before the end of the current tax period, if yes- are there any exceptions to this rule?
A taxpayer cannot file GSTR-1 before the end of the current tax period.
- *However, following are the exceptions to this rule:**
- *a.** Casual taxpayers, after the closure of their business
b. Cancellation of GSTIN of a normal taxpayer(only after confirming receipt of application for cancellation)
What are the general contents which has to be a part of GSTR 1?
GST is a destination-based consumption tax. Hence, the tax revenue is transferred to the State which is the place of supply of the particular transaction.
Since, the place of supply is crucial for determining the share of every State in the tax revenue, GSTR-1 also captures information relating to place of supply.
What kind of details of outward supplies are required to be furnished in GSTR-1? [Explanation to section 37 read with rule 59(2) of the CGST Rules]?
The registered person is required to furnish details of invoices and revised invoices issued in relation to supplies made by him to registered and unregistered persons during a month(also information about debit and credit notes has to be given)
Are there any distinctions made when it comes to filing GSTR -1 when the supply is made to a B2B or B2C? when invoice wise details has to be given? when giving consolidated details in the GSTR 1 is enough?
This table is very crucial in answering the questions and has to be kept in mind thoroughly.
What is the difference between an B2B transaction and B2C transaction?
B2B means business to business transaction. In such type of transactions, the recipient is also a registered supplier and hence, takes ITC.
B2C means business to consumer transaction. In such type of transactions, the recipient is consumer or unregistered and hence, will not take or cannot take ITC.
When can invoices be uploaded in the common portal? can we upload even before filing GSTR 1 or is there any restriction that it has to be done only after the succeeding quarter month within 10 days as seen previously?
Invoices can be uploaded at any time during the tax period and not just at the time of filing of GSTR-1
What is the requirement to upload the scanned copies of the invoices in the portal? what do we do when it comes to supply for which there is no consideration and which is deemed supply as per schedule 1?
- Scanned copies of invoices are not required to be uploaded. Only certain prescribed fields of information from invoices need to be uploaded e.g., invoice no., date, value, taxable value, rate of tax, amount of tax etc.
- In case there is no consideration, but the activity is a supply by virtue of Schedule I of CGST Act, the taxable value will have to be worked out as prescribed and uploaded.
Does the description of each item of the invoice need to be uploaded or is it enough to just give the HSN code ?
The minimum number of digits of HSN code that a filer has to upload depend on his turnover in the last year.
Position till 31.03.2021:
Upto 1.5 Crore - Nil
1.5 to 5 crore - 2 digits
more than 5 crores - 4 digits
Position from 01.04.2021:
Upto 5 crore - for B2B supply - 4 digits and for B2C supply - 4 digits(optional)
More than 5 crore - 6 digits (for both B2C or B2B and no options are provided)
What is the scope of amendment /correction entries when we are providing the details of outward supply furnished in the prior period amended?
- The details of original debit notes/ credit notes / refund vouchers issued by the tax-payer in the current tax period as also the revision in the debit notes/ credit notes / refund vouchers issued in the earlier tax periods are required to be shown in
- *Table 9 of the GSTR-1.**
- in Amendment Table, the suppler is required to give details of original invoice (No and Date), the particulars of which have been wrongly entered in GSTR-1 of the earlier months and are now sought to be amended.
What happens when a supplier altogether forgets to include the entire original invoice while furnishing the GSTR- 1 for a particular month?
In such cases also, he would be required to show the details of the said missing invoice which was issued in earlier month in the Amendment Table only, as such type of errors would also be regarded as data entry
error.
how to rectify the errors? - details of outward supply furnished in prior periods amended? [Section 37(3)]?
If the supplier discovers any error or omission, he shall rectify the same in the tax period during which such error or omission is noticed, and pay the tax and interest, if any, in case there is short payment, in the
return to be furnished for such tax period.
What is the time limit to rectify the aforesaid errors? details of outward supply furnished in prior periods amended? [Section 37(3)]?
Suppose for some reason, supplier could not make correction at the time of filing of GSTR-1 for the month of October then he can make such amendments in the subsequent periods. However, the maximum time limit within which such amendments are permissible is earlier of the following dates:
Date of filing of monthly return u/s 39(it is very important to note that this is not the due date that is mentioned) for the month of September following the end of the financial year to which such details pertain or
Date of filing of the relevant annual return
What is the requirement of filing of Nil GSTR 1 and what is the period for which the same can be filed?
Filing of GSTR-1 is mandatory for all normal and casual taxpayers, even if there is no business activity in any particular tax period. For such tax period(s), a Nil GSTR-1 is required to be filed.
A Nil GSTR-1 does not have any entry. For example, a Nil GSTR-1 for a tax period cannot be filed, if the taxpayer has made any outward supply (including exempt, nil rated or non-GST supplies).
A Nil GSTR-1 can be filed through an SMS using the registered mobile number of the taxpayer. GSTR-1 submitted through SMS is verified by registered mobile number-based OTP facility.
A taxpayer can file Nil GSTR-1, anytime from 1st of the month subsequent of the tax period onwards.
What is the requirement of filing GSTR 1 for a taxpayer opting for voluntary cancellation of GSTIN?
Taxpayer opting for voluntary cancellation of GSTIN has
to file GSTR-1 for active period.
What is the requirement for filing nil/normal GSTR 1 for taxpayer has been converted from a normal taxpayer to composition taxpayer?
GSTR-1 will be available for filing only for the period during which the taxpayer was registered as normal taxpayer. The GSTR-1 for the said period, even if filed with delay would accept invoices for the period prior to conversion.
What are the broad time limits for filing of GSTR -3B as per the provisions of section 39?
Form GSTR-3B has been notified as the monthly return under section 39(1). Presently, the due date of submission for GSTR-3B is being notified as 20th day of the month succeeding the relevant month.
The last date for filing of GSTR-3B for the taxpayers having annual turnover of ` 5 crore and above in the previous financial year would be 20th of the month
For the taxpayers having annual turnover below ` 5 crore in previous financial year, the due date for filing of GSTR-3B would be 22nd or 24th of the month
