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TMI BlogGST RETURNSX X X X Extracts X X X X X X X X Extracts X X X X ..... GST RETURNS - By: - Mr. M. GOVINDARAJAN - Goods and Services Tax - GST - Dated:- 29-6-2019 - - Returns Chapter VIII of the Central Goods and Services Tax Rules, 2017 ( Rules for short) provides for filing of returns by the registered persons. At the making the Rules, the following are the returns are to be filed initially- GSTR 1 Details of outwards supplies of goods or services; GSTR 1A Details of auto drafted supplies of goods or services; GSTR 2 Details of inward supplies of goods or services; GSTR 2A Details of supplies auto drafted from GSTR 1 or GSTR 5 to recipient; GSTR 3 Monthly return; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... GSTR 4 Quarterly return for registered person opting composition levy; GSTR 4A Auto drafted details for registered person opting composition levy; GSTR 5 R eturn by non-resident taxable person; GSTR 5A R eturn by persons providing online information and database access or retrieval services by a person located outside India made to non taxable persons in India; GSTR 6 - Return by Input Service Distributor; GSTR 6A Details of supplies auto drafted from GSTR 1 or GSTR 5 to Input Service Distributor; GSTR 7 R eturn by a person required to deduct tax at source; GSTR 7A - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax deduction at source certificate; GSTR 8 - S tatement for Tax collection at source; GSTR 11 Details of inward supplies of persons having Unique Identification Number (UIN). Amendments and returns Vide Notification No. 15/2017-Central Tax, dated 01.07.2017 (with effect from 01.07.2017), the Form GSTR 3B was replaced for the GSTR 3 for some issues; Vide Notification No. 21/2018 Central Tax, dated 18.04.2019 the Return form GSTR 10 has been introduced. This is Final Return. Section 45 provides that every registered person who is required to furnish a return under sub-section (1) of section 39 and whose registratio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n has been cancelled shall furnish a final return within three months of the date of cancellation or date of order of cancellation, whichever is later, in such form and manner as may be prescribed. Vide Notification No. 39/2018-Central Tax, dated 04.09.2018 , Return GSTR 9 (Annual return) has been introduced Rule 80 (1) provides that every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52 , a casual taxable person and a nonresident taxable person, shall furnish an annual return as specified under sub-section (1) of section 44 electronically in FORM GSTR-9 . The purpose of the GSTR-9 is to consolidate information previously furnished in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he monthly or quarterly returns. This implies that all monthly and quarterly returns must be filed before filing the annual return. Moreover, the GSTR-9 is not a rectification return but a consolidation return, which requires that data provided in monthly and quarterly returns must match the data on the GSTR-9 exactly. Vide Notification No. 39/2018-Central Tax, dated 04.09.2018, Return GSTR 9A (Annual return for composition tax payers) has been introduced. The proviso to Rule 80(1) provides for filing the annual return by composition tax payers. It is a summary of all quarterly returns previously filed by the composition taxpayer. Vide Notification No. 49/2018-Central Tax, dated 13.09.2018 , ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Return GSTR 9C has been introduced. Rule 80(3) provides that every registered person other than those referred to in the proviso to sub-section (5) of section 35 , whose aggregate turnover during a financial year exceeds two crore rupees shall get his accounts audited as specified under sub-section (5) of section 35 and he shall furnish a copy of audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C . New GST Returns The Finance Ministry introduced new forms with effect from 11.06.2019 which are available from July to September on trial basis and the said forms will become mandatory subsequently. The said forms are- GST RET 1 and two A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nnexure GST ANX 1 and GST ANX 2; Methodology GST RET 1 will replace GSTR 3B for all tax payers; During trial period from July to September, taxpayers will continue to file GSTR 1 and GSTR 3B For small taxpayers whose annual turnover is up to ₹ 5 crores (quarterly statement) will use GST ANX in January 2020, for October 2019 to December 2019 quarters; Small tax payer will stop filing GSTR 3B and start filing GST PMT 08 from October. They will file their first GST RET 01 for October December quarter from January 20, 2020. For large taxpayers having annual turnover of more than ₹ 5 crores GST ANX 1 will replace GS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TR 1 from October 2019; For October and November 2019 large tax payers will continue to file GSTR 3B on a monthly basis. They will file their first GST RET-1 for December by January 20, 2020; The trial offered from July to September 2019 is for taxpayers to familiarize themselves with the new return mechanism. From July, users will be able to upload using the GST ANX 1offline tool on a trial basis. They will also be able to view and download the inward supply invoices using the GST ANX -2 offline tool under the trial. The summary of inward supply invoices will also be available for the view on the common online portal. Invoices can be uploaded in GST ANX 1 on a continuous basis, both b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y large and small tax payers from October. GST ANX 2 may be viewed simultaneously during this period but no action will be allowed on it. From the inception of the GST portal the registered persons and professionals are facing many challenges and sufferings in filing the returns as required to be filed under the provisions of GST laws and the rules framed there under. Many mistakes and error crept over while filing the returns in the portal. Despite the complaints made by the registered person the solution in total has not been in hand. Because of this the time schedule given in the laws to be complied with could not be done by the registered persons. But the Revenue shows keen interest in issuing show cause notices, cau ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sing arrests, breezing of bank accounts etc., for recovery of the tax. The new forms are brought into the field by the Revenue and also give free trial for two months. The registered persons shall be educated in this system and also the Revenue officials so as to bring harmony between both of them by which the revenue under GST will increase without any hurdle and also make the business entities to do the business easily. - Reply By Ganeshan Kalyani as = Nice compilation Sir. Dated: 29-6-2019 Reply By KASTURI SETHI as = Sir, Your article is a ready reckoner. It should be placed on desktop to file returns properly. Dated: 30-6-2019 - Scholarly articles for knowledge sharing authors experts professionals Tax Managem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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