Guide to .. Tax Management ,Tax Planning and Tax Saving

General Note On Contents Of GSTR-1 , GSTR-2 and GSTR-3

Note the few important points for GSTR 1, 2 and 3 are described here ....

i.          For all B2B supplies (whether inter-State or intra-State), invoice level specified details will be uploaded.

ii          For all inter-State B2C supplies (including to non-registered Government entities, Consumer/person dealing in exempted/NIL rated/non GST goods or services), the suppliers will upload invoice level details in respect of every invoice whose value is more than 2,50,000. For invoices below this value, summary of supplies made for every State as the place of supply shall be filed. In this context, it is important to note that where address of the recipient is available on record, both in case of goods as well as services, other than a few exceptions, the place of supply is broadly the location of recipient and in all such cases, if the State of place of supply is different from the State where supplier is registered, it has to be treated as inter-state supply. If the address of recipient does not exist on record, the place of supply shall become the state in which the supplier is registered, making it an intra-state supply.

iii.        On recommendation of the Committee on IGST and GST on Imports with respect to the details about HSN code for goods and Accounting code for services to be captured in an invoice have been accepted with certain modifications. The same has been discussed in detail in separate chapter on classification of goods and services.

iv.        For all Intra- State B2C supplies (including non-registered Government entities, consumer/person dealing in exempted/NIL rated/non GST goods or services), consolidated sales (supply) details will be uploaded. However a dealer may at his option furnish invoice wise information in respect of exempted and nil rated supplies also.

v.         The supply information will also have details relating to the Place of Supply in order to identify the destination state as per the Place of Supply Rules where it is different from the location of the recipient.

vi         Details relating to supplies attracting Reverse charge will also be submitted.

vii        Details relating to advance received against a supply to be made in future will be submitted.

viii.      Details relating to taxes already paid on advance receipts for which
invoices are issued in the current tax period will be submitted.

ix.        Details relating to supplies exported (including deemed exports) both on payment of IGST as well as without payment of IGST would be submitted.

x.         There will be a separate table for submitting the details of revisions in relation to the outward supply invoices pertaining to previous tax periods. This will include the details of Credit/Debit Note issued by the suppliers and the differential value impact and the concomitant tax payable or refund/tax credit sought.

xi         There will be a separate table for effecting modifications/correcting errors in the returns submitted earlier.

xii        There will be a separate table for submitting details in relation to ML rated, Exempted and Non GST outward supplies to (both inter-state and intra-State) to registered taxpayers and consumers.

Related Topics ....
Who Needs To File GST Return ?
Types And Periodicity Of GST Return For Different Categories Of Taxpayers
Outward Supply Statement (GSTR 1/GSTR 1A) [Section 37 of CGST Act]
Inward Supply Statement (GSTR-2A/GSTR-2) [Section 38 of CGST/ UTGST]
Furnishing of Return (GSTR-3) [Section 39 of CGST Act]
Information in the Monthly GSTR-3 Return Form
Quarterly GST Return For Taxpayers Under Composition Scheme-GSTR 4
Non-Resident Foreign Taxpayers (GSTR-5) under GST Act. 2017
Input Service Distributor (ISD) Return (GSTR 6) under GST Act. 2017
Tax Deduction at Source (TDS) - GSTR-7 under Section 51 of CGST Act
Tax Collection at Source (TCS) GSTR-8 under Section 52 of CGST Act
Mismatch, Reversal And Re-Claim Of ITC And Reduction In Claim Of Output Tax Liability [ Secs. 42 And 43 Of CGST/UTGST]
Discrepancy In The Claim Of Input Tax Credit in Form GST MIS-1 and GST MIS-2
Discrepancy In The Claim Of Reduction In Output Tax Liability in Form GST MIS-3
General Note On Contents Of GSTR-1 , GSTR-2 and GSTR-3
Annual Return in FORM GSTR-9 And Audit Report in FORM GSTR-9B [Section 44 Of CGST/UTGST]
Levy Of Late Fee under GST [Section 46 OF CGST/UTGST]
INVALID RETURN in case GSTR-3 is Filed without Payment under GST Portal
IT Enablement For Filing Of GST Returns
Payment Of Taxes And Submission Of GST Return
Eligibility Conditions, Duties And The Obligations Of Goods Services Tax (GST) Practitioners
Rectification Of GST Return
Processing Of GST Returns By the GST Portal

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Guide & Taxation with Amendments made by the Finance Act. 2018 and the Rules as amended till Date.

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