GST Returns - Furnishing details of inward supplies

GST DAILY DOSE OF UPDATION BY CA PRADEEP JAIN

Returns

Section 33: Furnishing details of inward supplies

The proviso in the revised draft reads as follows:

(1) Every registered taxable person, other than an input service distributor or a nonresident taxable person or a person paying tax under section 9, section 46 or section 56, shall verify, validate, modify or, if required, delete the details relating to outward supplies and credit or debit notes communicated under sub-section (1) of section 32 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 sub-section (1) of section 32.

(2) Every registered taxable person, other than an input service distributor or a nonresident taxable person or a person paying tax under the provisions of section 9, section 46 or section 56 , shall furnish, electronically, the details of inward supplies of taxable goods and/or services, including inward supplies of goods or services on which the tax is payable on reverse charge basis under this Act and inward supplies of goods and/or services taxable under the IGST Act, and credit or debit notes received in respect of such supplies during a tax period after the tenth but on or before the fifteenth day of the month succeeding the tax period in such form and manner as may be prescribed:

PROVIDED that the Commissioner may, for valid and sufficient reasons, by notification, for such class of taxable persons as may be specified therein, extend the time limit for furnishing such details:

PROVIDED FURTHER that any extension of time limit approved by the Commissioner of [Central/State] Goods and Services Tax shall be deemed to be approved by the Commissioner of [State/Central] Goods and Services Tax.

(3) The details of supplies modified, deleted or included by the recipient and furnished under sub-section (2) shall be communicated to the supplier concerned in the manner and within the time as may be prescribed.

(4) The details of supplies modified, deleted or included by the recipient in the return furnished under sub-sections (2) or (4) of section 34 shall be communicated to the supplier concerned in the manner and within the time as may be prescribed.

(5) Any registered taxable person, who has furnished the details under sub-section (2) for any tax period and which have remained unmatched under section 37 or section 38, shall, upon discovery of any error or omission therein, rectify such error or omission in the tax period during which such error or omission is noticed in such manner as may be prescribed, and shall pay the tax and interest, if any, in case there is a short payment of tax on account of such error or omission, in the return to be furnished for such tax period:

PROVIDED that no rectification of error or omission in respect of the details furnished under sub-section (2) shall be allowed after furnishing of the return under section 34 for the month of September following the end of the financial year to which such details pertain, or furnishing of the relevant annual return, whichever is earlier.

When compared with the old draft, following changes may be noticed:
1. Nonresident taxable person, input service distributor, person paying tax under composite levy scheme, deducting TDS/collecting TCS are not required to furnish the details regarding of input supply of goods & services. 
2. Further return is also to be filed after tenth but on or before fifteenth day of the succeeding month 
3. The commissioner may notify classes of person, for whom time limit for filing return may be extended. 
4. It is deemed that if limit for filing the return is extended by the Central/State Commissioner is also extended by the State/ Central Commissioner 
5. If any recipient has changed any details of the invoice in the return of inward supplies, he has to inform the same to the supplier of goods/service. 
6. If any recipient has changed any details of the invoice in the monthly return as per section 34, he has to inform the same to the supplier of goods/service.

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