CBEC releases draft Rules and Forms for GST refund and returns

• Draft Return Rules
• Draft Return Formats
  • GSTR 9B
  • ITC Mismatch Report
• Draft Refund Rules
• Draft Refund Formats

GST returns and refunds: new draft rules require electronic filing, automated invoice-level matching and ITC reconciliation. Draft rules establish an electronic Common Portal regime: suppliers file outward supplies in FORM GSTR-1; recipients receive Part A data in FORM GSTR-2A and must prepare FORM GSTR-2 to reconcile, accept or amend inputs. Monthly, quarterly, annual and special returns are prescribed in standardized forms; invoice-level matching of GSTINs, invoice identifiers, taxable values and tax amounts governs acceptance of input tax credit and reductions in output liability, with mismatches, duplications and e commerce discrepancies communicated electronically for rectification and, if unrectified, added to output tax in subsequent GSTR-3 filings.