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Presentations on GST - Return
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....resentations on GST - Return <br>GST<br>Dated:- 10-8-2017<br><BR>Presentations on GST - Return ============= Document 1Returns for Taxpayers Designed and Developed by GSTN Hv Goods and Services Tax CH CH ã KD ã ã 业 Returns for Taxpayers Some Highlights Designed and Developed by GSTN Single Interface ✓ One interface for all return filing Easy filing through multiple modes Continuous Data of Invoices & Instant Updates Daily invoice Upload B2B Credit Verification ✓ Suppliers & receivers required to validate each others invoices for seamless flow of credit Revision of Earlier Declared Entries Slide 2 Returns for Taxpayers Module Objectives After completing this module, you will understand: â– Overview of Returns â– Creation & submission of the monthly GSTR 1 & GSTR 2 â– Create GSTR 3 â– Identify who files GSTR 4, GSTR 5, GSTR 6, GSTR 7 & GSTR 8 and its periodicity â– Ledger - - Electronic Cash Ledger (ECL) Electronic Credit Ledger - Tax Liability Register - - Mismatch Reports - Utilise cash & ITC Designed and Developed by GSTN Slide 3 Returns for Taxpayers Designed and Developed by GSTN Overview of GST Returns Monthly GSTR 1 Sta....
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....tement of Outward Supplies GSTR 2 Statement of Inward Supplies GSTR 3 Monthly GST Return GSTR 5 Non-resident taxable persons GSTR 6 Input Service Distributor (ISD) Return GSTR 7 Tax Deduction at Source (TDS) return GSTR 8 Tax Collection at Source (TCS) Return GSTR 11 Inward Supplies for Government Bodies Quarterly GSTR 4 Compounding taxpayer Annual GSTR 9 Annual GST Return GSTR 9A Annual return for Compounding Taxpayer GSTR 9B Reconciliation Statement Unscheduled GSTR 10 Final return after cancellation, within three month of cancellation Page 4 Returns for Taxpayers Designed and Developed by GSTN GSTR 1, GSTR 2, & GSTR 3: Due Date for Filing GSTR 1 GSTR 2 GSTR 3 10th of every month 15th of every month 20th of every month Please note: The tax period for the monthly deadlines is the previous calendar month Page 5 Returns for Taxpayers Designed and Developed by GSTN GSTR 4, GSTR 5, & GSTR 6: Due Date for Filing GSTR 4 18th of the month following end of financial quarter GSTR 5* GSTR 6 20th of every month 13th of every month *Important: For GSTR 5 non-resident taxable persons, final return must be filed by the 20 th of the succeeding calendar month or within 7 days of expiration of reg....
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....istration whichever is earlier. Please note: The tax period for the monthly deadlines is the previous calendar month Page 6 Returns for Taxpayers Designed and Developed by GSTN GSTR 7, GSTR 8, & GSTR 9: Due Date for Filing GSTR 7 GSTR 8 GSTR 9* 10th of every month 10th of every month 31st December *For previous financial year Please note: The tax period for the monthly deadlines is the previous calendar month Page 7 Returns for Taxpayers Who can file GST Returns? Designed and Developed by GSTN Taxpayer Tax Practitioners Page 8 Returns for Taxpayers GST Portal www.gst.gov.in Where can I file my GST Returns? Through a GSP GST Suvidha Provider Designed and Developed by GSTN GST Offline Utility Software Page 9 Returns for Taxpayers What is a GSP? Designed and Developed by GSTN â– â– â– â– GST Suvidha Provider (GSP) is an alternate mechanism available for taxpayers to facilitate uploading invoices as well as filing returns & act as a single stop shop for GST related services. Currently there are 34 approved GSPs (including companies like Tally, TCS, Deloitte) GSPs are free to charge the taxpayers depending on the services they offer. Agreements between tax payers & G....
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....SPs shall be decided between them exclusively. Taxpayers can choose services of one or multiple GSP based on their requirement & offerings of the GSP. GSP can create their own unique products like Mobile apps, User interface, ERP solutions to help their clients be GST compliant. GSPs will communicate data directly to GST Core system (& not through GST website available for all taxpayers). Page 10 Slide 10 Returns for Taxpayers Designed and Developed by GSTN â– GSTR 1: Statement for Outward Supplies In the GSTR 1, invoices are uploaded by the Supplier Taxpayer. Invoice uploaded in GSTR 1 for a financial year can be modified before filing of September GSTR 3 of next financial year or filing of annual return, whichever is earlier. E-commerce sales transactions are captured explicitly in GSTR 1. B2B & B2C transactions are captured separately in GSTR 1. Page 11 Returns for Taxpayers Designed and Developed by GSTN GSTR 1: Statement for Outward Supplies A Supplier Taxpayer is required to prepare GSTR 1 wherein they will report invoice level information. GSTR 1 needs to be filed even if there is no business activity (i.e. Nil Return) during the period of return. Supplier Taxpayer will....
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.... file return in electronic form only. Invoices for IGST, CGST/SGST will be issued separately (in other words, one invoice can't have IGST as well as SGST/CGST). â– An invoice can't have two different places of supply. POS should be a mandatory field in the inter-state invoice. â—‰ Bulk upload facilities are available for suppliers who have above specified entries per month. Page 12 Returns for Taxpayers Designed and Developed by GSTN GSTR 2A: Draft of GSTR 2 The details of outward supplies furnished by the supplier shall be made available electronically to the registered persons (recipients) in Part A of FORM GSTR-2A, through the Common Portal after the due date of filing of FORM GSTR-1. GSTR 2A contains an auto populated list of all invoices received from all Suppliers Taxpayers' corresponding returns for the given tax period; these invoices can be acted upon directly in the GSTR 2 before filing. Before filing the GSTR 2, Receiver Taxpayer shall take action on all the invoices received in the GSTR 2A. Receiver Taxpayer can accept, reject, & modify any pending invoices received in the GSTR 2A. Also, receivers can park items for next tax period & such items will roll over ....
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....to next month's GSTR 2. Accepted & Modified Invoices will flow to GSTR 2 & in case of Rejection only an intimation will be sent to Taxpayer & Tax Officer. Page 13 Returns for Taxpayers Designed and Developed by GSTN GSTR 2: Statement of Inward Supplies Receiver Taxpayer can Add any missing invoices in the GSTR 2. â– GSTR 2 is editable until receiver taxpayer has acted upon all the invoices received from all the supplier taxpayers (bulk approval/rejection is possible in GSTR 2). Receiver taxpayer may choose to not act upon one or more invoices which will carry the 'pending' status & may be acted upon in subsequent tax periods. After executing all the necessary actions, receiver taxpayer can file the GSTR 2. GSTR 2 needs to be filed even if there is no business activity (i.e. Nil Return) during the period of return. Receiver Taxpayer will file return in electronic form only. GSTR 2 can be filed only after 10th of the succeeding month. Why? Page 14 Returns for Taxpayers Designed and Developed by GSTN GSTR 1A: Addendum to GSTR 1 In the event of any amendment to an invoice or addition (in GSTR 2 of Receiver Taxpayer), the amended/added invoice(s) will auto populate the GSTR 1A of t....
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....he Supplier Taxpayer. This will happen in case of any error or discrepancy in the invoice level details at supplier's end. â– The Supplier Taxpayer can Accept or Reject the amended/added invoice. If Supplier Taxpayer accepts the amendment/addition, their GSTR 1 will be auto-amended & liabilities will be updated accordingly. In case they reject the amendment/addition, there will be no impact on their GSTR 1 & associated liabilities. Page 15 Returns for Taxpayers Designed and Developed by GSTN GSTR 1A: Addendum to GSTR 1 What will happen in case the Supplier Taxpayer rejects the amended invoice? It will lead to a mismatch. However, there are two possible scenarios: 1. Upward - Mismatch Report will be created - 2. Downward Supplier Taxpayer, Receiver Taxpayer & Tax Official(s) will be intimated Page 16 Returns for Taxpayers Designed and Developed by GSTN GSTR 3: The Consolidated Monthly Return Hi, I am Vishal & I own an automobile workshop. I file GSTR 1 for spare parts & services I supply to various customers. I file GSTR 2 for all the spare parts I receive from various automobile companies. I file GSTR 3, on the basis of GSTR 1 & GSTR 2 so my tax liability during the month is ....
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....calculated while filing of GSTR 3. Page 17 Returns for Taxpayers Designed and Developed by GSTN GSTR 3: The Consolidated Monthly Return Hi, I am Sumit, I run a transport agency. I have drivers on contract from ABC Drivers agency & I provide cab services for inter and intra state travels. I file GSTR 1 & GSTR 2 every month. I file GSTR 3, on the basis of GSTR 1 & GSTR 2 so my tax liability during the month is calculated while filing of GSTR 3 Page 18 Returns for Taxpayers Designed and Developed by GSTN GSTR 3: The Consolidated Monthly Return Precondition - GSTR 1 & GSTR 2 must be filed successfully. Why? Summary of business transaction details for the tax period auto populated on the basis of GSTR 1 & GSTR 2. Must be filed even if there is no business activity (NIL Return). Page 19 Returns for Taxpayers GSTR 1 Monthly Returns: Data Flow GSTR 2/2A OF SUBSEQUENT TAX PERIOD MODIFY ADDED INVOICE Designed and Developed by GSTN GSTR 2/2A GSTR 5 (NRTP) GSTR 6 (ISD) GSTR 7 (TDS) GSTR 8 (TCS) GSTR 1A ACCEPT MODIFY or ADD REJECT ACCEPT or MODIFY REJECT MISMATCH FILE GSTR 2 Page 20 Returns for Taxpayers Designed and Developed by GSTN Filing GSTR 1: Demonstration Using Application - Preconditio....
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....ns 1. Taxpayer should be a registered taxpayer & have an Active GSTIN for the given tax period. 2. Taxpayers should have valid login credentials (i.e., User ID & password). 3. For cancelled GSTIN, taxpayer will have an option to file GSTR 1 for tax period during which there was business activity after the date of application for cancellation. 4. Taxpayer should have an active (unexpired & unrevoked) digital signature certificate (DSC) in case of Taxpayer for whom digital signing is mandatory. 5. Taxpayer should have a valid Aadhar number with mobile number if they opt for e-sign. Page 21 Returns for Taxpayers Designed and Developed by GSTN Filing GSTR 1: Demonstration Using Application Page 22 Returns for Taxpayers Designed and Developed by GSTN Filing GSTR 1: Demonstration Using Application - Business Rules 1. GSTR 1 for the current tax period cannot be filed if GSTR 3 is not filed for the immediately preceding period. 2. GSTR 1 can be filed only after completion of the calendar month except in the case of casual dealers 3. Interest will be calculated for taxpayers on be daily or monthly based on final version of the law. Page 23 Returns for Taxpayers Designed and Developed by GST....
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....N Filing GSTR 2: Demonstration Using Application Page 24 Returns for Taxpayers Designed and Developed by GSTN Filing GSTR 2: Demonstration Using Application - Preconditions 1. Taxpayer should be a registered taxpayer & have an Active GSTIN for the given tax period. 2. Taxpayers should have valid login credentials (i.e., User ID & password) 3. For cancelled GSTIN, taxpayer will have an option to file GSTR 2 for period after the date of application for cancellation; it will not be mandatory. 4. Taxpayer should have an active (unexpired & unrevoked) digital signature (DSC) in case of Taxpayer for whom digital signing is mandatory. 5. Taxpayer should have a valid Aadhar number with mobile number if they opts for e-sign. Page 25 Returns for Taxpayers Designed and Developed by GSTN Filing GSTR 2: Demonstration Using Application - Business Rules 1. GSTR 2 for the current tax period cannot be filed if GSTR 3 is not filed for the immediately preceding period. 2. GSTR 2 can be filed only after 10th of the succeeding month except in the case of casual dealers. 3. Interest will be calculated for taxpayers on a daily or monthly depending upon on final version of the law. Page 26 Returns for Tax....
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....payers Designed and Developed by GSTN Filing GSTR 3: Demonstration Using Application - Preconditions 1. Taxpayer should be a registered taxpayer & have an Active GSTIN for the given tax period. 2. Taxpayers should have valid login credentials (i.e., User ID and password) 3. Taxpayer should have an active (unexpired & unrevoked) digital signature (DSC) in case of Taxpayer for whom digital signing is mandatory. 4. Taxpayer should have a valid Aadhaar number with mobile number if they opts for e-sign. 5. GSTR 1 & GSTR 2 for the given period must be filed successfully 6. GSTR 3 relating to earlier periods should be filed Page 27 Returns for Taxpayers Designed and Developed by GSTN Filing GSTR 3: Demonstration Using Application - Business Rules 1. Post generation of GSTR-3, the liability (tax/interest/late fees/penalty) of the Taxpayer & ITC will be computed & updated in then Tax liability Register & Electronic Credit Ledger. 2. If GSTR 3 is filed with Short/No Payment of liability, it will be treated as an Invalid Return & mismatch of recipients will be generated as if GSTR 3 for that tax period has not been filed. Page 28 Taxpayers' Interface 1 Designed and Developed by GSTN Taxpayer'....
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....s Interface: View E-filed Returns Taxpayer logs into GST portal & clicks 'View e-filed Returns' in Returns section under the Services menu Home Services â–¼ Notifications & Circulars Acts & Rules â–¼ Downloads â–¾ Registration Ledgers Returns Payments User Services GSTR 1 2 On making the selection, the taxpayer will be able to view returns filed for a selected period as per the criteria in the screenshot Outward supplies made by taxpayer GSTR 3 Monthly return GSTR 5 Periodic return by Non-Resident Foreign Taxpayer GSTR 7 Return for Tax Deducted at Source GSTR 9 E-Commerce Entities GSTR 11 Annual Return by Compounding Taxpayers View e-filed Returns GSTR 2 Inward supplies received by a taxpayer GSTR 4 Quarterly return for compounding Taxpayer GSTR 6 Return for Input Service Distributor (ISD) 3 GSTR 8 Annual Return GSTR 10 Government Entities GSTR 12 Final Returns Track Return Status Based on selected criteria, system will display valid returns filed during that period View Mismatch Reports Taxpayers' Interface 1 Taxpayer's Interface: Track Return Status 2 3 Designed and Developed by GSTN Taxpayer logs into GST portal & clicks 'Track Return Status' in Returns section under....
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.... the Services menu Search page (screenshot) will allow taxpayer to search for Return through Status, Filing Period or ARN Relevant result(s) are displayed & taxpayer can check the status Home Services Notifications & Circulars Acts & Rules Downloads â–¾ Registration GSTR 1 Ledgers Returns Outward supplies made by taxpayer GSTR 3 Payments User Services GSTR 2 Inward supplies received by a taxpayer GSTR 4 Quarterly return for compounding Taxpayer GSTR 6 Return for Input Service Distributor (ISD) Monthly return GSTR 5 Periodic return by Non-Resident Foreign Taxpayer GSTR 7 Return for Tax Deducted at Source GSTR 9 E-Commerce Entities GSTR 11 Annual Return by Compounding Taxpayers View e-filed Returns View Mismatch Reports GSTR 8 Annual Return GSTR 10 Government Entities GSTR 12 Final Returns Track Return Status Returns for Taxpayers Designed and Developed by GSTN GSTR 4: Composition Taxpayer Return Simplified Quarterly Return to be submitted by the Composition Taxpayer Similar to GSTR 2, details of inward supplies will be auto populated from counterparty GSTR 1 & GSTR 5 in GSTR 4A (equivalent of GSTR 2A) â– The composition tax payer will provide the summary of the outward sup....
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....plies liable for composition levy GSTR 4 needs to be filed even if there is no business activity (Nil Return) during the period of return Page 31 Returns for Taxpayers Designed and Developed by GSTN GSTR 5: Non-resident Foreign Taxpayers Non-Resident Foreign Taxpayers shall be required to file GSTR 5 up to 20th of next month or within a period of 7 days from date of expiry of registration whichever is earlier â– Cannot avail ITC on local procurement Flow will be similar to GSTR 1 & so the GSTR 5 will auto populate GSTR 2A/4A/6A of Receiver Taxpayers Page 32 Returns for Taxpayers Designed and Developed by GSTN â– GSTR 6: ISD Return The Input Service Distributor is responsible for the distribution of Input Tax Credit to various units of the same legal entity having different GSTINS therefore, Taxpayer intending to distribute input services will be required to take separate registration as an ISD The ISD receives input service invoices on which it can avail ITC and then distribute the same to various other locations based upon the consumption of the services or any other method as the law may prescribe â– The GSTR 6 is auto populated from the draft GSTR 6A which is in t....
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....urn auto populated by GSTR 1/5 ISD can Accept, Amend, & Reject the entries in GSTR 6A & upon submission of draft GSTR 6A, GSTR 6 will be created & subsequently filed Page 33 Returns for Taxpayers Designed and Developed by GSTN GSTR 7: TDS Return ■A TDS return is a monthly statement of mandatory tax deductions made at source by a receiver (as per the laws proposed to be made in the GST regime) to a supplier's payment. A taxable person has a legal obligation: ➤ To declare their TDS liability for a given period (monthly) in the TDS return; ➤ Furnish details of the TDS paid under four major heads viz., CGST, SGST, IGST & Cess in accordance with that return, & Page 34 Returns for Taxpayers Designed and Developed by GSTN GSTR 8: TCS Return GSTR 8 is a return filed by e-commerce portals who are required to do Tax Collection at Source on Net Supplies of the Goods or Services ■Amount collected has to be deposited to appropriate Central/State Government ■However, e-commerce portals supplying their own goods &/or services through their own portal will not be required to file this return in respect of such supplies ■Filing of NIL Return is not mandatory fo....
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....r E-commerce operators. Current rate of TCS is @ 1% Page 35 Ledger Designed and Developed by GSTN Electronic Cash Ledger Electronic Cash Ledger is an e-Wallet for all your financial transactions with the GST It is updated in near real time Electronic Cash Ledger captures all the details of amounts deposited to the exchequer & utilization of such amounts for the payment of tax liability, demand on account of mismatch, interest, penalties, fees etc. Deposits + Payments + Record Keeping Slide 36 Ledger Designed and Developed by GSTN . . + Electronic Cash Ledger Cash Receipts (Credit) IGST, CGST, SGST, Cess Cash receipts using Online/other mode TDS . TCS Liability Payments (Debit) IGST, CGST, SGST, Cess • Tax • Interest • Penalty • Fee • Other Amounts Slide 37 Ledger Electronic Cash Ledger: Important Note Designed and Developed by GSTN Date of Deposit: The date on which taxpayer deposits funds into the Electronic Cash Ledger Date of Payment: The date on which funds are utilised from the Electronic Cash Ledger to make a GST payment Important: Date of deposit is not considered when calculating liabilities; only Date of Payment is considered This means even i....
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....f you have funds in your Electronic Cash Ledger, until you utilise these funds towards a payment, they will not be considered as payments made against your liabilities Slide 38 Ledger Designed and Developed by GSTN Electronic Cash Ledger: Path Location of Electronic Cash Ledger on the Taxpayer Dashboard (post-login) Goods and Services Tax Skip to Main Content â— A+ A- * GURVINDER SINGH KAM Dashboard Services â–¼ Notifications & Circulars â–¼ Acts & Rules â–¼ Downloads â–¼ Registration Ledgers Electronic Cash Ledger Returns Payments User Services Tax Liability Register 1. Click on Services Ledger Balance Download > 26/08/2016 Kar 29A IGST (*) CGST() SGST (*) 2. Viev Liability related to Return 90,000 1,15,000 1,15,000 Cash 40,000 20,000 20,000 Notic 3. Click on Ledgers Click on Electronic Cash Ledger Input tax Credit 70,000 80,000 80,000 (Net Liability)/Net Credit 20,000 (15,000) (15,000) Liability other than Return 0 0 0 FILE RETURNS > PAY TAX > UTILIZE ITC / CASH > Supplier Summary for Current Period Receiver Your Upcoming Events and Tasks Timeline > Saved Forms Received Show cause notice for cancellation of Registration from Commissioner, Bangalore Slide 39 L....
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....edger Electronic Cash Ledger: Landing Page Goods and Services Tax Dashboard Services ▼ Notifications & Circulars ▼ Acts & Rules ▾ Downloads ▼ Dashboard > Electronic Cash Ledger Electronic Cash Ledger Financial Year 2016-2017 Ledger Views 1. Summary Ledger 2. Detailed Ledger Skip to Main Content A+ A- • GURVINDER SINGH KAM → English GURVINDER SINGH KAMRA 05AOVPK3548L1ZB Month January Cash Balance * 12,22,30,027 About GST Website Policies Related Sites Help Contact Us Designed and Developed by GSTN Ledger Balance Ledger Views . Summary View Detailed View Slide 40 Ledger Dashboard Services Electronic Cash Ledger: Summary View Notifications & Circulars Dashboard Electronic Cash Ledger Electronic Cash Ledger - Summary Select Period Acts & Rules Downloads Designed and Developed by GSTN English GURVINDER SINGH KAMRA 05A0VPK3548L1ZB From:⚫ 01/01/2017 To: 11/01/2017 Viewing summary Ledger details from 01/01/2017 to 11/01/2017 Credit (A) Date Opening Balance 20/12/2016 Reference No. Tax Period Description indicates mandatory fields - CGST (*) SGST (*) Total (*) You can Download & Print the ledger anytime Total Amount Available (A) Closing Balance as ....
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....on 11/01/2017 Date 11/01/2017 Opening Balanc 3,068 3,068 10,00,01,058 10,00,01,058 2,22,25,901 2,22,25,901 12,22,30,027 12,22,30,027 Tax Period Description IGST (*) Closing Balance 3,068 CGST (*) 10,00,01,058 SGST (*) 2,22,25,901 Total (*) 12,22,30,027 BACK COLLAPSE ALL SAVE AS PDF Slide 41 Ledger Designed and Developed by GSTN Electronic Cash Ledger: Detailed View Skip to Main Content Goods and Services Tax Dashboard Services â–¼ Notifications & Circulars Acts & Rules â–¾ Downloads â–¼ GURVINDER SINGH KAM Dashboard Electronic Cash Ledger Electronic Cash Ledger - Detailed Select Period From: 01/01/2017 To: 11/01/2017 Viewing Detailed Ledger details from 01/01/2017 to 11/01/2017 Debit No./ CIN Date 20/12/2016 11/01/2017 Particulars Debit GURVINDER SING KAME GO English SAC PK3548L1ZB indicates mandatory fields You can Download & Print the ledger anytime openingBalance Closing Palance JUST (*) CGST (*) 3,068 10,00,01,058 3,068 10,00,01,058 SGST (*) 2,22,25,901 2,22,25,901 Balance (*) 12,22,30,027 12,22,30,027 BACK SAVE AS PDF SAVE AS EXCEL About GST Website Policies Related Sites Help Contact Us Slide 42 Ledger Designed and Developed by GSTN Creation & Maintenance of Elect....
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....ronic Credit Ledger â– What is Electronic Credit Ledger? . The Electronic Credit Ledger is created by default when a taxpayer successfully registers under the GST regime except for those taxpayers who opt for composition scheme or registered for TDS/TCS . Taxpayers under composition scheme cannot avail ITC Page 43 Ledger Designed and Developed by GSTN Creation & Maintenance of Electronic Credit Ledger Where can I find the Electronic Credit Ledger in the GST Portal? Taxpayer accesses GST portal & reaches the landing page Goods and Services Tax Taxpayer logs into GST portal using their login ID & password Dashboard Services â–¾ Notifications & Circulars â–¼ Acts & Rules â–¾ Downloads â–¾ Registration Ledgers Returns Payments User Services Electronic Cash Ledger Electronic Credit Ledger Tax Liability Register Utilize ITC/Cash Pre-Invoice Tax IDs Partial ITC Invoices Liability related to Return 90,000 1,15,000 1,15,000 View Profile Cash 40,000 20,000 20,000 Input tax Credit 70,000 80,000 80,000 (Net Liability)/Net Credit 20,000 (15,000) (15,000) Liability other than Return 0 0 Notices/Orders Taxpayer navigates through - Services > Ledgers > & clicks on Electronic C....
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....redit Ledger Kamath Foods Private Limited Saved Forms Received Show cause notice for cancellation of Registration from Commissioner, Bangalore Page 44 Ledger Designed and Developed by GSTN Creation & Maintenance of Electronic Credit Ledger What happens when I click on Electronic Credit Ledger? Landing page for Electronic Credit Ledger will be displayed & it will contain 1. ITC balance as on date 2. Option to view summary & detailed ledgers (similar to ECL) 3. Option to utilise available ITC Goods and Services Tax Dashboard Services Notifications & Circulars Acts & Rules Downloads â–¼ Dashboard > Ledgers Electronic Credit Ledger Electronic Credit Ledger - Summary Financial Year 2015-16 Ledger Views 1. Summary Ledger 2. Detailed Ledger Month ITC Balance August 12,45,000.00 A+ A- Ganesh Harvest Solutions Manuj Industries Ltd. 28AAACM1090A1Z1 Page 45 UTILIZE ITC Ledger Designed and Developed by GSTN Creation & Maintenance of Electronic Credit Ledger: Business Rules 1. Period selected for which the ledger can be viewed can't be more than six months. 2. No manual editing is possible in the Electronic Credit Ledger. 3. Electronic Credit Ledger cannot have negative balance. 4. On gene....
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....ration of GSTR 3, ITC of the current tax period will be available on provisional basis which can be utilised against return related liability in GSTR 3 of the current tax period only. 5. The Provisional credit will be maintained as a separate credit and displayed in Electronic Credit Ledger only for the purpose of utilization for making the payment of current tax period's liability. Page 46 Ledger Tax Liability Register Designed and Developed by GSTN â– The Tax Liability Register will capture all the liabilities of the Taxpayer â– The liabilities will be auto populated through Returns for taxpayers or by tax officials for other liabilities from assessment or enforcement In certain cases, it may be populated by Tax Officials using the Tax Official's Interface â– The Tax Liability Register is only for viewing by the Taxpayer because no manual entries can be made into the Tax Liability Register by the Taxpayer Page 47 Ledger Designed and Developed by GSTN Tax Liability Register Where can I find the Tax Liability Register in the GST Portal? Taxpayer accesses GST portal & reaches the landing page Taxpayer logs into GST portal using their login ID & password Goods and Serv....
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....ices Tax Dashboard Services ▾ Notifications & Circulars ▾ Acts & Rules ▾ Downloads ▾ Registration Ledgers Returns Payments User Services Electronic Cash Ledger Electronic Credit Ledger Tax Liability Register Pre-Invoice Tax IDS Partial ITC Invoices Liability related to Return 90,000 1,15,000 1,15,000 View Profile > Cash 40,000 20,000 20,000 Taxpayer navigates to - GST Services > View Ledger & clicks on Tax liability register Kamath Foods Private Limited Notices/Orders Saved Forms Input tax Credit 70,000 80,000 80,000 (Net Liability)/Net Credit 20,000 (15,000) (15,000) Received Show cause notice for cancellation of Registration from Commissioner, Bangalore Liability other than Return 0 0 0 Page 48 Ledger Tax Liability Register Designed and Developed by GSTN What happens when I click on Tax ledger? Landing page for Tax ledger will be displayed & it will contain 1. Tax liability as on date 2. Option to view return related tax liability and other than return related liability Goods and Services Tax Ganesh Harvest Solutions Dashboard Services Notifications & Circulars ་ Acts & Rules Downloads ▾ Dashboard > Ledgers > Tax Liability Register Tax Liabilit....
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....y Register Ledger Views 1. Tax Liability Register for Return 2. Tax Liability Register for Liabilities other than Return Manuj Industries Ltd. 28AAACM1090A1Z1 Page 49 Returns for Taxpayers Tax Liability Register: Business Rules Designed and Developed by GSTN 1. Period selected for which the ledger can be viewed is months 2. Tax Liability Register is not applicable for Government Department and UN Bodies having Government ID/Unique ID but no GSTIN. 3. No manual editing is possible in the Tax Liability Ledger. Page 50 Returns for Taxpayers Designed and Developed by GSTN Mismatch Reports â– The purpose of this report is to capture the mismatch reported by the Supplier Taxpayer & Receiver Taxpayer. â—‰ The Mismatch Report will capture the details of all such line items of the invoices & will be available as a Report for the supplier and receiver Taxpayer's information & convenience. This system generated report will only be available for viewing & will not be liable for any manipulations by the viewer. The jurisdictional Tax Authorities will also be eligible to view the Mismatch Report. Mismatch Report will be generated for every tax period on filing of valid GSTR 3 by the Ta....
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....xpayer or 21st day of (M+1) whichever is later. Communication will be sent to both the parties (Supplier & Receiver) on generation of Mismatch Report. Page 51 Returns for Taxpayers Designed and Developed by GSTN Mismatch Reports What happens when I click on Mismatch Reports? Mismatch Report w.r.t. the Taxable supplies will be displayed: Supplier Mismatch ➤ Receiver Mismatch ➤ E-commerce Mismatch Goods and Services Tax A+ A- Ganesh Harvest Solutions Services ▾ Notifications & Circulars ▼ Acts & Rules ▾ Downloads ▼ Dashboard Returns View Mismatch Reports FY 2015-2016 Month - January Status - Pending Last updated Date - 10th January Total Tax Liability - 700.00 Mismatch Report 1 2 3 Section No. Mismatch Report Supplier Mismatch Receiver Mismatch E-commerce mismatch BACK Follow us on ✔ in About GST Website Policies Related Sites Help Contact Us Page 52 Returns for Taxpayers Designed and Developed by GSTN Utilising Cash & ITC Payments for tax & other liabilities can be made from the following sources Cash Provisional ITC1 Existing ITC2 1 - ITC for current month 2- ITC from previous months Page 53 Returns for Taxpayers Designed and Developed by GST....
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....N Utilising Cash & ITC: Business Rules Payment through CASH 1. The amount of Cash deposited for CGST/SGST/IGST/Cess can be used only for payment of CGST/SGST/IGST/Cess liabilities respectively. No inter-head adjustment is allowed for major-minor heads. 2. Cash deposited under the minor head i.e., Tax/Interest/Fee/Penalty/Others can only be utilised for payment of Tax/Interest/Fee/Penalty/Others respectively. It implies that no inter-head adjustment is allowed. 3. The amount allowed to be entered for utilization of cash can't be more than the amount of balance available under the respective major/minor head of tax. 4. Amount under Cash Ledger will be used in the following priority order: a. Self-assessed tax, & other dues related to returns of previous tax periods; b. Self-assessed tax, & other dues related to return of current tax period; c. Any other amount payable under the Act or the rules made thereunder including the demand determined under section 66 or 67. Page 54 Returns for Taxpayers IGST CGST SGST Utilising Cash & ITC: Business Rules Payment through ITC Designed and Developed by GSTN IGST CGST SGST Order of Priority Page 55 1 2 Designed and Developed by GSTN THANK YOU!<BR....
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