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Filing of Returns under GST- regarding
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....oss field formations, the Board, in exercise of its powers conferred under section 168 (1) of the Central Goods and Services Tax Act, 2017 hereby clarifies the following issues: 1. Return Filing Calendar: 1.1 Dates for filing of FORM GSTR-1 and FORM GSTR-3B have been put in a calendar format for ease of understanding as under: Returns Filling Dates January 2018 February 2018 March 2018 April 2018 May 2018 10 20 10 15 20 10 20 10 20 30 10 Up to 1. 5 Crore GSTR -3B Dec 3B Jan 3B Feb 3B Mar 3B Apr 3B GSTR 1 Jul - Sep 2017Oct Oct-Dec 2017 Jan - Mar 2017 Greater than 1.5 Crore GSTR-3B Dec 3B Jan 3B Feb 3B Mar 3B Apr 3B GSTR-1 July to Nov 2017 Dec 2017 Jan 2018 Feb 2018 Mar 2018....
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....on may opt to file FORM GSTR-1 on monthly basis if he so wishes even though his aggregate turnover is up to Rs. 1.5 Crore. Once he falls in this bracket or if he chooses to file return on monthly basis, the registered person will not have the option to change the return filing periodicity for the entire financial year. In cases, where the registered person wrongly reports his aggregate turnover and opts to file FORM GSTR-1 on quarterly basis, he may be liable for punitive action under the CGST Act, 2017. 2. Applicability and quantum of late fee: 2.1 The late fee for the months of July, August and September for late filing of FORM GSTR - 3B has already been waived off vide Notification No. 28/2017-CT dated 1st September 2017 and 50/2017-CT dated 24th October 2017. 2.2 It has been decided that for subsequent months, i.e. October 2017 onwards, the amount of late fee payable, by a taxpayer whose tax liability for that month was „NIL‟, will be Rs. 20/- per day (Rs. 10/- per day each under CGST & SGST Acts) instead of Rs. 200/- per day (Rs. 100/- per day each under CGST & SGST Acts). For other taxpayers, whose tax liability for that month was not „NIL‟, l....
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....n(s) in FORM GSTR-3B of subsequent month(s) and, in cases where such adjustment is not feasible, refund may be claimed. Where adjustments have been made in FORM GSTR-3B of multiple months, corresponding adjustments in FORM GSTR-1 should also preferably be made in the corresponding months. 5. Where the taxpayer has committed an error in submitting (before offsetting and filing) the information in FORM GSTR-3B, a provision for editing the same has been provided. The facility to edit the information can be used only before offsetting the liability and editing will not be permitted after offsetting the liability. Hence, every care should be taken to ensure the accuracy of the figures before proceeding to offset the liabilities. 6. It is further clarified that the information furnished by the registered person in the return in FORM GSTR-3B would be reconciled by the department‟s system with the information furnished in FORM GSTR-1 and discrepancies, if any, shall be dealt with in accordance with the relevant provisions of the CGST Act, 2017 and rules made thereunder. Detailed instructions regarding reconciliation of information furnished in FORM GSTR-3B with that contained i....
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....aken after this step. Stage 4 Return Filed Return was filed. Liability may be added in the return of subsequent month(s) after payment of interest. Company A has four units in Haryana, while filing their return for the month of July, they inadvertently, missed on details of a last minute order. The Company had filed their returns in order to not pay late fee and other penalties. What can they do? In this case, they may report this additional liability in the return of next month and pay tax with interest. furnish their return. Change in If such liability was not reported in FORM GSTR-1 of the month/quarter, then such liability may be declared in the subsequent month's/quarter's FORM GSTR-1 in which payment was made. FORM GSTR-1 Page 5 of 11 Common Error - II Liability was over reported Change in FORM GSTR-1 Stage 1 Confirmed Submission Return liabilities / Input tax credit availed were confirmed and submitted and therefore no change can be done to the liability. No action was taken after this step. Stage of Return Filing (GSTR - 3B) Stage 2 Cash Ledger Updated ....
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....urn Filing (GSTR - 3B) Common Error - III Liability was wrongly reported Change in FORM GSTR-1 Stage 1 Confirmed Submission Return liabilities / Input tax credit availed were confirmed and submitted and therefore no change can be done to the liability. No action was taken after this step. Stage 2 Cash Ledger Updated Cash was added to the electronic cash ledger as per the return All liability. No action was taken after this step. Use "Edit" facility to rectify wrongly Use "Edit" facility to rectify wrongly reported liability and cash reported liability. ledger may be debited to offset new liability, where sufficient balances are not available in the credit ledger. Remaining balance, if any may be either claimed as refund or used to offset future liabilities. Company C is registered in the State of Haryana. While entering their outward supplies in FORM GSTR- 3B, the company realized that they had inadvertently, shown inter-State supply as intra-State supply and submitted the return. What can they do? In this case, the company will have to rectify wrongly reported liability usin....
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....ability. No action was taken after this step Use 'Edit" facility to add un-availed input tax credit. Input tax Credit will be added to the credit ledger and may be used for offsetting this month or subsequent month's liability. Company D, while filing their FORM GSTR- 3B for the month of July, inadvertently, misreported Input tax credit of Rs. 1,00,00,000/- as Rs. 10,00,000/-. They had confirmed and submitted their return. What can they do? The company may use the "edit" facility to add more Input tax credit to their submitted FORM GSTR-3B. Once, this is done, such credit will be reflected in their Electronic Credit ledger and may be utilized to offset liabilities for this month or for subsequent months. Stage of Return Filing (GSTR - 3B) Stage 2 Cash Ledger Updated Cash was added to the electronic cash ledger as per the return liability. No action was taken after this step. No Action required in cash ledger No Action required in cash ledger No Action Stage 3 Offset Liability Stage 4 Return Filed All liabilities were offset Return was filed. by debiting the cash and credit ledger. ....
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.... No action was taken after this step. Stage 4 Return Filed Return was filed. Pay (through cash) / Reverse such over reported input tax credit with interest in return of subsequent month (s). While filing their FORM GSTR 3B for the months of July, 2017, Company E inadvertently, reported their eligible input tax credit, as Rs. 20,00,000/- instead of Rs. 10,00,000/-. Company E also utilized their additional input tax credit and filed their returns. What can they do? Since, the company had utilized ineligible credit to offset such liabilities, the company will have to pay (through cash) / Reverse such over reported utilized input tax credit with interest. Page 9 of 11 Common Error - VI Input Tax Credit of the wrong tax was taken Stage 1 Confirmed Submission Return liabilities / Input tax credit availed were confirmed and submitted and therefore no change can be done to the liability. No action was taken after this step Stage of Return Filing (GSTR - 3B) Stage 2 Cash Ledger Updated Cash was added to the electronic cash ledger as per the return liability. No action was....