TaxTMI 
TaxTMI 
Filling of Returns under GST
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.... the Karnataka Goods and Services Tax Act, 2017 the following issues are hereby clarified: 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: Return Filing Dates January 2018 10 _ February 2018 Up to 1.5 Crore GSTR-3B GSTR-1 20 Dec 3B 10 15 20 March 2018 10 Jan 3B 20 Feb 38 10 April 2018 20 Mar 38 30 May 2018 10 Apr 38 Jul-Sep 2017 Oct-Dec 2017 Jan-Mar 2017 Greater than GSTR-3B Dec 3B Jan 3B Feb 38 Mar 38 1.5 Crore GSTR-1 July to Nov 2017 Dec 2017 Jan 2018 Feb 2018 Apr 38 Mar 2018 1.2 It may be noted that all registered persons are required to file their FORM GSTR-3B on a monthly basis in terms of Notification (1-K/2017) No. KGST.CR.01/17-18 dated 15th September, 2017 and Notification (1-W/2017) No. KGST.CR.01/17-18 dated 15th November 2017. Further, Notification (23/2017) No. FD 47 CSL 2017 and Notification (1-AH/2017) No. KGST.CR.01/17-18 both dated 29th December 2017 (superseding Notification No. (19/2017) - No. FD 47 CSL 2017 and (1....
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....cial 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 KGST Act, 2017. 2. 2.1 Applicability and quantum of late fee: 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 (23-A/2017) No. FD48 CSL 2017 dated 6th September 2017 and (23-B/2017) No. FD 47 CSL 2017 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', late fee payable will be Rs. 50/- per day (Rs. 25/- per day each under CGST & SGST Acts) instead of Rs. 200/- per day (Rs. 100/- per day each under CGST & SGST Acts). Notification (20/2017) No. FD 47 CSL 2017 dated 15th November 2017 has already been issued in th....
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.... 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 KGST Act, 2017 and rules made thereunder. Detailed instructions regarding reconciliation of information furnished in FORM GSTR-3B with that contained in FORM GSTR-2 and FORM GSTR-3 will be issued in due course of time. To,....
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.... 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. Page 4 of 10 Change in FORM GSTR-1 Common Error-II Liability was over reported 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. 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 taken after this step. Use "Edit" facility to reduce over Use "Edit" facility to reduce over reported reported liability. ....
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....an 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 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 using the edit facility. Here, the company will reduce their Central Tax/State tax supplies and liability and add integrated tax liability and proceed to file their return. Company C is registered in the State of Haryana.....
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....l liabilities were offset by debiting the cash and credit ledger. No action was taken after this step. Stage 4 Return Filed Return was filed. Input tax credit was under reported Change in 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. No Action required in cash ledger No Action required in cash ledger Input tax credit which was not reported may be availed while filing return for subsequent month(s). Company D, while filing their FORM GSTR-3B for the month of July, inad....
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....). 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. GSTR-1 Page 8 of 10 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 taken after this step. "Edit" facility to be used to rectify Additional cash, if required, may be such liability. deposited in the cash ledger by creating New Input tax credit will be added....