TaxTMI 
TaxTMI 
Filing of Returns under GST- regarding
X X X X Extracts X X X X
X X X X Extracts X X X X
....e 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 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 State Notification ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....so wishes even though his aggregate turnover is up to Rs. 1.5 Crores. 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-I 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 GOI 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 & DGST Acts) instead of Rs. 200/- per day (Rs. 100/- per day each under CGST & DGST Acts). For other taxpayers, whose tax liability for that month was not 'NIL'....
X X X X Extracts X X X X
X X X X Extracts X X X X
....The amount remaining for adjustment, if any, may be adjusted in the return(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-I should also preferably be made in the corresponding months. 5. Where the taxpayer has committed an enor 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-I and discrepancies, if any, shall be dealt with in accordance with the relevant provisions of the DGST Act, 2017 and rules made thereunder. Detailed instru....
X X X X Extracts X X X X
X X X X Extracts X X X X
....enerate a fresh challan under FORM GST PMT-06 to additional cash or utilize their credit and 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. Change furnish their return. If such liability was not reported in FORM GSTR-1 of the in FORM month/quarter, then such liability may be declared in the subsequent GSTR-1 month's/quarter's FORM GSTR-1 in which payment was made. Stage 1 Confirmed Stage of Return Filing (GSTR-3B) Stage 2 Stage 3 Stage 4 Offset Return Submission Cash Ledger Updated Liability Filed Return liabilities/Cash was added to the All Return Input tax credit electronic cash ledger as liabilities was availed confirmed Common Error II submitted were per the return liability. and No action was taken after this step....
X X X X Extracts X X X X
X X X X Extracts X X X X
....amended through amendments under Table 9 of FORM GSTR-1 Stage 3 Stage 4 Offset Return Liability Filed All liabilities were offset by debiting Return was filed. the cash Common Error III 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. Liability was wrongly reported and credit ledger. No action was taken after this step. Use "Edit" facility to rectify wrongly reported liability. Use "Edit" facility to rectify wrongly reported liability and cash 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. Unreported liability may be added in the n....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ommon Error - IV Stage 1 Confirmed Submission Stage of Return Filing (GSTR-3B) Stage 2 Cash Ledger Updated Cash was added to the electronic cash ledger as per were the return liability. No action and was taken after this step. and Return liabilities / Input tax credit availed confirmed submitted Stage 3 Stage 4 Return Filed Return was filed. Offset Liability All liabilities were offset by debiting the cash and credit ledger. Input tax therefore no change can be done to the liability. No action was taken after this step Use 'Edit" facility to No Action required in cash credit was add un-availed input tax credit. Input tax Credit will be added under reported ledger No action was after taken this step. Input tax credit which was not reported may be availed while filing return for subsequent month(s). to the credit ledger and may be used for offsetting this month subsequent or month's liability. Company D, while filing their FORM GSTR 3B for the month of July, inadvertently, misreported I....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 10,00,000/-. What can Rs. 10,00,000/- What do? can they do? they Since, the company has submitted details of their input tax credit but not used such credit for offsetting their liabilities, they can reduce their input tax credit by using the "edit" facility. Since, the company has submitted details of their input tax credit but not used such credit for offsetting their liabilities, they can reduce their input tax credit by using the "edit" facility. Since, they have deposited Rs. 10,00,000/- only in their input tax credit ledger they may deposit additional Rs. 10,00,000/- in the cash ledger by creating challan in FORM GST PMT-06. No Action E While filing their FORM GSTR 3B for the months of July, 2017, Company inadvertently, reported their eligible input tax credit, as Rs. 20,00,000/- instead of 10,00,000/-. Rs. 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 (....