Reverse Charge. Section 9 (3) of CGST Act, 2017 Section 9 (4) of CGST Act, Section 5(3) of IGST Act, 2017 Section 5(4) of IGST Act, 2017

Transcription

1 GST RETURNS

2 Reverse Charge Section 9 (3) of CGST Act, 2017 Section 9 (4) of CGST Act, 2017 Section 5(3) of IGST Act, 2017 Section 5(4) of IGST Act, 2017

3 Reverse Charge Sl No. Category of Supply of Services Supplier of service Recipient of Service (1) (2) (3) (4) 1 Supply of Services by a goods transport agency (GTA) in respect of transportation of goods by road to- (a) any factory registered under or governed by the Factories Act, 1948(63 of 1948);or (b) any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any other law for the time being in force in any part of India; or (c) any co-operative society established by or under any law; or (d) any person registered under the Central Goods and Services Tax Act or the Integrated Goods and Services Tax Act or the State Goods and Services Tax Act or the Union Territory Goods and Services Tax Act; or (e) any body corporate established, by or under any law; or (f) any partnership firm whether registered or not under any law including association of persons; or (g) any casual taxable person Goods Transport Agency (GTA) (a) Any factory registered under or governed by the Factories Act, 1948(63 of 1948); or (b) any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any other law for the time being in force in any part of India; or (c) any co-operative society established by or under any law; or (d) any person registered under the Central Goods and Services Tax Act or the Integrated Goods and Services Tax Act or the State Goods and Services Tax Act or the Union Territory Goods and Services Tax Act; or (e) any body corporate established, by or under any law; or (f) any partnership firm whether registered or not under any law including association of persons; or (g) any casual taxable person; located in the taxable territory.

4 Reverse Charge Sl No. Category of Supply of Services Supplier of service Recipient of Service (1) (2) (3) (4) 2 Services supplied by an individual advocate including a senior advocate by way of representational services before any court, tribunal or authority, directly or indirectly, to any business entity located in the taxable territory, including where contract for provision of such service has been entered through another advocate or a firm of advocates, or by a firm of advocates, by way of legal services, to a business entity 3 Services supplied by an arbitral tribunal to a business entity An individual advocate including a senior advocate or firm of advocates. An arbitral tribunal Any business entity located in the taxable territory. Any business entity located in the taxable territory. 4 Services provided by way of sponsorship to any body corporate or partnership firm Any person Any body corporate or partnership firm located in the taxable territory.

5 Reverse Charge Sl No. Category of Supply of Services Supplier of service Recipient of Service (1) (2) (3) (4) 5 Services supplied by the Central Government, State Government, Union territory or local authority to a business entity excluding, - (1) renting of immovable property, and (2) services specified below- (i) services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Central Government, State Government or Union territory or local authority; (ii) services in relation to an aircraft or a vessel, inside or outside the precincts of a port or an airport; (iii) transport of goods or passengers. 6 Services supplied by a director of a company or a body corporate to the said company or the body corporate. 7 Services supplied by an insurance agent to any person carrying on insurance business. Central Government, State Government, Union territory or local authority A director of a company or a body corporate An insurance agent Any business entity located in the taxable territory. The company or a body corporate located in the taxable territory Any person carrying on insurance business, located in the taxable territory

6 Reverse Charge Sl No. Category of Supply of Services Supplier of service Recipient of Service (1) (2) (3) (4) 8 Services supplied by a recovery agent to a banking company or a financial institution or a nonbanking financial company. 9 Supply of services by an author, music composer, photographer, artist or the like by way of transfer or permitting the use or enjoyment of a copyright covered under clause (a) of sub-section (1) of section 13 of the Copyright Act, 1957 relating to original literary, dramatic, musical or artistic works to a publisher, music company, producer or the like. A recovery agent Author or music composer, photographer, artist, or the like A banking company or a financial institution or a non-banking financial company, located in the taxable territory Publisher, music company, producer or the like, located in the taxable territory

7 Reverse Charge change from Service Tax Man Power Supply Renting of Passenger Transportation Works Contract

8 Documents under GST Outward Supply Invoice Inward Supply Reverse Charge Invoice Debit Note Credit Note Receipt Voucher

9 Documents under GST Payment Voucher Refund Voucher Delivery Challan For Supply For other than Supply Job Work

10 Job Work - Documentation

11 Job Work Documentation

12 Accounting under GST E-Cash Ledger Location 1 GST E-Cash Ledger A/c E-Credit Ledger Regular CGST ITC - Location A/c SGST ITC - Location A/c IGST ITC - Location A/c E-Liability Ledger Regular CGST Liability - Location A/c SGST Liability - Location A/c IGST Liability - Location A/c Additional Ledgers - Advances CGST Adv Interim - Location A/c SGST Adv Interim - Location A/c IGST Adv Interim - Location A/c

13 Transition - GST

14 Transition GST

15 Transition GST

16 Transition GST

17 Transition GST

18 Transition GST

19 Transition GST

20 Transition GST

21 Contents RETURNS 1. Various Returns Periodicity 2. What is GSTR 1 3. Contents of GSTR 1 4. Uploading Methodology 5. What is GSTR 2 6. Contents of GSTR 2

22 RETURNS SUPPLIER GSTR - 1 Outward Supplies RECIPIENT GSTR 2A GSTR 1A GSTR 3 Combined Monthly Return GSTR 2 Inward Supplies

23 RETURNS - PERIODICITY For the months of July & Aug 2017 Due-date Return Aug 20th GSTR-3B for July 2017 Sep 5th GSTR-1 for July 2017 Sep 10th GSTR-2 for July 2017 Sep 20th GSTR-1 for Aug 2017 Sep 20th GSTR-3B for Aug 2017 Sep 25th GSTR-2 for Aug 2017 From the month of Sep & onwards Due-date Return Registered Taxable Person 10 th of Next month GSTR-1 15 th of Next month GSTR-2 20 th of Next month GSTR-3 Composition Supplier 18 th of the month succeeding the qtr GSTR-4 (Quarterly) Non-Resident Taxable Person (NRTP) 20 th of Next month GSTR-5 Input Service Distributor (ISD) 13 th of the month succeeding the qtr GSTR-6 Tax Deductor 10 th of Next month GSTR-7 E- Commerce Operator 10 th of Next month GSTR-8 Annual Return (GSTR-9); Final Return (GSTR-10); Inwards by UIN (GSTR-11)

24 RETURNS WHAT IS GSTR-1? Details of Outward Supply of Taxable Goods/Services effected by Registered Person Data to be captured in GSTR-1: 1. Details of Invoices of Taxable outward supplies made to other Registered Taxpayers 2. Details of Invoices of Taxable outward supplies made to consumers (B2C) where Invoice Value is > Rs.2,50, Details of supplies made to consumers (B2C) and unregistered persons where Invoice Value is < Rs.2,50, Credit/Debit Notes or Refund Vouchers issued to Registered Taxpayers issued against Invoice

25 RETURNS WHAT IS GSTR-1? Details of Outward Supply of Taxable Goods/Services effected by Registered Person Data to be captured in GSTR-1: 5. Credit/Debit Notes or Refund Vouchers issued to unregistered persons issued against Inter-state invoice & value is more than Rs.2,50, Details of Export Supplies including supplies to SEZ/SEZ Developer / Deemed Exports 7. Details of Tax Liability on Advances on which Invoices has not been raised 8. Adjustment of tax liability for tax already paid on Advances when Invoices raised 9. Details of NIL rated, Exempted & Non-GST supplies made 10. HSN-wise summary of Goods / Services supplied 11. List of Documents issued

26 RETURNS CONTENTS OF GSTR-1 Details of Invoices of Taxable Outward supplies made to Registered Taxpayers B2B Data to be captured in GSTR-1 Table 4 of Form GSTR1: 4A All supplies other than attracting Reverse charge; and supplies made through e-commerce operator 4B All Supplies attracting Reverse Charges 4C All supplies made through e-commerce operator attracting TCS {GSTIN of e-commerce Operator needed} - For invoices containing multiple line-items, the invoice level details Like GSTIN, Invoice No., Dt., POS should be repeated for line items - Taxable value, Rate & Cess may be different as applicable to the same invoice - Regular - SEZ supplies with payment - SEZ supplies without payment - Deemed Exports Combined rate (CGST+SGST) or IGST

27 RETURNS CONTENTS OF GSTR-1 Details of Invoices of Taxable outward supplies made to unregistered persons where Invoice Value is > Rs.2,50,000 B2C Large Data to be captured in GSTR-1 Table 5 of Form GSTR1: 5A Outward Supplies (other than made through e-commerce Operator) 5B Supplies made through e-commerce operator attracting TCS {GSTIN of e-commerce Operator needed} Combined rate (CGST+SGST ) or IGST State Code of Supplier GSTN & e-commerce GSTIN should be same

28 RETURNS CONTENTS OF GSTR-1 Details of supplies made to consumers (B2C) and unregistered persons where Invoice Value is < Rs.2,50,000 B2C Small Data to be captured in GSTR-1 Table 7 of Form GSTR1: 7A Intra-state supplies Outward supplies other than through e-commerce Operator & through e-commerce Operator 7B Inter-state supplies Outward supplies other than through e-commerce Operator & through e-commerce Operator E Supply done through e-commerce Operator OE Other than through e-commerce Operator Combined rate (CGST+SGST) or IGST

29 RETURNS CONTENTS OF GSTR-1 Credit/Debit Notes or Refund Vouchers issued to Registered Taxpayers issued against Invoice CN/DN Data to be captured in GSTR-1 Table 9B of Form GSTR1: Based on original document RETURNS CONTENTS OF GSTR-1 Enter the original Invoice no. entered in B2B or in Pre-GST period OR Advance Receipt No. incase of a Refund Voucher Enter the Original Invoice dt or Advance Receipt dt D Debit Note C Credit Note R Refund Voucher Any of the below reasons: - Sales Return - Post Sale Discount - Deficiency in Service - Correction in invoice - Change in POS - Finalisation of Provisional Assmt - Others Combined rate (CGST+SGS T) or IGST

30 RETURNS CONTENTS OF GSTR-1 Credit/Debit Notes or Refund Vouchers issued to unregistered persons issued against Inter-state invoice & value is more than Rs.2,50,000 Data to be captured in GSTR-1 Table 9B of Form GSTR1: Based on original document CN/DN URP EXP Export Invoices B2CL to Consumers D Debit Note C Credit Note R Refund Voucher Enter the original Invoice no entered in B2B or in Pre-GST period Combined rate (CGST+SGST ) or IGST

31 RETURNS CONTENTS OF GSTR-1 Details of Export Supplies including supplies to SEZ/SEZ Developer / Deemed Exports EXP Data to be captured in GSTR-1 Table 6 of Form GSTR1: 6A Exports 6B Supplies made to SEZ or SEZ Developer 6C Deemed Exports WPAY With Payment WOPAY Without Payment 6 Digit Port Code through which goods were exported Available in GST Portal If not available during filing Leave Blank Combined rate (CGST+SGST ) or IGST

32 RETURNS CONTENTS OF GSTR-1 Details of Tax Liability on Advances on which Invoices has not been raised AT Data to be captured in GSTR-1 Table 11B of Form GSTR1: Inter-State Supplies & Intra-State Supplies Combined rate (CGST+SGST) or IGST

33 RETURNS CONTENTS OF GSTR-1 Adjustment of tax liability for tax already paid on Advances when Invoices raised AT ADJ Data to be captured in GSTR-1 Table 11B of Form GSTR1: Inter-State Supplies & Intra-State Supplies Combined rate (CGST+SGST) or IGST

34 RETURNS CONTENTS OF GSTR-1 Details of NIL rated, Exempted & Non-GST supplies made EXEMP Data to be captured in GSTR-1 Table 8 of Form GSTR1: 8A Inter-State Supplies to Registered persons 8B Intra-State Supplies to Registered persons 8C Inter-State Supplies to Unregistered persons 8D Intra-State Supplies to Unregistered persons Should exclude amounts already declared in B2B, B2C Goods / Services which are out of purview of GST

35 RETURNS CONTENTS OF GSTR-1 HSN-wise summary of Goods / Services supplied HSN Data to be captured in GSTR-1 Table 12 of Form GSTR1: Pick from Drop-down Should match with respective values in other tabs Mandatory Field if HSN code not provided Upto 2 Decimal Digit HSN Code Minimum digits required to be mentioned in the Invoice & Reporting: - Annual Turnover upto Rs.1.50 Crores Nil Digit - Annual Turnover above Rs.1.50 Crores & below Rs.5.00 Crores 2 Digits - Annual Turnover above Rs.5.00 Crores 4 Digits

36 RETURNS CONTENTS OF GSTR-1 List of Documents issued Data to be captured in GSTR-1 Table 13 of Form GSTR1: 13 forms of Documents Should match with the count of documents in other tabs DOC Net Documents issued will be auto calculated in Java tool

37 RETURNS UPLOADING METHODOLOGY Different Update options Importing the populated Offline Excel Template (11 data entry sheets) Line-by-line entry in Java tool Copy from excel & pasting it in designated box in Java tool Upload using *.csv file To the Java tool in one go (Approx lines in oneshot) Java tool will generate *.json file which shall be uploaded to GST Portal Copy-Paste including the Headers Else will throw error Accounting package should be capable of generating this in the format specified by GST Systems Java tool will generate *.json file which shall be uploaded to GST Portal Java tool will generate *.json file which shall be uploaded to GST Portal Other Points - Tax value auto computes in the excel template based on the furnished rates & this field in Java too is also editable - Amounts should be only upto 2 Decimals - Systems date format to be dd/mm/yyyy or dd-mm-yyyy to facilitate the date format for the excel template - This version of Excel template does not support importing of data in Exempt and Issued Documents tab. These needs to be manually entered in the Java tool

38 RETURNS WHAT IS GSTR-2? Details of Inward Supplies of Goods / Services by a Registered Person Data to be captured in GSTR-2: 1. Inward Supplies received from a registered person other than supplies attracting Reverse Charge 2. Inward Supplies on which tax is to be paid on Reverse Charge 3. Inputs / Capital Goods received from Overseas or SEZ units on Bill of Entry (BoE) 4. Amendments to Inward Supplies declared in # 1, 2 & 3 above in earlier months {including DNs/CNs & their amendments} 5. Supplies received from Composition Taxable Person and Supplies of Exempt / Nil Rate / Non-GST supplies received 6. ISD Credit Received 7. TDS and TCS Credit Received 8. Advances Paid / Adjusted on account of receipt of Supply 9. Input Tax Credit Reversal / Reclaim 10. Addition / Reduction of Output Tax for mismatch & other reasons 11. HSN Summary of Inward Supplies

39 RETURNS CONTENTS OF GSTR-2 Inward Supplies received from a registered person other than supplies attracting Reverse Charge Data to be captured in GSTR-2 Table 3 of Form GSTR2:

40 RETURNS CONTENTS OF GSTR-2 Inward Supplies on which tax is to be paid on Reverse Charge Data to be captured in GSTR-2 Table 4 of Form GSTR2:

41 RETURNS CONTENTS OF GSTR-2 Inputs / Capital Goods received from Overseas or SEZ units on Bill of Entry (BoE) Data to be captured in GSTR-2 Table 5 of Form GSTR2:

42 RETURNS CONTENTS OF GSTR-2 Amendments to Inward Supplies declared in # 1, 2 & 3 above in earlier months Data to be captured in GSTR-2 Table 6 of Form GSTR2: Including Debit Notes / Credit Notes and their amendments 6A. Supplies other than import of goods or goods received from SEZ [Information furnished in Table 3 and 4 of earlier returns]- If details furnished earlier were incorrect 6B. Supplies by way of import of goods or goods received from SEZ [Information furnished in Table 5 of earlier returns]-if details furnished earlier were incorrect 6C. Debit Notes/Credit Notes [original] 6D. Debit Notes/ Credit Notes [amendment of debit notes/credit notes furnished in earlier tax periods]

43 RETURNS CONTENTS OF GSTR-2 Supplies received from Composition Taxable Person and Supplies of Exempt / Nil Rate / Non- GST supplies received Data to be captured in GSTR-2 Table 7 of Form GSTR2:

44 RETURNS CONTENTS OF GSTR-2 ISD Credit Received Data to be captured in GSTR-2 Table 8 of Form GSTR2:

45 RETURNS CONTENTS OF GSTR-2 TDS and TCS Credit Received Data to be captured in GSTR-2 Table 9 of Form GSTR2:

46 RETURNS CONTENTS OF GSTR-2 Advances Paid / Adjusted on account of receipt of Supply Data to be captured in GSTR-2 Table 10-I of Form GSTR2: Data to be captured in GSTR-2 Table 10-II of Form GSTR2:

47 RETURNS CONTENTS OF GSTR-2 Input Tax Credit Reversal / Reclaim Data to be captured in GSTR-2 Table 11 of Form GSTR2: Non-Payment of Consideration CN to ISD to be apportioned in same ratio Supply used partly for personal purposes Capital Goods used partly for personal purposes Supply used partly for personal purposes FY calc Supply used partly for personal purposes FY calc B. Amendment of Information furnished in the above table (11) - had to be disclosed by S.No as disclosed in earlier months

48 RETURNS CONTENTS OF GSTR-2 Addition / Reduction of Output Tax for mismatch & other reasons Data to be captured in GSTR-2 Table 12 of Form GSTR2:

49 RETURNS CONTENTS OF GSTR-2 HSN Summary of Inward Supplies Data to be captured in GSTR-2 Table 13 of Form GSTR2: Should match with respective values in other tabs

50 Form GSTR- 3B

51 Form GSTR-6