Ø For ordinary dealer in case return not filed for 6 months then registration going to be cancelled and for composite dealer in case they three quarter return not filed, then registration going to be cancelled
Ø No output return for ISD & Composite dealer.
Ø GSTR-1 – outward - 10th of following month - details will be communicated to the customer who are taking input. - invoice wise details. - GSTR 2A will be supplied to the customer and in case of any modification, GSTR 1A will be revert and supplier in case want to make any modification the same required to be made on 16th or 17th.
Ø Customer require to accept or reject the outward filed by vendors.
Ø GSTR-2 - Return of inward supplies - 15th of following month - includes purchased , reverse charges, credit & debit note - required to be verified with GSTR 2A.
Ø GSTR-3 - monthly return – 20th of following month ( other than ISD & etc). ( Pay taxes)- Auto populated.
Ø Each registration will have 37 return
Ø GSTR 4 - composition dealer - 18th days of the end of the quarter. – require to furnish all inward details in details and sales in consolidated way.
Ø GSTR- 7Supplier of government - TDS Applicable - 10th days from the end of the month
Ø GSTR- 6ISD - 13th days after the end of the month
Ø Non Resident Taxable person - 20th of succeeding month
Ø Return required to file for nil turnover for regular & composition dealer
Ø No valid return valid without payment of taxes.
Ø No filing of current period return till the time you file your previous tax return
Ø Maximum time to rectify the return is September 30, of next year.
Ø Provisional input tax credit - matching concept - till the time supplier pay taxes -
Ø Condition of input credit
(b) Received the goods & service
(c) Supplier pay taxes
(d) Filed all tax return
Ø GSTR- 3A - notice for not filing of tax return.
Ø What invoice number to be given in case of inter unit cost allocation
Ø What GSTN going to match
(a) GST number of supplier
(b) GST number of customer
(c) Invoice No
(d) Invoice Date
(e) Taxable Value
Ø MIS -1 - provisional credit become final credit. ( intimation)
Ø MIS- 2 & MIS- 1 – in case of any mismatch , to supplier/ customer.
Ø Same intimation in case of mismatch due to credit note. And in case of confirmation of credit note MIS3 & 4 going to be issued.
Ø Supplier not made payment, then my input credit being added to output along with interest @ 18%. In case the supplier pay the tax in future, then we can claim input and interest paid by supplier (max upto paid by customer).
Ø GSTR- 9 - Annual return - Composite Dealer ( GSTR 9A). - 31st December of the following financial year.
Ø GSTR 9B - Turnover exceeds one crore- audit - reconciling with books of accounts.
Ø GSTR 10 - Final return - closure of business
Ø Form GST PCT 1 & PCT 2 - service tax PR actioner - power of attorney – PCT 6/ 7 from customer.
Ø Types of Ledger in GST
GST PMT 01 - Tax, interest , penalty payable as per return / proceedings/ reversal of credit
Cash Ledger is PMT- 05.
Challan is called is PMT 06 - valid for 15 days.
Cash payment upto 10,000 only.
Ø Website address: t1www.gstsystem.co.in
Ø User manual
Ø GSTR1 - all outward transactions - B2B - invoice value - B2C - invoice value more than 2.5 Lakhs – invoice value. - Invoice cab be booked from the beginning of the month and can save the data. The submission can be done after the completion of the month.
· B2C large invoice
· Export invoice
· Debit/credit note
· Place of supply (POS) very important in the invoice
· HSN Code - different turnover limits.
· Offline Utility / Upload / Single uploading 19000 invoices.
· View Summary
· Generate File - JSON FILE.
· Check the confirmation of the upload.
GSTR2A - read only
GSTR 2 - accept or reject
Ø Migration portal will work from June 1 to June 15, 2017.
Ø Login & home page
HSN Code / SAC Code
RCM is on input why require to mention in GSTR1
GST Final Number
Format of Invoice