It is some important details regarding gst which will help you to clear some confusion to some extent.

2. Type of Sale
Local Sale Within the State
– Two taxes applicable –
a. SGST
b. CGST.
Rate of Tax (6% + 6%) Total
12% will be applicable.

3. Type of Sale
Central Sale Outside State Only
Only one tax – IGST – Rate of Tax 12% will be applicable.
GST will be charged on the basis of destination.
GST will be payable on all types of advances received against Goods/ Services.
In case of supply of goods to SEZ or EOU, IGST will be applicable.

4. REGISTRATION
Unregistered: – If turnover is less than 20 Lac., No need to take GST Registration
However for North Eastern States, the limit is 10 Lac.
Registered: – Turnover above 20 Lac / 10 Lac as stated above
Compounding Scheme :If Turnover is below than 75 Lac, Compounding scheme
can be taken from Government of India, subject to following condition:>
ITC (Input tax credit will not available)
Cannot make purchase or sale to outside state.
GST payable @1% (0.5% CGST and 0.5% SGST) on turnover and cannot be
changed in invoice

5. TRANSITIONAL CREDIT
Dealer is entitled to take Input tax credit on stock lying on
30.06.2017 in case GST is applicable from 01.07.2017, he has to
fulfill following transitional provision:
• He has to submit a declaration within 90 days (up to 30th Sept) specifying the
credit he wants to take on stocks lying with him on 30th June.
• Declaration will have to be submitted in from GST Tran1.
• Commissioner can extend this timeline by another 90 days.
• Input Tax Credit of Excise Duty & Vat paid on capital goods: He will have to
submit the declaration specifying – Amount of credit already availed &
amount of credit yet to be availed under GST period.
• Dealer having excise invoices for stocks lying as on 30th June will be entitled
to take full credit of excise mentioned in the invoices.
• Credit of excise duty cannot be claimed for stocks which are purchased prior
to 01/07/2016.

6. TRANSITIONAL CREDIT
7. Dealer who do not have excise invoice, will be eligible to take credit in
the following manner:
• In case of sales within state, Credit shall be allowed at the rate of 60% of
CGST payable on that goods – so if the rate is 28% then credit will be
available @ 8.4% (60% of 14% CGST).
• In case of sales outside state and IGST tax is paid on such goods, the
amount of credit shall be allowed at the rate of thirty per cent.(30% of
28%)= 8.4%
8. Credit in the above Deemed Credit scheme will be available only once the
said goods are sold and GST is paid.
9. Input Tax Credit on Stock lying on 30.06.2017 will go on for 6 months
from GST date, so stocks lying as on 30th June have to be sold maximum
up to 31st December, 2017. No credit will be available if these goods are
sold after December 2017.

7. TRANSITIONAL CREDIT
9. Separate return under for GST TRAN2 will have to be filed.
10. If any dealer receives the material after 01.07.2017 to 30.07.2017, Credit
of Input will be available (both Excise Duty and VAT).
11. In case of dealer wants to return the material which was purchased
before GST implemented within a period of 6 months, credits are
available.

8. INPUT TAX CREDIT (ITC)
ITC will not be allowed after expiry of one year from the date of invoice
• IGST will be adjusted firstly IGST, after that
CGST and SGST.
• CGST will be adjusted firstly CGST, after that
IGST.
• SGST will be adjusted firstly SGST, after that
IGST.
• CGST cannot be adjusted from SGST and SGST
cannot be from CGST.

9. RETURN
• Details of outward supplies: within 10 day of Next Month (GSTR1).
The details of outward supplies furnished by the supplier shall be
available electronically to the receiver of the goods in Part A of
FORM GSTR2A, in FORM GSTR4A and in FORM GSTR6A through the
Common Portal.
• Details of inward supplies : within 15 day of Next Month (GSTR2).
The details of inward supplies added, corrected or deleted by the
recipient in his FORM GSTR2 under section 38 or FORM GSTR4 or
FORM GSTR6 under section 39 shall be made available to the
supplier electronically in FORM GSTR1A through the Common
Portal and such supplier may either accept or reject the
modifications made by the recipient and FORM GSTR1 furnished
earlier by the supplier shall stand amended to the extent of
modifications accepted by him.

10. RETURN
• Monthly Return: within 20 days after the end of such month
(GSTR3).
• Return for Composition Scheme: each quarter or part thereof,
electronically, within 18 days after the end of such quarter
(GSTR4)
• Annual return: Every registered taxable person except certain
specified person shall have to furnish an annual return for
every financial year electronically on or before the 31st day of
December following the end of such financial year. (GSTR9)
• Note :We cannot revise GST Return but we can modify our
uploaded data by Debit or Credit Notes.

11. Matching of claim of input tax credit
• The following details relating to the claim of input tax
credit on inward supplies including imports,
provisionally allowed under section 41 shall be
matched under section 42 after the due date for
furnishing the return in FORM GSTR3.
A. GSTIN of the supplier
B. GSTIN of the recipient
C. invoice or debit note number;
D. invoice or debit note date; and
E. tax amount

12. Penalty
1. Non filling of monthly GST Return Rs.100/per
day but maximum Rs.5000/.
2. Non filling of Annual Return 0.25% of Annual
Turnover.

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