GST returns must be filed by taxpayers on a regular basis to report tax liabilities and claims. There are multiple GST return forms depending on the taxpayer category. Taxpayers must self-assess tax obligations and file monthly, quarterly, or annual returns reporting details of outward and inward supplies, input tax credit, tax payable, and tax paid. Input tax credit claims are matched against supplier returns and any discrepancies can result in credits being denied or reversed. Late fees may apply for failure to submit required returns by the due date.
GST returns types, applicability of returns with due date to different assessees, CGST, IGST, SGST, Returns for regular Dealer, Composition Dealer, Annual return,Monthly return, Quarterly Return
The GST Council has relaxed filing rules for the first two months post implementation. Here's how to file your returns for these months using form GSTR 3B. To know more about GSTR 3B, visit our page https://cleartax.in/s/gstr-3b
Overview of Returns in GST, steps to file returns in GST India, Number of returns in GST, Due date for filing returns in GST India, Late Filing Fee in GST, Procedure to File Returns in GST etc.
The following Presentation enumerates the various provisions w.r.t. ITC, how it can be used,eligibilty and conditions for claiming ITC along with various case studies and illustrations. further, it elaborates the concept of input service distributor.
OBJECTIVE
Goods and Services Tax (GST) is the Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. There are various periodic compliance requirements and filings under GST. In this webinar, we shall analyse and understand the forms GSTR-1 and GSTR-3B.
GST returns types, applicability of returns with due date to different assessees, CGST, IGST, SGST, Returns for regular Dealer, Composition Dealer, Annual return,Monthly return, Quarterly Return
The GST Council has relaxed filing rules for the first two months post implementation. Here's how to file your returns for these months using form GSTR 3B. To know more about GSTR 3B, visit our page https://cleartax.in/s/gstr-3b
Overview of Returns in GST, steps to file returns in GST India, Number of returns in GST, Due date for filing returns in GST India, Late Filing Fee in GST, Procedure to File Returns in GST etc.
The following Presentation enumerates the various provisions w.r.t. ITC, how it can be used,eligibilty and conditions for claiming ITC along with various case studies and illustrations. further, it elaborates the concept of input service distributor.
OBJECTIVE
Goods and Services Tax (GST) is the Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. There are various periodic compliance requirements and filings under GST. In this webinar, we shall analyse and understand the forms GSTR-1 and GSTR-3B.
The PPT about GSTR-1 , How to filling GSTRR-1 Step by Step all Details here by CA Sanjiv Nanda. .
Mostly people is confused how to file GSTR-1 so this PPT help That people .
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Unlike erstwhile indirect tax regime, GST promises seamless credit on goods and services across the entire supply chain with some exceptions. In this webinar, we shall understand and analyse the provisions related to Input Tax Credit under the GST law
GST is a vast subject. Some feel that the goods rates have increased whereas some feel its reduced & some are confused thinking that how are they benefited from the implementation of GST
One of the fundamental features of GST is the seamless flow of input credit across the chain and across the country for supply of Goods or Services. Know more about ITC under GST at https://cleartax.in/s/gst-input-tax-credit/
If you have any Query you can contact Us
Mail id:- ca.sanjiv.nanda@gmail.com
Youtube Channel :- https://www.youtube.com/channel/UCmmx2GFXeoF-DNtNjwnpYJA
Website :- http://www.sanjivnanda.com/
Facebook link :- https://www.facebook.com/ca.sanjivnanda919/
Twitter :- https://twitter.com/
If you have any Query you can contact Us
Mail id:- ca.sanjiv.nanda@gmail.com
Youtube Channel :- https://www.youtube.com/channel/UCmmx2GFXeoF-DNtNjwnpYJA
Website :- http://www.sanjivnanda.com/
Facebook link :- https://www.facebook.com/ca.sanjivnanda919/
Twitter :- https://twitter.com/
EWAY Bill a complete guide by GSTSEVA.COM
This slides specifically prepared for logistics, transport, registered users under gst and students to understand eway bill concept in GST with examples.
Thanks
Team www.gstseva.com
Input Tax Credit (ITC) in GST with Practical ExamplesGSTIndia.biz
Learn everything you should know about Input Tax Credit (ITC) in GST by Ashu Dalmia (GST Consultant, Trainer & Author)
Credit is backbone of whole GST for all businesses and without proper understanding of input, organisation can be badly hit.
Goods and Services Tax - Input Tax Credit Eligibility
Basic Provisions. How can a taxpayer claim ITC what are the conditions and restrictions for claiming ITC under GST.
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Timely refund mechanism is essential in tax administration, as it facilitates trade through the release of blocked funds for working capital, expansion and modernisation of existing business. In this webinar, we shall be learning the procedural aspects of refund under GST law.
1. presentation on input tax credit under gstNarayan Lodha
GST, Goods And Service Tax, Basic Concept and Principals of Input Credit under GST, Availability of ITC in Special cases, ITC- Input Service Distributor, Electronic Cash Ledger, Electronic Credit Ledger, Refund of Tax under GST
UPDATED PPT ON TABLE BY TABLE POINTS ON GST ANNUAL RETURN GSTR-9. CHECK POINTS OF GSTR-9 COUPLED WITH REFERENCE TO GST AUDIT GUIDE YOU TO ANNUAL COMPLIANCE UNDER GST.
The PPT about GSTR-1 , How to filling GSTRR-1 Step by Step all Details here by CA Sanjiv Nanda. .
Mostly people is confused how to file GSTR-1 so this PPT help That people .
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Unlike erstwhile indirect tax regime, GST promises seamless credit on goods and services across the entire supply chain with some exceptions. In this webinar, we shall understand and analyse the provisions related to Input Tax Credit under the GST law
GST is a vast subject. Some feel that the goods rates have increased whereas some feel its reduced & some are confused thinking that how are they benefited from the implementation of GST
One of the fundamental features of GST is the seamless flow of input credit across the chain and across the country for supply of Goods or Services. Know more about ITC under GST at https://cleartax.in/s/gst-input-tax-credit/
If you have any Query you can contact Us
Mail id:- ca.sanjiv.nanda@gmail.com
Youtube Channel :- https://www.youtube.com/channel/UCmmx2GFXeoF-DNtNjwnpYJA
Website :- http://www.sanjivnanda.com/
Facebook link :- https://www.facebook.com/ca.sanjivnanda919/
Twitter :- https://twitter.com/
If you have any Query you can contact Us
Mail id:- ca.sanjiv.nanda@gmail.com
Youtube Channel :- https://www.youtube.com/channel/UCmmx2GFXeoF-DNtNjwnpYJA
Website :- http://www.sanjivnanda.com/
Facebook link :- https://www.facebook.com/ca.sanjivnanda919/
Twitter :- https://twitter.com/
EWAY Bill a complete guide by GSTSEVA.COM
This slides specifically prepared for logistics, transport, registered users under gst and students to understand eway bill concept in GST with examples.
Thanks
Team www.gstseva.com
Input Tax Credit (ITC) in GST with Practical ExamplesGSTIndia.biz
Learn everything you should know about Input Tax Credit (ITC) in GST by Ashu Dalmia (GST Consultant, Trainer & Author)
Credit is backbone of whole GST for all businesses and without proper understanding of input, organisation can be badly hit.
Goods and Services Tax - Input Tax Credit Eligibility
Basic Provisions. How can a taxpayer claim ITC what are the conditions and restrictions for claiming ITC under GST.
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Timely refund mechanism is essential in tax administration, as it facilitates trade through the release of blocked funds for working capital, expansion and modernisation of existing business. In this webinar, we shall be learning the procedural aspects of refund under GST law.
1. presentation on input tax credit under gstNarayan Lodha
GST, Goods And Service Tax, Basic Concept and Principals of Input Credit under GST, Availability of ITC in Special cases, ITC- Input Service Distributor, Electronic Cash Ledger, Electronic Credit Ledger, Refund of Tax under GST
UPDATED PPT ON TABLE BY TABLE POINTS ON GST ANNUAL RETURN GSTR-9. CHECK POINTS OF GSTR-9 COUPLED WITH REFERENCE TO GST AUDIT GUIDE YOU TO ANNUAL COMPLIANCE UNDER GST.
This is about the understanding of the provisions applicable in GST. This Presentation talks about the complete practical understanding. There is a series of presentation available but for now we are providing our first PPT free of cost.
Indian Cable Net Co. Ltd presents GST Guide for LCOs registration, returns, payment and penalty for non-compliance under GST Act, 2017. This presentation is exclusively a property of ICNCL and no part of it can be reproduced and copied, with accrediting the source.
GST REGISTRATION
Pre 1st July 2017, a manufacturer, trader, retailer or any other business was filing returns in respect of various compliances – Excise, VAT, Service Tax, Sales Tax, Income Tax etc. with separate returns for each of them. A continuous process of filing returns – monthly, quarterly, half-yearly and yearly existed and businesses were kept occupied throughout the year by filing one or the other return.
GST is an Indirect Tax which has replaced many Indirect Taxes in India.
The Act came into effect on 1st July 2017.
Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
Maintenance of Accounts and Records, GST compliances and process of GST return filings. Type of Return under GST. Return under CGST, SGST, IGST. GSTR1, GSTR2, GSTR3,
GSTR-3B: Filing, Rules, and Reconciliations | Academy Tax4wealthAcademy Tax4wealth
GSTR-3B is a monthly summary return form under the GST. GSTR-3B serves as a summary statement of a taxpayer & outward supplies, inward supplies are liable to reverse charge, input tax credit claimed, and tax liability for a particular tax period.
For more information, visit us at:-
https://academy.tax4wealth.com/blog/e-invoicing
If you have any Query you can contact Us
Mail id:- ca.sanjiv.nanda@gmail.com
Youtube Channel :- https://www.youtube.com/channel/UCmmx2GFXeoF-DNtNjwnpYJA
Website :- http://www.sanjivnanda.com/
Facebook link :- https://www.facebook.com/ca.sanjivnanda919/
Twitter :- https://twitter.com/
This article comprises of basic compliances which every assessee shall be liable to comply with and in case, it defaults in complying with the same, he shall be subject to penalty and interest.
CA Ashish Garg
The GST mechanism includes the information of sales, purchases, input tax credit and every taxpayer is required to file GST returns.
Under GST taxpayer needs to file monthly returns and one annual return.
GSTR-1, GSTR-2 and GSTR-3 are required to file by normal taxpayers.
https://www.trutax.in/gst-returns-filing
For detail guience with our experts request you to visit our website : onlinecompliances.com . where our experts are ready to provide you instant solution for your financial issues.
Similar to Overview of filing return under GST (20)
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Webinar Exploring DORA for Fintechs - Simont Braun
Overview of filing return under GST
1. Overview of Filing Return
Under GST
Presented By – Indirect Tax Vertical
Asija & Associates LLP | Chartered
Accountants
|Lucknow | Gurgaon| www.asija.in
M/s Asija & Associates LLP, Chartered
2. Table of Contents
Basic features of return filing under GST
Time period of filing return
List of GST returns
Manner of furnishing details of outward & inward supplies
Manner of submission of monthly return
Matching of claims of Input Tax Credit & of reduction in Output Tax Liability
Final return & levy of late fees
M/s Asija & Associates LLP, Chartered
Accountants2
3. Basic Features
Self-assessment of tax liability by the taxpayer.
Common e-Return for CGST, SGST and IGST.
Separate returns for different categories of taxpayers
Normal/Regular & Casual Taxpayer (GSTR-1, 2 ,3 & 8)
Compounding Taxpayer (GSTR- 4 & 8)
Foreign Non-Resident Taxpayer (GSTR-5)
Input Service Distributor (GSTR- 6)
Tax Deductor (GSTR-7)
3
M/s Asija & Associates LLP, Chartered
Accountants
4. Time Period of filing Return
MonthlyReturn
Normal
Assessee
Outward
Supply
GSTR 1 & 1A (10th of
the next month)
Inward Supply
GSTR 2 & 2A (15th of
the next month)
Monthly
Return
GSTR 3 (20th of the next
month)
Other
Assessee
Compounding
Dealer
GSTR 4 & 4A (18th of
the next Quarter)
TDS Deductor
GSTR 7& 7A (10th of the
next month)
Input Service
Distributor
GSTR 6 & 6A (13th of
the next month)
E-commerce
operator
GSTR 8 (10th of the next
month)
Non-resident
foreign taxpayer
GSTR 5 (within 7 days
after expiry of
registration)
4
* Returns must be filed on or before the
period mentioned above
M/s Asija & Associates LLP, Chartered
Accountants
5. Time Period of filing Return
AnnualReturn
Normal Assessee
GSTR 9 (31st Dec of
next F.Y.)
Composite Dealer
GSTR 9A (31st Dec
of next F.Y.)
5
* The returns must be filed on or before the period mentioned above.
M/s Asija & Associates LLP, Chartered
Accountants
6. List of GST Returns
Details of outward supplies of taxable goods/services effected
Details of outward supplies as added, corrected or deleted by the recipient
Details of inward supplies of taxable goods/services claiming ITC
Details of inward supplies made available to the recipient on the basis of GSTR 1
Monthly return on the basis of finalization of outward supplies and inward supplies along with
the payment of tax
Notice to a person who fails to file a monthly or final return
Quarterly return for a compounding tax payer
Details of inward supplies made available to a recipient registered under composition scheme
on the basis of GSTR 1
Return for non-resident foreign taxpayer
6
FORM GSTR 1
FORM GSTR 1A
FORM GSTR 2
FORM GSTR 2A
FORM GSTR 3
FORM GSTR 3A
FORM GSTR 4
FORM GSTR 4A
FORM GSTR 5
M/s Asija & Associates LLP, Chartered
Accountants
7. List of GST Returns
ISD Return
Details of inward supply made available to ISD on the basis of GSTR 1
Return for authorities deducting tax at source
TDS Certificate
Details of supplies effected through e-commerce operator and the amount of tax collected
Annual Return
Simplified annual return by Compounding Taxpayer
Final Return
Details of inward supplies to be mentioned by a person having UIN
7
FORM GSTR 6
FORM GSTR 6A
FORM GSTR 7
FORM GSTR 7A
FORM GSTR 8
FORM GSTR 9
FORM GSTR 9 A
FORM GSTR 10
FORM GSTR 11
M/s Asija & Associates LLP, Chartered
Accountants
8. Manner of furnishing details of Outward
Supply
Every registered taxable person who is required to furnish details of outward
supply shall furnish such details in FORM GSTR-1.
Details of outward supply shall include details relating to: details of
invoices, debit & credit notes, return of goods received in relation to an
onward supply.
The details of outward supply shall be made available to each of the
recipient in Part A of FORM GSTR-2A.
The details of inward supply added, corrected or deleted by the recipient in
FORM GSTR 2 are made available to the supplier in FORM GSTR-1A and
GSTR-1 shall stand amended to the extent of modifications accepted by the
supplier.
8
M/s Asija & Associates LLP, Chartered
Accountants
9. Manner of furnishing details of Inward
Supply
Every registered taxable person required to furnish the details of inward supplies
shall do so in FORM GSTR 2 on the basis of details furnished in GSTR 2A.
The recipient of goods and/or services shall specify the inward supplies in
respect of which he is not eligible, for input tax credit in GSTR-2.
The quantum of ineligible input tax credit on inward supplies which is
relatable to non-taxable supplies or for purposes other than business to be
declared in GSTR-2.
GSTR 2 shall also include the details of :
• invoices furnished by an Input Service Distributor in his return;
• tax deducted at source by the deductor;
• tax collected at source by an e-commerce operator;
9
M/s Asija & Associates LLP, Chartered
Accountants
10. Manner of submission of Monthly Return
A monthly return in GSTR 3 must be filed by every registered taxable person, other
than a compound taxpayer, showing details of:
inward & outward supplies;
input tax credit availed;
tax payable; &
tax paid
Part A of the return to be generated on the basis of information mentioned in GSTR 1
& 2, electronic credit, cash & tax liability ledger.
Every liability towards tax, interest, penalty, fees or any other amount must be
discharged by debiting the electronic cash and/or credit ledger as per the details
contained in Part B of the return.
Every claim for refund of any balance in the electronic cash ledger may be claimed in
Part B of the return and such return shall be deemed to be an application filed for
refund.
10
M/s Asija & Associates LLP, Chartered
Accountants
11. Matching of Claim of ITC
The details of every inward supply furnished by a recipient shall be matched with
The corresponding details of outward supply furnished by the supplier;
The additional duty of customs paid in respect of goods imported;
For duplication of claims.
The claim of ITC shall be considered as matched, where the amount of ITC claimed is
≤ the output tax paid on such invoice or Debit Note, by the corresponding supplier.
The claim of ITC that match with the corresponding outward supply, be finally
accepted and communicated, to the recipient.
11
M/s Asija & Associates LLP, Chartered
Accountants
12. Matching of Claim of ITC
12
For matching with
corresponding outward supply
details in supplier's return
Matching of
ITC
For duplication
of claim of ITC
If no duplicity is
found then ITC
is finally allowed
If duplicity is
found then ITC
is reversed
If does not match then
discrepancy shall be
notified to both persons
If matched with
supplier’s return
then ITC is finally
allowed
If supplier
rectify it then
ITC is finally
allowed
If supplier does
not rectify it
then ITC is
reversed
In case of reversal, person
claiming ITC shall be
informed
Such person to pay an
amount equal to ITC
reversed along with interest M/s Asija & Associates LLP, Chartered
Accountants
13. Matching of claims for reduction in
Output Tax Liability
The details of every credit note relating to outward supply by the supplier shall be
matched with:
• The corresponding reduction in claim for ITC by the recipient in his valid return,
and
• For duplication of claims for reduction in output tax liability.
The following details relating to the claim of reduction in output tax liability shall be
matched:
• GSTIN of the supplier;
• GSTIN of the recipient;
• Credit Note date;
• Credit Note number;
• Taxable value ;
• Tax amount.
13
M/s Asija & Associates LLP, Chartered
Accountants
14. Matching of claims for reduction in
Output Tax Liability
14
For matching with
corresponding reduction in the
claim for ITC by recipient
Matching of
reduction in
output tax liability
For duplication of
claim of reduction in
output tax liability
If no duplicity is
found, no
addition to be
made
If duplicity is found, it
shall be communicated
to the supplier
If does not match or
credit note is not
disclosed by the recipient,
discrepancy to be notified
to both parties
If matched, the same to
be communicated to
both the parties
If recipient rectify
it, no addition to be
made
If recipient does
not rectify it
The amount shall be added
to the supplier’s output tax
liability
Supplier shall be liable to
pay interest in respect of
amount so added
M/s Asija & Associates LLP, Chartered
Accountants
15. Final Return
Every registered taxable person who applies for cancellation of registration shall
furnish a return in FORM GSTR 10
Return to be furnished within 3 months of the date of cancellation or date of
cancellation order, whichever is later .
A notice in FORM GSTR 3A shall be issued, where a registered taxable person fails to
furnish a monthly return or a final return.
Late fees @ Rs. 100/day will be applicable in case of failure to furnish the details of
outward or inward supplies, monthly return or a final return, by the due date, subject
to a max. of Rs. 5,000.
A person who fails to furnish an annual return by the due date shall be liable to a late
fees of Rs. 100/day subject to a max. of an amount equal to a quarter percent of the
aggregate turnover.
15
M/s Asija & Associates LLP, Chartered
Accountants
16. Disclaimer
• This presentation has been prepared by our firm to provide a gist of the
applicable law pertaining to Model GST Law notified by the Government of
India for upcoming GST Act 2016, pending for ratification in Parliament for
applicability on or after 01/07/2017.
• For detailed insight and for better understanding of the various provision of
the said law, the said presentation should be read along with related provision
of Model GST Law 2016(amended in November, 2016).
• Neither our firm nor any partner or employee or article of our firm shall
responsible for any decision taken on the basis of the said presentation and
without obtaining any professional guidance or consultation on the matter for
which reliance was made on this presentation.
16
M/s Asija & Associates LLP, Chartered
Accountants
17. Thank You
For any queries kindly contact our GST Team :
17
Asija & Associates LLP
Chartered Accountants
H.O. : 34/5 , Gokhale Marg,
Lucknow
Ph. No. : 0522-4004652,2205072
CA Pradumn Pandey
Executive Partner
(pradumn.pandey@asija.in)
CA Rahul Mishra
Partner in Charge
(rahul.mishra@asija.i
n)
CA Amber Agrawal
Associate Director
(amber.agrawal@asija.in
)
M/s Asija & Associates LLP, Chartered Accountants