gst:tax invoice, d c n returns, p of t (p & p e …...tax invoice •a registered taxable person...
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GST:TAX INVOICE, DEBIT OR CREDIT NOTES,
RETURNS, PAYMENT OF TAX
(PROVISION & PROCEDURE) AND
ELECTRONIC COMMERCE OPERATOR,
A Presentation by CA. (Dr.) Shailendra Saxena
B.COM,SAP(FICO),ACS,FCMA,FCA,DISA(ICAI).Ph.D.
Baroda Branch of WIRC of ICAI
Dated 26/04/2017
1
TAX INVOICE •A registered taxable person while supplying taxable goods/services shall issue a tax invoice containing following details.
(a). name, address and GSTIN of the supplier,
(b). a consecutive serial number containing only alphabets and/or numerals, unique for a financial year,
(c). Date of its issue
(d). name, address and GSTIN/ Unique ID Number, if registered, of the recipient,
(e). name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is unregistered and where the taxable value of supply is fifty thousand rupees or more
(f). HSN code of goods or Accounting Code of services
(g). description of goods or services
(h). quantity in case of goods and unit or Unique Quantity Code thereof
(i). total value of goods or services 3
TAX INVOICE (j). taxable value of goods or services taking into account discount or abatement, if any,
(k). rate of tax (CGST, SGST or IGST),
(l). amount of tax charged in respect of taxable goods or services (CGST, SGST or IGST),
(m). place of supply along with the name of State, in case of a supply in the course of inter-
State trade or commerce
(n). place of delivery where the same is different from the place of supply
(o). whether the tax is payable on reverse charge,
(p). the word “Revised Invoice” or “Supplementary Invoice”, as the case may be, indicated
prominently, where applicable along with the date and invoice number of the original invoice;
and
(q). signature or digital signature of the supplier or his authorized representative.
• In case of export, the invoice shall carry an endorsement “SUPPLY MEANT FOR EXPORT
ON PAYMENT OF IGST” or “SUPPLY MEANT FOR EXPORT UNDER BOND WITHOUT
PAYMENT OF IGST”.
4
TAX INVOICE
Manner of Issuing Invoice
• The invoice shall be prepared in triplicate, in case of supply of goods, in the following
manner
(a) the original copy being marked as ORIGINAL FOR RECIPIENT,
(b) the duplicate copy being marked as DUPLICATE FOR TRANSPORTER; and
(c) the triplicate copy being marked as TRIPLICATE FOR SUPPLIER.
• The invoice shall be prepared in duplicate, in case of supply of services in the following
manner
(a) the original copy being marked as ORIGINAL FOR RECEIPIENT; and
(b) the duplicate copy being marked as DUPLICATE FOR SUPPLIER.
5
BILL OF SUPPLY • Following persons are required to issue bill of supply.
1. Supplying non-taxable goods/services
2. Paying tax under Section-9, i.e. composition levy
• Bill of Supply shall contain following details.
1. name, address and GSTIN of the supplier, serial number, date of issue
2. name, address and GSTIN/ Unique ID Number, if registered, of the recipient
3. HSN Code of goods or Accounting Code for services
4. description of goods or services
5. value of goods or services taking into account discount or abatement, if any
6. signature or digital signature of the supplier or his authorized representative
7
GOODS & SERVICE TAX INVOICE
RULES Tax invoice
• Export supplies will be marked as “SUPPLY MEANT FOR EXPORT ON PAYMENT OF IGST” or “SUPPLY MEANT FOR EXPORT UNDER BOND WITHOUT PAYMENT OF IGST”, as applicable. Besides name and address of recipient and address of delivery, the country of destination and date of application for removal for export shall also be mentioned.
• Supply of services between distinct persons in case of insurance/banking company, financial institution (including NBFC), telecom operator or other notified class of suppliers may issue invoice before or at the time the supplier records in his account books or before expiry of the quarter during which supply was made
• Invoice for supply of goods shall be in triplicate and for services in duplicate. Original shall be for recipient. Duplicate (in case of supply of goods) shall be for transporter. Triplicate (goods) and duplicate (services) copy shall be for supplier.
8
TAX INVOICE IN CASE OF SUPPLY OF TAXABLE
GOODS
Event Document Time of issue
A registered person
supplying taxable goods
[Section 31(1)]
Tax Invoice -Before or at the time of:
(a) removal of goods for supply to
the recipient, where the supply
involves movement of goods
(b) delivery of goods or making
available thereof to the recipient, in
any other case.
-Not mandatory to separate issue
tax invoice for supplies below Rs.
200/- in case such tax invoice is not
required by the customer. [Section.
31(1) (3)(b)]
10
TAX INVOICE IN CASE OF SUPPLY OF
TAXABLE SERVICE Event Document Time of issue
A registered person
supplying taxable
services
[Section 31(2)]
Tax Invoice Before or after the provision of
service but within a period of thirty
days from the date of supply of
service [Rule 2]
Not mandatory to separate issue tax
invoice for supplies below Rs. 200/-
in case such tax invoice is not
required by the customer. [Section.
31(1) (3)(b)]
However shall issue a consolidated
tax invoice for such supplies at the
close of each day in respect of all
such supplies.
[Third Proviso to Rule 1]
11
TAX INVOICE IN CASE OF CONTINUOUS
SUPPLY OF GOODS
Event Document Time of issue
In case of continuous
supply of goods
[Section 31(4)]
Tax Invoice where successive statements of
accounts or successive payments
are involved:
before or at the time each such
statement is issued or, as the case
may be, each such payment is
received.
12
TAX INVOICE IN CASE OF CONTINUOUS
SUPPLY OF SERVICE
Event Document Time of issue
In case of continuous
supply of services
[Section 31(5)]
Tax Invoice (a) due date of payment is
ascertainable:
on or before the due date of
payment;
(b) due date of payment is not
ascertainable: On or before the time
when the supplier of service
receives the payment;
(c) payment is linked to the
completion of an event:
on or before the date of completion
of that event
13
TAX INVOICE IN CASE OF RECEIPT OF
ADVANCE
Event Document Time of issue
On receipt of advance
[Section 31(3)(d)]
Where subsequently no
supply is made and no tax
invoice is issued in
pursuance of advance
receipt issued, a refund
voucher shall be issued
against such payment;
[Section 31(3)(e)]
a receipt voucher
or any other
documents
a refund voucher
At the time of receipt of advance
14
GOODS & SERVICE TAX INVOICE
RULES RECEIPT VOUCHER
• A registered person shall issue a receipt voucher on receipt of any advance payment with
respect to any supply of goods or services or both containing the following details:
– Name, address and GSTIN of the supplier
– Consecutive serial number
– Name, address and GSTIN or UIN, if registered, of the recipient
– Description of goods or services
– Amount of advance taken
– Rate of tax (central tax, State tax, integrated tax, Union territory tax or cess);
– Amount of tax charged in respect of taxable goods or services
– Place of supply along with the name of State and its code, in case of inter-State trade
– Whether the tax is payable on reverse charge basis
– Signature/ Digital Signature of the supplier or his authorised representative 15
TAX INVOICE IN CASE OF WHERE THE SUPPLY
OF SERVICE CEASES UNDER A CONTRACT
Event Document Time of issue
supply of services ceases
under a contract before
the completion of the
supply
[Section 31(6)]
Tax Invoice at the time when the supply
ceases ( invoice shall be issued to
the extent of the supply made before
such cessation)
17
TAX INVOICE IN CASE OF GOODS BEING SENT
OR TAKEN ON APPROVAL
Event Document Time of issue
where the goods being
sent or taken on approval
for sale or return are
removed before the
supply takes place
[Section 31(7)]
Tax Invoice On or before the time of supply
or
six months from the date of removal,
(whichever is earlier)
18
TAX INVOICE IN CASE OF GOODS COMPOSITION DEALER OR
SUPPLIER OF EXEMPTED GOODS OR SERVICES
Event Document Time of issue
Composition dealer or
supplier of exempted
goods or services
[Section. 31(1) (3)(c) &
proviso thereof]
bill of supply in
place of Tax
Invoice
For supplies below Rs. 200/- to
unregistered customers, he may not
issue separate bill of supply if case
bill not demanded by the
customer. [Proviso to Rule 4]
19
TAX INVOICE IN CASE OF GOODS PURCHASE FROM
UNREGISTERED DEALER
Event Document Time of issue
Purchase from
unregistered dealer i.e.
tax payable under reverse
charge.
[Section. 31(1)(3)(f)]
Invoice on the date of receipt of goods or
services or both
20
TAX INVOICE IN CASE OF GOODS PURCHASE FROM
UNREGISTERED DEALER
Event Document Time of issue
Payment for Purchase
from unregistered dealer
i.e. tax payable under
reverse charge.
[Section. 31(1) (3)(g)]
Payment Voucher at the time of making payment to the
supplier
21
REVISED INVOICE FOR SUPPLIES MADE FROM EFFECTIVE DATE
OF REGISTRATION TO TILL THE DATE OF ISSUANCE OF
CERTIFICATE OF REGISTRATION TO THE SUPPLIER.
Event Document Time of issue
Supplies made during the
period beginning with the
effective date of
registration till the date of
issuance of certificate of
registration to the
supplier.
[Section. 31(1) (3)(a)]
1. Revised Invoice
[Rule 6(2)]
2. Consolidated
revised tax invoice
(in respect of all
taxable supplies
made to all
recipients who are
not registered
under the
Act.) [first proviso
to Rule 6(2)]
within one month from the date of
issuance of certificate of registration
22
CREDIT NOTE
Particulars Provision
Credit Note
[Section 34(1)]
After issuance, invoice is found to exceed taxable value/ tax
payable on such supply
Credit note to issue up to earlier of following
• 30th day of the September following the end of the financial
year in which supply made.
• date of filing of relevant annual return
No credit note shall be issued by the said person if the
incidence of tax and interest on such supply has been
passed by him to any other person.
Details of Credit note to be given in monthly return.
23
DEBIT NOTE
Particulars Provision
DebitNote
[Section 34(3)]
After issuance, invoice is found to less the than taxable
value/ tax payable on such supply
Debit note to issue up to earlier of following
• 30th day of the September following the end of the financial
year in which supply made.
• date of filing of relevant annual return
No debit note shall be issued by the said person if the
incidence of tax and interest on such supply has been
passed by him to any other person.
Details of Debit note to be given in monthly return.
Debit note shall include a supplementary invoice.
24
GOODS & SERVICE TAX INVOICE
RULES Supplementary Tax Invoice
• The supplementary tax invoice or debit/credit note shall include the similar details as
mentioned in case of bill of supply and –
– Reference of original invoice number and date
– The word “ Revised Invoice” indicated prominently
• A consolidated revised tax invoice can be issued in respect of taxable supplies made to
unregistered recipient.
• In case of interstate supplies, where value of supply does not exceed INR 2,50,000, a
consolidated revised invoice may be issued in respect of all unregistered recipients located in
a state.
25
GOODS & SERVICE TAX INVOICE
RULES Debit / Credit Notes
•Invoice or debit note issued where tax is payable in accordance with provisions providing
for:
– Determination of tax not paid or short paid or erroneously refunded or input tax credit
wrongly availed or utilized by reason of fraud or wilful misstatement or suppression of
facts
– Detention, seizure and release of goods and conveyances in transit
– Confiscation of goods or conveyances
shall prominently contain the words
“INPUT TAX CREDIT NOT ADMISSIBLE”
26
SUPPLIES DISTRIBUTED BY ISD
Event Document Time of issue
Supplies distributed
by Input Service
Distributors (ISD) other
than banking company or
a financial institution,
including a non-banking
financial company.
[ Rule 7(1)]
ISD Invoice or ISD
Credit Note
28
GOODS & SERVICE TAX INVOICE
RULES Invoicing in Special Cases (Cont’d…)
• Input Service Distributor - The tax invoice issued by ISD shall contain the
following details
– Name, Address and GSTIN of ISD
– Consecutive serial number
– Date of Issue
– Name, Address and GSTIN of the supplier of services, the credit in respect of which is being distributed and the serial number and date of invoice issued by such supplier
– Name, Address and GSTIN of recipient to whom the credit is being
distributed
– Amount of credit distributed
– Signature or Digital signature of the supplier or his authorised
representative. 29
GOODS & SERVICE TAX INVOICE
RULES Invoicing in Special Cases
•The Rules also contain special provisions relating to:
– Export
– Supplementary tax invoice
– Credit/Debit note
– Receipt Voucher
– Tax invoice issued by Input Service Distributor (ISD)
– Insurance/Banking company or financial institution (including NBFC)
– Goods transportation agency
– Passenger transportation service
– Transportation of goods without issue of invoice 30
GOODS & SERVICE TAX INVOICE
RULES Invoicing in Special Cases (Cont’d…)
•Goods Transport Agent - Where the supplier is a goods transport agency supplying
services in relation to transportation of goods by road in a carriage, tax invoice shall
include any document in lieu thereof and shall contain the following details:
– Gross weight of the consignment
– Name of consignor and the consignee
– Registration number of the goods carriage
– Details of goods transported
– Details of place of origin and destination
– GSTIN of the person liable for paying tax whether as consignor/consignee/GTA
– All other details as mentioned for tax invoice
31
GOODS & SERVICE TAX INVOICE
RULES Transportation of goods without issue of invoice
•If the goods are being transported for the purpose of supply to the recipient but the tax invoice
could not be issued at the time of removal of goods, the supplier shall issue a tax invoice after
delivery of goods.
• Where goods are being transported on a delivery challan in lieu of invoice, the same shall be
declared in FORM [WAYBILL].
• The consigner may issue a delivery challan, serially numbered, in lieu of invoice at the time of
removal of goods for transportation in the following cases, namely :-
– Supply of liquid gas where the quantity at the time of removal from the place of
business of the supplier is not known
– Transportation of goods for job work
– Transportation of goods for reasons other than supply
– Such supplies as may be notified by the Board
32
GOODS & SERVICE TAX INVOICE
RULES Transportation of goods without issue of invoice (Cont’d)
The delivery challan shall contain the following details : -
– Date and number of the delivery challan,
– Name, address and GSTIN of the consigner, if registered,
– Name, address and GSTIN or UIN of the consignee, if registered,
– HSN code and description of goods,
– Quantity (provisional, where the exact quantity being supplied is not known)
– Taxable value,
– Tax rate and tax amount – central tax, State tax, integrated tax, Union territory tax
or cess, where the transportation is for supply to the consignee,
– Place of supply, in case of inter-State movement
– Signature.
The delivery challan shall be prepared in triplicate, in case of supply of goods 33
GOODS & SERVICE TAX INVOICE
RULES Transportation of goods in CKD(Completely knocked down)/SKD
(Semi knocked down)condition
The following procedure shall be applicable for transportation of goods in CKD and SKD
condition :-
– A complete invoice to be issued before dispatch of the first consignment;
– A delivery challan shall be issued for each of the subsequent consignments, giving
reference of the invoice;
– Each consignment is to be accompanied by copies of the corresponding delivery
challan along with a duly certified copy of the invoice; and
– The original copy of the invoice shall be sent along with the last consignment.
35
GST INVOICE :POSERS
Case Law.1:
X Ltd, a supplier of goods, have a GST liability under section 9-40 of the Australia GST
Act when it supplies goods to a company Y Ltd that refuse to pay GST components
included in the goods?.(Invoice issued with out charging GST Separately)
Case Law No.2:
Mr. A, a solicitor, required to issue a tax invoice under subsection 29-70(2) of the
Australia GST Act to an insurer Z Ltd, where the insurer requests a tax invoice in respect
of legal services provided by the Mr. A to an injured worker of Z Ltd.?
36
RULES:E WAY BILL
What is an e-way bill?
E-way bill is an electronic way bill for movement of goods which can be generated on the GSTN (common portal). A „movement‟ of goods of more than Rs 50,000 in value cannot be made by a registered person without an eway bill.
When should an e-way bill be generated?
E-way bill will be generated when there is movement of goods –In relation to a „supply‟
What is a ‘supply’ in case of e-way bill?
A supply may be –
Supplied for a consideration (means payment) in the course of business
Supplies made for a consideration (payment) which may not be in the course of business
Supplies without consideration ( without payment)
Who can generate e-way bill?
E-way bill must be generated when there is a movement of goods of more than Rs 50,000 in value to or from a Registered Person. Registered person or the transporter may choose to generate and carry e-way bill even if value of goods is less than Rs 50,000.
Unregistered persons or his transporter may also choose to generate e-way bill. Which means eway bill can be generated by both registered and unregistered persons. However, where a supply is made by an unregistered person to a registered person, the receiver will have to do all the compliances as if he‟s the supplier.
37
RULES: VALIDITY OF E WAY BILL
38
Distance Valid from Valid for
Less than 100km Date & time at which e-way
bill is generated
1 day
100km to 300km Date & time at which e-way
bill is generated
3 days
300km to 500km Date & time at which e-way
bill is generated
5 days
500km to 1000km Date & time at which e-way
bill is generated
10 days
1000km or more Date & time at which e-way
bill is generated
15 days
GST: PROVISIONS FOR PAYMENT OF TAX, INTEREST, PENALTY AND OTHER AMOUNTS (SEC.49) Generally, Supplier is liable to pay the tax,Interest and Penalty/other amount.
In Other cases like:
• Imports and other notified supplies, liabilities(BCD,CVD &SAD) may be
imposed on the recipient under the reverse charge mechanism (RCM)
By third person for example in case of :
E-Commerce = Operator is responsible for TCS
Contractual Payments = Government / Other notified entities are
responsible for TDS
40
GST: ELECTRONIC TAX LIABILITY REGISTER
Electronic tax liability register is a register to be maintained in the
common portal of GST
In Form GST PMT-01 to record all liabilities of a taxable person.
Part-I is for recording return related liabilities and
Part-II is for recording other than return related liabilities.
41
GST: ELECTRONIC TAX LIABILITY REGISTER
DEBITS CREDITS
(i) amount payable towards tax, interest, late
fee or any other amount payable as per the
return filed by the said person;
(i) Electronic credit ledger
(ii) amount of tax, interest, penalty or any
other amount payable as determined by a
proper officer in pursuance of any proceeding
under the Act or as ascertained by the said
person;
(ii) Electronic cash ledger
(iii) amount of tax and interest payable as a
result of mismatch under section 42 or section
43 or section 50; or
(iii) Relief given by the appellate
authority
(iv) any amount of interest that may accrue
from time to time.
(iv) Reduction in penalty (if any)
42
GST: Electronic Credit Ledger Every claim of Input Tax Credit under the Act shall be credited to the
electronic credit ledger maintained in Form GST PMT-02.
CREDITS
Input tax credit balance uploaded from return filed under earlier laws
would be auto populated in this ledger;
ITC would be of stock of Inputs, Semi-finished goods & Finished
goods on the relevant date, from which Taxpayer becomes liable;
ITC on inward supplies from Registered Tax Payers;
ITC distributed from Input Service Distributor (ISD);
Permissible ITC on stock held upon conversion from composition
scheme;
ITC eligible on payment made on reverse charge basis.
43
GST: Electronic Credit Ledger DEBITS Payments of TAX under GST;
Payments of Interest;
Payments of Penalty;
Other Payments;
Towards claim for refund of unutilized amount;
(FORM GST PMT-2A)
44
GST: ELECTRONIC CASH LEDGER
Electronic cash ledger is a register to be maintained in the common
portal of GST for each registered taxable person in Form GST PMT-05
To record deposit of tax under GST,
To record deposit of interest,
To record deposit of penalty and other amounts,
Utilization thereof and refund.
45
GST: ELECTRONIC CASH LEDGER
DEBITS CREDITS
(i) Amount payable towards tax, interest, late
fee or any other amount payable
(i) Payment made through challan on
receipt of CIN
(ii) Towards claim for refund of any amount (ii) Amount deducted under Section
46(TDS) and claimed in Form GSTR-2
(iii) Amount collected under Section
56(TCS) and claimed in Form GSTR-2
(iv) Reversal of amount debited
earlier on account of final rejection of
refund (Form GST
PMT-03)
46
GST: PAYMENT IN ELECTRONIC CASH LEDGER
• Any person, or a person on his behalf, shall generate a challan in FORM
GST PMT-06 and enter the details of the amount to be deposited by him
towards tax, interest, penalty, fees or any other amount.
• The payment can be made through the following modes :
1. Internet Banking through authorized banks
2. Credit card or Debit card
3. NEFT/ RTGS
4. Over the Counter payment (OTC) through authorized banks for deposits
up to ten thousand rupees per challan per tax period, by cash, cheque or
demand draft. However, this amount restriction shall not apply to deposits
made by the Government or notified persons, or by the proper officer
authorized for recovery or during investigation / enforcement proceedings.
• The challan in FORM GST PMT-06 shall be valid for a period of fifteen
days.
• Payment made by a person who is not registered under the Act, shall be
made on the basis of a temporary identification number generated through
the Common Portal.
47
GST: PAYMENT-FORMS
PAYMENT FORMS DESCRIPTION
Form GST PMT-01 Maintenance of Electronic Tax Liability
Register.(All amounts payable by taxable person
will be debited to the said register.)
Form GST PMT-02 Maintenance of Electronic Credit Ledger.
(Every claim of input tax credit under the GST
Law will be credited to this Ledger.)
Form GST PMT-03 Order by proper officer rejecting refund
( Any rejection of refund of any unutilized amount
from the electronic credit/cash ledger)
Form GST PMT-04 Discrepancy in Electronic Credit Ledger
(The registered person shall, upon noticing any
discrepancy in his electronic credit ledger,
communicate the same to proper office through
the GSTN Portal)
48
GST: PAYMENT-FORMS Continued…. PAYMENT FORMS DESCRIPTION
Form GST PMT-05 Maintenance of Electronic Cash Ledger
(The amount deposited will be credited to this ledger
and the payments made towards tax, interest,
penalty, fee or any other amount will be debited to
this ledger.)
Form GST PMT-06 Challan shall be generated by registered taxable
person or any other person on his behalf. The
Challan so generated shall be valid for a period of 15
days.
Form GST PMT-07 Form of representation in case bank account of the
concerned taxable person is debited but Challan
Identification Number (CIN) is not generated or not
communicated after generation.
49
RETURN-BASIC FEATURES
Self-assessment of tax liability by the taxpayer
Common e-Return for CGST, SGST, IGST. Separate returns for different categories of taxpayers
Returns by a normal / casual taxpayer to be filed in sequential manner with different cut-off dates to allow auto-population of return & automated matching of invoices.
Payment of due tax is must for filing valid return
Returns can be submitted with short payment but shall be treated as invalid – not taken into account for invoice matching & inter-Government fund settlement.
Provision for filing revised information
Differential Tax liability to be captured through Debit Note/ Credit Note/ Supplementary invoices / correction mechanism.
51
GST: RETUN FILING
Pre - GST Regime Post - GST Regime
Need not file all Sales
Transactions online (Except
some States)
All your Invoices details to be filed
with GST Every month(Not Scan
copy)
Credit availed based on
Purchase Invoice
Credit received ONLY when Vendor
pays taxes and files Monthly
Returns
One Return per month/ period Min. Three Returns every month
Follow-up with vendor mostly for
„C‟ Forms
Follow-up with vendor every month
for uploading of supplies after
payment of tax.
Multiple Law Compliance Single window filing 52
NORMAL/REGULAR TAX PAYERS - MONTHLY RETURN
Action Return
• Upload details of outward supply on or before 10th of following month
GSTR-1
• Data will be auto populated in 2A of Recipient tax payer GSTR-2A
• Actions of Accept, Reject or Modify has to be taken • Additions can be made • Return needs to be filed after 10th and on or before 15 of
following month
GSTR-2
• Rejections, modifications and additions in GSTR-2 will be
made available to supplier in 1A • Supplier has to take action by 17th
GSTR-1A
• Auto-populated return will be available for submission along
with the payment on 20th GSTR-3
53
GST RETURNS, PERIODICITY AND DUE
DATES Section Return
Type
For Periodicity Due Date
37 GSTR-1 Outward Supplies Made by Tax
payer. The "Detail of Outward
supplies" shall include invoice,
debit notes, credit notes and
revised invoices
Monthly 10th of Next Month. recipient
of supplies, can either
accept or reject the detail
so communicated on or
before 17th of the next
month
38 GSTR-2 Inward Supplies Made by Tax
payer. The details of inward
supplies added, corrected or
deleted by the recipient in his
FORM GSTR-2 shall be made
available to the supplier
electronically in FORM GSTR-1A
Monthly 15th of Next Month.
supplier may either accept
or reject the modifications
made by the recipient and
FORM GSTR-1 furnished
by the supplier shall stand
amended to the extent of
modifications accepted by
him.
39(1) GSTR-3 Tax Return (other than
Composition & ISD Dealer)
Monthly 20th of Next Month
39(2) GSTR-4 Composition Dealer Quarterly 18th of Next Month
54
GST RETURNS, PERIODICITY AND
DUE DATES
Section Return Type For Periodicity Due Date
39(4) GSTR -6 ISD Monthly 13th of Next Month
39(3) GSTR –7 Return of TDS Monthly 10th of Next Month
44 GSTR-9 Annual Return Annually 31st December of Next
FY.
39(5) GSTR-5 Periodic Return
by Non-Resident
Foreign Taxpayer
Within 20 Days after the end of Tax
period or within 7 days after the last date
whichever is earlier?
55
HSN CODES & SERVICE ACCOUNTING CODE
HSN Code for goods - in invoice level details
4-digit HSN Code mandatory for taxpayers having turnover above Rs. 5 Crore in
preceding FY
2-digit HSN Code for taxpayers with turnover between Rs. 1.5 Crore & Rs. 5
Crore in preceding FY - optional in 1st Year and mandatory from 2nd Year
8-digit HSN Code mandatory for exports & imports
Accounting Codes for services – in invoice level details
Mandatory for those services for which Place of Supply Rules are dependent on
nature of services
Mandatory for exports & imports
Service Accounting Code to be prefixed with „s‟ for differentiating from HSN
56
MATCHING OF ITC – SEC 42
• After the due date of furnishing the form GSTR 3
• Following details to be matched
(a) GSTIN of the supplier
(b) GSTIN of the recipient
(c) Invoice/Debit Note date
(d) Invoice/Debit Note number
(e) Taxable value
(f) Tax amount 57
MATCHING OF ITC – SEC 42
B2B supply information given by the supplying taxpayer in GSTR-1 will be auto-
populated into GSTR-2 of the counter-party purchaser
Purchasing taxpayers will be allowed to add invoice details in GSTR-2 & avail credit if
he is in possession of valid invoice & have received supply of goods or services
Counterparty registered taxpayers shall have a 2-day window to reconcile invoice
information among themselves prior to filing of GSTR-3
Credit availed on unmatched invoices shall be auto-reversed in the next to next return
period (e.g. mismatched ITC for April to be auto-reversed in return for June)
58
FILING OF RETURN
To be filed by taxpayer at GST Common Portal either:
by himself logging on to the GST System using his own user ID & password; or
through his authorized representative using the user Id & password (allotted to
the authorized representative by the tax authorities), as chosen at the time of
registration, logging on to the GST System
Filing may be done through TRPs / FCs/GSP also
Filing may be done either directly or by using Applications developed by accounting
companies / IT companies which will interact with GST System using GSP.
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ASP/GSP: FOR COMPLIANCES UNDER GST
For successful filing of returns , all records will have to be maintained in the ERP/Tally/Other Software's.
GSP and ASP will provide related services.
ASP will be responsible for developing the necessary software bridge.
GSP will be responsible for the proper uploading of invoices and filing of returns from technical perspective as vanilla SAP output will be incompatible with GSTN accepted formats.
ACTION: Assesse to evaluate and initiate the process of identification and appointment of GSP and ASP
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REVISION
Revision of information permitted
Changes in Tax liability / ITC amount to be handled through Ø Debit- Credit Notes
Revision of supply invoices
Post sales discount
Volume discount
Amendments / Corrections
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E-COMMERCE: Some litigation –VAT /CST
• VAT/CST
• Kerala VAT Dept. – VAT on goods hosted on web-portals
• Demand quashed by Kerala HC [Filpkart Internet (P) Ltd. v/s State of Kerala
W P 5348 & 6916 of 2015 dt.31.10.2015]
• Karnataka VAT Dept. – VAT on goods sold from godowns of e-trailers.
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E-COMMERCE: – PRESENT SERVICE TAX LAWS
• Rendition of services
• Place of Provision of Services Rules, 2012
• Point of taxation Rules, 2011
• Valuation Rules- Service Tax (Determination of Value) Rules, 2006
• Cenvat Credit Rules
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E-COMMERCE:SOME OTHER LEVIES
Entry tax
• Some states like WB, Orissa charge E-commerce companies additional taxes for
delivering product to customers in their states.
Equalization levy
• On income they earn on a/c of soliciting advertisements and from Indian advertisers
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E-COMMERCE :DEFINITONS • Sec 2(44) - electronic commerce
• means supply of goods and/or services
• including digital products
• over digital or electronic network
• Sec 2(45) - electronic commerce operator
• means any person who owns, operates or manages
• digital or electronic facility or platform
• for electronic commerce
• Issue - Does Tele-shopping fall under the term electronic network?
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E-COMMERCE :PLACE OF SUPPLY • Services Provided by E-comm Operator to supplier
• Place of Supply of Service – Gen Rule will apply – Always location of Service
receiver – since compulsory registration.
• Services Provided by E-comm Operator to supplier of transportation of goods
• Place of Supply of Service – Sec 12(9) of IGST Act
• location of Service receiver(if registered) or
• location at which such goods are handed over for their transportation
• Supply of goods/Provision of Service by supplier to customer
• For Goods: Place of Supply - Where movement of goods terminates for delivery.
• For Services: to registered person(B2B) : Registered address of recipient
: to unregistered person(B2C): Address on record of person
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E COMMERCE OPERATOR- LIABLE TO TAX [SECTION 9(5)]
• Central State Govt on council‟s recommendation, notify and specify categories of
services – tax to be paid by E-commerce operator
• Provided – if operator does not have physical presence in taxable territory -Any
person representing the Operator is liable to pay GST
• Provided further – where operator does not have a representative in such a territory
– operator shall appoint a taxable person in the taxable territory for the purposes of
paying tax
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E-COMMERCE OPERATOR
E-commerce operator required to collect tax at source (TCS) at the rate not exceeding
1% for the supplies made through it by other suppliers.
Suppliers can take credit of TCS paid by e-commerce operator.
E-commerce operator shall be liable to pay GST in respect of notified services
supplied through it.
E-commerce Operator submit statement to Government every month.
Annual Return has to be filed before 31st December of next Financial Year. This return
would include supplies made, supplies returned and TCS collected.
Matching of statement of e-commerce operator and credit taken by suppliers.
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E-COMMERCE OPERATOR
Deletion of deemed supplies by aggregators: The concept of aggregators and
deemed supplies of branded services by an aggregator under his own brand name or
trade name has been deleted under the Revised Model GST Law.
Electronic Commerce Operator liable for specified services: Electronic Commerce
Operator has been made liable to pay tax on certain specified categories of services, as
may be notified. In case Electronic Commerce Operator does not have physical presence
in the taxable territory, his representative in taxable territory shall be liable to pay tax.
Further in case he does not even have a representative in taxable territory, he shall
appoint a person in taxable territory for the purpose of paying tax.
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E-COMMERCE OPERATOR
TCS on net value of taxable supplies: - Electronic Commerce Operator will
be liable to collect tax at source on the net value of taxable value of supplies
made through its portal. “Net value of taxable supplies” shall mean the
aggregate value of taxable supplies of goods or services, other than services
for which Electronic Commerce Operator is itself liable to pay tax made
during a month by all registered taxable persons reduced by the aggregate
value of taxable supplies returned to the suppliers during the said month.
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THANKS!!
ANY QUESTIONS ?
CONTACT FOR POST SESSION QUERY:
CA. (Dr.) Shailendra Saxena
Senior Advisor | JLN US & Co.
E-mail: [email protected]
Cell: +91-93774-10260
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