Key components of GSTR 1 (Outward supplies by Tax payers)
Every registered person, other than an Input Service Distributor, a non-resident taxable person and a person paying tax under the provisions of section 10 or section 51 or section 52, shall furnish, electronically, in such form and manner as may be prescribed, the details of outward supplies of goods or services or both effected during a tax period on or before the tenth day of the month succeeding the said tax period and such details shall be communicated to the recipient of the said supplies within such time and in such manner as may be prescribed: Provided that the registered person shall not be allowed to furnish the details of outward supplies during the period from the eleventh day to the fifteenth day of the month succeeding the tax period: Provided further that the Commissioner may, for reasons to be recorded in writing, by notification, extend the time limit for furnishing such details for such class of taxable persons as may be specified therein: Provided also that any extension of time limit notified by the Commissioner of State tax or Commissioner of Union territory tax shall be deemed to be notified by the Commissioner.
GSTR 1 needs to be filed even if there is no business activity (Nil Return) in the tax period.Filing of GSTR-1 for current month is possible only when GSTR-1 for the previous month has been filed.All values like invoice value, taxable value and tax amounts in GSTR- 1 are to be declared up to 2 decimal digits. The rounding off of the self-declared tax liability to the nearest rupee will be done in GSTR 3.Taxpayer opting for voluntary cancellation of GSTIN will have to file GSTR-1 for active period.In cases where a taxpayer has been converted from a normal taxpayer to composition taxpayer, GSTR 1 will be available for filing only for the period during which the taxpayer was registered as normal taxpayer. The GSTR 1 for the said period, even if filed with delay would accept invoices for the period prior to conversion.
Who is required to furnish details of outward supplies? [Section 37(1) read with rule 59(1) of CGST Rules] The details of outward supplies (see definition) of both goods and services are required to be furnished by every registered person including casual registered person except the following:
Input service distributor (ISD)non-resident taxable person (NRTP)person paying tax under composition schemeperson deducting tax at sourceperson collecting tax at source i.e., ecommerce operator (ECO), not being an agenta supplier of online information and database access or retrieval services (OIDAR)
The above excluded persons have to file special returns which have been discussed in subsequent pages of this Chapter under Heading No. 6 “Special Returns”. (ii) What is the form for submission of details of outward supplies? [Section 37(1) read with rule 59(1) of CGST Rules] The details of outward supplies are required to be furnished, electronically, in Form GSTR-1. Such details can be furnished through the common portal, either directly or from a notified Facilitation Centre. (iii)What is the due date of submission of GSTR-1? [Section 37(1)] GSTR-1 for a particular month is filed on or before the 10th day of the immediately succeeding month. In other words, GSTR-1 of a month can be filed any time between 1st and 10th day of the succeeding month. It may be noted that GSTR-1 cannot be filed during the period from 11th day to 15th day of month succeeding the tax period. The due date of filing GSTR-1 may be extended by the Commissioner/Commissioner of State GST/Commissioner of UTGST for a class of taxable persons by way of a notification. A taxpayer cannot file GSTR-1 before the end of the current tax period. However, following are the exceptions to this rule:
a. Casual taxpayers, after the closure of their business b. Cancellation of GSTIN of a normal taxpayer
A taxpayer who has applied for cancellation of registration will be allowed to file GSTR-1 after confirming receipt of the application.
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Key components of GSTR-2 (Inward Supplies)
Every registered person, other than an Input Service Distributor or a non-resident taxable person or a person paying tax under the provisions of section 10, section 51 or section 52, shall verify, validate, modify or delete, if required, the details relating to outward supplies and credit or debit notes communicated under sub-section (1) of section 37 to prepare the details of his inward supplies and credit or debit notes and may include therein, the details of inward supplies and credit or debit notes received by him in respect of such supplies that have not been declared by the supplier under sub-section (1) of section 37. What is the form for submission of details of inward supplies? [Section 38(2) read with rule 60(1) of CGST Rules]
The details of inward supplies are required to be furnished, electronically, in Form GSTR-2. Such details can be furnished through the Common Portal, either directly or from a notified Facilitation Centre.
What is the due date of submission of GSTR-2? [Section 38(2)] GSTR-2 for a particular month is filed after the 10th day but on or before the 15th day of the immediately succeeding month. The details of inward supplies pertaining to the month of October will be required to be furnished between 11th November and 15th November. The due date of filing GSTR-2 may be extended by the Commissioner/Commissioner of State GST/Commissioner of UTGST for a class of taxable persons by way of a notification. What kind of details of inward supplies are required to be furnished in GSTR-2? [Section 38(2) read with rule 60(8) of CGST Rules] The details of inward supplies of goods or services or both furnished in GSTR- 2 include the
(a) invoice wise details of all inter-State and intra-State supplies received from registered persons or unregistered persons including inward supplies taxable under reverse charge(b) import of goods and services made; and(c) debit and credit notes, if any, received by the registered person from suppliers in respect of above supplies
Key components of GSTR-3
GSTR-3 is generated only when GSTR-1 and GSTR- 2 for the same tax period is filed. Electronic liability register, electronic cash ledger and electronic credit ledger are updated on generation of GSTR-3. The return is divided into 2 parts, namely Part A and Part B.As per rule 61(2), Part A shall be auto populated on the basis of information furnished through returns in GSTR-1, GSTR-2 and based on other tax liabilities of preceding tax periods.
Payment of tax
The registered person will discharge his liability towards tax, interest, penalty, fees and other amounts by debiting electronic cash ledger and/or electronic credit ledger and include the details in Part B of GSTR-3 in terms of rule 61(3).GSTR-3 filed without discharging complete liability will not be treated as valid return. If taxpayer has filed a return which was not valid earlier and later on, he intends to discharge the remaining liability, then he has to file the Part B of GSTR-3 again.
Refund
Refund of any balance in the electronic cash ledger can be claimed in Part B of GSTR-3.Such return will be deemed to be an application filed under section 54. 12.Such refund can be claimed only when all the return related liabilities for that tax period have been discharged.Electronic cash ledger will be debited on filing of valid GSTR-3 as a result of such refund.
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