Relief provided in One Month 7 GST Returns It has been changed to 3 GST returns GSTR1, GSTR 2, GSTR3, Due date Extended for July and Aug 2017 As we already knew that in September month there are 7 returns to be filed under GST (for July & august) and this month is going to be a bit hectic. In this write-up, an over view of all the forms together with their due daates are being discussed: For the Month of July, 2017  

Name of the Form	Due date
GSTR-1	10th September, 2017
GSTR-2	25th September, 2017
GSTR-3	30th September, 2017

  For the Month of August, 2017

Name of the Form	Due date
GSTR-1	5th October, 2017
GSTR-3B	10th October, 2017
GSTR-2	15th October, 2017
GSTR-3	26th to 30th September, 2017

Lets have an overview of the above mentioned forms. FORM GSTR-1 (Details of outward supplies of goods or services) What is FORM GSTR-1 FORM GSTR-1 is for outward suppliers. It contains the details of sales during a particular month. Every registered person is required to file FORM GSTR-1 irrespective of the fact whether there are any transactions during the month of not. Who are not required to file FORM GSTR-1 Following are the persons who are not required to file:

• Input service distributor
• Composite dealers
• Suppliers of online information and database access or retrieval services (OIDAR), who have to pay tax themselves (as per Section 14 of the IGST Act)
• Non- Resident taxable person
• Taxpayer liable to collect TCS
• Taxpayer liable to deduct TDS

It may be noted that once GSTR-1 is filed, it cannot be revised. Any mistake will be rectified in the next months return.   What are the details to be furnished in FORM GSTR-1 There are 13 different heads in the form. Following are the details to be furnished in FORM GSTR-1:

1. GSTIN of the person filing the return (Auto- Populated)
2. Name of the taxable person (Auto Populated)
3. Aggregate turnover in the preceeding financial year & Aggregate turnover from April to June, 2017
4. Taxable outward supplies made to registered persons (including UIN holders) other than covered by Table 6
5. Taxable outward inter-state Supplies to un-registered persons where the invoice value is more than 2.5 lakh.
6. Zero- rated supplies and Deemed Exports
7. Taxable Supplies (Net of debit notes and credit notes) to unregistered persons other than the supplies covered in Table 5
8. Nil- rated, exempt and non- GST outward supplies
9. Amendments to taxable outward supply details furnished in returns for earlier tax periods in table 4,5 & 6 [including debit notes, credit notes, refund vouchers issued during current period and amendments thereof]
10. Amendments to taxable outward supplies to unregistered persons furnished in returns for earlier tax periods in Table 7
11. Consolidated statement of advances received/advance adjusted in the current tax period/ amendments of information furnished in earlier tax period
12. HSN-wise summary of outward supplies
13. Documents issued during the tax period

FORM GSTR-2 Details of inward supplies of goods or services What is FORM GSTR-2 Form GSTR-2 is for inward suppliers. Every Registered dealer is required to furnish the details of Inward supplies in Form GSTR-2. Once the outward supplier filled their sales information in Form GSTR-1, now the inward suppliers comes into picture. Now the recipient is to file their receipts of goods or services in Form GSTR-2. Who are not required to file FORM GSTR-2 Following are the persons who are not required to file:

• Input Service Distributor
• Compounding Taxable persons

What are the details required to be furnished in FORM GSTR-2 Following are the details required to be furnished:

1. 15 digit GSTIN of the dealer (Auto- populated)
2. Legal name of the registered person (Auto populated)
3. Inward supplies received from a registered person other than the supplies attracting reverse charge
4. Inward supplies on which tax is to be paid on reverse charge
5. Goods/ Capital Goods received from Overseas (import of goods) or from SEZ units on a Bill of Entry
6. Amendments in Goods / Capital Goods Received from Overseas (Import of goods) of Earlier Tax Periods in Tables 3, 4 and 5 [including debit notes/credit notes issued and their subsequent amendments]
7. Supplies received from composition taxable person and other exempt/Nil rated/Non GST supplies received
8. ISD Credit Received
9. TDS & TCS Credit Received
10. Consolidated Statement of Advances paid/Advance adjusted on account of receipt of supply
11. ITC Reversal/ Reclaim
12. Addition and reduction of amount in output tax for mismatch and other reasons
13. HSN summary of inward supplies

 

• GST Due Date Calendar SEP 2017

  FORM GSTR-3 Monthly return What is FORM GSTR-3 Form GSTR-3 is a monthly return, wherein every registered business is required to furnish the details of Inward & Outward supplies and make GST payment. What are the details to be furnished in FORM GSTR-3 Following are the details, required to furnish in Form GSTR-3:

1. GSTIN (Auto- populated)
2. Name of the taxable person (Auto- populated)

PART-A

3. Turnover Details
4. Outward Supplies
5. Inward Supplies attracting reverse charge including import of services (Net of advance adjustments)
6. Input tax credit
7. Addition and reduction of amount in output tax for mismatch and other reasons
8. Total tax liability
9. Credit of TDS and TCS
10. Interest liability
11. Late Fee

PART-B

12. Tax payable and paid
13. Interest, Late Fee and any other amount (other than tax) payable and paid
14. Refund claimed from Electronic cash ledger
15. Debit entries in electronic cash/Credit ledger for tax/interest payment [to be populated after payment of tax and submissions of return]

FORM GSTR-3B Already covered in below article:

How to file GST return 3B

Conclusion: Every taxpayer has to pull their socks up, as in September month there are seven returns to be filed. In addition to this, Form TRAN-1 is also to be filed by those who did not availed transitional credit in the month of August, 2017. In my next article, How to file Form GSTR-1 will be taken up. References:

Notification	Date
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-18-central-tax-english.pdf	8th August, 2017
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-19-central-tax-english.pdf	8th August, 2017
http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-20-central-tax-english.pdf	8th August, 2017
http://www.cbec.gov.in/resources//htdocs-cbec/gst/cgst-rules-01july2017%20.pdf	-

Hope this information will help you in your Professional endeavors. For further assistance/query, feel free to write to us. Author: C S Ekta Maheshwari is the Author of this article and is Company Secretary by profession. The Author can be reached at [email protected] Disclaimer: The entire contents of this article is solely for information purpose and have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation.. It doesnt constitute professional advice or a formal recommendation. The author has undertook utmost care to disseminate the true and correct view and doesnt accept liability for any errors or omissions. You are kindly requested to verify & confirm the updates from the genuine sources before acting on any of the informations provided herein above.