Payments & Returns under GST Accounts, E-Way bills Payments & Returns under GST Kush Vora Kalyan- Dombivli Branch of WIRC of ICAI 06.06.2017 Powerpoint Templates

1. Accounts and Records Separate Powerpoint Templates

Accounts & Records.. E.g. Invoices Bill of supply Delivery challans Production or manufacture of goods Inward & outward supply of goods & service both Stock of goods Input tax credit availed Output tax payable and paid E.g. Invoices Bill of supply Delivery challans Credit notes Debit notes Receipt vouchers Refund vouchers E-Way bills Subodh Vora & Co., Chartered Accountants. All rights reserved

..Accounts & Records (Other Points) 1. Accounts of additional place to be kept at respective places in addition to principal place of business 2. Accounts maintainable even in electronic form as may be prescribed 3. Accounts to be audited by Chartered Accountant or Cost Accountant if TO exceeds prescribed limit 4. Accounts to be retained till 72 months from due date of filing of annual return i.e. effectively 6 year 9 months . 5. In case of pending appeal, revision, etc till 1 year after disposal of case Subodh Vora & Co., Chartered Accountants. All rights reserved

..Accounts & Records (Other Points) 6. Accounts to be maintained separately for trading, manufacturing and services 7. Monthly production accounts showing quantitative details of RM, services ,etc 8. Agents to maintain specific accounts such as authorization papers, accounts furnished to principal, etc 9. Works contractor- Separate account for each WC and as prescribed 10. Godown operator/ transporters- Stringent provisions Subodh Vora & Co., Chartered Accountants. All rights reserved

2. E-Way Bill Powerpoint Templates

PROCESS OF E-WAY BILL Every supplier whose consignment value > 50,000 Before commencement of movement- part A of E-Way Bill If goods sent through transporter, he has to file part B of E-Way bill Unique E-Way Bill No. to be provided to supplier, transporter & recipient Recipient to communicate acceptance or rejection within 72 hours If no reply filed, deemed to be accepted] Subodh Vora & Co., Chartered Accountants. All rights reserved

OTHER POINTS (E-WAY BILL) Multiple consignment in one truck- Consolidated E-Way Bill Cancellation of E- Way bill provided Copy of E-Way bill along with invoice copy to be carried by transporter Facility of linking E-Way bill to RFID also provided Proper officers to be empowered to verify E-Way Bill for all inter state and intra state movement of goods. Inspection report also to be uploaded. Subodh Vora & Co., Chartered Accountants. All rights reserved

Subodh Vora & Co., Chartered Accountants. All rights reserved VALIDITY OF E-WAY BILL Sr. No. Distance Validity period 1. Less than 100 km 1 day 2. 100 km – 300 km 3 days 3. 300 km – 500 km 5 days 4. 500 km – 1000 km 10 days 5. 1000 km or more 15 days Subodh Vora & Co., Chartered Accountants. All rights reserved

3. Payments under GST Powerpoint Templates

“ELECTRONIC CASH LEDGER Debit Credit Payment of liability TDS liability TCS liability RCM liability XXX Cash Payment/ NEFT/ RTGS/ETC XXX Subodh Vora & Co., Chartered Accountants. All rights reserved

“ELECTRONIC CREDIT LEDGER Debit Credit Payment of liability XXX Refund of unutilized credit XXX ITC claimed as per return XXX Subodh Vora & Co., Chartered Accountants. All rights reserved

AVAILMENT OF INPUT TAX CREDIT ITC CGST IGST SGST AVAILMENT OF INPUT TAX CREDIT Subodh Vora & Co., Chartered Accountants. All rights reserved

ELECTRONIC TAX LIABILITY LEDGER Debit Credit Tax, Interest, Late fees payable as per return Tax, interest, penalty as determined by proper officer in any proceedings Tax and interest payable due to mismatch Interest from time to time XXX Payment by Electronic Credit Ledger Payment by Electronic Cash Ledger Any relief given by Appellate Tribunal or court Subodh Vora & Co., Chartered Accountants. All rights reserved

4. Returns and matching under GST Powerpoint Templates

RETURN PROCESSES Return Form Type of Return Time Limit Total Returns per year GSTR-1 Outward Supplies 10th of Next Month 12 GSTR-2 Inward Supplies 15th of Next Month GSTR-3 Main Return 20th of Next Month GSTR-4 Quarterly return (Composition) 18th of next quarter 4 GSTR-6 Input Service Distributor 13th of Next Month GSTR-7 TDS Return E-Commerce Operator To be prescribed 1 GSTR-8 Annual Return 31st December following F.Y. Subodh Vora & Co., Chartered Accountants. All rights reserved

MATCHING CONCEPT 15th- GSTR 2 (Final Inward supply) 10th- GSTR 1 (Outward Supply) 11th- GSTR 2A (Draft Inward details) Auto populated Omission or correction Auto populated MIS 1 Mismatch report 20th- GST 3 (Main return) 16th- GSTR 1A Final matching Accept or reject changes & modify GST 1 Subodh Vora & Co., Chartered Accountants. All rights reserved

Subodh Vora & Co., Chartered Accountants. All rights reserved MATCHING CRITERIA GSTIN of supplier GSTIN of recipient Invoice/ debit note number Invoice/ debit note date Taxable Value Tax amount Subodh Vora & Co., Chartered Accountants. All rights reserved

THANK YOU Partners Subodh Vora Kush Vora Bhakti Vora M: +91-9821151467 | E: subodh@scvora.com Kush Vora M: +91-9821305187| E: kush.vora@scvora.com Bhakti Vora M: +91-9821362481| E: bhakti.vora@scvora.com D-723/ 724, Neelkanth Business Park, Vidyavihar (West), Mumbai 400086 022-25138594 | 022-25148595 | 022-25148596 www.scvora.com