1. Study Circle Meeting on GST
Returns Under GST and Matching Input Tax Credit
Study Circle Meeting on GST
Cochin Chapter of Institute of Cost Accountants of India

2. Who needs to file Return in GST?
Every registered dealer is required to file return for the prescribed tax period.
A Return needs to be filed even if there is no business activity (i.e. Nil Return) during the said tax period of return;
Persons engaged exclusively in the business of supplying goods and/or services that are not liable to tax or wholly exempt from tax or an agriculturalist doing agricultural activity would neither be required to obtain registration nor required to file returns under the GST law. [Refer: Schedule V clause 2 (a) & 2 (b)]
Every person who has been issued a Unique Identity Number shall furnish details of Inward Supplies [Refer: Sec 23 sub sec 7]

3. Salient Features of GST Returns
Filing of returns would only be through Electronic mode. Facility of online and offline generation and preparation of returns will also be available. The returns prepared in the offline mode will have to be uploaded.
There will be common e-return for CGST, SGST, IGST
A registered Tax Payer shall file GST Return at GST Common Portal either by himself or through his authorized representative;
There would be no revision of Returns. Changes to be done in subsequent Returns

4. “Returns” deals under GST…
Sections 32 to 43 (Chapter – VIII) of revised Model GST Law released in November 2016.
Draft Goods and Service Tax Return Rules, 20-- published in June 2016
Returns can be broadly classified based on type of Dealers
Regular Dealer
Composite Tax payer
Foreign Non – Resident Tax Payer
Input Service Distributor
Tax Deductor
E - Commerce Operator
Special Cases

5. Regular Dealer Form Type Frequency Due Date Details to be Furnished
Form GSTR-1
Monthly
10th of succeeding month
Furnish details of outward supplies of taxable goods and/or services affected. [Sec 32 read with Rule 1]
Form GSTR-2A
On 11th of succeeding Month will be made available
Auto-populated details of inward supplies made available to the recipient on the basis of Form GSTR-1 furnished by the supplier. [Sec 33 read with Rule 2]
Form GSTR-2
15th of succeeding month
Details of inward supplies of taxable goods and/or services for claiming input tax credit. Addition (Claims) or modification in Form GSTR-2A should be submitted in Form GSTR-2. [Sec 33 read with Rule 2]
Form GSTR-1A
20th of succeeding month will be made available
Details of outward supplies as added, corrected or deleted by the recipient  in Form GSTR-2 will be made available to supplier. [Sec 32 read with Rule 1]
Form GSTR-3
20th of succeeding month
Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of amount of tax. [Sec 34 read with Rule 3]
Form GST ITC-1 —
Communication of acceptance, discrepancy or duplication of input tax credit claim. [Sec 37 read with Rule 11 & 12]
Form GSTR-9
Annually
31st Dec of next fiscal
Annual Return – furnish the details of ITC availed and GST paid which includes local, interstate and import/exports. [Sec 39]

6. Composite Tax Payer [Sec 9]
Return Type
Frequency
Due Date
Details to be Furnished
Form GSTR-4A
Quarterly —
Details of inward supplies made available to the recipient registered under composition scheme on the basis of Form GSTR-1 furnished by the supplier. [Sec 34 read with Rule 4]
Form GSTR-4
18th of succeeding month
Furnish all outward supply of goods and services. This Form includes auto-populated details from Form GSTR-4A, tax payable and payment of tax.
Form GSTR-9A
Annual
31st Dec of next fiscal
Furnish the consolidated details of quarterly returns filed along with tax payment details. [Sec 39]
Foreign Non-Resident Taxpayer [Sec 2(68) Read with Sec 24]
Return Type
Frequency
Due Date
Details to be Furnished
Form GSTR-5
Monthly
20th of succeeding month or within 7 days after the expiry of registration whichever is earlier
Furnish details of imports, outward supplies, ITC availed, tax paid, and closing stock [Sec 34 read with Rule 5]

7. Input Service Distributor [Sec 2(54) Read with Sec 21]
Return Type
Frequency
Due Date
Details to be Furnished
Form GSTR-6A
Monthly
0n 11th  of succeeding month will be made available
Details of inward supplies made available to the ISD recipient on the basis of Form GSTR-1 furnished by the supplier. [Sec 34 read with Rule 6]
Form GSTR-6
13th of succeeding month
Furnish the details of input credit distributed
Tax Deductor [Sec 46]
Return Type
Frequency
Due Date
Details to be Furnished
Form GSTR-7
Monthly
10th of succeeding month
Furnish the details of TDS deducted [Sec 34 read with Rule 7]
Form GSTR-7A
TDS certificate to be made available for download
TDS Certificate – capture details of value on which TDS is deducted and deposit on TDS deducted into appropriate Govt.
E- Commerce Operator [Sec 56]
Return Type
Frequency
Due Date
Details to be furnished
Form GSTR-8
Monthly
10th of succeeding month
Details of supplies effected through e-commerce operator and the amount of tax collected on supplies. [Sec 34 read with Rule 8]

8. Aggregate Turnover Exceeds 1 crore
Return Type
Frequency
Due Date
Details to be furnished
Form GSTR-9B
Annually
Annual, 31st Dec of next fiscal
Reconciliation Statement – audited annual accounts and a reconciliation statement, duly certified. [Sec 39 read with Rule 21]
Final return
For taxable person whose registration has been surrendered or cancelled
Return Type
Frequency
Due Date
Details to be furnished
Form GSTR-10
Monthly
Within 3 months of cancellation of registration
Furnish details of inputs and capital goods held, tax paid and payable. [Sec 40 read with Rule 22]
Government Departments and United Nation Bodies
Return Type
Frequency
Due Date
Details to be furnished
Form GSTR-11
Monthly
28th of succeeding month
Details of inward supplies to be furnished by a person having UIN [Rule 23]
Form GSTR-3A
Notice to a registered taxable person who fails to furnish return under section 34, 39 and section 40, ie Monthly/Quarterly return, Annual Return and Final Return [ Sec 41 read with Rule 9]

9. Levy of Late Fee – Sec 42
Liable to pay late fee for Rs.100/- per day for which such default continue
Maximum is Rs.5000/-
Fails to file on or before due date
1. GSTR 1 – Outward supplies – Sec 32
2. GSTR 2 – Inward supplies – Sec 33
3. GSTR 3, GSTR 4, GSTR 5, GSTR 6, GSTR 7,
GSTR 8, GSTR 9 – Periodic Returns – Sec 34
4. GSTR 10 – Final Return – Sec 40
Maximum is 0.25% of turnover in the state
Fails to File Annual Return – Sec 39

10. Modus Operandi of Matching Input Tax Credit
Declaration of details of outward supplies in GSTR-1 of Supplier
Auto-population of details of ITC in GSTR-2A of Recipient
Verification, Validation, modification or deletion of auto-populated ITC by Recipient
Ascertainment of eligible ITC and uploading of details of GSTR-2 by Recipient
Ascertainment, Filing of Return GSTR-3 and payment of Net GST
Communication of acceptance, discrepancy or duplication of input tax credit claim through ITC - 1
Correction of statement by supplier and recipient as the case may be
Final Acceptance

11. Matching, Reversal and Reclaim of input tax credit [Sec 37] read with Rule 10, 11 & 12

12. Matching, Reversal and Reclaim of input tax credit [Sec 37] read with Rule 10, 11 & 12

13. Matching, Reversal and Reclaim of input tax credit [Sec 37] read with Rule 10, 11 & 12

14. Matching, Reversal and Reclaim of input tax credit [Sec 37] read with Rule 10, 11 & 12

15. Thank you
Padmakumar V A

16. Details to be furnished in GSTR - 1

18. Details to be furnished in GSTR - 2

20. Details in GSTR - 3