1. Standardised PPT on GST
Indirect Taxes Committee
The Institute of Chartered Accountants of India

2. Disclaimer and Copy right
This presentation has been prepared to provide a standard ‘user presentation’. The views expressed in this presentation are those of Speaker(s). The Institute of Chartered Accountants of India may not necessarily subscribe to the views expressed by the speaker(s). The information cited in this presentation has been drawn from various sources. While every efforts have been made to keep the information cited in this presentation error free, the Institute or any office do not take the responsibility for any typographical or clerical error which may have crept in while compiling the information provided in this presentation. Further, the information provided in this presentation are subject to the provisions contained under different acts and members are advised to refer to those relevant provision also. For clarifications write to us at
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This standardised PPT may be used by any person with due acknowledgement to the Indirect Taxes Committee of ICAI.
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3. Returns
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4. Returns under GST FORM PARTICULARS DUE DATE APPLICABLE FOR GSTR1*
Outward Supplies
10th of the next month
Normal Taxpayer
GSTR2*
Inward Supplies
15th of the next month
GSTR3*
Monthly return [periodic]
20th of the next month
GSTR3B*
Monthly return (Summary return)
GSTR4
Return by composition taxpayers
18th of the month next to the quarter
Composition Taxpayer
GSTR5
Return by non resident taxpayers [foreigners]
20th of the next month or within 7 days after expiry of registration, whichever is earlier
Foreign Non-Resident Taxpayer
GSTR6
Return by input service distributors [ISD]
13th of the next month
Input Service Distributor
*As per Press Release dated 4 May 2018, filing of Form GSTR 2 and GSTR 3 shall continue to remain suspended. Present system of filing Forms GSTR 1 and GSTR 3B shall continue for a period of 6 months.
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5. Returns under GST Annual Statement of TCS GSTR10 Final Return
FORM
PARTICULARS
DUE DATE
APPLICABLE FOR
GSTR7
TDS**
10th of the next month
Tax Deductor
GSTR8
TCS**
E-Commerce Operator
GSTR9
Annual return
31st December of next FY
Normal tax payer (other than ISD, casual taxpayer, foreigners)
GSTR9A
Composition Taxpayer
GSTR9B
Annual Statement of TCS
GSTR9C
Annual return along with the copy of audited annual accounts and a reconciliation statement
Normal taxpayer having turnover more than 2 crore
GSTR10
Final Return
Within 3 months of the date of cancellation or date of order of cancellation, whichever is later
Persons cancelling registration
**Provisions with respect to TDS and TCS have been put on hold.
For downloading formats of all Returns, please visit (Downloads Section-Offline tools)
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6. Returns Process Upload GSTR 1 by 10th of next month
Auto-drafted GSTR 2A based on details from GSTR 1 filed by other suppliers
File GSTR 3B (Summary return) by 20th of next month and pay total GST liability either through cash or through ITC
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7. New Return filing process
GST Council in its 27th meeting held on 4th May, 2018 approved principles for filing of new return design based on the recommendations of the Group of Ministers on IT simplification.
Key elements of the new return design are:
All taxpayers excluding exceptions like composition dealer shall file one monthly return
Due dates shall be staggered on the basis of turnover to manage load on IT system
Composition dealers and dealers having Nil transaction shall have facility to file quarterly return
Seller shall upload invoices anytime during the month and on the basis of invoices uploaded by seller, input tax credit would be automatically calculated by the system for buyer
User friendly interface and offline IT tool would be provided to upload invoices
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8. New Returns filing process
B2B dealers to fill invoice wise details of outward supply, based on which Tax shall be calculated automatically
HSN at four digit level or more to achieve uniformity in the reporting system
In case of non-payment of tax by seller, no automatic reversal of ITC from buyer. In such cases, recovery shall be made from the seller generally. In exceptional situations like missing dealer, closure of business by supplier etc., ITC of buyer can be reversed by revenue authorities
Recovery of tax or reversal of ITC shall be through online and automated process of issuing notice and order
Unloading of invoices by the seller who has defaulted in payment of tax above a threshold amount shall be blocked to control misuse of ITC
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9. New Returns filing process
Transition – from existing system to new system
Stage I – for a period not exceeding 6 months
Present system of filing of return GSTR 3B and GSTR 1 shall continue
Filing of GSTR 2 and GSTR 3 shall continue to remain suspended
Stage II – 6 months
Facility for invoice-wise data upload and claiming ITC on self declaration basis, as in case of GSTR 3B now
Recipients to be constantly given information about gap between ITC available as per invoices uploaded by sellers and the provisional credit being claimed by them
Stage III
The facility of provisional credit will get withdrawn and
ITC will only be limited to the invoices uploaded by the sellers
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10. Critical points – GSTR – 1 and GSTR – 6
For taxpayers whose turnover is not exceeding INR 1.5 crores, GSTR 1 for the quarter April to June, 2018 shall be filed till 31st July, 2018 (Notification No. 17/2018-CT dated 28th March, 2018
Due date for filing GSTR 6 i.e. returns to be filed by ISD (input service distributors) from July, 2017 to June, 2018 is 31st July, 2018 (Notification No. 25/2018-CT dated 31st May, 2018)
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11. GST Returns – Important Points
Presently, every registered person needs to furnish atleast GSTR1 and GSTR3B return/statement/s
Return/statement/s can be prepared through online or offline mode
Return/statement/s to be filed even if there is no business activity during the relevant period i.e. nil statement/return/s
Error or omission may be rectified in subsequent return/statement/s but revision of return/statement/s is not allowed
In GSTR 1
B2B transactions to be reported on invoice level – GSTIN, invoice no., invoice date, invoice value, rate of tax, taxable value, amount of tax and place of supply
B2C transactions to be reported invoice wise only for inter-state transactions having invoice value above INR 2.5 lacs
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12. GST Returns – Important Points
HSN codes to be reported for Goods and Services
Separate Tables for Debit / Credit Notes / Input Service Distributor Credit / TDS etc.
Common e-Return for CGST, SGST/ UTGST and IGST
Shall not be allowed to furnish a return/statement/s for a tax period if the return/statement/s for any of the previous tax period has not been furnished by him
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13. GSTR – 1 : Furnishing details of outward supplies – Sec 37
This return form includes:
A.)Invoice details of all outward supply of goods or services or both
Registered Person
All inter / Intra State
Unregistered person
Inter state Supply > Rs 2.5 lacs
B.)Consolidated details of all-
Intra state supplies for each rate of tax
State wise inter state supplies < Rs 2.5 Lacs for each rate of tax
C) Debit and credit notes

14. GSTR – 1 : Furnishing details of outward supplies – Sec 37
This return form includes:
D) Zero rated supplies and deemed exports
Zero rated supplies, deemed exports
E) Tax Liability on advances received
Tax liability arising on account of receipt of consideration for which invoices have not been issued
F) Advance adjustments
Adjustment of tax liability for tax already paid on advance receipt of consideration
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15. GSTR – 1 : Furnishing details of outward supplies – Sec 37
This return form includes:
G) Nil rated, exempted and Non GST supplies
Supplies on which rate of tax in NIL or exempt sullies or transactions which are out of the purview of GST
H) HSN Summary
HSN wise summary of goods/ services supplied during the period
I) List of documents issued
Details of various documents issued by the tax payer such as- invoice, debit/ credit notes, receipt voucher, payment voucher, refund voucher, delivery challan for job work, etc.
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16. Changes due to GST in day to day business
Invoice Information In Return:
A.) In case of Intra State Supply:
Mr. A carried out following transactions during tax period-
Sl No
Buyer
Registered or not
Invoice value
Rate of tax 1 B
YES
1,000 5% 2 C NO
25,000 3 D
5,000 4 E
15,000
12% 5 H
3,00,000

17. Treatment In Return Seller Registration Status Value of invoice
Invoice no.
Value
Tax B
Registered
1000
Then invoice wise details of each invoice irrespective of invoice amount
Yes C
Unregistered
25000
Consolidated details of Each rate of tax-5%
Rs. 30,000 D
5000 E
15000
Consolidate details of rate of tax of 12%
Rs. 3,15,000 F
300000

18. Invoice Information In Return
B.) In case of Inter State Supply-
Mr. A carried out following transactions during tax period:
Sl No
Buyer
Registered or not
State
Invoice value
Rate of tax 1
Raj
Yes
Maharashtra
1,000 5% 2
Kamal No
Gujarat
1,50,000
12% 3
Hirabai
50,000 4
Modi 5
Josef
Goa
3,50,000

19. Treatment In Return Seller Registration Status Value of invoice
Invoice no.
Value
Tax
Raj
Registered
1,000
Then invoice wise details of each invoice irrespective of invoice amount
Yes
Kamal
Unregistered
1,50,000
Consolidated details of Each rate of tax-12% for each state
Rs 1,50,000
Hirabai
50,000
Consolidate details of rate of tax of 5% for each state i.e Gujarat
Modi
2,00,000
Josef
3,50,000
As value is more than 2.5 lacs , individual details of invoice
yes

20. GSTR – 3B : Summary monthly return
Who is required to file GSTR 3B?
Registered person other than non resident taxable person, ISD and composition person
When is it required to be filed?
20th of the following month
Following consolidated details to be filled up:
All types inward and outward supplies of goods/services
Value of exempt, nil rated, non-GST supplies
ITC available, ITC reversed and ineligible ITC
Tax payable
Tax paid
Interest and
Late fee, if any
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21. First, Annual and Final Return
First Return
(Sec 40)
Every registered person, who has made outward supplies, between the date of liability to register till the end of the month* when registration is granted, has to file his first return after grant of registration
*Up to the quarter in case of composition levy
Final Return
(Sec 45)
Every registered person whose registration has been cancelled shall furnish a final return within 3 months of date of cancellation or date of order of cancellation, whichever is later, in Form GSTR 10
Annual Return
(Sec 44)
Every registered person to furnish annual return by 31st December of next financial year in Form GSTR 9 except:
ISD
Casual taxable person
Non-resident taxable person
Person paying TCS/TDS
Every registered person who is required to get his accounts audited shall furnish annual return along with the copy of audited annual accounts and a reconciliation statement, duly certified in Form GSTR 9C. Composition tax payers to submit GSTR – 9A
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22. GST Return – Important Points
RECTIFICATION (Sec 39) allowed till due date for furnishing return of September or second quarter of next year or date of filing annual return, whichever is earlier
NON FILING Cancellation of registration for non filing of returns for 3 consecutive tax periods for composition dealer or 6 months continuously for other taxable persons
LATE FEES-NON FILING OF GSTR 3B (Sec 47) Late Fees: INR 50 per day subject to a maximum of INR 10,000
Late fees for nil return – INR 20 per day subject to a maximum of INR 10,000
LATE FEES – NON FILING OF ANNUAL RETURN GSTR 9 (Sec 47)
Late Fee - Annual Return INR 100 per day subject to a maximum of 0.25 % of the turnover of the State or Union Territory
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23. Goods and Service Tax Practitioners – Sec 48
Can authorize authorized GST practitioner to furnish GSTR 1, GSTR 2 and 3 (If becomes operative), GSTR 3B, GSTR 9 and GSTR 10
Responsibility for correctness of particulars lies with Registered person
Registered Person
GST practitioner
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24. Goods and Service Tax Practitioners – Sec 48
Eligibility
a citizen of India;
a person of sound mind;
not adjudicated as insolvent;
has not been convicted by a competent court
Satisfies any of the following conditions
he is a retired officer of the Commercial Tax Department of any State Government or of the CBEC, DoR, GoI, who had worked in a post not lower than the rank of a Group-B gazetted officer for a period of not less than 2 years; or
he has enrolled as a STP or TRP under the erstwhile laws for a period of not less than 5 years (Such GST Practitioner shall pass examination within 18 months from 1st July, 2017; or
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25. Goods and Service Tax Practitioners – Sec 48
He has passed,
a graduate or postgraduate degree or its equivalent exam having a degree in Commerce, Law, Banking including Higher Auditing, or Business Administration or Business Management from any Indian University established by any law for the time being in force; or
a degree examination of any Foreign University recognised by any Indian University as equivalent to the degree examination mentioned above; or
any other examination notified by the Government, on the recommendation of the Council, for this purpose; or
has passed any of the final examinations of the ICAI/ ICSI/ ICWAI
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26. Goods and Service Tax Practitioners – Sec 48
Authorised officer, shall, after making enquiry
either enrol as GST practitioner and issue a certificate or
Reject the application
GST practitioner may have to pass examination at regular intervals, if so notified
Enrolment shall be valid until cancelled
Duties
prepare the statements with due diligence; and
affix his digital signature on the statements prepared by him or electronically verify using his credentials
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27. Thank You For any Clarification, Please Contact
Indirect Taxes Committee of ICAI
Website:
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