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Category: GST

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Exploring the Concept of Place of Supply in GST

One of the biggest concepts in the Goods and Services Tax (GST) regime in…

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One of the biggest concepts in the Goods and Services Tax (GST) regime in India is known as ‘place of supply’. It defines the area in which a certain source of goods or services is perceived to happen.

This is important for tax purposes as it will establish if a supply is made in the course of interstate or intrastate trade, this will obviously determine if the correct GST to be levied is the CGST and SGST or the IGST. It is imperative for the businesses to grasp about the place of supply in order to meet the GST requirements and not to fall under any misconceptions or risk.

Under the GST regime, the place of supply is not just where goods or services are supplied or consumed; it is a set of rules that defines when and how the place of supply should be determined. The rules vary with the nature of the supply where it is made of goods or services since the place of supply is determined differently.

Determining the place of supply for goods

For goods the place of supply normally is the place where the ownership is transferred or the goods are delivered. This is usually easy to understand especially when the goods are in transit from one area to another area.

Here are a few scenarios that highlight how the place of supply for goods is determined

1. When goods are moved

The place of supply is the location where goods are delivered where goods are moved from one place to another. Let’s consider that a supplier from Maharashtra is selling products to a buyer from Gujarat and the products are delivered to the buyer in Gujarat; then the place of supply is Gujarat. Therefore, IGST will be levied as this is an interstate supply.

2. When goods are not moved

Where goods are not relocated, for instance where goods are sold at a store or outlet and not transferred, then the place of supply is the place where the goods are at the time they are delivered to the recipient.
For example, if a customer purchases a sofa set from a shop in Mumbai, and the customer takes the sofa set to his or her home in Mumbai, the supply takes place in the state of Maharashtra and therefore both the Central Goods and Services Tax (CGST) and the State Goods and Services Tax (SGST) will apply as it is an intrastate supply.

3. Delivery to a third party

On certain occasions, the goods are delivered at the instance of the buyer to a third party. Here the place of supply is the location of the third party who received the goods. For instance, a company in Delhi buys goods and asks the supplier to ship them to a client in Haryana; in that case, the place of supply is Haryana and IGST will be charged.

Determining the place of supply for services

The rules for determining the place of supply for services are quite different than those for goods because services are intangible and can be performed in many different locations. In determining the place of supply for services, the law differentiates between a transaction between two parties within the same state and between two parties in two different states.

Here are some of the primary rules

1. Location of the service receiver

Normally, where the recipient of the service is registered under GST, then the place of supply shall be the location of the recipient. For instance, if a consultant from Karnataka offers services to a client in Tamil Nadu, and the client is registered under GST in Tamil Nadu, the place of supply will be Tamil Nadu that is where IGST will be charged.

2. Location of the service provider

Where the service recipient is not registered under the GST, the place of supply is at the place where the supplier is located. For instance, if a freelance designer based in Punjab is working for an unregistered person based in Kerala then the place of supply would be Punjab and CGST and SGST would apply.

3. Specific services with unique rules

Some services have certain rules that define the place of supply. For example, the place of supply for services relating to immovable property, including construction is where the property is situated.
In the case of events like concerts or conferences the place of supply is deemed to be the location of the event. Transportation services also have their special conditions of service delivery, which may depend on the origin of travel.

Importance of understanding the place of supply in GST

For businesses, correctly determining the place of supply is vital to ensure proper GST compliance. Misidentifying the place of supply can lead to incorrect tax filings, potential penalties, and even legal issues. By understanding where a transaction is considered to take place under GST, businesses can ensure they are charging the correct type of tax—CGST, SGST, or IGST—depending on whether the transaction is intrastate or interstate.

Additionally, the place of supply rules can impact pricing and decision-making, especially for businesses that operate across multiple states. Knowing how GST applies to various types of transactions helps businesses to streamline their operations and avoid unnecessary tax complications.

In conclusion

Mastering the place of supply rules is not just a regulatory requirement but a strategic necessity for businesses under the GST regime. It helps to streamline tax processes, maintain compliance, and avoid costly mistakes.

If you’re looking to deepen your understanding of GST concepts like the place of supply, consider enrolling in a comprehensive GST certification course online. Super 20 Training Institute offers an industry-recognized course that covers all aspects of GST, including detailed modules in place of supply rules, GST registration, filing returns, and more.

With expert instructors and practical learning, you’ll gain the skills needed to navigate GST with confidence and precision. Join Super 20 Training Institute and take the next step in your GST education journey today!

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All You Need to Know About GST Common Portal

The Goods and Services Tax (GST) is a comprehensive indirect tax levied on the…

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The Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India. This article will take a closer look at the GST Common Portal, and the GST return training in Ahmedabad.

Good and Services Tax(GST) is a comprehensive tax system implemented in India, aimed at subsuming various indirect taxes and streamlining the tax system. The implementation of GST has significantly changed how businesses operate, making it crucial for individuals to understand and abide by the GST laws. In this context, GST return training in Ahmedabad has become increasingly essential to assist taxpayers in complying with the GST regime. The GST Common Portal is a one-stop platform for businesses to file their GST returns and make other related submissions.

SERVICES OFFERED BY GSTIN

The Goods and Services Tax(GST) is a comprehensive indirect tax system introduced in India in 2017. To simplify compliance, the Government has made a single portal for GST, which offers a range of services to taxpayers. The primary services provided by the GST Common Portal include :-

1. Registrations

The portal provides a seamless process for a business to register for GST and obtain a GSTIN (GST Identification Number). This registration is mandatory for all companies with an annual turnover of more than 20 lakhs. Taxpayers can also track the status of their applications and make necessary changes to their registrations through the user-friendly interface. It streamlines the GST registration process, making it easier for taxpayers to comply with the GST regime.

2. Payments

The GST Common Portal also offers a convenient platform for taxpayers to make their GST payments.
Taxpayers can choose from various payment options, including online banking, credit card, and debit card. This service, therefore, ensures security and eliminates the need for taxpayers to visit tax offices physically.

3. User Services

The portal also provides user services, such as filing GST returns or anything that helps taxpayers to manage their GST obligations. The returns can be filed online, saving taxpayers time and effort and ensuring that the taxpayers can track their submissions. An efficient and less time-consuming mechanism indeed.

4. Refunds

Besides the registrations and payments, the GST common portal provides a convenient platform for taxpayers to claim their refund. Taxpayers can apply for a refund through the portal, which will be processed promptly. The portal also offers a secure and efficient mechanism for taxpayers to claim their refunds, reducing the time and effort required to obtain their refunds.

For those who require assistance filing GST returns or managing GST registrations, GST return training is available in Ahmedabad. These services provide taxpayers with the knowledge and skills to comply with the GST regime effectively. Experienced professionals who are well-versed in the intricacies of the GST system conduct these pieces of training.

5. Application for GST Practitioner

A GST Practitioner is an individual authorized to act on behalf of a taxpayer in their dealings with the GST department. GSTN provides a platform for taxpayers to apply for a GST Practitioner, making it easier for them to manage their GST obligations. Taxpayers can use the portal to apply for a GST Practitioner, and the process is straightforward. Once the application is submitted, GSTN will process the application and notify the taxpayer of the outcome.

6. Opting out of the Composition Scheme

The Composition Scheme is a scheme under GST that allows small taxpayers to pay tax at a reduced rate. Taxpayers eligible for the Composition Scheme can pay tax at a reduced rate instead of paying tax at the standard rate. However, taxpayers who opt for the Composition Scheme must comply with certain conditions. GSTN provides a platform for taxpayers to opt out of the Composition Scheme if they no longer wish to abide by the states. Taxpayers can use the portal to opt out of the Composition Scheme, and the process is straightforward.

7. Transition Forms (TRAN 1, TRAN 2, TRAN 3)

The transition to the GST regime significantly changed how taxes were collected and processed. To assist taxpayers in making this transition, GSTN provided a range of Transition Forms (TRAN 1, TRAN 2, and TRAN 3) that allowed taxpayers to claim credit for taxes paid under the previous regime. These forms are essential for taxpayers who wish to claim credit for taxes paid under the previous administration and should be filed within a specified time frame. GSTN provides a platform for taxpayers to file these forms, and the process is simple.

8. Viewing E-Ledgers

E-Ledgers are electronic records that GSTN maintains for each taxpayer. These ledgers provide a detailed description of all the transactions made by a taxpayer under GST. GSTN delivers a platform for taxpayers to view their E-Ledgers, making tracking their GST obligations easier. Taxpayers can use the portal to view their E-Ledgers, and the process is straightforward. This facility allows taxpayers to stay up-to-date on their GST obligations and to ensure that they comply with the law.

In conclusion

The GST Common Portal is an essential platform for registered GST taxpayers in India. With a range of services and facilities, the portal makes it easier for taxpayers to manage their GST obligations—a one-stop solution for all GST-related matters.

The GST common portal is a step towards a more transparent and efficient tax system in India. By providing a platform that simplifies the process of filing returns and making payments, GSTN has made it easier for taxpayers to comply with their tax obligations. Taxpayers who need to become more familiar with the process of filing returns can take advantage of the GST return training in Ahmedabad to gain a better understanding of the tax and the filing process.

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GST Compliances for Composition Scheme Dealers

GST Composition Scheme provides relief to small businesses in the form of lower rates…

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GST Composition Scheme provides relief to small businesses in the form of lower rates and lesser compliances. By opting for this scheme, a business can pay GST at a fixed rate, without claiming input tax credit. You can learn more nitty-gritties regarding applicability/eligibility and benefits of this scheme by taking GST classes in Ahmedabad at Super 20 Training Institute (s20.in). Meanwhile, the article here lists down the compliances to be undertaken, should you or your client opt for this composition scheme.

Typical compliances for an indirect tax scheme involve:

In the context of GST composition scheme, these compliances are explained as under:

A. Opt for the scheme
For traders and manufacturer : If turnover is upto Rs. 1.50 Crores p.a.
For Service sector : If turnover is upto Rs. 50 Lacs p.a.
then only a person can opt for composition scheme as the scheme is to benefit small businessmen.

Where a registered dealer desires to opt for composition scheme, typically he is required to do so before or at the beginning of the year, by filing Form GST CMP-02. Where the scheme is opted for in the middle of the year, it becomes applicable from the month following the month in which the form is filed.

Persons applying for fresh registration under GST and opting for composition scheme, may do so by filing Form GST REG-01.

Once a dealer has opted for the scheme, there are two more statements to be filed:

  • Form GST CMP-03 – This statement provides information regarding stock and inward supplies held on the day of opting for the scheme. 
  • Form GST ITC-03 – This statement is required to be filed in order to reverse any input tax credit already claimed on stock of inputs / capital goods before opting for this scheme.

If all these forms and compliances seem daunting, attend GST classes in Ahmedabad to get complete clarity and sort out any queries you may have. 

B. maintaining detailed records
The main purpose of the scheme is to provide relief to taxpayers from comprehensive maintaining of records and compliances. Therefore, unlike regular dealers, dealers registered under the composition scheme are NOT required to maintain detailed records. Further, they are NOT required to collect taxes either, as the taxes are paid at a fixed rate out of own pocket. However, the following to-do’s should be borne in mind:

  • The dealer must issue a Bill of Supply, and NOT a tax invoice.
  • All bills of supplies must state ‘composition taxable person, not eligible to collect tax on supplies’.
  • All hoardings outside the office / at other prominent places must clearly state ‘Composition taxable person’. 
  • Composition delaer can not make any interstate sales.

C. Calculating and payment of taxes
A dealer under the composition scheme should collectcollate the following details of:

  • outward supplies on which tax is payable
  • inward supplies on which tax is payable on reverse charge

Thereafter, compute tax liability by using fixed (reduced) rates as applicable, and split tax liability equally among the CGST and SGST components. Further, credit of input tax cannot be claimed by a GST composite dealer. Add interest payable (if any).The afore-said details would need to be filled in Form GST CMP-08. Form CMP-08 is a statement-cum-challan required to be filed on a quarterly basis. It summarizes the tax liability of the dealer alongwith other relevant details sought by the government. Due date for payment of taxes as well as filing of this statement is 18th of the month following the quarter for which taxes are being paid.

D. Filing of returns – Quarterly and annual
The quarterly statement in Form CMP-08 mentioned above serves as quarterly return as well (it replaces erstwhile quarterly Form GSTR 4).

An annual return also needs to be filed by a GST composite dealer by 30th April following the relevant financial year.

Law prescribes penalties where there is delay in filing of the returns mentioned above. Super 20 Training Institute offers excellent GST return training in Ahmedabad so that you can ensure that the return filing process for you and/or your clients is smooth and hassle-free.

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Classroom Courses for Practical Knowledge and Training on GST

It’s been a while now that GST became applicable. A lot has been discussed…

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Training-for-GST

It’s been a while now that GST became applicable. A lot has been discussed before and after its introduction. The provisions have been explained and thrashed out at various forums, and many teething issues have also been identified. Moreover, some of these issues have even been resolved by the Government from time to time.

Having said that, no one can deny the novelty as well as the vastness of the subject. While concepts may seem similar to VAT and service tax, there are so many new provisions as well. Further, there are various aspects to the law like applicability, rate, input credit, compliances etc. and each aspect has its own nuances. Gathering a good understanding is important for all professionals, whether you are advising your own company or your client’s.

Why take a GST training?
As is in all cases, the Internet definitely comes in very handy to get a quick overview on the basic provisions. Some blogs may help you identify certain problem areas as well. But as they say, nothing beats classroom training.

A proper training on GST would not only answer your WHATs, but also WHYs. A classroom training would start from the basics including history and genesis of the legislation, it’s structure, and what the law says. And most importantly, the reason why a provision in law says what it says. Also, formal training helps you understand the practicalities, all at one place. The Internet might tell you the deadline for filing GST return, but only a good training institute would tell you the issues that you would face while filing the returns and how to deal with it. What’s best is that you don’t need to spend your precious time on reading and comprehending various sources on the internet. You don’t have to waste time trying to summarize them – and not to forget – getting confused with divergent views / thoughts that people may have. Instead, training on GST could help you get a good grip on the subject without wasting any time, as the experts would have already done their research.

What to Expect From a GST Training?

1) Practical, Practical, Practical Knowledge!
No one needs to know the section number or exact wording. ‘Bookish knowledge’ is not what you would want. It’s the practical GST training classes that is required so as to be able to apply it in your everyday work. Now in doing so, if you need to know some history, that would be fine!

2) Going Beyond The GST Law
Yes, a good GST training may also integrate some accounting and related aspects to it. Though, it may not be completely possible sometimes, and you may have to subscribe to a related accounting course. The point is that you should aim to get a good grip of the law and how it merges with other facets relevant in an organization.

While the Internet is a good source, it is not the answer when you are looking for a structured, thoroughly researched learning on GST. Subscribe to centres like Super 20 Training Institute for its very educative, practical GST training courses.

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Components of GST: CGST, SGST and IGST

In India, the Constitution provides rights to both Centre and the States to levy…

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GST - Goods & Service Tax

In India, the Constitution provides rights to both Centre and the States to levy and collect taxes. GST has been introduced as a substitute for old levies – central levy of customs, excise and service tax and state levy of VAT. It is therefore only fair that states should also have a share in GST collections, and that the entire levy should not go to the Centre’s kitty. It was in fact for this reason that the law could not be implemented earlier for a long time until the Centre and all States reached a consensus.

However, now that the law is applicable, it is levied by both Center and States simultaneously. This is in sharp contrast to the erstwhile regime, considering that the taxes were levied separately and in fact had cascading effect. GST is applicable based on place of supply and nature of supply. Detailed principles can be studied at some good GST classes. Meanwhile, if one were to put it in simple terms, it is applicable in the following manner:

  1. When it is an intra-state supply – CGST and SGSTWhen goods/ services are supplied within the same state, Central GST and State GST are levied. Seller must collect both from the buyer and as the name suggests, CGST is deposited with the Central Government, while SGST is deposited with the State Government. Both these components are governed by separate legislations – Central Goods and Services Tax Act, 2017 and separate SGST Acts of various states.As for Input Tax Credit, it can be availed against the output liabilities as under:
    1. CGST liability can be paid using:

      1. first, input tax credit under CGST
      2. then, input tax credit under IGST
    2. Similarly, SGST liability can be paid using:
      1. first, input tax credit under CGST
      2. then, input tax credit under IGST

     

  2. When it is an inter-state supply – IGST

When the goods/ services are sold from one state to another, Integrated GST is levied. It is to be deposited with the Central Government. It may be mentioned here that the governments do apportion amongst themselves (Centre and states), however that is not relevant from the seller’s perspective who has to pay it to the Central Government. 

The afore-said rules apply to imports and exports too, and even where the supply is from or to an SEZ unit. 

IGST is levied under Integrated Goods and Services Tax Act, 2017.

Input Tax Credit can be availed against output IGST liability. The order to be applied for paying IGST liability is:

  1. First, utilize input tax credit under IGST 
  2. Then, utilize that under CGST 
  3. Then, utilize credit under SGST 

Hope the above provides a good overview of the basics. For deeper understanding of the concepts with examples, you could subscribe to GST course at Super 20 Training Institute in Ahmedabad.

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What is Reverse Charge Mechanism under GST?

GST is an indirect tax, whereby seller recovers tax on goods / services supplied…

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GST is an indirect tax, whereby seller recovers tax on goods / services supplied to the buyer, and then
deposits the tax so recovered to the Government of India. While this is the primary way tax is collected
and paid, there is an exception to this mode, namely reverse charge mechanism.

Under reverse charge mechanism, the buyer of goods / services is required to deposit GST directly to the
tax authorities, and the seller need not collect the tax, nor undertake any related compliances.

These principles can be understood in detail when you join GST classes at Super 20 Training Institute.
However, a brief is provided below to get you started.

History and Genesis

Following the normal process (also referred to as the forward charge) may still leave some
transactions untaxed. In a country as vast as India, with unorganized businesses, reverse charge acts
as an effective mechanism to plug the loopholes and implement the law.

Reverse charge mechanism existed in the pre-GST era as well, i.e. in the service tax regime.

Applicability

Liability to pay tax on the buyer / recipient of goods and services arises under the reverse charge
mechanism under the following scenarios:

(i) Based on nature of goods / services supplied, or nature of supplier
Some examples are:
– supply of a service by a non-resident to any person in India
– supply of legal services by an advocate to any business in India
– supply of services by a director of a company to the company in India

(ii) Where a taxable supply is made by an unregistered dealer to a registered dealer [applicability
deferred to 30 September 2019]

When a registered dealer procures a taxable good or service from an unregistered dealer, the
liability to pay GST shifts to him under reverse charge mechanism and he is required to pay GST,
instead of the unregistered supplier. The exception to these cases is when the total procurements
by the registered dealer in a day do not exceed Rs 5,000 (whether from one or all unregistered
suppliers).

The above list is only indicative and not exhaustive. You could learn more at Super 20’s GST classes.

Further, where reverse charge mechanism is applicable, GST would need to be deposited on any
advances paid to the supplier too.

Compliances required / Other aspects

A recipient required to pay GST under reverse charge mechanism must obtain GST registration and
undertake all compliances like any other registered dealer.

GST under reverse charge mechanism needs to be paid in cash, and input tax credit cannot be used to
pay the same. However, once paid, input tax credit can be claimed against GST so paid. The exception to this is the case of a GST composition dealer who is generally not allowed to claim input tax credit,
and therefore cannot claim credit of taxes paid under reverse charge mechanism either. Further,
when a composition dealer has to pay GST under reverse charge mechanism, he must pay at full rates
(and not at lower rates applicable to him).

One more important aspect is the Time of Supply – the point when GST is payable. This differs under
reverse charge mechanism from the usual principles under forward charge.

Of course, there are many more technicalities to these provisions. If you have any queries, do reach out
to us and we could guide you further with the right set of GST training that you should opt for,
considering your background, experience and future plans. Super 20 Training Institute offers the best
tax course and would be just the right choice for this purpose.

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Accounting with GST – Purchase

Despite people taking accounting courses in Ahmedabad, Tally courses in Ahmedabad, GST courses in…

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accounting-GST

Despite people taking accounting courses in Ahmedabad, Tally courses in Ahmedabad, GST courses in Ahmedabad, at times, we find due to clerical errors and lack of due diligence Accountants in Ahmedabad cause loss to their clients.

Hence, in our series of articles explaining accounting with GST today we will discuss purchase accounting with GST.

When we make purchase, we actually pay GST to the vendor/creditor. Under GST mechanism, we will then get credit of GST paid to the vendor. So it is very important for us to do this section very carefully.

Let us take a practical case to get accounting training / GST training in this matter.

Rittal Enterprise in Ahmedabad is a textile trading firm based at Ahmedabad. They purchase readymade shirts from Vittal Enterprise in Ahmedabad, a shirts manufacturer based at Ahmedabad.

Suppose Rittal Ahmedabad have purchased 1,000 nos. of shirts @ Rs. 500/- from Vittal Ahmedabad. Hence, total purchase value is Rs. 5,00,000/-

Now from the lookup of our GST training, we got to know that GST @ 5% is applicable on these kinds of products. Since the purchase is within state CGST @ 2.5% and SGST @ 2.5% will be applicable on this transaction. Since this is a purchase transaction these will be input GST. Input CGST Rs. 12,500/- and Input SGST Rs. 12,500/- will be paid to the vendor.

Now let us understand accounting effect in the books of Rittal Enterprise Ahmedabad:

Purchase of trading goods will always debited in the books of accounts. So, Purchase A/c Dr. Rs. 5,00,000/-. Input CGST and SGST are credits receivable hence they are debited in the books of accounts by Rs. 12,500/- each. The goods are purchased on credit hence Rittal Enterprise Ahmedabad is yet to pay to Vittal Enterprise Ahmedabad. So, Vittal Enterprise Ahmedabad is a creditor and their account need to be credited. So, final entry will look like as below:

Purchase A/c Dr.   Rs. 5,25,000/-
Input CGST Dr.      Rs. 12,500/-
Input SGST Dr.      Rs. 12,500/-
To Vittal Ent. Cr.    Rs. 5,25,000/-

Though this article has its own limitations, you can contact us for various accounting courses, GST courses, tally courses, wherein we try to cover such topics from a very practical perspective based on actual case studies. Super 20 Training Institute is proud to serve students in capacity of the best accounting training institute in Ahmedabad.

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New Batch Starting for Accounting Courses – Register now !

– Register now. New Morning EC Batch starting from June 5, 2018 timing 8…

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– Register now. New Morning EC Batch starting from June 5, 2018 timing 8 am to 10 am (Ideal for Tally Course, Accounting Course, Job-oriented Course). For more details visit / call S20.

– Get early bird discount by making advanced booking for new Adv. EC Batch starting from July 15, 2018 timing 8 am to 10 am (Ideal for Advanced Accounting Course, Taxation Course, Advanced Taxation Course, Tax Consultant Course). For more details visit / call S20.

– Hurry up. New Noon EC Batch starting from June 15, 2018 timing 1:30 pm to 3:30 pm (Ideal for Accounting Training, Tally Training, Job-oriented Training).

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Creation and Submission of GSTR- 3B | GST Part-V

This is a Part-V of our ongoing GST series of articles. Today we will…

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This is a Part-V of our ongoing GST series of articles. Today we will discuss about GSTR-3B in this article. Though we have an institute which specializes in GST Training, Taxation Training, we believe that the same knowledge should be shared to common public though they are not part of our GST Course or Taxation Course. Ok let us discuss about GSTR-3B.

GSTR-3B is a simplified summary return and the purpose of the return is for taxpayers to declare their summary GST liabilities for the tax period and the discharge of these liabilities in a timely manner

A normal taxpayer is required to file GSTR-1, 2, & 3 returns for every tax period. In case of extension of due dates for filing of GSTR-1 and GSTR-2, GSTR-3B needs to be filed and subsequently if there is any discrepancy between the system generated 3B and earlier filed 3B the taxpayer will have to pay additional tax, liability and other dues. Looks simple huh…? Actually my accountants / professionals find it very difficult to prepare this due to lack of their GST Training and Taxation Training. Hence, they join various GST Courses or Taxation Courses. Hence, as the best GST Training Institute in Ahmedabad and the best Taxation Training Institute in Ahmedabad, we feel that it is our social responsibility to spread such articles among general public for their benefit.

Who needs to file the GSTR-3B?
All normal taxpayers and casual taxpayers are required to file the GSTR-3B every time there is an extension of due dates of filing for GSTR-1 and GSTR-2. At present as per 27th GST Council meeting, GSTR-3B is to be filled till 30th September, 2018.

Where can I file GSTR-3B?
GSTR-3B can be filed from the returns section of the GST Portal. In the post-login mode, you can access it by going to Services > Returns > Returns Dashboard. After selecting the financial year and tax period, GSTR-3B, (if applicable), in the given period will be displayed.

What is the due date for filing the GSTR-3B?
GSTR-3B is to be filed on 20th day from the end of the month for which return is to be filed.

Details in Section – 3.1 Tax on outward and reverse charge inward supplies
Enter the Total Taxable value, Integrated Tax, Central Tax, State/UT Tax and Cess under respective nature of supplies column. In case of other outward supplies (Nil Rated, exempted) and Non-GST outward supplies, the total taxable value imply the total values of such supplies, excluding taxes. In certain cases reverse charge is also applicable. The same is to be filled under reverse charge inward supplies row of section 3.1.

Details in Section – 3.2 Inter-state supplies
In the section Supplies made to Unregistered Persons or Registered persons or composition scheme holder as applicable following information is to be filled.

– From the Place of Supply (State/UT) drop-down list, select the place of supply.

– In the Total Taxable Value field, enter the total taxable value for each State/UT.

– In the Amount of Integrated Tax field, enter the amount of integrated tax. Please ensure that the integrated tax amount provided here does not exceed the integrated tax liability declared. Only integrated tax amount has to be declared, cess amount is not required to be mentioned.

Details in Section – 4. Eligible ITC
Eligible ITC tile in GSTR-3B will reflect the total value of Integrated Tax, Central Tax, State/UT Tax and Cess net ITCs. There are various types of ITC available for the eligible inputs. Normal ITC on purchase of goods is to be filled up in row no. 5 all other ITC.

Details in Section – 5. Exempt, Nil and Non GST inward supplies
Exempt, Nil and Non GST inward supplies tile in GSTR-3B will reflect the total value of Inter-state and Intra-state supplies.

Details in Section – 5.1 Interest and Late Fee

Interest and Late Fee tile in GSTR-3B total value of Integrated Tax, Central Tax, State/UT Tax and Cess.

Note: Late fee for the month includes previous month’s late fee charged due to delay in filing of return. The calculation is [Date of Filing –Due date of Filing)] * 25/day * per Act (CGST/SGST). Late of late fee is Rs. 10/- if no liability accrues during the month. The late filing fees are auto populated and need not to be calculated manually.

File GSTR-3B
From the Authorised Signatory drop-down list, select the authorized signatory then we can file GSTR-3B either by EVC or by digital signature of the signatory.

So guys, next time whenever you have any doubts in this regard, feel free to contact us. We are into Tally Training, Accounting Training, Taxation Training, GST Training. Our Institute is located at Ashram Road, Ahmedabad. We do have Taxation Courses, Tally Courses, Accounting Courses, GST Courses in Ahmedabad for various aspirants.

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Creation and Submission of GSTR-1– GST Part-IV

In today’s blog we will discuss how to file GSTR-1. GSTR-1 (Goods and Service…

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In today’s blog we will discuss how to file GSTR-1.

GSTR-1 (Goods and Service Tax Return – 1) (Outward Supply Return)

Basically, in GSTR-1, the dealer is required to give details regarding sales of the company. The details have to be filled in different sections of the returns.

1. B2B Invoices: In this section, the dealer has to give details regarding sales made to a person having valid GSTN. Details such as GSTN, Invoice No, Invoice Date, Total Invoice Value and Rate wise taxable value as well as tax amount are to be provided.

2. B2C Large Invoices: In this section, Details of inter-state supplies (i.e., Sales made outside the state) of goods to consumers where invoice value is more than 2.5 lacs are to be provided. Here also, Details such as POS, Invoice No, Invoice Date, Total Invoice Value and Rate wise taxable value as well as tax amount are provided.

3. Credit / Debit Note (Registered): Generally Debit note or credit notes are issued in case of purchase return or sales return. If any debit note or credit note is issued to a registered dealer then we have to give details of the same in this section. Details such as GSTN, Debit or Credit note No, Debit or Credit note Date, Original Invoice number and Original Invoice Date, Note Value, Type of Note, Reason for issuing Note and Rate wise taxable value as well as tax amount are to be provided.

4. Credit / Debit Note (Unregistered): If any debit note or credit note is issued to a registered dealer then we have to give details of the same in this section. Details such as Debit or Credit note No, Debit or Credit note Date, Original Invoice number and Original Invoice Date, Note Value, Type of Note, Reason for issuing Note and Rate wise taxable value as well as tax amount are to be provided.

5. Export Invoice: In this section, we are required to give details of sales made outside India. Details such as Invoice Date, Port Code, Shipping Bill No., Shipping Bill Date, Total Invoice value, whether GST is paid or not and Rate wise taxable value are to be provided.

6. B2C Others: Details of Taxable Sales not mentioned anywhere above are required to be given in this section. Details such as POS, Taxable value, Rate and GSTN of E-commerce operator if sales is made through e-commerce operator are to be provided.

7. Nil rated suppliers: Exempted or nil rated sales are required to be filled here. The dealer is required to give details such as inter-state supplies to registered and unregistered dealer and intra-state supplies to registered and unregistered dealer.

8. Advance received: If any advances for sale of goods are received but sale is not executed, such details are required to pay GST on advances received. Details of the same are to be given in this section such as POS and Rate wise advances received.

9. Adjustment of advance received: If we have paid taxes on the advances received and in the current tax period we have issued tax invoice then we can adjust the advance amount in this section and we have to pay tax only on balance invoice amount excluding the advance amount in which tax already being paid. The details of such advances for which tax invoice is issued in current tax period is to be given in this section such as POS and Rate wise advances received.

10. HSN wise summary of outward supplies: If turnover of the any business entity is more than Rs. 1.50 crores, they have to give HSN wise summary of outward supplies. Others can also give HSN wise summary of outward supplies voluntarily. Details such as HSN, Description, UQC, Total Quantity, Total Value, Total Taxable Value and tax amount are to be provided.

11. Document issued: Various documents required to be issued during the tax period by the tax payer for the various financial transaction. Details of the same is to be given in this section such as invoices for outward supplies – total, cancelled and net issued, invoices for inward supplies from unregistered dealer, revised invoices, debit note, credit note, receipt voucher, payment voucher, refund voucher and various delivery challans.

As mentioned above, various details are to be provided through GSTR-1. The same may be submitted either through EVC or through Digital signature. In case of companies and partnership firms filing of return is compulsory through digital signature.

We will discuss some interesting instances of implication of GST in my further articles. Your queries / feedback may please be emailed to me at s20.training@gmail.com .

– By CA Jigar Patel