GST Returns?

This query is : Open

Dr. ShamsheerKhan (Querist)
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30 September 2017 If is a reprocessing industry manufactures Semi finished Raw material for further manufacturing industries of final product. The industry purchase scrap as inwards from small URDs. The query is Where to show these below 5k inwards/purchases in GST Returns?

RAJA P M

RAJA P M (Expert)
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30 September 2017 It's under 5k limit then no need show it anywhere in GST returns...

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anshul aggarwal

anshul aggarwal (Expert)
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01 October 2017 but keep in mind of all other supplies from URD as well while making this adjustment of keeping URD purchase under 5000

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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01 October 2017 You have ro give this details in GSTR-2...….......

anshul aggarwal

anshul aggarwal (Expert)
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01 October 2017 under which table In Gstr2.

RAJA P M

RAJA P M (Expert)
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01 October 2017 No need to show it in GSTR returns in any Form...

anshul aggarwal

anshul aggarwal (Expert)
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01 October 2017 I am little confused on this issue because of following reasons 1. The supply taken above is not exempted. Supply is of taxable goods. In normal course tax will be payable on this supply if bought from registered dealer and would have been reported in GSTR2. 2. Goods have been bought for processing so this is direct expenses of Purchase which should be reported and we're also reported in previous tax regime like Vat and not indirect expenses which can be foregone. 3. If this purchase has gone above 5000 per day it would have come under RCM and need to be reported. That's why I feel it's system glitch that something should be reported but buyer is using a notification of exemption of Rs. 5000 to avoid this reporting.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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01 October 2017 You have to report this.....

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anshul aggarwal

anshul aggarwal (Expert)
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01 October 2017 But where this need to be reported. under which table and column.

RAJA P M

RAJA P M (Expert)
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01 October 2017 Also the same related discussed once a day and Our Fellow Experts the great CA SEETHARAMAN Sir replied to "It's no need Show in GSTR returns". Also Ca Rashmi Gandhi attent the query...

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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01 October 2017 You have to give details in GSTR-2 Exempted inward supply.

RAJA P M

RAJA P M (Expert)
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01 October 2017 Just enter exempted goods in there not enter any other. Above said is not exempted goods...

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Dr. ShamsheerKhan

Dr. ShamsheerKhan (Querist)
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01 October 2017 Shall we consider this as NON-GST inwards supply?

anshul aggarwal

anshul aggarwal (Expert)
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01 October 2017 This is not simple as it seems. 1. These are taxable goods and as Mr. raja has told cannot be considered as exempted goods. hence will not go under supply of exempted goods. 2. If you consider that these taxable goods have become exempted vide notification of RCM under 5000 that will lead to massive accounting as other services supplies on that particular date from URD will also be have to considered in this supply. As of now I feel there is no option to fill such details and it's better to leave such supplies from return.

anshul aggarwal

anshul aggarwal (Expert)
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01 October 2017 This is just my personal opinion.

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anshul aggarwal

anshul aggarwal (Expert)
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01 October 2017 These are taxable goods and also not fall in NONGST goods category

Dr. ShamsheerKhan

Dr. ShamsheerKhan (Querist)
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01 October 2017 This will leads to stock on hand mismatch with GSTN while annual Electronic audit.

anshul aggarwal

anshul aggarwal (Expert)
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01 October 2017 You are absolutely correct that why I am also worried about your query because it's result will surface after few months.

anshul aggarwal

anshul aggarwal (Expert)
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01 October 2017 Basically purchase of goods should not go unreported in returns.

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RAJA P M

RAJA P M (Expert)
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01 October 2017 @Mr. ShamsheerKhan., No... It's not considered as Non-GST supply... It's taxable supply. But, Allowed in ceiling limit. So, We don't show it anywhere....

RAJA P M

RAJA P M (Expert)
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01 October 2017 Also Non-GST supply ll be shown only it related business people. Not to other business hands...

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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01 October 2017 Firstly wait for GSTR -2 for better opinion. But in my opinion you have to report otherwise there will be difference in your actual inward supply & reported inward supply.

Dr. ShamsheerKhan

Dr. ShamsheerKhan (Querist)
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01 October 2017 Shall we recommend clients to mention in NON-GST inwards in Str2.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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01 October 2017 No you cant guide so. There may be some option. Also you have to show HSN wise inward summary also in which it is included.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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01 October 2017 Wi repky you after check GSTr-2 format.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 October 2017 Fill it in table 8 of GSTR 2
Details of materials received from unregistered persons during the tax month – this is a common field for mentioning all kinds of supplies that have been received from unregistered persons, both intra-state and inter-state. The supplies that are received shall include materials received from an unregistered person, composition dealer and remaining non-GST, exempted or zero-rated supplies.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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01 October 2017 Agreed with with CA Seetharaman Sir.

RAJA P M

RAJA P M (Expert)
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01 October 2017 Dear Mr CA SEETHARAMAN Sir., The 5k limit expenses ll be shown in GSTR returns or not...? It's mandatory for showing the details...?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 October 2017 It will be shown in GSTR returns.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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01 October 2017 Same is required to be shown