15 February 2024
myclient applies for gst registration after cross his business turns over 1 crore in the month of Jan 2024. and he get GST Registration in the Month of Jan 2024 . He sales before the gst registration some exempted goods and some taxable goods. can he show the sales made before gst on the GST Portal.if yes how it is possible. Please help me asap
10 July 2024
If your client has obtained GST registration retrospectively from a date before the actual registration date (which is allowed under certain circumstances), they need to account for the sales made before GST registration on the GST portal. Here’s how it can be done:
### Steps to Show Sales Made Before GST Registration on GST Portal:
1. **Enter Opening Stock:** - Your client needs to enter the details of opening stock of goods held as on the day immediately preceding the date of GST registration. This includes both exempted and taxable goods.
2. **Record Sales Made Before GST Registration:** - For the sales made before GST registration: - **Exempted Goods:** Since GST is not applicable on exempted goods, these need to be recorded in the returns, but no tax is to be charged or paid on them. - **Taxable Goods:** For taxable goods sold before GST registration, your client needs to issue a tax invoice showing the details of such sales. They should charge GST on taxable goods and pay the GST collected on these sales in the GST return for the period in which they obtained registration.
3. **Filing GST Returns:** - Prepare and file the GST returns for the period in which registration was obtained (from the retrospective date). In the GST return: - **Table 3.1 (Details of Outward Supplies):** Enter the details of sales made after the retrospective registration date. - **Table 4 (Details of Eligible ITC):** You can claim Input Tax Credit (ITC) on goods held in stock on the day immediately preceding the date of GST registration.
4. **Amendments and Adjustments:** - If there are any corrections or amendments needed for the period before registration (like mistakes in invoices or reporting), these can be adjusted in subsequent returns through amendments (if within the prescribed time limit).
### Important Points to Note:
- **Date of Registration:** Ensure the date of registration entered in the GST registration form is correctly specified as the retrospective date from which registration is sought.
- **Tax Invoices:** Issue proper tax invoices for taxable supplies made before registration and account for GST collected on these invoices in the GST return.
- **Input Tax Credit (ITC):** Claim ITC on goods held in stock as on the date immediately preceding the date of registration.
By following these steps, your client can correctly account for sales made before GST registration on the GST portal and comply with GST regulations effectively. If there are specific details or scenarios unique to your client’s business, it may be beneficial to consult with a GST professional or a chartered accountant for precise guidance.
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