29 October 2017
Dear Sir /Madam,
Can any body tell me the GST returns Breed discussion,
1)How many returns are their ?
2)GST R 1 ,2,3 what is Meaning ?
3)Monthly / Quaterly returns?
4)DUE date for returns ?
5)Penalties and fine?
6)cash payment towards petty cash Need to pay GST?
7)Returns Processes ?
29 October 2017
Dear Mr.Subramanyam ji,
Here I'm giving an over view for your queries.
1. There will be 5 returns
namely
GSTR 1 for Sales
GSTR 1A for Changes made to sales invoices in GSTR 1
GSTR 2 Purchases
GSTR 3 Consolidated monthly sales , purchases return
GSTR 3B simple return for JULY to DECEMBER showing Total of Sales and purchases and payment of liability if any
29 October 2017
Now I will try to explain the monthly return process
First & foremost return is GSTR 3B
It is simple return where we should show total of Sales & Input ( purchases ) and we should pay tax liability or we can claim credit , if available
GSTR 3B is only for July to DECEMBER , as it is the initial stage of implementation taxpayers may have difficulty to file return in time so govt keep in extending due dates
But Govt should get revenue to meet their expenses so they introduced GSTR 3B once the return filing is on stream line this will be removed
Due date : 20 th of subsequent month.
For example due date for september month GSTR 3B is August 20
29 October 2017
after filing GSTR 1 The same will reflect in your customers GSTR 2A in the same way our supplier files GSTR 1 and the same will appear in our GSTR2A as purchases
GSTR 2A data is only for view purpose and we cannot take any action on that.
We should take action on each and every invoice in GSTR 2
Actions will be ACCEPT if invoice details in GSTR 2 are matching with our books
MODIFY if invoice is there in our books but amount or tax rate is wrong
REJECT if invoices not belongs to us at all
PENDING we purchased but goods or invoices are not received
ADD MISSING INVOICES if any invoices are missing in GSTR 2
29 October 2017
Then GSTR 1A
when our customer makes any correction in his GSTR 2 the same will appear in our GSTR 1A and we should take action
ACCEPT or REJECT and the same will reflect in our GSTR 1 as per our action
CAclubindia
