As we already knew that in September month there are 7 returns to be filed under GST (for July & August) and this month is going to be a bit hectic. In this write-up, an over view of all the forms together with their due dates are being discussed:
For the Month of July, 2017
| Name of the Form | Due date |
| GSTR-1 | 1st to 5th September, 2017 |
| GSTR-2 | 6th to 10th September, 2017 |
| GSTR-3 | 11th to 15th September, 2017 |
For the Month of August, 2017
| Name of the Form | Due date |
| GSTR-1 | 16th to 20th September, 2017 |
| GSTR-3B | 20th September, 2017 |
| GSTR-2 | 21st to 25th September, 2017 |
| GSTR-3 | 26th to 30th September, 2017 |
Let’s have an overview of the above mentioned forms.
FORM GSTR-1 (Details of outward supplies of goods or services)
What is FORM GSTR-1??
FORM GSTR-1 is for outward suppliers. It contains the details of sales during a particular month. Every registered person is required to file FORM GSTR-1 irrespective of the fact whether there are any transactions during the month of not.
Who are not required to file FORM GSTR-1??
Following are the persons who are not required to file:
– Input service distributor
– Composite dealers
– Suppliers of online information and database access or retrieval services (OIDAR), who have to pay tax themselves (as per Section 14 of the IGST Act)
– Non- Resident taxable person
– Taxpayer liable to collect TCS
– Taxpayer liable to deduct TDS
| It may be noted that once GSTR-1 is filed, it cannot be revised. Any mistake will be rectified in the next months return. |
What are the details to be furnished in FORM GSTR-1??
There are 13 different heads in the form. Following are the details to be furnished in FORM GSTR-1:
1. GSTIN of the person filing the return (Auto- Populated)
2. Name of the taxable person (Auto Populated)
3. Aggregate turnover in the preceding financial year & Aggregate turnover from April to June, 2017
4. Taxable outward supplies made to registered persons (including UIN holders) other than covered by Table 6
5. Taxable outward inter-state Supplies to un-registered persons where the invoice value is more than 2.5 lakh.
6. Zero- rated supplies and Deemed Exports
7. Taxable Supplies (Net of debit notes and credit notes) to unregistered persons other than the supplies covered in Table 5
8. Nil- rated, exempt and non- GST outward supplies
9. Amendments to taxable outward supply details furnished in returns for earlier tax periods in table 4,5 & 6 [including debit notes, credit notes, refund vouchers issued during current period and amendments thereof]
10. Amendments to taxable outward supplies to unregistered persons furnished in returns for earlier tax periods in Table 7
11. Consolidated statement of advances received/advance adjusted in the current tax period/ amendments of information furnished in earlier tax period
12. HSN- wise summary of outward supplies
13. Documents issued during the tax period
FORM GSTR-2 Details of inward supplies of goods or services
What is FORM GSTR-2??
Form GSTR-2 is for inward suppliers. Every Registered dealer is required to furnish the details of Inward supplies in Form GSTR-2. Once the outward supplier filled their sales information in Form GSTR-1, now the inward suppliers comes into picture. Now the recipient is to file their receipts of goods or services in Form GSTR-2.
Who are not required to file FORM GSTR-2??
Following are the persons who are not required to file:
– Input Service Distributor
– Compounding Taxable persons
What are the details required to be furnished in FORM GSTR-2??
Following are the details required to be furnished:
1. 15 digit GSTIN of the dealer (Auto- populated)
2. Legal name of the registered person (Auto populated)
3. Inward supplies received from a registered person other than the supplies attracting reverse charge
4. Inward supplies on which tax is to be paid on reverse charge
5. Goods/ Capital Goods received from Overseas (import of goods) or from SEZ units on a Bill of Entry
6. Amendments in Goods / Capital Goods Received from Overseas (Import of goods) of Earlier Tax Periods in Tables 3, 4 and 5 [including debit notes/credit notes issued and their subsequent amendments]
7. Supplies received from composition taxable person and other exempt/Nil rated/Non GST supplies received
8. ISD Credit Received
9. TDS & TCS Credit Received
10. Consolidated Statement of Advances paid/Advance adjusted on account of receipt of supply
11. ITC Reversal/ Reclaim
12. Addition and reduction of amount in output tax for mismatch and other reasons
13. HSN summary of inward supplies
FORM GSTR-3 Monthly return
What is FORM GSTR-3??
Form GSTR-3 is a monthly return, wherein every registered business is required to furnish the details of Inward & Outward supplies and make GST payment.
What are the details to be furnished in FORM GSTR-3??
Following are the details, required to furnish in Form GSTR-3:
1. GSTIN (Auto- populated)
2. Name of the taxable person (Auto- populated)
PART-A
3. Turnover Details
4. Outward Supplies
5. Inward Supplies attracting reverse charge including import of services (Net of advance adjustments)
6. Input tax credit
7. Addition and reduction of amount in output tax for mismatch and other reasons
8. Total tax liability
9. Credit of TDS and TCS
10. Interest liability
11. Late Fee
PART-B
12. Tax payable and paid
13. Interest, Late Fee and any other amount (other than tax) payable and paid
14. Refund claimed from Electronic cash ledger
15. Debit entries in electronic cash/Credit ledger for tax/interest payment [to be populated after payment of tax and submissions of return]
FORM GSTR-3B
Already covered in my earlier article:
https://taxguru.in/goods-and-service-tax/transitional-credit-claimed-form-gstr3b.html
Conclusion:
Every taxpayer has to pull their socks up, as in September month there are seven returns to be filed. In addition to this, Form TRAN-1 is also to be filed by those who did not avail transitional credit in the month of August, 2017. In my next article, How to file Form GSTR-1 will be taken up.
References:
Hope this information will help you in your Professional endeavors. For further assistance/query, feel free to write to us.
Author: C S Ekta Maheshwari is the Author of this article and is Company Secretary by profession. The Author can be reached at csektamaheshwari14@gmail.com
Disclaimer:
The entire contents of this article is solely for information purpose and have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation.. It doesn’t constitute professional advice or a formal recommendation. The author has undertook utmost care to disseminate the true and correct view and doesn’t accept liability for any errors or omissions. You are kindly requested to verify & confirm the updates from the genuine sources before acting on any of the information’s provided herein above.
Author Bio
I am a GST Registered Professional providing Management Consultancy Services to Corporates. Besides, I also sit on Boards of two Companies as Nominee Director and receive Sitting Fees whenever I attend Board meetings.
While raising Invoice on my corporate clients, I charge GST on my fees. The GST so charged would be paid by me to the Government in the usual manner. But as regards Sitting Fees, no GST is to be charged by me and I presume that the concerned company whose Board meeting I attend would be paying GST under Reverse Charge Mechanism. My specific queries are :
1. Is my presumption regarding the concerned company paying GST under RCM on the Siting fees paid to me correct?
2. In GSTR-1, the aggregate turnover in the preceding financial year (FY 2016-17) and turnover for the April 2017-June 2017 quarter is required to be mentioned in top Boxes. Should this turnover include the Sitting fees received by me during these respective periods ?
3. If answer to 1 and 2 above is ‘yes’, would such Sitting fees received in current and subsequent years also need to be shown in GSTR 1 of the relevant months, though no GST is to be paid by me.(Concerned Company would pay under RCM)
4. If answer to 3 above is ‘Yes’, then under which head/column/box of GSTR 1, should such receipts of Sitting fees received in the relevant month, be shown by me without the filer (me) being responsible for payment of GST.
5. Also, if such be the case, whether it will be mandatory to mention GSTIN of the paying Company in the GSTR 1 to be filed by me.
6. Simultaneously, whether the paying Company would also be required to show these payments under their GSTR 1 (or any other Return) under RCM and also quote my GSTIN?
An early response would be of immense help in filing my GSTR-1 by the due date.