1. From when do the first Returns need to be filed by taxable person in respect of outward supplies?
Ans: First Return of outward supplies need to be filed from the date on which he became liable for registration till the end of the month in which the registration has been granted.
2. From when do the first Return needs to be filed by taxable person in respect of inward supplies?
Ans: First Return of inward supplies need to be filed from the effective date of registration till the end of the month in which the registration has been granted.
3. What would be done on the tax paid on advance receipt if advance has to be refunded in any circumstance?
Ans: Advance refunded can be adjusted in the Return.
4. Do registered dealers have to upload the sale details of un-registered dealers also in GST?
Ans: Generally not. But required in case of inter-State supplies having invoice value of more than Rs 2.50 lakhs.
5. How to incorporate two supplies in return for Pharma with same HSN Code of four digits but having different tax rates?
Ans: Returns provide for furnishing rate wise details.
6. Who shall undertake responsibility for keeping proper accounts under this provision and in case of contraventions?
Ans: The principal would undertake the primary responsibility and accountability of the goods including payment of taxes, if any.
7. What is the time limit within which Capital goods have to be returned to Principal?
Ans: Three years.
8. Can the benefit of sub Section 1, 2 and 3 be availed even if the date of removal of inputs, semi-finished goods or finished goods is falling beyond one year before the appointed date?
Ans: There are no restrictions in Sec 141 regarding the time period before the appointed date within which the date of removal of goods removed should fall in order to avail the benefit of Section 141. The restriction regarding the time limit is only in respect of receiving back of the goods to the place of business from where those goods were originally removed.
9. A person who is registered under Service Tax as well as under Central Excise and having un-availed CENVAT credit in Central Excise Return, has not filed his service tax returns. Whether he can carry forward the un-availed CENVAT credit as per the last Central Excise Return to the GST regime?
Ans: No. Credit cannot be taken unless he has furnished all the returns required under the existing law for the period of six months immediately preceding the appointed date.
10. Whether Returns under CST in relation to the six months immediately preceding the appointed date also to be furnished in order to carry forward the un-availed CENVAT credit with respect to Service Tax and Central Excise into the GST regime?
Ans: Yes. The registered person has to furnish all the Returns required under the existing law for the period of six months immediately preceding the appointed day.
11. The traders are not used to classify the goods under the HSN nomenclature and are likely to face hardship in this regard?
Ans. Taxpayers whose turnover is above Rs.1.5 crores but below Rs.5 crores shall use 2-digit code and the taxpayers whose turnover is Rs. 5 crores and above shall use 4-digit code. Taxpayers whose turnover is below Rs. 1.5 crores are not required to mention HSN Code in their invoices. Further the goods emanate either from manufacture or from imports. The traders usually don’t change the nature of goods. The classification, in general, will be in continuity from the HSN declared by the manufacturer or importer both of whom have been using the system in the past also.
12. What if a manufacturer/businessman is unable to undertake compliances under GST himself?
Ans. Under GST, the government will allow qualified persons to act as GST Practitioners. In case the manufacturer is unable to undertake compliances himself, he can utilize the services of such GST practitioners to do the compliances for him.There would also be Facilitation Centres, help desks in each GST Commissionerate. There would also be facility of GST Suvidha Providers (GSPs) who would be developing software for uploading data on to the GSTN portal.
Do you think CBDT should extend Tax Audit Report and relevant ITR Due Date? Please Comment, Vote, Retweet and Like.— Tax Guru (@taxguru_in) September 18, 2018