CA Umesh Sharma

Arjuna : Krishna, On 5th of September there will be emersion of lord Ganesha. Whole period of Ganpati went in filing Form 3B & GSTR-1. So what is next?

Krishna: Arjuna, Form 3B for July & GST TRAN -1 month have been filed. The taxpayers who have furnished Form 3B late, they paid late fees on that but on 1st September government has issued one circular. According to that, there is no late fees for the taxpayers who will file late Form 3B. But there is no any clarification on the late fees which is already paid. Form 3B for August Month will have to be filed up to 20th September.

GSTArjuna: Krishna, when Form GSTR-1 is to be filed & what information is to be furnished in that?

Krishna: Arjuna, every taxpayer should give invoice wise details of sales in the form GSTR-1 of July. In form 3B information about aggregate turnover is given but now in Form GSTR-1 invoice wise details are to be given. The details furnished in Form 3B and details to be furnished in Form GSTR-1 is to be reconciled. In Form GSTR-1 aggregate turnover of last financial year & aggregate turnover from April to June of current year will have to be given. Similarly, the information about sales of July month is to be given according to HSN Code, quantity, taxable amount, amount of CGST, SGST & IGST is to be given. Form GSTR-1 of July is to be filed up to 5th of September and of August is to be filed up to 20th September.

Arjuna: Krishna, What information is to be furnished in Form GSTR-2 for July month & when it is to be filed?

Krishna: Arjuna, Form GSTR-2 of July month is to be filed up to 10th of September and form GSTR-2 of August is to be filed up to 25th of September. In that information of purchase will be auto populated. It is required to be verified before the above dates.

Arjuna: Krishna, What is Form GSTR-3?

Krishna: Arjuna, after filing of Form GSTR-1 & GSTR-2; Form GSTR-3 of July is to be furnished up to 15th of September and of August it is to be filed up to 30th September. In Form GSTR-3 taxpayers have to file monthly return.

Arjuna: Krishna, while doing this, what are the problems which taxpayers will face?

Krishna: Arjuna, for filing the return of July 5th Sept, 10th Sept, 15th Sept are the due dates. Further, for the month of August, the due dates are 20th, 25th, and 30th of the September. So, because of this now taxpayer will be in tension and hurry. There are complicated provisions of ITC & RCM in GST, so taxpayer should give attention on that. There is computerized system for filing of returns hence taxpayers have to face problem relating to that also.

Arjuna: Krishna, What lesson taxpayer should take from this?

Krishna: Arjuna, Every taxpayer should follow the rules regarding sale, purchases, advances, etc. on time. Before this in VAT most of the taxpayers used to file quarterly returns, but now in GST, except the composition dealer, taxpayer has to file 3 returns in every month. So, small & medium taxpayers are facing problems. So, to do the business or to comply with the provisions is the question. So, we can only say that, “Ganapati Bappa Moraya; Please remove the difficulties of GST return, Bring the system of quarterly return!”

Please note that due dated mentioned in the articles are been proposed to be extended to as follows by GIC but official notification in this regard is awaited-

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