As per the 31st GST Council meeting, it was decided that a new return system would be introduced introduced for taxpayers. In order to give ample opportunity to the taxpayers as well as the system to adapt the new returns, government of India has also release prototype of the new returns on the GST portal.

New GST Returns would be mandatory from 01st April 2020 and hence every Company shall equip or customise its ERP systems, to ensure the generation of reports as required in the new GST return system for smooth transition into new GST returns.

We at M jhawar and Associates have gone through the format of new GST returns and have listed down transaction-wise input requirements that may be useful at the time of filing of GST returns. At the same time, it would facilitate you for customising the ERP well in advance.

Following are the fields that would be required for the purpose of filing GST Returns.

Summary Table of Input Requirements

S.No. Tran-saction GSTN Place
of
su pply
Do cument
Details
(type/
No./ Date/
Value)
HSN code Tax Rate

%

Tax able Value Tax Amo-unt
(CGST/
SGST/ IGST)
Sh ipping
bill (No.
and Date)
1 Supplies to unregistered person

Χ

Χ Χ

Χ

2 Supplies to registered person

Χ

3 Exports with payment of tax

Χ

X

4 Exports without payment of tax

X

X X

5 Supplies to SEZ with payment of tax

X

6 Supplies to SEZ without payment of tax

X

X

7 Deemed Exports

X

8 Inward supplies attracting RCM

X

X

9 Import of Services

X

X

X

10 Import of Goods

X

X

11 Import of goods from SEZ

Narrative of Input Requirement

> Supplies made to Unregistered persons (Same fields for Invoice, Debit note or Credit note)

    • Place of Supply
    • Tax Rate%
    • Taxable Value
    • Tax amount (CGST, SGST and IGST)

> Supplies to registered persons (same fields for invoice, debit note or credit note)

    • GST Number of the customer
    • Place of supply
    • Document type (Invoice/Debit note/Credit note), Document number, date and Value
    • HSN Code upto 6 digits
    • Tax Rate %
    • Taxable Value
    • Tax Amount (CGST, SGST and IGST)

> Export with payment of tax and Exports without payment of tax (same fields for invoice, debit note or credit note)

    • Document type (Invoice/Debit note/Credit note), Document number, date and Value
    • HSN Code upto 6 digits
    • Tax Rate %
    • Taxable Value
    • Tax Amount (IGST)
    • Shipping bill No. and date

> Supplies to SEZ units/Developer with payment of tax or without payment of tax (same fields for invoice, debit note or credit note)

    • GST Number of the customer
    • Place of supply
    • Document type (Invoice/Debit note/Credit note), Document number, date and Value
    • HSN Code upto 6 digits
    • Tax Rate %
    • Taxable Value
    • Tax Amount (IGST)

> Inward supplies attracting Reverse Charge (same fields for invoice, debit note or credit note)

    • GST Number / PAN Number
    • Place of supply
    • HSN Code
    • Tax Rate %
    • Taxable Value
    • Tax Amount (CGST, SGST and IGST)

> Import of Services (same fields for invoice, debit note or credit note)

    • Place of supply
    • HSN Code
    • Tax Rate %
    • Taxable Value
    • Tax Amount (IGST)

> Import of goods (same fields for invoice, debit note or credit note)

    • Place of supply
    • Document type (Invoice/Debit note/Credit note), Document number, date and Value
    • HSN Code upto 6 digits
    • Tax Rate %
    • Taxable Value
    • Tax Amount (IGST)

> Import of goods from SEZ units/Developers

    • GST Number of the customer
    • Place of supply
    • Document type (Invoice/Debit note/Credit note), Document number, date and Value
    • HSN Code upto 6 digits
    • Tax Rate %
    • Taxable Value
    • Tax Amount (IGST)
    • Shipping bill No. and Date

> In case of supplies made through E-commerce operators, following information needs to be disclosed

    • GSTN of the E-commerce operator,
    • Total value of supplies made
    • Total value of supplies returned
    • Net Value of supplies
    • Tax amount (IGST, CGST and SGST)

In case of inward supplies, it is important that the information is maintained in the above desired format for the purpose of ease of reconciliation.

Author Bio

Qualification: CA in Practice
Company: M Jhawar and Associates
Location: Hyderabad, Telangana, IN
Member Since: 03 Mar 2019 | Total Posts: 3

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