GST Registrations Tax Invoice Accounts Returns CA PREETY

GST- Registrations, Tax Invoice, Accounts, Returns CA. PREETY PARIK

Definitions w. r. t Registration 2(108) “Taxable supply’’ means a supply of goods and/or services which is leviable to tax under this Act; 2(78) “non-taxable supply’’ means a supply of goods or services which is not leviable to tax under this Act or under IGST Act; 2(47)“exempt supply” means supply of any goods and/or services which attract nil rate of tax or which may be wholly exempt from tax under section 11 or under Sec. 6 of IGST and includes Non Taxable Supply

Definitions w. r. t Registration 2(6) “aggregate turnover” means the aggregate value of all taxable supplies + exempt supplies + exports of goods and/or services + inter-State supplies of a person – Inward Supplies on which Tax has been paid on RCM having the same PAN, to be computed on all India basis excludes taxes and Cess, if any, charged under the CGST, SGST, IGST Act, UT • Agent includes turnover on behalf of all his principals • Job Work – value of such goods not to be included

Registration Chapter VI Liability to be Registered – Sec. 22 (1) ü Every Supplier is liable to be registered, in a state from where he makes a taxable supply �Aggregate turnover > 20 Lacs in a financial year �Aggregate turnover > 10 Lacs in a financial year – states 279 A(4)(g) of the constitution and special category states. (Arunachal Pradesh, Assam, J&K, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, HP and Uttarakhand)

Registration Chapter VI ü Irrespective of any amount of turnover : �Person making any interstate taxable supply. �Casual taxable Person making taxable supply �Paying tax under reverse charge �Paying Tax under RCM by Electronic Commerce operator �Electronic Commerce Operator �Non Resident Taxable persons making taxable supply �Persons required to TDS/ TCS �Person who supplies goods / services on behalf of other Taxable person whether as an agent or otherwise.

Registration Chapter VI Irrespective of any amount of turnover : �Person Supplying online information and database access or retrieval services from place outside India to a person in India, other than a registered taxable person. �ISD �Others- notified by Government �Voluntary registration �Every person who is registered under existing laws before the appointed day

Registration ü Suo Motto Registration by proper officer: �In case of search, survey, inspection, enquiry or any other proceeding �The proper finds any person liable for registration but has failed to apply for registration, he may issue an order and register the person on temporary basis. �The registration is effective from date of order �The person may prefer appeal or apply for registration within 90 days of order of registration.

Registration ü Not liable to be registered: �Person engaged – exclusively in business of supply that are not liable to be tax or wholly exempt from Tax. �An agriculturist to the extent of supply of produce out of cultivation of land. �Specified category of persons exempted from registration by notification

Registration Where to be Registered: �Every such state from where the supplier makes a taxable supply of Goods and/ or Services. �Supplier may obtain separate registration for each business vertical within the state. Each business vertical will be distinct person �SEZ or SEZ developer to make separate registration as business vertical distinct from its units outside SEZ

Registration When to be apply: �Within 30 days of being liable to be registered. �In case of Casual Taxable persons and NR, shall apply for registration at least five days before comencement of business.

Registration When is liability for registration Liability to be registered Persons registered under earlier law From the appointed day In case of transfer of business by succession or otherwise, by way of going concern In case of transfer pursuant to order of High Court Date of transfer of succession In case of threshold turnover Requisite : - PAN TAN for TDS TCS Other document for NR. Date of Issue of Certificate of Incorporation by ROC to give effect to the order of HC From the supply exceeding threshold turnover

Registration Effective Date of Registration: If application is made within thirty days from the date on which the person became liable for registration, the registration shall be effective from the date he was liable for registration. If application submitted after thirty days, the effective date of registration will be the date of grant of registration. In case of Voluntary Registration, effective registration is from the date of grant of registration.

Registration Amendment of Registration � Inform proper officer of Changes information given, within 15 days of change. � If change = Name, principal place/ additional place of business, details of partners/. . � Proper officer shall approve amendment within 15 days and it is effective from occurrence of event � In case of other change, amendment takes place after submission of application. � If change results New PAN, apply for new reg 15 -15 -7 -7

Registration Cancellation of Registration: By Registered Person or by legal heir �Business- Discontinuance/ Transferred fully / Amalgamated/ demerged/ Disposed or death of proprietor � Change in Constitution of Business � No longer liable to be registered

Registration By Proper Officer is such person �Does not conduct any business from the declared place of business � Issues Invoice or Bill of Supply without supply � Not furnished returns for 3 tax period-(composition) � Not Furnished returns for consecutive 6 months � Voluntary- not commenced business within 6 months from date of registration. � Registration has been obtained by fraud… �SCN, Opportunity of being heard to follow.

Registration Cancellation of Registration subject to � Payment of tax and other dues under Act � ITC on inputs in stock, semi finished goods, capital goods held in stock or the output tax payable, whichever is higher on date preceding the date of cancellation has to be paid.

Registration Revocation of registration (in case of cancellation of registration by proper officer) �Apply for revocation within 30 days of service of order �Proper officer may revoke or reject �SCN/ opportunity to be heard before rejection.

Registration Casual Taxable Person / Non resident �Apply for registration at least five days before the commencement of business. �Shall make taxable supply only after issue of registration. �Registration valid <90 days, further extend to 90 days �Shall make advance deposit of tax/ estimated tax liability at the time of submission of application for registration.

Registration Forms as per Rules Application for registration GST REG-1 Acknowledgement Immediately GST REG-2 Intimation of error in application Reply to Intimation Within 3 working days GST REG-3 Within 7 working days GST REG-4 Rejection of application Within 7 working days GST REG-5 Issue of Registration 3/ 7 working days certificate Amendment to particulars in Within 15 days of change registration Order of Amendment GST REG 6 Application for Cancellation for registration SCN Cancellation of registration Suo Motto by proper officer Reply to SCN GST REG 14 Order of Cancellation GST REG 18 Order to Drop Cancellation GST REG 19 GST REG 13 GST REG 14 GST REG 16 GST REG 17

Registration Forms as per Rules Application for registration GST REG-1 For TDS/ TCS REG 07 Cancellation of registration granted above REG 08 NR Five days before REG 09 Supplying online information REG 09 A Extension of Period by casual/ NR REG 10 Suo Motto registration by proper Officer REG 11 Report of physical verification of place of business after grant of registration by proper officer REG 29

Registration Forms - Transition Provisional certificate of registration On the appointed day Intimation of discrepancy in the application After appointed day Issue of final Certificate of Registration GST REG 6 Application for cancellation Within 30 days GST REG 28 of provisional certificate from the appointed day Cancellation of Provisional GST REG 26 Certificate by Proper GST REG 27 officer - SCN

Returns Sec. 37 -Sec. 40 Particulars Due Date for Filing Return No Details of Outward Supplies By 10 th day of Month following the Tax Period GSTR -1 Details of Inward Supplies By 15 th day of Month following the Tax Period GSTR -2 Monthly Return alongwith payment of Taxes By 20 th day of Month following the Tax Period GSTR -3 Annual Return for every Financial year By 31 st day of Dec following the end of the financial year GSTR -9 Final Return in case of Cancellation of Certificate Within 3 months of GSTR -10 cancellation/ order

Returns Sec. 37 -Sec. 40 Particulars Due Date for Filing Quarterly Return by Composition By 18 th day after Supplier the end of the quarter TDS Return No GSTR -4 By 10 th day after GSTR -7 the end of the month in which tax has been deducted TDS certificate GSTR – 7 A (auto) ISD By 13 th day after GSTR -6 the end of the month in which tax has been deducted TCS Return and return of Ecommerce operator By 10 th day after GSTR -8 the end of the month in which tax has been deducted NR By 20 th day GSTR- 5

Returns - Outward Supplies- GSTR-1 ü At invoice level �Interstate Supplies to Registered Persons �Intrastate Supplies to Unregistered Persons, supplies > 2. 5 lacs ü At consolidated Level �Intrastate supplies to URD- Ratewise �Interstate supplies to URD<2. 5 L – Statewise, Ratewise ü Debit notes and Credit notes issued in the month

Returns �GSTR 1 details not allowed to furnish during 11 - 15 �Details added/ modifies/deleted by recipient will be available in GSTR- 1 A. He can accept or reject between 16 th and 17 th �Rectification to any error or omission in respect of GSTR 1 - GSTR 2 allowed upto furnishing of return of september after the end of FY �Revised Invoice details in first return of Supplier – Newly Registered supplier

Returns - Inward Supplies- GSTR-2 Prepare Details and file �Intrastate Supplies, Invoice Wise from RP (autopopulated) – GSTR 2 A�Interstate Supplies, Invoice Wise, statewise from RP (autopopulated) – GSTR 2 A�Intrastate Supplies- URD- Invoice wise �Interstate Supplies – URD- statewise – Invoice wise �Import of Goods �Debit note and Credit note from RP (autopopulated)

Returns - Inward Supplies- GSTR-2 GSTR 2 All Autopoulated �Part A - Supplies from Registered Person �Part B - Transfer from ISD �Part C - Details from TDS return of Dedudctor �Part D - Details from TCS return of collector

Returns - Inward Supplies- GSTR-2 GSTR 2 �Specify ineligible ITC, invoice level, wholly or partially �Quantum of ineligble ITC which cannot be determined at invoice level

Returns - Monthly Return - GSTR-3 Part A (autopopulated ) GSTR-1 GSTR -2 (RCM , quantum of ineligible credit, reversal of credit) Part B (autopopulated ) GSTR- 2 ITC GSTR 2 - TDS GSTR 2 - TCS Details of Tax payment to be given in part B

Returns - Monthly Return - GSTR-3 GSTR 3 to be submitted and GSTR-4 (composition) has to be furnished even if NIL return Revised Return not permitted. Corrections to be done in current month return Current month return will be filed subject to filing of earlier month’s return Notice in Form GSTR 3 A will be sent non filers of GSTR 3, GSTR-4 and Annual return- GSTR 9 within 15 days

Returns - Annual Return - GSTR-9 Regular – GSTR 9 Composition –GSTR 9 A Audited annual accounts and reconciliation statement in Form GSTR-9 B Audit of Accounts Aggregrate Turnover> 1 Cr

Returns - Return for compounding supplier - GSTR-4 Submit Interstate inward supplies, invoice wise from RP Interstate inward supplies, invoice wise from URP Intrastate inward supplies, invoice wise from URP Import of Goods and Services Debit and Credit notes issued and received Consolidated details of outward supplies

Returns Late Fees GSTR 1 and GSTR 2 GSTR 3 GSTR 4, TDS Return and TCS return – Rs. 100 for every day , MAX Rs. 5000 Annual Return GSTR 9 - RS. 100 for every day, MAX – 0. 25% of turnover in state or UT

GST Practitioner �Application to Authorised officer – FORM GST PCT-1 for enrollment �Issue Certificate in FORM GST PCT 2 or reject appl �If found guilty of misconduct in connection with any proceeding SCN FORM GST PCT – disqualify him �Appeal within 30 days to Commissioner �LIST of enroller PCT in FORM GST PCT 5 �RP authorisation to PCT in FORM GST PCT 6 �PR withdraw authority GST PCT 7

GST Practitioner �Furnish GSTR 1 and GSTR 2, GSTR 3, GSTR 4, GSTR 9 �Make deposit of tax �File claim for refund �File application for amendment/ cancellation o registration �Attend before any authority in connection with any proceedings �Consent to be filed for representing URD �Return filed by PCT- confirmed by RP- if not received deemed to be confirmed

Accounts and Records ü Accounts at Principal Place of Business �Production/manufacture of Goods �Inward and Outward Supply of Goods/ Services or both �Stock of Goods �Input Tax Credit availed �Output Tax payable and Paid �Such other particulars as may be prescribed ü At every place of Business in Reg. Cert – accounts relating to that place ü Accounts in electronic form in manner as prescribed

Accounts and Records ü Failure to maintain Accounts Proper Officer may determine tax payable as if Goods or Services have been supplied by such person and penalty provisions to follow ü Period of Retention 81 months from the end of FY (72+ due date of furnishing of Annual Return for FY) In case of litigation. Till one year after final disposal of Appeal Whichever is later

Accounts and Records ü Operator of Warehouse. Records of Goods ü Transporter Record of Consigner, Consignee and Goods In manner to be prescribed

Date for Issue of Invoice - Sec. 31 Supply of Taxable Goods Time for Issue of Tax Invoice Involves Movement of Goods Before or at the Time of Removal of Goods Does not involve movement of Goods Before or at the Time of Delivery or making available the Goods to the recipient Certain Supplies notified by Government on recommendation of Council Time and Manner for Issue of Invoice as may be prescribed Continuous supply of Goods. Successive Statement of accounts are involved Before or At the time each statement is issued Continuous supply of Goods. Successive payments are involved Before or At the time each payment is received Goods sent on approval Before or At the time of supply or six months from the date of removal whichever is earlier

Date for Issue of Invoice - Sec. 31 Supply of Taxable Services Time for Issue of Tax Invoice General Before Supply of Service or Within 30 days of Supply of Service In case of Banks/ Financial Institutions/ NBFC/ Insurance Within 45 days of supply of service Continuous supply of Services. Due date for payment is ascertainable from the contract On or before the due date for payment Continuous supply of Services. Due date for payment is not ascertainable from the contract On or before the time supplier receives payment Continuous supply of Services. Payment linked to completion of an event On or before the date of completion of event

TAX Invoice – Sec. 31 For New Registration – Revised Invoice to be issued from date of Effective registration to the date of grant of registration , within one month of grant of issuance of certificate of registration

Particulars Document to be Issued RP supplying Exempted goods/ Services Bill of Supply Composition Supplier Bill of Supply On receipt of Advance payment by RP Receipt Voucher Refund of Advance in case of no Supply Refund Voucher On receipt of Goods/ Services- RCM Tax Invoice If Tax Invoice Value > Taxable Value Goods return, Goods deficient Credit Note If Tax Invoice Value < Taxable Value Tax charged< Tax payable Debit Note

TAX Invoice – Sec. 31 ü URP not to collect Tax ü RP not to collect except in accordance with provisions of this Act ü Tax Invoice / Bill of Supply may not to be Issued � Value of Supply is less than Rs. 200 � Supply is to Unregistered recipient �The recipient does not require it He may issue consolidated Tax Invoice for such supplies at the close of each day wrt all such supplies

TAX Invoice – Sec. 31 No. Supplier Name Address GSTN Date Recipient If URD> 50, 000 Name Address GSTN Address of delivery State Code Place of Supply Address of delivery if other than POS Description HSN Qty Total Value Total taxable Value Rate of Tax CGST SGST IGST UT Cess Amount of Tax XX XX If tax payable on reverse charge Sd/-

Bill of Supply No. Supplier Name Address GSTN Description Recipient Name Address GSTN HSN Date If URD Name Address Total Value Sd/-

Receipt Voucher No. Supplier Name Address GSTN Date Recipient Name Address GSTN Place of Supply Description Amount Rate of Tax Amount of Adv of TAx Whether tax payable on RCM Sd/-

Credit/ Debit Note No. Nature of Document Date S. No of corresponding tax invoice, BOS Supplier Recipient URD Name Address GSTN Address of delivery Value Rate of Tax Amount Sd/-

Manner of Issue of Tax Invoice In case of Goods Original for recipient Duplicate for Transporter Triplicate for Supplier In Case of Services Original for recipient Duplicate for Supplier * The serial no of invoices issued during tax period shall be furnished in GSTR 1

Manner of Issue of Tax Invoice Goods removed for • Supply of Liquid gas �Job work �For reasons other than supply �Such supplies as notified Consignor may issue delivery challan at time of removal Date, No Consinger- Name, Add, GSTN Consignee – Name Add, GSTN HSN code, description , qty, taxable value, tax rate, tax amt if supply is to consignee Place of Supply Sd/-