1. GST Seminar Hosted by :- Akola Branch of WICASA of ICAI
Prepared By:
CA KEYUR S DEDHIA
SAGAR KAWNA & CO.
CHARTERED ACCOUNTANTS
Phone : , ,

2. Coverage
Invoices under GST
Returns filling under GST

3. Tax parlance General parlance Background
Invoice in simple terms is nothing but a document specifying list of goods sent or services provided and a statement of the sum due against those items.
Invoice?
General parlance
An invoice does not bring into existence a sale agreement but merely records the terms of whatever arrangement that may have been entered into by the parties, involving the subject matter.
Therefore, an invoice can evidence not only a sale but every other form of supply such as transfer, barter, exchange, license, rental, lease or disposal.
Tax parlance

4. GST Invoice
The Task Force on GST said the computation of CGST and SGST liability should be based on the Invoice credit method i.e. allow credit for tax paid on all intermediate goods and services on the basis of invoices issued by the supplier.
Invoice level detail is necessary for the reconciliation of tax deposits, and the end-to-end reconciliation of ITC. An effective IGST implementation may also require invoice-level details.
A number of states are capturing invoice details even in the existing VAT systems. It is proposed to follow a two-pronged approach with Dealer level granularity of returns in the first phase followed by invoice level in the next phase.

5. Invoice under GST
GST requires that a tax invoice or bill of supply to be issued before or on the occurrence of certain event or within a prescribed time. Therefore, an invoice is required for every other form of supply such as transfer, barter, exchange, license, rental, lease or disposal.
GST allows seamless flow of Input Tax Credits (ITC) across the supply chain. One of the fundamental pillars of GST is checking the Input Tax Credit (ITC) Claims, for which data of all Invoices to be uploaded and matched. Goods and Services Tax Network (GSTN) seeks all registered dealers shall file Invoice wise details in order to do such matching.

6. The new Format for Invoices to be issued for supply of goods under GST

7. Tax Invoice: Requirements
Every registered taxable person under GST supplying Goods or services is required to issue a tax invoice for all supplies effected. However, government may notify some other document for certain category of services. Example: Bus ticket, Bank Voucher etc.,
Provided also that in case of export of goods or services, the invoice shall carry an endorsement
“SUPPLY MEANT FOR EXPORT ON PAYMENT OF INTEGRATED TAX” or
“SUPPLY MEANT FOR EXPORT UNDER BOND OR LETTER OF UNDERTAKING WITHOUT
PAYMENT OF INTEGRATED TAX”,
as the case may be, and shall, in lieu of the details specified should contain the following details:
(i) name and address of the recipient;
(ii) address of delivery; and
(iii) name of the country of destination:
Provided also that a registered person may not issue a tax invoice in accordance with the provisions section 31(3)(b) subject to the following conditions, namely:-
(a) the recipient is not a registered person; and
(b) the recipient does not require such invoice, and shall issue a consolidated tax invoice for
such supplies at the close of each day in respect of all such supplies.

8. Supply of Taxable Goods
When Tax Invoice shall be issued?
Before/at the time of:-
Removal of goods, if supply involves movement of goods
Delivery of goods/making available to recipient, if supply doesn’t involve supply of goods
Issuance of successive statement accounts, if supply is a continuous supply of goods
When recipient approves 6 months from the date of removal, if supplied is on approval basis.
Supply of Taxable Goods
Registered taxable person shall issue Tax Invoice
Within 30 days from the date of provision of services, in normal cases
On or before the due date for payment, in case of continuous supply of services where due date ascertainable
On or before the date of payment, in case of continuous supply of services where due date is not ascertainable
At the time of cessation, in case of continuous supply of services where contract ceases
Supply of Taxable Services

9. Manner of issuing Tax Invoice
In TRIPLICATE
Original for recipient
Duplicate for transporter
Triplicate for supplier
Supply of taxable goods
Tax invoice shall be prepared
In DUPLICATE
Original for recipient
Duplicate for supplier
Supply of taxable services

10. BILL OF SUPPLY RECEIPT VOUCHER
Tax invoice is generally issued to charge the tax and pass on the credit.
Cases where a registered supplier needs to issue bill of supply:
 Supply of exempted goods or services
 Supplier is paying tax under composition scheme
A bill of supply is not eligible for claiming input tax credits.
Provided further that any Tax Invoice or any other similar document issued under any other Act for the time being in force in respect of any non-taxable supply shall be treated as Bill of Supply for the time being.
RECEIPT VOUCHER
A receipt voucher contains aspects similar to that of Bill of Supply.
Provided that where at the time of receipt of advance,
The rate of tax is not determinable, the tax shall be paid at the rate of 18%;
The nature of supply is not determinable, the same shall be treated as inter-state supply

11. Tax Invoice v/s. Bill of Supply
Who has to issue ?
Taxable supplier who is supplying Taxable goods or Taxable services .
Supplier of exempted goods or services and composition tax.
When need to be issued?
Need not issue a tax invoice if value of the goods or services supplied is less than 200/- and recipient is unregistered. (Need to prepare one aggregate invoice for each day)
Need to issue a bill of supply if the value of the goods or services supplied is less than 200/-. (Need to prepare one aggregate BOS for each day )
Can input tax claimed ?
Input tax credit ( ITC ) can be claimed based on Tax Invoice
Input tax credit ( ITC ) cannot be claimed based on ‘Bill of Supply’.

12. Particulars that are common under Tax Invoice, Credit Note, Debit Note, Bill of Supply, Receipt Voucher, Refund Voucher, Payment Voucher, Tax invoice in special cases
Name, address and GSTIN of the supplier;
Date of its issue;
A consecutive serial number not exceeding sixteen characters, in one or multiple series, containing aplhabets or numerals or special characters hyphen or dash and slash symbolized as ”_” and “/” respectively, and any combination thereof, unique for a financial year;
Name, address and GSTIN or UIN, if registered, of the recipient;
HSN code of goods Accounting Code of Services;
Description of goods or services;
Rate of Tax;
Signature or digital signature of the supplier or his authorized signatory

13. Rectification of error in invoice
Credit Note
Will be issued in case of decrease
in taxable value and decrease in tax rate or in case of goods returned
Debit Note
Will be issued in case of increase in taxable value and increase in tax rate
Revised Invoice
Will be issued for correcting clerical or typographical errors

14. RETURNS under various Acts

15. Returns under GST
The taxpayer would need to submit periodical returns to both the Central GST authority and to the concerned State GST authorities.
ITC credit can also be verified on the basis of the returns filed and revenues reconciled against Challan data from banks.
Common standardized return for all taxes (with different account heads for CGST, SGST, IGST) can come into picture.
Common standardized Challan for all taxes (with different account heads for CGST, SGST, IGST) can come into picture.

16. Returns Under Goods And Services Tax
GST is a self-assessed destination based taxation system. The submission and processing of return is an important link between the taxpayer and tax administration.
Who Needs to File Return in GST Regime?
Every registered dealer is required to file return for the prescribed tax period. A return needs to be filed even if there is no business activity (i.e. nil return) during the relevant tax period.
Government entities / PSUs , etc. not dealing in GST supplies or persons exclusively dealing in exempted / nil rated / non-GST goods or services would neither be required to obtain registration nor required to file returns under the GST law. 
However, state tax authorities may assign departmental ID to such government departments / PSUs / other persons and will ask the suppliers to quote this ID in the supply invoices for all inter-state purchases being made to them.

17. Who needs to file Return in GST regime? Every registered dealer
is required to file return for the prescribed tax period.
Nil Return
A Return needs to be filed even if there is no business activity during the said period of return.
No Registration & no Returns
for persons exclusively dealing in Exempted / Nil-rated or Non-GST goods or
Services. (Govt Entities/PSU)
Normal / Regular Tax payer
Casual Taxable Person
Non Resident Taxable person
Input Service Distributor
Person required to deduct tax at source
E-commerce operator required to collect tax at source
Person registered as composition tax payer
Persons having unique identity number

18. Salient features of GST Returns
Filing of returns would only be through online mode. Facility of offline generation and preparation of returns will also be available. The returns prepared in the offline mode will have to be uploaded and filed online.
There will be a common e-return for CGST, SGST, IGST and Additional Tax.
A registered Tax Payer shall file GST Return at GST Common Portal either by himself or through his authorised representative.
There would be no revision of returns. Any changes required should be done in subsequent returns.
GST is a self-assessed destination based taxation system.
GST is based on transaction wise i.e. need to give bill wise details relating to sales and purchases relating to goods and invoice-wise details relating to services.
System is so designed that the Input Tax Credit will be matched automatically.
Input Tax Credit which is unmatched will be auto-reversed.

19. RETURNS UNDER GST AND THEIR DUE DATES
Sr. No
FORM
PARTICULARS
DUE DATE 1
GSTR 1
Statement of Outward supplies
10th of next month 1a
GSTR 1A
Details of inward supplies accepted, rejected, deferred, corrected by recipient 2
GSTR 2
Statement of Inward Supplies
15th of next month 2a
GSTR 2A
Details of outward supplies by suppliers will be available in GSTR 2A
Part A : Supplies by Regular tax payers
Part B : Supplies by Input Service Distributors
Part C : Details of Tax deducted at source
Part D : Details of Tax collected at source 3
GSTR 3
Monthly Return
Part A: Details of GSTR 1 & 2 – auto populated
Part B: Tax liability - Cash/Credit ledger
20th of next month

20. RETURNS UNDER GST AND THEIR DUE DATES
SR. NO.
FORM
PARTICULARS
DUE DATE 3a
GSTR 3A
Notice to non fillers (Monthly return /Final return) 4
GSTR 4
Composition Dealer – Quarterly return
18th of next month to quarter 4a
GSTR 4A
Details of inward supplies to composition dealer 5
GSTR 5
Return by Non resident taxable person
20th of next month or 7th day after expiry of registration, whichever is earlier 6
GSTR 6
ISD - details of credit received and those issued
15th of next month 6a
GSTR 6A
Details of inward supplies to ISD

21. RETURNS UNDER GST AND THEIR DUE DATES
SR. NO.
FORM
PARTICULARS
DUE DATE 7
GSTR 7
Return by person required to deduct tax at source
10th of next month 7a
GSTR 7A
TDS certificate 8
GSTR 8
Return by e-commerce operator– TCS 9
GSTR 9
Annual return by registered taxable person
31st December of next FY 9a
GSTR 9A
Annual return by composition dealers 9b
GSTR 9B
Audited annual account & reconciliation statement (duly certified by CA/ICWA) 10
GSTR 10
Final Return
3 months from date of cancellation 11
GSTR 11
Details of inward supplies by person having UIN

22. Process of Return Filing

23. Normal/ Regular Tax Payers
Normal / Regular taxpayers (including casual taxpayers) would have to file
GSTR-1 (details of outward supplies)
GSTR-2 (details of inward supplies) and
GSTR-3 (monthly Return) for each registration.
GSTR-9 (Annual return)
Normal / Regular taxpayers with multiple registrations (for business verticals) within a State would have to file GSTR-1, GSTR-2, GSTR-3 and GSTR-9 (Annual return) for each of the registrations separately.
A separate reconciliation statement, duly certified by a Chartered Accountant, will have to be filed by those taxpayers who are required to get their accounts audited under section 44AB of Income Tax Act 1961

25. Key components of GSTR-1 (Outward supplies by Tax payers u/s 37)
Basic details of the Taxpayer i.e. Name along with GSTIN
Period to which the Return pertains
Gross Turnover of the Taxpayer in the previous Financial Year. This information would be submitted by the taxpayers only in the first year and will be auto-populated in subsequent years.
Final invoice-level supply information pertaining to the tax period separately for goods and services which has to be submitted as follows:
For all inter-state B2For all B2B supplies (whether inter-state or intra-state) invoice level specified details will be uploaded.
C supplies – invoice level details to be uploaded for invoices whose value is more than INR 2,50,000. For invoices below this value, state-wise summary of supply statement shall be filed.

26. Key components of GSTR-1 (Outward supplies by Tax payers u/s 37)
The consolidated details of all can be submitted in the following situation
For intrastate B2C supplies consolidation for each rate of tax to be given separately
For interstate B2C state-wise supplies consolidation for each rate of tax in case of invoices whose value is less than INR 25,0,000
Whatever the details have been uploaded shall be communicated to the recipient of the said supplies within the time and in the manner as may be prescribed. (GSTR 2A)
HSN Code – Mandatory for some tax payers based on the turnover in the preceding financial year and for some it is optional and the dealer may use HSN code irrespective of his turnover.

27. Key components of GSTR-1 (Outward supplies by Tax payers u/s 37)
Separate table for effecting modifications / correcting errors in the returns submitted earlier.
Revision / Rectification of original return - In case any outward supplies are not matched with the respective recipients’ return of inward supplies the return for outward supplies requires rectification the it will be allowed. Such rectification, however, is not permitted after filing of annual return or the return for the month of September of the following year whichever is earlier [u/s 32(3)]
In case of rectification the taxpayer shall pay the tax and interest, if any, in case there was a short payment of tax on account of such error, in the return to be furnished for such tax period.
Thus we can say that it is a sales register of goods and services.

28. Key components of GSTR-2 (Inward supplies u/s 38)
The information in GSTR-1 shall be auto-populated in concerned tables in GSTR- 2. The details mentioned can be verified / validate / modified / deleted by the taxpayer while filing GSTR-2.
All these details would be contained into Part A, B, C and D of FORM GSTR 2A.
The details of inwards supplies would be auto-populated in the Input Tax Credit (ITC) ledger on submission of GSTR-1 by the respective dealers.
In GST we would be able to check our data as per seller return (GSTR-1) so mismatch issue will be resolved easily.
Separate table for submitting details in relation to ITC received on an invoice on which partial credit has been availed earlier.

29. Key components of GSTR-2 (Inward supplies u/s 38)
The registered person shall specify the inward supplies in respect of which he is not eligible, either fully or partially, for input tax credit in GSTR-2 where such eligibility can be determined at the invoice level and shall also declare the quantum of ineligible input tax credit which is relatable to non-taxable supplies and cannot be determined at invoice level.
Separate table for ISD credit and TDS credit received by taxpayer.
Thus it is a comprehensive purchase register relating to purchase of services and goods.

30. Key components of GSTR-3 (Monthly Return u/s 39)
In GST return, maximum data of this return is auto populated from sales and purchase registers (GSTR-1 and GSTR-2). Only adjustment entries and challan information will enter after these entries.
Only details of payment of tax under various tax heads of CGST, SGST and IGST separately would be populated from the debit entry in credit/cash ledger.
Taxpayer will have the option of claiming refund of excess payment through the return for which appropriate field will be provided in the return form.
Details of ITC balance (CGST, SGST and IGST) at the end of the tax period will be auto-populated in the ITC ledger irrespective of mode of filing return.
Due Date - 20th of the next month

31. Key components of GSTR-5 (Return for Non-Resident u/s 39(5))
Key components of GSTR-4 (Quarterly Return for Compounding Dealers u/s 39(2))
This return is a quarterly return to be filled by the compounding dealer who is liable to pay tax u/s 10.
In this return, data will be automatically populated after filing of GSTR-1.
As per draft GST law, following assesses are liable to file return in this form:
whose turnover is less than ` 50 lakhs and there is no interstate transaction.
Due Date - 18th of the month next to quarter
Key components of GSTR-5 (Return for Non-Resident u/s 39(5))
This return is to be filed by a Non-Resident Foreign Taxpayer.
In this return HSN / SAC code should be mention because these will classify the transaction as a sales and purchase of goods and services
Due Date – 20th of next month or 7th day after expiry of registration, whichever is earlier.

32. Key components of GSTR-6 (Return for Input Service Distributor)
This return will be filed by the Input Service Distributors (ISD).
The details are given under provisions with regard to distribution of credit by Input Service Distributor
In this return form, input service distribution ledger will be maintained.
In this ledger, credit of CGST, SGST and IGST will be maintained separately for each tax amount.
Due Date - 13th of the next month
Key components of GSTR-7 (TDS Return u/s 39(3))
Tax deductor will be liable to file this TDS return.
This return form is almost similar to TDS return of income tax (26Q/24Q etc) as in this return deductee information and transaction information is mention with the related challan in which the TDS amount is paid to department.
Due Date - 10th of the next month

33. Key components of GSTR-9 (Annual Return u/s 44)
In this return the total annual return information will be matched by the department with the monthly /quarterly return filled by the assessee.
It is a detailed return and captures details of all income and expenditure of the taxpayer and regroups them in accordance with the monthly returns.
In this return auditors information will submitted. It is to be submitted along with the audited copies of the Annual Accounts.
A separate reconciliation statement (u/s 44(2)), duly certified by a Chartered Accountant, will have to be filed by those taxpayers who are required to get their accounts audited under section 44AB of Income Tax Act 1961.
Annual return (GSTR-9) (Annexure-IX) will be filed by all normal / regular taxpayers. It will be based on financial records. Compounding taxpayer will also file a simple annual return.
Due Date – 31st December of the next financial year.

34. Key Components of GSTR-10 (Final Return u/s 45)
First Return u/s 40
Every registered taxable person paying tax under the provisions of section 10 is required to file his first return as soon as he obtains his registration. Following points need to be considered:
Transaction to be reported
Consideration involved
a) Outward supplies
From date of liability to register till the end of month* when registration is granted
b) Inward supplies
From effective date of registration till end of month* when registration is granted
Key Components of GSTR-10 (Final Return u/s 45)
Every registered taxable person who applies for cancellation of registration shall furnish a final return along with the application for cancellation of registration in such form and in such manner as may be prescribed.
Due Date – Three months from date of cancellation or date of cancellation order whichever is earlier

35. Steps for Return Filing
Final GSTR-1 : Upload final GSTR-1 return form directly through the data entry at the GST Common Portal. The changes (in supply invoices) would be allowed, only on the basis of the details uploaded by the counter-party purchaser in GSTR-2, up to 20th of the month
Provisional GSTR-2 : GST Common Portal Network (GSTN) will auto-draft the provisional GSTR-2 of taxpayer based on supply invoice details reported by the supplier on a near real-time basis.
Purchasing taxpayer will accept / reject / modify such an auto drafted provisional GSTR-2.
Taxpayer will have an option to download his provisional purchase statement from the Portal or through Apps using APIs and update / modify it offline.
Taxpayer can add additional purchase invoice details in GSTR-2 which have not been uploaded by the supplier, provided:
Valid Receipt of
Invoice Goods

36. Steps for Return Filing
Option to reconcile inward supplies with their suppliers because :
1) All invoices are auto populated in ITC ledger and
2) To indicate full / partial eligibility of ITC.
Finalize their GSTR- 1, GSTR-2 through:
1) online facility at Common Portal or
2) GSTN compliant offline facility in their accounting applications.
Taxpayer will then pay the amount as shown in the draft GSTR-3 return generated automatically at the portal..
Taxpayer will debit the ITC ledger and cash ledger and mention the debit entry No. in the GSTR-3 return and would submit the same.
Final acknowledgement of receipt of return will be generated after submission and validation of data is completed.

37. Number of Returns TAXPAYER
TOTAL RETURNS
Regular registered Tax payer
3 returns * 12 months = 36
+ 1 Annual return = 1
Total = 37
Regular registered Tax payer with TDS & ISD
5 returns * 12 months = 60
+ 1 Annual return = 1
Total = 61
Regular registered Tax payer with TDS, TCS & ISD
6 returns * 12 months = 72
+1 Annual return = 1
Total = 73
To be filled for each state separately
through common single login
within 20 days of next month
with no provision for revision of return

38. Validity of Returns
If a return is filed without paying related tax, such return shall not be treated as a valid return and the ITC related to such supplies will not be allowed to the recipient [defined u/s 2(109)].
E – Return is allowed to be uploaded, even in case of short payment for the limited purpose of having the information about self assessed tax liability even though not paid. However, it will be treated as invalid return.
Any invalid return (including the one not supported by full payment) will merely be recorded with unique transaction ID, but not accepted in the system.
A registered taxable person shall not be allowed to furnish return for a tax period if return for any previous tax period has not been furnished by him.

39. Levy of Late Fees u/s 47
Any registered taxable person who fails to furnish the details of outward or inward supplies required under section 37 or section 38 or section 39, as the case may be, or returns required under section 44 or section 45 by the due date shall be liable to a late fee.
For Late filling of return, the following late fee shall be levied:
Defaulted Return
Late Fees
Return on Outward Details (Ref: Sec 37)
Rs. 100/- per day of delay
Maximum Rs. 5,000/-
Return on Inward Details (Ref: Sec 38)
same as above
Return on Input credit (Ref: Sec 39)
Final Return for prescribed three months (Sec 45)
Annual Return (Sec 44)
Maximum = 0.25% on Turnover in the State