1. Importance of last returns & documentations
GST
Transitional Provisions
Existing IDT
By CA Vasant K. Bhat
Hiregange & Associates

2. GST Last Returns Existing IDT What is last return?
Why is it so important?
Safeguard Credit
To discharge Tax Liabilities
If last 6 months returns not filed, no c/f of credit u/s 140
What are the returns to be filed?
VAT/CST – due date ?
Service Tax - due date ?
Central Excise – ?
Existing IDT
Hiregange & Associates

3. GST Excise Return Existing IDT Important Factors in Excise Return:
Get all the invoices for purchases upto return period to claim cenvat
Ensure total eligible Cenvat Credit on inputs for the period upto (?) is correctly taken
Ensure total eligible Cenvat Credit on capital goods for the above period is correctly taken and so also balance credit
Reconcile GRN with PO and Books of accounts
Check for all the eligible Cenvat Credit of input services
Utilise the Cenvat Credit and then pay in PLA
Balance in PLA???
GST
Existing IDT
Hiregange & Associates

4. GST Service TAX Return Existing IDT
Important Factors in Service Tax Return:
Get all the invoices for input/CG/Input services upto return period to claim cenvat
Ensure total eligible Cenvat Credit for the period upto (?) is correctly taken
Ensure total eligible Cenvat Credit on capital goods for the above period is correctly taken and so also balance credit
Reconcile the credit and Books of accounts
Check for abatement, more importantly RCM
Pay liability on RCM on the last day of the month and take credit
Check the computation under Rule 6 of CCR
If excess service tax paid??
GST
Existing IDT
Hiregange & Associates

5. GST VAT/CST Returns Existing IDT Important Factors in VAT/CST Returns:
Check the suppliers status in Mahavat website to the extent possible – Non filers, cancelled regn, hawala dealers etc
Get all the invoices for purchases upto return period and account it
Ensure total eligible set-off on inputs up to to (?) is correctly taken
Ensure total eligible set-off on capital goods for the above period is correctly taken
Rule 53 of the MVAT Rule
Rule 54 of the MVAT Rule
Mention correct TIN of all the suppliers and customers for proper matching
GST
Existing IDT
Hiregange & Associates

6. GST REVISED RETURNS Existing IDT Due Dates:
Excise Return – due date (?)
Service Tax Return – 90 days
VAT/CST Returns –
Implication of revised returns: sec 142(9)
- If any amount found recoverable – arrears of tax under GST
If Cenvat credit found inadmissible – arrears of tax under GST
Recovered amount not eligible as credit
If amount found refundable – Refund in Cash*
If Cenvat credit found to be admissible – Refund in Cash*
*Subject to unjust enrichment
If the input/input services received after the AD but Duty/Tax paid under existing law?
GST
Existing IDT
Hiregange & Associates

7. GST DOCUMENTS IN GST Existing IDT
Tax Invoice – Taxable Supply, RCM, URD, Stock Transfer
Revised Invoice – Timely registration
Bill of Supply – Exempted, Composition
Receipt Voucher – Advance Receipt
Refund Voucher – Refund of Advance
Payment Voucher – RCM, URD
Debit Note
Credit Note
GST
Existing IDT
Hiregange & Associates

8. DOCUMENTS IN GST – Tax Invoice Sec 31
Goods :
GST
Tax Invoice
Whether movement of goods?
Before or at the time of Delivery of the goods/ making goods available No
Yes
Before or at the time of removal of goods
Existing IDT
Govt may specify the time limit & manner in certain cases
Hiregange & Associates

9. DOCUMENTS IN GST – Tax Invoice Sec 31
Services :
GST
On or before provision service, but within specified period
Govt may specify any other document instead Invoice or where no Invoice is required to be issued
Continuous Contracts:
Where due date for pyt is ascertainable – on or before due date
Otherwise on or before recpt of pyt.
Where pyt is linked to completion of an event – on or before the event
Where supply ceases in between – time when supply ceases
Existing IDT
Hiregange & Associates

10. DOCUMENTS IN GST – Tax Invoice
Contents of the Invoice:
Address of delivery, alongwith name of the state and its code where recipient is UR and value of taxable supply is Rs. 50,000 or more
Place of supply with the name of the state – in case of inter-state supply
Whether tax is payable under RCM
In case of Export Invoices:
Invoice should carry an endorsement –
“Export on payment of IGST” or
“Export under bond without payment of IGST”
GST
Existing IDT
Hiregange & Associates

11. DOCUMENTS IN GST – Tax Invoice
Supply of goods
Original for recipient
Duplicate for transporter
Triplicate for supplier
Supply of service
Duplicate for supplier
GST
Existing IDT
Hiregange & Associates

12. GST DOCUMENTS IN GST – Accounts & Records Existing IDT
Every Registered person, at his Principal Place of Business;
Production or manufacture of goods
Inward and outward supplies
Stock of goods
ITC availed
Output tax payable and paid
Such other particulars
Where more than one POB, accounts related to each POB at such POB
Commissioner may notify if any additional accounts or documents are to be maintained in certain cases.
GST
Existing IDT
Hiregange & Associates

13. GST DOCUMENTS IN GST – Accounts & Records Existing IDT
Period of Retention of Books and records:
72 months from due date of filing the Annual Return ( ie 31st Dec.)
In case of any Appeal, Revision, or any proceedings involved – One year after the final disposal or expiry of 72 months whichever is later.
If the turnover exceeds specified limit – Audit
Submit - Audited Annual Accounts
Reconciliation Statement
Such other documents as may be prescribed
GST
Existing IDT
Hiregange & Associates

14. GST Various Documents Formats to be kept Ready Existing IDT
1. Invoice format for supply of goods / service.
2. Stock Transfer format for inter state stock transfer.
3. Stock transfer note for within state stock transfer.
4. Document to be accompanied with distribution of free samples.
5. Documentation to be accompanied with free gifts.
6. Stock transfer note for damaged/destruction goods.
7. Credit Note format
8. Debit Note format
9. Sale Return Format
10. Revised Purchase/service Order Format
GST
Existing IDT
Hiregange & Associates

15. GST Various Documents Formats to be kept Ready Existing IDT
11. Receipt voucher to be issued at the time of advance.
12. Invoice format for recipient for supply received from unregistered person and liable under reverse charge.
13. Invoice format for recipient for supply received and liable under reverse charge
14. Bill of supply (if any exempted goods/service provided)
15. ISD Invoice
16. Payment voucher
17. Way bill
18. Delivery Challan Format
GST
Existing IDT
Hiregange & Associates

16. GST
Existing IDT

17. GST CA Vasant K. Bhat Existing IDT vasant.bhat@hiregange.com

18. Hiregange & Associates
Our Presence
Hiregange & Associates
Gurugram
509, Vipul Trade Centre, Sohna Road, Sector 48, Gurugram, Tel:
Vishakhapatnam
Sai Sree Kesav Vihar, Flat No.101,
D.No , CBM Compound, Visakhapatnam – Tel
Mob:
Hyderabad
“Basheer Villa”, HN /1/16/12 2nd Floor, Sriniketan Colony, Road No.3, Banjara Hills, Hyderabad –
Tele Fax
Mumbai
No.409, Filix, Opp. Asian Paints,
LBS Marg, Bhandup West,
Mumbai
Tel , ,
Mobile:
Pune
Rajyog Creations Apartment,  Flat No. 5, IV Floor, Anand Park,  Above HDFC Bank, Aundh,  Pune Phone: /  
Bengaluru (HO)
1010, 1 st Floor, 26 th Main, (Above Corporation Bank) 4th T Block, Jayanagar,
Bangalore
Tel:
Gurugram
Mumbai
Vizag
Pune
Hyderabad
Bengaluru
Chennai
Chennai
T3, Aman Sindhur
Pantheon Road, Egmore,
Chennai –
Mob:
Private & Confidential
Hiregange & Associates