Daily Archives: August 19, 2017

Who are not required to File GSTR 3B

By | August 19, 2017

Attention Taxpayers, GSTR 3B return is not to be filed by Input Service Distributor(ISD), non-resident person, TCS, TDS& Composition Dealers Related Topic on GST Topic Click Link GST Acts  Central GST Act and States GST Acts GST Rules GST Rules  GST Forms GST Forms GST Rates GST Rates GST Notifications GST Act Notifications GST Circulars… Read More »

Category: GST

What are core fields in GST Registration ?

By | August 19, 2017

What are core fields while making Amendment under GST ?  Following fields of the registration application are called core fields. • Name of the Business, (Legal Name) if there is no change in PAN • Addition / Deletion of Stakeholders • Principal Place of Business (other than change in State) or Additional Place of Business… Read More »

Category: GST

How to ensure whether GSTR 1 is successful filed ?

By | August 19, 2017

What are communications received after successful filing of GSTR-1? a. Application Reference Number (ARN) gets generated on successful filing of GSTR-1. b. An SMS and email is also sent to the taxpayer on the Mobile Number and E mail ID of his primary authorised signatory.   Related GST FAQ GSTR 1 FAQ GSTR 2A FAQs… Read More »

Category: GST

Does a taxpayer need to electronically sign GSTR-1 after successful submission

By | August 19, 2017

 Does a taxpayer need to electronically sign GSTR-1 after successful submission of GSTR-1? Yes, a tax payer needs to electronically sign the GSTR-1 after successfully submitting it, otherwise GSTR-1 will be considered as not-filed. The successful submission freezes the GSTR-1 and no changes can be made by taxpayer thereafter.   Related GST FAQ GSTR 1… Read More »

Category: GST

Format for invoice number under GST laws

By | August 19, 2017

Is there any specified format for invoice number under GST laws? Yes, the invoice number has to be of maximum length of 16 characters and the allowable characters are alphanumeric and special characters of dash and slash.   Related GST FAQ GSTR 1 FAQ GSTR 2A FAQs GSTR 3B FAQ How to utilize GST Electronic… Read More »

Category: GST

Can GSTR 1 be modified ?

By | August 19, 2017

Until when can changes be made to the uploaded invoice details in GSTR 1 ? Taxpayers can modify/delete invoices any number of times till they submit the GSTR-1 of that particular tax period. The uploaded invoice details are in a draft version, and can be changed irrespective of due date until the GSTR-1 is submitted.… Read More »

Category: GST

What are Credit Notes in GST return ?

By | August 19, 2017

What are Credit Notes? Credit Note is a document issued against an invoice in cases where invoice was issued at a value higher than the actual value of goods and/or services provided or the invoice value is reduced due to post supply negotiations. This may also happen when the goods supplied are returned by the… Read More »

Category: GST

When to report Debit Notes in GST return ?

By | August 19, 2017

What are Debit Notes under GST ? A Debit Note is a document issued against an invoice in cases where the original invoice was issued at a value lower than the actual value of goods and/or services provided. It can also be issued in case of post supply price negotiations. The difference amount is accounted… Read More »

Category: GST

What are Debit Notes in GST Return ?

By | August 19, 2017

What are Debit Notes under GST ? A Debit Note is a document issued against an invoice in cases where the original invoice was issued at a value lower than the actual value of goods and/or services provided. It can also be issued in case of post supply price negotiations. The difference amount is accounted… Read More »

Category: GST

What is meant by B2C Supplies in GST Return ?

By | August 19, 2017

 What is meant by B2C Supplies? B2C Supply refers to supply transactions between a Registered Supplier and an Unregistered Buyer (Business-to-Consumer).   Related GST FAQ GSTR 1 FAQ GSTR 2A FAQs GSTR 3B FAQ How to utilize GST Electronic Cash and Input Tax Ledger GST FAQ on IT / ITES 150 GST FAQ’s Replied by… Read More »

Category: GST

What are B2B Supplies in GST Return ?

By | August 19, 2017

What are B2B Supplies? B2B Supply refers to supply transactions between registered taxable entities/persons (Business-to-Business supplies).   Related GST FAQ GSTR 1 FAQ GSTR 2A FAQs GSTR 3B FAQ How to utilize GST Electronic Cash and Input Tax Ledger GST FAQ on IT / ITES 150 GST FAQ’s Replied by Govt of India Tweet FAQs… Read More »

Category: GST

What are the pre-requisites for filing GSTR 1 ?

By | August 19, 2017

What are the pre-requisites for filing GSTR-1? Pre-requisites for filing GSTR-1 are: a. The taxpayer should be a registered taxpayer and should have an active GSTIN during the tax period for which GSTR-1 has to be furnished. b. The taxpayer should have valid login credentials (i.e., User ID and password) to login into GST Portal.… Read More »

Category: GST

GSTR 1 FAQ

By | August 19, 2017

  GSTR-1 1. What is GSTR-1? GSTR-1 is a monthly Statement of Outward Supplies to be furnished by all normal and casual registered taxpayers making outward supplies of goods and services or both and contains details of outward supplies of goods and services. 2. Who is required to file the GSTR-1? Every registered taxable person,… Read More »

GSTR-3B once filed can not be modified

By | August 19, 2017

 I have already filed GSTR-3B, but now I want to make some modifications. Can I file an amendment? GSTR-3B once filed cannot be revised. Adjustments, if any, has to be done subsequently when you file GSTR-1, 2 & 3 for the same tax period.   Related GST FAQ GSTR 3B FAQ GST FAQ on IT… Read More »

Category: GST

GSTR 3B FAQ

By | August 19, 2017

GSTR-3B 1. What is GSTR-3B? GSTR 3B is a simplified summary return and the purpose of the return is for taxpayers to declare their summary GST liabilities for the tax period and the discharge of these liabilities in a timely manner A normal taxpayer is required to file GSTR-1, 2, & 3 returns for every… Read More »

Transferring GST credit through Input Service Distributor not mandatory

By | August 19, 2017

Question 26: Is the requirement of transferring of credit through ISD mechanism mandatory? Answer: The ISD (Input Service Distributor)  provision under the CGST Act, 2017 is not mandatory. It only provides the manner of distribution of ITC wherever the business entity wishes to distribute the ITC as an Input Service Distributor. Related GST FAQ GST… Read More »

Category: GST

GST Liability if supplies made from multiple locations of supplier to recipient

By | August 19, 2017

Question 23: What is the tax liability (under GST)  in a scenario where supplies are made from multiple locations (in different States) of the supplier to the recipient under a single contract? Answer: Delivering services from various locations and integrated pricing for the contract as a whole is the norm in IT/ITES industry. Normally the… Read More »

Category: GST