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  • Tax Matters: How many returns are to be filed under GST?

    Every taxable Person under the GST Law will be required to furnish an annual return in From GST R-9 before 31 December 31 December of the next financial year

    How many returns I am supposed to file under the goods and services tax (GST)?

    — D S Tejanai, e-mail

    Under GST, all registered taxable entities have to file three monthly returns and one annual return. So, in a year, a total 36 return and one annual return have to be filed. That is 37 returns. However, the process is not going to as cumbersome as it looks as most details will be auto populated. There are separate returns for a tax payer registered under the composition scheme, tax payer registered as an input service distributor and a person liable to deduct or collect tax.

    All returns are to be filed online. Returns can be filed using GSTN portal (www.gst.gov.in), offline utilities provided by GSTN or GST Suvidha Providers (GSPs). If you are using the services of enterprise resources planning (ERP) providers such as Tally, SAP and Oracle, there is likelihood that these ERP providers have provided in-built solutions in the existing ERP systems.

    In Form GST R-1, declare the details of all the outward supplies of goods and/or services effected in the month. Invoice-wise details of outward supplies to registered dealer and aggregate taxable value of supplies made to consumer are required to be declared. If the taxable value of supply made to a consumer is more than Rs 2.5 lakh and is an inter-state supply, declare invoice-wise details.

    On 11th of the month, the visibility of inward supplies is made available to the recipient in the auto populated Form GST
    R-2A. It is generated based on the outward supplies declared by the suppliers in Form GST R-1. The period from 11th to 15th will allow for any corrections (additions, modifications and deletion) in Form GST R-2A. Any omission or correction not reconciled, as per the statement in Form GST R-2A, with the inward suppliers’ registration, will impact the input tax credit eligibility. Any additional claim or correction, as per Form GST R-2A is to be submitted in Form GST R-2 by the 15th of the subsequent month.

    Based on the claim reported in Form GST R-2, ITC will be credited to the e-credit ledger on a provisional basis. It will be finalised post matching of invoice.

    The corrections (addition, modification and deletion) reported in Form GST R-2 will be made available to the supplier in Form GST R-1A. The supplier has to accept or reject the adjustments made by the customer by verifying with the supplier’s outward supply register.

    Based on Form GST R-1 and Form GST- R-2, an auto-populated return Form GST R-3 will be available on the 20th for submission along with the payment.

    After the due date of filing, the monthly return in Form GST R3, the inward supplies will be matched with the outward supplies furnished by the supplier. The final acceptance of input tax credit will be communicated in Form GST MIS-1. The claim of input tax credit will be considered as matched, if the amount of input tax credit claimed is equal to or less than the output tax paid on such tax invoice or debit note by the corresponding supplier.

    Also, any mismatch in input tax credit on account of excess claims or duplication claims will be communicated to the recipient in Form GST MIS-1 and to the supplier in Form GST MIS-2. Discrepancies not ratified will be added as output tax liability along with interest. However, the law provides a window of two months to ratify the discrepancies before reversing the ITC.

    Every taxable person under the GST law will be required to furnish an annual return in Form GST R-9 before 31 December of the next financial year.

    Since the last few days, there have been reports of linking Aadhaar card and the permanent account number (Pan) card and also of not linking them. I am confused. What is the latest development?

    — Tushar Daiya

    Section 139AA(1) of the Income Tax (IT) Act, 1961, as introduced by the Finance Act, 2017, provides for mandatory quoting of Aadhaar or enrolment ID of Aadhaar application form for filing of return of income and for making an application for allotment of Pan from 1 July 2017.

    Section 139AA(2) of the IT Act provides that every person who has been allotted Pan as on the 1st day of July 2017 and who is eligible to obtain Aadhaar has to intimate his Aadhaar on or before a date to be notified by the Central government. The proviso to Section 139AA (2) provides that in case of non-intimation of Aadhaar, the Pan allotted to the person is deemed to be invalid from a date to be notified by the Central government.

    In its landmark judgement, the Supreme Court (SC) has upheld Section 139AA of the IT Act, requiring quoting of the Aadhaar number in applying for Pan as well as for filing of IT return, as constitutionally valid.

    The SC has granted a partial stay on for the proviso to Section 139AA (2), pending resolution of the other cases before the larger bench of the SC. The SC has unequivocally stated the Pan card of those tax payers who are not Aadhaar card holders and do not comply with the provision of Section 139(2) be not treated as invalid for the time being. A person who is holder of Pan and if his Pan is invalidated, he is bound to suffer immensely in his day-to-day dealings. Such a situation should be avoided.

    The Central Board of Direct Taxes issued a press release on 10 June 2017, post the SC verdict, clarifying that from 1 July 2017, every person eligible to obtain Aadhaar must quote his Aadhaar number or the Aadhaar enrolment ID number for filing of IT return as well as to apply for Pan.

    Everyone who has been allotted Pan as on 1July 2017 and who has Aadhaar number or is eligible to obtain Aadhaar number has to intimate his Aadhaar number to income tax authorities for linking Pan with Aadhaar.

    Only a partial relief has been given by the SC to those who do not have Aadhaar and who do not wish to obtain Aadhaar for the time being. Their Pan will not be cancelled so that other consequences under the IT Act for failing to quote Pan will not arise.


    There are various dates and provisions for preserving books of accounts. Now, with the implementation of the goods and services tax (GST), what is the outer limit?

    — Shreshadri, email

    The period for which books of accounts are required to be retained under GST, as per Section 36 of the Central GST Act, 2017, is 72 months from the due date of filling of annual return of that year (i.e., 6.75 years) in normal circumstances.

    If appeal, revision or any other proceeding is pending before any appellate authority, tribunal or court, then the books are to be kept for one year after the final disposal of such appeal, revision or proceeding or for 72 months from due date of filing of annual return of that year, whichever is later. 


    I am a mutual fund distributor based in Surat. My commission income is approximately Rs 8 lakh. Hence, I need not get myself registered for goods and services tax (GST). Is my understanding correct?

    — Harsha Choksi, e-mail

    GST is applicable on intra- and inter-state transactions. Excise duty, service tax, value-added tax (Vat) or sales tax, surcharges, cess, entry tax, octroi, Local Body Tax (LBT) and luxury tax are to be subsumed into GST. For transaction within state (intra-state), Central GST (CGST) and state GST (SGST) are chargeable. For inter-state transactions, integrated GST (IGST) is chargeable. For transaction made within the Union territory (UT), UTGST is applicable.

    As per Section 22 (1) of CGST Act, every supplier is liable to be registered under the Act in the state or UT, other than special category states, from where he supplies taxable goods or services, or both, if his aggregate turnover in a financial year exceeds Rs 20 lakh. Further, Section 24 of the CGST Act states that notwithstanding anything contained in Section 22 (1), categories of persons required to be registered under the Act include those making any inter- state taxable supply, anyone dealing directly with asset management companies and those falling under Section 24 (i) of the CGST Act are compulsorily required to register under GST irrespective of the threshold limit of Rs 20 lakh.

    Thus, the Union government has exempted distributors earning less than Rs. 20 lakh from taking GST registration. However, if a distributor sells schemes of a fund that is based outside his home state, he has to take GST registration number. GST has to be paid from Re 1.

    Under Section 25 (1) of the CGST Act, 2017, every person liable to be registered under Section 22 or Section 24 has to apply for registration in every such state or UT in which he is so liable within 30 days from the date on which he becomes liable to registration. Form GST R-1 is a prescribed.

    If you are registered under excise, Vat or service tax, then you are mandatorily required to migrate to GST by way of provisional ID and password provided in your log-in of excise, Vat and service tax. For new registration, you need to visit https://www.gst.gov.in.

    Documents required for registration by sole proprietorship and individuals include permanent account number (Pan) card and ID proof, copy of cancelled cheque or bank statement and declaration to comply with the provisions.

    Registered office documents required include copy of electricity bill, landline telephone bill and water bill, a no-objection certificate from the owner and rent agreement if premises rented.

    AMCs are likely to deduct GST from the commission of the distributors who do not have GST registration number and pass it on to the government. This proposal has been recommended to the Association of Mutual Funds in India. Thus, you have to take registration if you are dealing in a fund based outside Gujarat.

    The replies are only in the nature of guidelines. The tax counsellors and the publication are not responsible for any decision taken by readers on the basis of the same. Readers may e-mail their queries on direct taxation to: tax-matters@capitalmarket.com

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Flash News 17-Jan-2019
  •  ( 16:24) Sensex, Nifty settle with small gains   
  •  ( 16:03) Market gains for third day in a row  
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  •  ( 08:15) Bank of India to raise funds by preferential issue of shares  
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17 January 2019 00:00
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