Gst return for exempted corporation

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This query is : Resolved

himanshu nagal (Querist)

08 June 2018 As our Corp is providing 100% exempted Services and we have GST Registration as well. whether we need to file GST Return for Outward Supply and Input Services received.

CA Padmasri Manyam

CA Padmasri Manyam (Expert)

08 June 2018 The person exclusively engaged in supply of exempted goods or services is not liable to take registration under GST as per Section 23 of CGST Act.
In case the person has taken voluntary registration, all the provisions under the law would be applicable to him. Therefore, he has to file the returns as prescribed under law. Accordingly, you need to file nil returns.
if there is no taxable turnover, you can cancel the registration certificate. But till the date of cancellation of GST registration certificate you need to comply with law.

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himanshu nagal

himanshu nagal (Querist)

08 June 2018 We are filing Nil Return for outward Services provided. Whether we have to file GSTR 2 for Taxable Services Received as we are not eligible for any Input Tax Credit.
Further, we are charging the expenditure in our P&L account inclusive of Input GST (CGST+SGST), is it according to GST provisions or we would charge it on basic value and claim ITC Credit as an expense seperately.

himanshu nagal

himanshu nagal (Querist)

08 June 2018 We are filing Nil Return for outward Services provided. Whether we have to file GSTR 2 for Taxable Services Received as we are not eligible for any Input Tax Credit. Further, we are charging the expenditure in our P&L account inclusive of Input GST (CGST+SGST), is it according to GST provisions or we would charge it on basic value and claim ITC Credit as an expense seperately.

CA Padmasri Manyam

CA Padmasri Manyam (Expert)

08 June 2018 Curretnly GSTR-2 is not notified. There is no requirement to account ineligible input tax credit under separate expense head. You can account the ineligible input tax credit under respective expense head.
You need to file GSTR-3B containing the details of credit. mention total input tax credit amount in Table 4 - ineligible input tax credit. Easy way to get such information is from your GSTR-2A. take the total input tax credit from 2A and enter in GSTR-3B.

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