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Various Returns Under Model GST Law #pdf
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Various Returns under Model GST Law S.No. Name of the Returns Under Model GST Law Last date of Filing of returns and other details 1 Return for outward supplies (Section 25) 1. Every registered taxable person other than an input service distributor and a person paying tax under t he provisions of section 8 or section 37, shall furnis h electronically the details of outward supplies of g oods and/or services effected, which includes details re lating to zero-rated supplies, inter-state supplies, return o f goods received in relation to/ in pursuance of an inward supply, exports, debit notes, credit notes and supplementar y invoices issued, during a tax period on or before the 10 th day of the month succeeding the said tax period and such details shall be communicated to the recipient of the said supplies. For example, the return for the month of July shall be filled by 10th August. 2 Return for Inward supplies (Section 26) 1. Every registered taxable person other than an input service distributor and a person paying tax under t he provisions of section 8 or section 37, shall verify , validate, modify or, if required, delete the details relating to outward supplies and credit or debit notes communic ated under outward supply details to prepare the details of his inward supplies and credit or debit notes and may i nclude therein, the details of inward supplies and credit or debit notes received by him in respect of such supplies t hat have not been declared by the supplier. 2. Every registered taxable person shall furnish, electronically, the details of inward supplies of t axable goods and/or services, including inward supplies of services on which the tax is payable on reverse cha rge basis under this Act and inward supplies of goods a nd/or services taxable under the IGST Act, and credit or debit notes received in respect of such supplies during a tax period on or before the 15 th day of the month succeeding the tax period in such form and manner as may be prescribed. For example, the return of the month of July shall be filled by 15 th August. 3 Monthly Return (Section 27) 1. Every registered taxable person shall, for every ca lendar month or part thereof furnish a return electronical ly of inward and outward supplies of goods and/or service s, input tax credit availed, tax payable, tax paid and other particulars as may be prescribed within twenty days after the end of such month. 2. Every registered taxable person, who is required to furnish a monthly return, shall pay to the credit of the ap propriate Government the tax due as per such return not later than the last date on which he is required to furnish su ch return. 3. A monthly return furnished by a registered taxable person without payment of full tax due as per such return shall not be treated as a valid return for allowing input tax credit in respect of supplies made by such person. 4. Every registered taxable person shall furnish a mon thly return for every tax period, whether or not any sup plies of goods and/or services have been effected during suc h tax period. 4 Quarterly return under Composition Scheme A registered taxable person paying tax under the provisions of Composition Levy (Section 8) shall fu rnish a return for each quarter or part thereof, electronic ally, in such form and in such manner as may be prescribed, within eighteen days after the end of such quarter 5 TDS return Every registered taxable person who required to ded uct tax at source shall furnish a return, electronicall y, in such form and in such manner as may be prescribed, for t he month in which such deductions have been made along with the payment of tax so deducted, within ten days after the end of such month. 6 ISD Return Every Input Service Distributor shall, for every ca lendar month or part thereof, furnish a return, electronic ally, in such form and in such manner as may be prescribed, within thirteen days after the end of such month . 7 Annual Return (Section 30) Every registered taxable person, other than an inpu t service distributor, a deductor under section 37, a casual taxable person and a non-resident taxable person, s hall furnish an annual return for every financial year electronically on or before the 31 st day of December following the end of such financial year. Every taxable person who is required to get his acc ounts audited (under subsection (4) of section 42) shall furnish, electronically, the annual return along with the au dited copy of the annual accounts and a reconciliation statement, reconciling the value of supplies declar ed in the return furnished for the year with the audited annual financial statement, and such other particulars as may be prescribed. From : CA Rajesh Kumar Khandelwal Mob 9818595050 Email : RKCAMBALLB@GMAIL.COM




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