GOODS AND SERVICES TAX RULES

GOODS AND SERVICES TAX RULES

GST returns

 GSTR_1, GSTR 1A, GSTR 2, GSTR2A, GSTR 3

Form GSTR 1

 Details of outward supplies of taxable goods and/or services effected.

Form GSTR-1A

 The details of inward supplies added, corrected or deleted by the recipient in his

Form GSTR 2 

 shall be made available to the supplier electronically in FORM GSTR-1A.

Form GSTR 2

.Details of inward supplies of taxable goods and/or services claiming input tax credit

Form GSTR 2A 

 Details of inward supplies made available to the recipient on the basis of FORM GSTR-1 furnished  by the supplier

Process:

1) Every Seller shall furnish details of outwards supplies of goods or services or both effected during a tax period on or before the 10day of the month succeeding the said tax period in  GSTR 1

2) The Details of the goods sold furnished by Supplier shall be made available electronically to the recipients in Part A of form 2A through the common Portal after the due date of filing of Form GSTR 1A

3) Every Recipient shall verify, validate, modify or delete, if required, the details received under form 2A relating to the supplies and credit or debit notes communicated to prepare the details of his inward supplies and credit or debit notes.

4) Every Recipient shall furnish, electronically, the details of inward supplies of taxable goods or services or both on which tax is payable after the tenth day but on or before the fifteenth day of the month succeeding the tax period in GSTR – 2 using the details of modified form 2A

5) The Details of inward supplies added, corrected or deleted by the recipient in his form GSTR-2 shall be made available to the supplier electronically in form GSTR – 1A through the common Portal.

6) Supplier who has been communicated the details pertaining to supplies in form GSTR – 1A, shall either accept or reject the details so communicated on or before 17day of the month succeeding the said tax period.

6a) If form 1A accepted by Supplier, form GSTR1 furnished earlier by the supplier shall stand amended to the extent of modifications accepted by him.

6b) If form 1A rejected by Supplier, then recipient have to pay tax and interest arise due to such unacceptance.

7) Based on Amended GSTR 1 and GSTR 2, GSTR 3 will be furnished before end of 20^th day of succeeding month by both seller and recipient and have to pay due tax also before end of 20^th day of succeeding month.