The GST Council in its 23rd meeting came up with a range of new decisions which will lead to easing tax rates, compliance issues and further simplifying return filing process
All taxpayers would file return in FORM GSTR-3B along with payment of tax by 20th of the succeeding month till March, 2018. GSTR – 1 of August, September and October is to be Filled before 31st December 2017
Princeton Academy announces a 1 day practical workshop for error free return filing
Key Focus Area:
Issues related to Return Filing (3B Filing, GSTR 1, GSTR2, GSTR3, TRAN - 1)
Procedural Compliance issues
Issues relating to Transitional Provisions
Tax Administration related issues
23rd GST Council Meet Changes
Course Outline:
Monthly Return 3B Filing:
Tax on outward and reverse charge inward supplies
Outward taxable supplies (other than zero rated, nil rated and exempted)
Outward taxable supplies (zero rated )
Other outward supplies (Nil rated, exempted)
Non-GST outward supplies
Inter-state supplies made to
Unregistered Persons
Composition Taxable Persons
UIN holders
Calculate Eligible Input Tax Credit on
Import of goods
Import of services
Inward supplies liable to reverse charge (other than 1 & 2 above)
Inward supplies from ISD
All other ITC
ITC Reversed
As per Rule 42 & 43 of CGST/SGST rules
Others
Ineligible ITC
As per section 17(5)
Others
How to Set Off Liabilities
Interest & Late Fees
Exempt, NIL and Non-GST inward supplies
GSTR – 1 Filing:
B2B Invoices (Registered)
Enter invoices for
Deemed Exports
SEZ Supplies with Payment
SEZ Supplies without payment
B2C (Large) Invoices (Unregistered)
B2C (Others)
Credit / Debit Notes (Registered)
Credit / Debit Notes (Unregistered)
Exports Invoices
Nil Rated Supplies
Inter-state supplies to registered person
Inter-state supplies to unregistered person
Intra-state supplies to registered person
Intra-state supplies to unregistered person
Tax Liability (Advances Received)
Adjustment of Advances
HSN-wise summary of outward supplies
Documents issued during the tax period
GSTR – 2 Filing:
Auto Drafted GSTR 2A
B2B Invoices
Credit/Debit Notes
Amendments to B2B INVOICES
Amendments to Credit/Debit Notes
Input Service Distributor Credits
ISD Credits
TDS Credits
TDS Credits
TCS Credits
TCS Credits
GSTR-2 - Invoice Details
3,4A - Inward supplies received from Registered person including reverse charge supplies
5 - Import of Inputs/Capital goods and Supplies received from SEZ
4C - Import of service
6C - Debit/Credit Notes for supplies from registered person
4B - Inward supplies from an unregistered supplier
6C - Debit Notes/Credit Notes for Unregistered Supplier
GSTR-2 - Other Details
7 - Supplies from composition taxable person and other exempt/nil rated/non GST supplies
