Sec 37 – Furnishing details of outward supplies

You are here :Home>Bare Law>Sec 37 – Furnishing details of outward supplies
Sec 37 – Furnishing details of outward supplies 2017-04-14T14:46:25+00:00

GST India Forum – Goods and Services Tax (GST) in India Forums Bare Law Sec 37 – Furnishing details of outward supplies

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • Ashish BadalaCA Ashish Badala
    Moderator
    Post count: 184
    Topics: 181
    Replies: 3
    Been thanked: 5 times
    #1480 |

    (1) Every registered person, other than an Input Service Distributor, a non-resident taxable person and a person paying tax under the provisions of section 10 or section 51 or section 52, shall furnish, electronically, in such form and manner as may be prescribed, the details of outward supplies of goods or services or both effected during a tax period on or before the tenth day of the month succeeding the said tax period and such details shall be communicated to the recipient of the said supplies within such time and in such manner as may be prescribed.
    Provided that the registered person shall not be allowed to furnish the details of outward supplies during the period from the eleventh day to the fifteenth day of the month succeeding the tax period.
    Provided further that the Commissioner may, for reasons to be recorded in writing, by notification, extend the time limit for furnishing such details for such class of taxable persons as may be specified therein:
    Provided also that any extension of time limit notified by the Commissioner of State tax or Commissioner of Union territory tax shall be deemed to be notified by the Commissioner.
    (2) Every registered person who has been communicated the details under sub-section (3) of section 38 or the details pertaining to inward supplies of Input Service Distributor under sub-section (4) of section 38, shall either accept or reject the details so communicated, on or before the seventeenth day, but not before the fifteenth day, of the month succeeding the tax period and the details furnished by him under sub-section (1) shall stand amended accordingly.
    (3) Any registered person, who has furnished the details under sub-section (1) for any tax period and which have remained unmatched under section 42 or section 43, shall, upon discovery of any error or omission therein, rectify such error or omission in such manner as may be prescribed, and shall pay the tax and interest, if any, in case there is a short payment of tax on account of such error or omission, in the return to be furnished for such tax period.
    Provided that no rectification of error or omission in respect of the details furnished under sub-section (1) shall be allowed after furnishing of the return under section 39 for the month of September following the end of the financial year to which such details pertain, or furnishing of the relevant annual return, whichever is earlier.
    Explanation.–For the purposes of this Chapter, the expression “details of outward supplies” shall include details of invoices, debit notes, credit notes and revised invoices issued in relation to outward supplies made during any tax period.

    Priya MadrechaPriya Madrecha
    Moderator
    Post count: 280
    Topics: 4
    Replies: 276
    Been thanked: 1 time

    37.1    Introduction
    This provision relates to furnishing of details of outward supplies by the supplier
    37.2    Analysis
    (a)    A return of Outward supplies under this Section should be furnished by every registered              taxable person except for the following persons namely
    —     Input service distributor
    —     A non-resident taxable person
    —     A person paying tax under the provisions of section 10 (composition levy)
    —     A person paying tax under the provisions of section 51 (TDS)
    —     A person paying tax under the provisions of section 52 (TCS)
    (b)    The “Details of outward supplies” shall include details of Invoices, debit notes, credit notes and revised invoices issued in relation to outward supplies made during any tax period. This e-return shall be filed within 10 days from the end of the tax period in FORM GSTR-1
    (c)    Such returns shall be for supply of goods or services or both as effected during a tax period and shall be filed electronically
    (d)    The registered person shall not be allowed to furnish any details of outward supplies during the period from the eleventh day to the fifteenth day of the month succeeding the tax period. This implies that the filing portal may not be available for the person filing the return of outward supplies during the above said dates.
    (e)    In case of late filing of the above details, the person who defaults shall pay a sum of rupees One hundred for every day of continuing default subject to a maximum to Rupees five thousand only
    (f)    The Commissioner is empowered to notify any extension of due date of filing, for any class of persons, beyond the tenth of the succeeding month, with reasons to be recorded in writing
    (g)    The present process of return filing envisages that the recipient of the supply shall be Provided an opportunity to accept, reject, amend or delete the details in a two-way communication process. The details Provided by the supplier shall be auto – populated and available electronically to the recipient, for matching purposes, in a FORM GSTR2A
    (h)    In case any error or omission is discovered in the course of matching as specified in the Act and discussed under Section 42 and 43, rectifications of the same shall be effected
    and tax and interest, if any as applicable shall be paid on such corrections by the person responsible for filing the return of outward supplies
    (i)    Such rectification, however, is not permitted after filing of annual return or the return for the month of September of the following financial year to which the details pertain whichever is earlier.
    For example, let us say an entity has furnished the annual returns for the year 2018-19 on August 15, 2019. An error is discovered in respect of a transaction pertaining to July 2018. The entity has filed the returns for the month of September 2019 on October 18, 2019. In this above case, the rectification of the error pertaining to a transaction in July 2018 cannot be rectified beyond August 15, 2019
    Process and Formats for Filing of returns and the due date
    Activity     Due Date
    The return for outward supplies shall be filed in FORM GSTR–1     Before 10th day of the month succeeding the tax period
    The details of FORM GSTR-1 furnished by the supplier shall be made available to the recipients in PART-A of FORM GSTR-2A     11th to the 15th day of the month succeeding the tax period
    The FORM GSTR-2A shall be reviewed and modified by the recipient of the supply and based on the same a FORM GSTR-2 shall be filed by them. In case any outward supplies are not matched with the respective recipients’ return of inward supplies (discussed under section 38), the return for outward supplies requires rectification. All such modifications made by the recipient and filed in FORM GSTR-2, shall be made available to the outward supplier in FORM GSTR-1A.      Before end of 15th day of the month succeeding the tax period
    Accept or reject the details communicated by GSTN      Before end of 17th day of the month succeeding the tax period
    Submission of FORM GSTR-2 will cause auto-population of FORM GSTR-1A which shall be reviewed by the supplier and relevant corrections shall be effected in FORM GSTR-1 which will be the final details as filed.
    The supplier may either accept or reject the modification, deletion or inclusion made by the recipients on or before 17th day of the succeeding month. Such amendments shall be incorporated in the original details filled by the supplier. The revised details shall feature in the returns filed under Sec 39 in the FORM GSTR-3     Before end of 20th day of the month succeeding the tax period
    Components of valid GST Return for Outward Supplies made by the Taxpayer (FORM GSTR-1)
    This return form would capture the following information:
    1.    GSTIN
    2.    Name
    3.    Period to which the return pertains
    4.    Aggregate turnover of the taxpayer in the previous Financial Year. This information would be submitted by the taxpayers only in the first year and will be auto-populated in subsequent years.
    5.    The following particulars shall be furnished – at an invoice / consolidated level based on the table as below:
    Type     Supplies made to      Invoice Value      Level of submission
    Interstate     Registered Persons     Any      Invoice level
    Intrastate     Registered Persons     Any      Invoice level
    Interstate     Unregistered     Persons
    (stated as Consumer in the return)     > Rs 250,000     Invoice level

    Type     Supplies made to     Invoice Value     Level of submission
    Intrastate     Unregistered     Persons
    (stated as Consumer in the return)     Any     Consolidated
    Interstate     Unregistered     Persons
    (stated as Consumer in the return)     < Rs 250,000     Consolidated
    6.    There are separate tables as under:
    S No      Content of FORM GSTR-1
    5     Taxable outward supplies to a registered person at invoice level
    5A     Amendments to details of Outward Supplies to a registered person of earlier tax periods at invoice level
    6     Taxable outward supplies to a consumer where Place of Supply (State Code) is other than the State where supplier is located (Inter-state supplies) and Invoice value is more than Rs 2.5 lakh at invoice level
    6A     Amendments to above – 6 at invoice level
    7     Taxable outward supplies to consumer (Other than 6 above) at consolidated level where Table includes both inter-state supplies (invoice value below 2.5 lakhs) and intra-state supplies
    S No      Content of FORM GSTR-1
    7A     Amendment to 7 at consolidated level
    8     Details of Credit/Debit Notes showing reverse charge and non-reverse charge separately. This will include the details of Credit/Debit Note issued by the suppliers and the differential value impact and the associated tax payable or refund/tax credit sought. Information on Debit and Credit notes shall be submitted only if such documents are issued as a supplier.
    8A     Amendment to Details of Credit/Debit Notes of earlier tax periods
    9     Nil rated, Exempted and Non-GST outward supplies (nil and exempt if not furnished in 5,6 and 7) indicating separately interstate and intrastate for registered persons and consumers
    10     Supplies Exported (including deemed exports) with and without payment of GST
    10A     Amendment to Supplies Exported (including deemed exports)
    11     Tax liability arising on account of Time of Supply without issuance of Invoice in the same period
    11A     Amendment to Tax liability arising on account of Time of Supply without issuance of Invoice in the same tax period.
    12     Tax already paid (on advance receipt/ on account of time of supply) on invoices issued in the current period
    13     Supplies made through e-commerce portals of other companies
    Part-1 – Supplies made through e-commerce portals of other companies to Registered Taxable Persons
    Part-2 – Supplies made through e-commerce portals of other companies to Unregistered Persons
    Part-2A – Amendment to Supplies made through e-commerce portals of other companies to Unregistered Taxable Persons
    14     Invoices issued during the tax period including invoices issued in case of inward supplies received from unregistered persons liable for reverse charge
    Indication of HSN details
    It is proposed that in the return the description of goods and services may not be required to be submitted by the taxpayer as the same will be identified through the submission of HSN code for goods and Accounting Code for services.
    HSN code as specified below shall be furnished in FORM GSTR-1. In order to differentiate between the HSN code and the Service Accounting Code (SAC), the latter will be prefixed with “S”. The taxpayers who have turnover below the limit of Rs 1.5 Crore will have to mention the description of goods/service, as the case may be, wherever applicable.
    Category of taxable person and turnover in the preceding financial year      Any taxpayer, irrespective of his turnover, may use HSN code at 6- digit or 8-digit level if he so desires.
    Aggregate Turnover is < Rs 1.5 crores      HSN/SAC is not mandatory for taxable person whose aggregate turnover is less than 1.5 crores. (Hence, composition dealers may not be required to specify
    HSN at 2-digit level also.)
    For exports 8 digit HSN is mandatory
    Aggregate Turnover is Rs 1.5 to Rs 5 crores     HSN codes may be specified only at 2-digit chapter level as an optional exercise to start with. This would be mandatory from the second year of GST implementation
    For exports 8 digit HSN is mandatory
    SAC code is mandatory
    Aggregate Turnover is > Rs 5 crores     HSN – minimum of 4 digits – mandatory
    For exports 8 digit HSN is mandatory
    SAC code is mandatory
    All     exports     included     above categories      HSN Codes at 8-digit level

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.