GST India Forum – Goods and Services Tax (GST) in India › Forums › Bare Law › Sec 40 – First return
- CA Ashish BadalaModeratorApril 14, 2017 at 2:49 PMPost count: 184Topics: 181
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Every registered person who has made outward supplies in the period between the date on which he became liable to registration till the date on which registration has been granted shall declare the same in the first return furnished by him after grant of registration.Priya MadrechaModeratorMay 23, 2017 at 12:28 PMPost count: 280Topics: 4
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First Return – After obtaining registration, the taxable person is required to file his very first return. This section provides for the aspects that need to be considered while filing this first return, namely:
Transaction to be reported Consideration involved
Outward supplies From date on which he becomes liable to get registered till the date on which registration is granted
Q1. From when do the first returns needs to be filed by taxable person in respect of outwards supplies?
Ans. First returns of outwards supplies needs to be filed from the date on which he became liable to registration till the end of the month in which the registration has been granted.
Q2. From when do the first returns needs to be filed by taxable person in respect of inward supplies?
Ans. First return of inward supplies needs to be filed from the effective date of registration till the end of the month in which the registration has been granted
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