The new GST return filing system is now revamped in many ways. In this article, we will discuss about the amendments which might not attract our attention immediately such as HSN summary, advances received, non-GST supply details, details relating to e-commerce supplies, TDS, TCS, and more.
The table below shows a comparison between the newly-launched return system and the old or current return system:
|Old/Current Return Filing System||New Return Filing System|
|HSN Reporting||Till now, HSN-level data was not needed to be disclosed for every invoice. But, Central Tax notification number 12/2017 dated 28-06-2017 needed disclosure of HSN data as follows:
– Annual turnover in previous FY up to Rs 1 crore: No HSN needed
– Annual turnover in previous FY which is between Rs 1 crore and Rs 5 crore: HSN of 2 digits
– Annual turnover in previous FY over Rs 5 crore: HSN of 4 digits.
The Annual Return (Form GSTR 9) also has a section in Table 17, which gives an HSN-wise summary of outward supplies. Likewise, a summary of inward supplies is also to be reported in Table 18, only when turnover under a specific HSN code goes over by 10%.
|Suppliers having annual aggregate turnover over Rs. 5 crore relative to exports, imports and SEZ supplies have to upload HSN-level data of 6 digits. All other suppliers can declare HSN optionally. Nevertheless, notification number 12/2017-Central Tax dated 28-06-2017 remains effective till cancelled by CBIC. The reporting as per GSTR-9 would continue till further changes are notified.|
|Exempt, Nil-rated and Non-GST Supplies||The reporting of the Nil-rated supplies, which are exempted and non-GST outward supplies were earlier done in Table 8A, 8B, 8C and 8D of GSTR-1 and also in Table 3.1(b),(c) and (d) of GSTR-3B.||Table 3D(1) and (2) of RET-1 enables reporting of particular supplies which are exempted from tax payment or are nil-rated, and supplies are made, but which are not encompassed under GST law (non-GST supplies) respectively. The form ANX-1 would not have any provision for reporting of this.
In addition, Table 3D (2) of RET-1 includes supplies made which come under Schedule III -activities which are neither supply of goods or services.
|Advances Received||1. Table 11A(1) & Table 11A(2) of Form GSTR-1 was earlier utilised for reporting of details such as intrastate and interstate transactions which involved tax liability at the time of receipt, respectively. Thus, advances that were received were stated in this table.
2. Table 11B(1) & 11B(2) of Form GSTR-1 was utilised for adding details like advance received in a previous period and then adjusting them against supplies stated in the current period.
|1. Table 3C(3) of RET-1 enables for reporting of advances received that were taxable when they are received. The same should be net of the issued refund vouchers. Additionally, the table can be utilised to make the adjustments regarding any wrong reporting of advances in a previous period.
2. Table 3C(4) of RET-1 enables for recording of invoices issued in the current period especially showing the advances received in a previous period on which tax was paid by a declaration in Table 3C(3) of that particular period.
|E-commerce supplies/TDS/TCS||1. While specifying details of large invoices (over Rs. 2.5 lakhs) regarding taxable inter-state supplies, Table 5 of Form GSTR-1 is utilised. In case the supplies were made using E-Commerce Operators (ECO) in this table, then the checkbox regarding the same has to be selected and the GSTIN of the E-Commerce Operator (ECO) has to be entered after that.||1. Table 3 (3A to 3L) of ANX-1 needs a declaration of several types of outward and inward supplies which are liable to reverse charge, any imports and any missing documents based on which some credit is claimed. Out of the supplies that have been declared in Table 3, the particulars of those supplies which were made using E-Commerce operators (who are needed to collect tax at source). There are some details that need to be given in Table 4, like GSTIN of ECO, the price of the supplies made, the price of supplies sent back, the net value of supplies and the total tax amount.|