Oct 14, 2017
359 Views
0 0

GST inward return: Form and manner of furnishing inward supplies

Written by

GST inward return

GST inward return article is mainly talks about the rules that are revised by the GST council.  Furthermore, to help the supplier for filing the inward supply of return. Under GST , the council has clearly stated the types and forms so required to file the return.  However, Only registered person has right to claim and filed for return under GST India. RULE-2 of GST Revised Return Rules deals with GST inward return.

Which FORM is applicable to file GST inward return supplies?

Rule2-Form and manner of furnishing details of inward supplies

Form(Electronically)

Content(with reference to section38 and 39 of GST act)

Basis of details contained in Part A, Part B, Part C and Part D of FORM GSTR-2A

Every registered person required to furnish the details of inward supplies of goods or services or both received during a tax period

FORM GSTR-2

Every registered person shall furnish the details, if any, required under sub-section (5) of section 38 electronically

FORM GSTR-2

If registered person eligible, either fully or partially, for input tax credit ,where such eligibility can be determined at the invoice level

 Part-A of FORM:

GSTR-2A,

GSTR-4A,

GSTR-6A

Details furnished by supplier to concern registered person after due date of filing of FORM GSTR-1

FORM GSTR-2 u/s 38

FORM GSTR-4 & 6 u/s 39

Details of inward supplies added, corrected or deleted by the registered person

FORM GSTR-1A

Such modification by registered person may or may not accept by supplier

(GSTR-1 shall stand amended to the extent of modifications accepted by Supplier)

(#) Invoice wise details of all

               i.     Inter-State as well as intra-State supplies made to registered persons; and

             ii.     Inter-State supplies with invoice value more than 2.5 lakh rupees made to unregistered persons

(##)consolidated details of all

              i.       Intra-State supplies made to unregistered persons for each rate of tax; and

            ii.       State wise inter-State supplies with invoice value up to 2.5 lakh rupees made to unregistered persons for each rate of tax

 

what are the procedure to follow for GST inward return?

RULE 2-Form and manner of furnishing details of inward supplies

(1) Thus every registered person required to furnish electronicaly

The details of inward supplies of goods or services or both received during a tax period under sub-section (2) of section 38 shall, on the basis of details contained in Part A, Part B, Part C and Part D of FORM GSTR-2A, prepare such details as specified in sub-section (1) of the said section and furnish the same in FORM GSTR-2 electronically through the Common Portal, either directly or from a Facilitation Centre notified by the Commissioner, after including therein details of such other inward supplies, if any, required to be furnished under sub-section (2) of section 38.

(2) Hence, every registered person shall furnish the details, if any, required under sub-section (5) of section 38 electronically in FORM GSTR-2.

(3) The registered person shall specify the inward supplies in respect of which he is not eligible, either fully or partially, for input tax credit in FORM GSTR-2 where such eligibility can be determined at the invoice level.

(4) The registered person shall declare the quantum of ineligible input tax credit on inward supplies which is relatable to non-taxable supplies or for purposes other than business and cannot be determined at the invoice level in FORM GSTR-2.

(5) Thus details of invoices furnished by an Input Service Distributor in his return in FORM GSTR-6 under rule 7 shall be made available to the recipient of credit in Part B of FORM GSTR -2A electronically through the Common Portal and the said recipient may include the same in FORM GSTR-2.

(6) However, the details of tax deducted at source furnished by the deductor under sub-section (3) of section 39 in FORM GSTR-7 shall be made available to the deductee in Part C of FORM GSTR-2A electronically through the Common Portal and the said deductee may include the same in FORM GSTR-2.

(7) Thus details of tax collected at source furnished by an e-commerce operator under section 52 in FORM GSTR-8 shall made available to the concern person in Part D of FORM GSTR – 2A electronically through the Common Portal and such taxable person may include the same in FORM GSTR-2.

(8) Thus details of inward supplies of goods or services or both furnished in Form GSTR-2 shall include, inter-alia-

(a) invoice wise details of all inter-State as well as intra-State supplies received from registered persons or unregistered persons;

(b) import of goods and services made; and

(c) debit and credit notes, if any, received from supplier.

For finding lawyers related to Corporate Affairs & Taxation, visit Nearlaw


Renuka is a Final Year LL.B. student at Siddharth College of Law. She has done her Bachelors in Banking & Insurance and has also completed her Masters in Business Management . She likes to participate in legal workshops and Moot Courts. Besides her interest in law, she has a keen aptitude for legal research and is good at putting her analysis into words.

Leave a Comment

Your email address will not be published. Required fields are marked *

Bitnami