Blogs

This post has been updated on 2o Aug, 2017.
Ever since the Form GSTR-3B format was released, the fundamental question which most of businesses have is ‘How can I capture the details of my Transitional ITC in Form GSTR-3B?’. With the extended dude date of 25th August, 2017, just a few days away, this questions seems to be one of the most concerned area for business in filing Form GSTR-3B. In this blog, we will be discussing on

In our previous blog How to File GSTR-2: Part 3, we understood the details required to be furnished in filing GSTR-2 table 5 . In this blog, we will discuss about GSTR-2 filing – Table 6 . In table 6 of GSTR-2, you need to furnish the details of debit notes, credit notes, and amendments of inward supplies details, already furnished in previous return.
 

GSTR-2 filing – Table 6

In our previous blog, we learnt about how to file GSTR-2 Part 10, where we discussed about furnishing details of ITC reversed in table 11 of GSTR-2. In this blog, we will discuss the details of addition and reduction in output tax amount for mismatch and other reasons.
 

Filing GSTR-2 -Table 12

In our previous blog ‘How to file GSTR-2 Part 11’, we discussed about filing GSTR-2 with addition and reduction in output tax amount due to mismatch and other reasons. In this blog, we will discuss about filing GSTR-2 HSN summary of inward supplies.
 

Filing GSTR-2 Table 13

In our series of blog on “How to File GSTR-2 Part 12”, we have discussed about the details required to be furnished in each of the tables in GSTR-2. Broadly, GSTR-2 consists of 13 tables, in which the details of inward supplies along with eligible ITC needs to be reported. Most of the details are required to be reported at invoice level and rate-wise. To know more about details to be furnished in each of the GSTR-2 tables, please click on the links shown below:
 

Table No

As we all are aware, GSTR 3B is due to be filed on the 20th of the subsequent month. For the month of November, the GSTR 3B filing date is the 20th of December, for the month of December, the GSTR 3B filing date will be 20th of January, 2018 and so on. In our previous blogs, we have dealt with how to file GSTR 3B returns, how to match the same with other GST returns, how to correct it and the penalties involved for not filing GSTR 3B.

As per the decisions taken in the 23rd GST Council meeting, taxpayers with an annual aggregate turnover up to INR 1.5 Crore can now avail themselves of the option of filing quarterly GSTR 1 returns, whereas those taxpayers with an annual aggregate turnover of more than INR 1.5 Crore will need to file monthly GSTR 1 returns. In accordance with this notification the GSTN portal has now introduced the functionality of allowing taxpayers choose the return filing periodicity for the GSTR 1 form – quarterly or monthly.
 

In order to make compliance easier for the small and medium businesses, it was decided to introduce the quarterly GST returns, in the 22nd GST Council meeting held on 10th November, 2017. The businesses with aggregate turnover of up to 1.5 crores are allowed to opt for quarterly returns. For July – September’17, the last date to file the quarterly GSTR-1 returns is 10th January, 2018. To know more about GST Return filing due dates, please read Revised GST Return Dates – The Full Calendar
 

You have all been following Tally’s series of posts about GST. We recently posted our product roadmap and announced that Release 6.0 will be our GST-Ready Software!
We are pretty close to making our GST Ready software release, in line with the country’s imminent GST rollout.
Here is our detailed plan to make you GST-Ready with Tally:

With the introduction of the GST Act, if your business needs HSN/SAC codes and tax rates, you can set these details easily using our GST-ready software, Tally.ERP 9 Release 6. With this, you have the flexibility to configure GST rates and HSN/SAC codes at any level based on your business and reporting needs.
As per the GST Act, based on your yearly turnover and type of business, you need to print HSN/SAC code on invoices and reporting as per the table below:

Business Type

No. of Digits of HSN Codes

Less Than 1.5 Cr (yearly)

Not Required