Returns Process and matching of Input Tax Credit
- What is the purpose of returns?
- Who needs to file Return in GST regime?
- What type of outward supply details are to be filed in the return?
- Is the scanned copy of invoices to be uploaded along with GSTR-1?
- Whether all invoices will have to be uploaded?
- Whether description of each item in the invoice will have to be uploaded?
- Whether value for each transaction will have to be fed? What if no consideration?
- Can a recipient feed information in his GSTR-2 which has been missed by the supplier?
- Do the taxable person have to feed anything in the GSTR-2 or everything is auto-populated from GSTR-1?
- What if the invoices do not match? Whether ITC given or denied? If denied, what action is taken against supplier?
- What will be the legal position in regard to the reversed input tax credit if the supplier later realises the mistake and feeds the information?
- What is the special feature of GSTR-2?
- Whether the ITC denied can be restored?
- Do tax payers under the composition scheme also need to file GSTR-1 and GSTR-2?
- Do Input Service Distributors (ISDs) need to file separate statement of outward and inward supplies with their return?
- How does a taxpayer get the credit of the tax deducted at source on his behalf? Does he need to produce TDS certificate from the deductee to get the credit?
- Who all need to file Annual Return?
- Is an Annual Return and a Final Return one and the same?
- If a return has been filed, how can it be revised if some changes are required to be made?
- How can taxpayers file their returns?
- What all should a diligent taxpayer ensure for a hassle free compliance under GST?
- Is it compulsory for taxpayer to file return by himself?
- What is the consequence of not filing the return within the prescribed date?