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To start with, annual return is a statement of return which is required to be filed annually by each registered person (except few specified categories of persons) under GST giving summarized details of outward supply and taxes paid thereon, input tax credits claimed, taxes paid and refund claimed in the financial year in respect of which such monthly/quarterly returns are filed. This annual return has to be filed with the GSTN using form GSTR 9.
As per the GST law, an Electronic Commerce Operator is liable to collect taxes while making taxable sales on behalf of other suppliers. GST TCS provisions put into action w.e.f. 01-10-2018 by Notification 51/2018-Central Tax dated 13-9-2018.
Currently, the details of outward supplies are filed through GSTR 1 and in the new filing regime, the details of outward supplies will be part of Annexures of the Main Return will be populated. Here is the comparative analysis of details which are provided now and what will be needed in simplified GST returns.
Your GSTR 1 could have invoices uploaded on your recipients and you need to take actions on such invoices while filing GSTR 1 returns. Read to know more about missing invoices and how to take actions.
E-way Bill provisions are effective almost in all states for inter and intra-state transactions.