19/06/2017
GST Council in its 17th meet held on June 18, 2017 in National capital, gave relaxation to file outward return for the month of July by September 5, 2017 instead of August 10, 2017 and for the month of August by September 20, 2017.
In this write-up, provisions of outward supply are being covered.
Introduction
As per section 2(83) “outward supply” in relation to a taxable person, means supply of goods or services or both, whether by sale, transfer, barter, exchange, licence, rental, lease or disposal or any other mode, made or agreed to be made by such person in the course or furtherance of business.
Provision related to furnishing of details of outward supplies
Time of furnishing of return [Section 37(1), Rule 1]
Every registered person (other than a person referred to in section 14 of the Integrated Goods and Services Tax Act, 2017) required to furnish the details of outward supplies of goods or services or both under section 37, shall furnish such details in FORM GSTR-1, on or before the tenth day* of the month succeeding the said tax period electronically through the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner.
| *GST council in its 17th meeting, gave relaxation to file the return for the month of July by September 5, 2017 instead of August 10, 2017 and for the month of August by 20thSeptember. |
Restriction on time period for furnishing of return
The registered person shall not be allowed to furnish the details of outward supplies during the period from the eleventh day to the fifteenth day of the month succeeding the tax period.
| Any extension of time limit notified by the Commissioner of State tax or Commissioner of Union territory tax shall be deemed to be notified by the Commissioner. |
Details of outward supplies to be included in form GSTR-1 (Rule 2)
The details of outward supplies of goods or services or both furnished in FORM GSTR- 1 shall include, inter alia,
(a) invoice wise details of all:
- inter-State and intra-State supplies made to registered persons; and
- inter-State supplies with invoice value more than two and a half lakh rupees made to unregistered persons;
(b) consolidated details of all:
- intra-State supplies made to unregistered persons for each rate of tax; and
- State wise inter-State supplies with invoice value upto two and a half lakh rupees made to unregistered persons for each rate of tax;
(c) debit and credit notes, if any, issued during the month for invoices issued previously.
Details of outward supplies to be communicated to recipient (Rule 3)
Details of outward supplies furnished by the supplier in FORM GSTR-1 shall be made available electronically to the concerned registered persons (recipients) in Part A of FORM GSTR-2A, in FORM GSTR-4A and in FORM GSTR-6A through the Common Portal after the due date of filing of FORM GSTR-1.
Rectification by supplier in Outward Return on the Basis of Inward Return [Section 37(2)]
Every registered person who has been communicated the details under sub-section (3) of section 38 or the details pertaining to inward supplies of Input Service Distributor under sub-section (4) of section 38, shall either accept or reject the details so communicated, on or before the seventeenth day, but not before the fifteenth day, of the month succeeding the tax period and the details furnished by him under sub-section (1) shall stand amended accordingly.
Rectification of error or omission [Section 37(3)]
Any registered person, who has furnished the details under sub-section (1) for any tax period and which have remained unmatched under section 42 or section 43, shall, upon discovery of any error or omission therein, rectify such error or omission as may be prescribed, and shall pay the tax and interest, if any, in case there is a short payment of tax on account of such error or omission, in the return to be furnished for such tax period.
Provided that no rectification of error or omission in respect of the details furnished under sub-section (1) shall be allowed after furnishing of the return under section 39 for the month of September following the end of the financial year to which such details pertain, or furnishing of the relevant annual return, whichever is earlier.
The details of inward supplies added, corrected or deleted by the recipient in his FORM GSTR-2 under section 38 or FORM GSTR-4 or FORM GSTR-6 under section 39 shall be made available to the supplier electronically in FORM GSTR-1A through the Common Portal and such supplier may either accept or reject the modifications made by the recipient and FORM GSTR-1 furnished earlier by the supplier shall stand amended to the extent of modifications accepted by him. (Rule 4)
| “Details of outward supplies” shall include details of invoices, debit notes, credit notes and revised invoices issued in relation to outward supplies made during any tax period. |
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The entire contents of this article is solely for information purpose and have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation.. It doesn’t constitute professional advice or a formal recommendation. The author has undertook utmost care to disseminate the true and correct view and doesn’t accept liability for any errors or omissions. You are kindly requested to verify & confirm the updates from the genuine sources before acting on any of the information’s provided herein above.
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About the author
HIMANSHU TIWARI
CHARTERED ACCOUNTANT
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