INCOME TAX AND GST

Module I
Clubbing of income
Sometimes the income of other person shall be included in the total
income of the assessee. Such practices included the income of the
other person to the income of the assessee is called clubbing of
incomes.
Following income are to be clubbed
 Transfer of income without transfer of assets.
 Revocable transfer of assets
 Income of spouse
 Income of daughter in law
 Income from business
 Income from minor child
 Income from assets transferred to a person for the benefits of his
sons wife
 Cross transfers
 Income from converted property
 Benami transactions
Aggregation of incomes
In computing total income of an assessee, the following incomes shall
be included
 Share of member from an AOP or BOI
 Cash credits
 Unrecorded and unexplained investments
 Unrecorded and unexplained money, gold etc.
 Unexplained expenditure
 Amount borrowed or repaid on hundi
Set off losses
Set off of losses refers adjusting of losses against income of the same
year.
Provisions for set off losses
 Intra head set off
It means set off losses against incomes from any sources under the
same head.
Exception to intra head set off
1) Loss from speculative business
Losses incurred on account of speculation can be set off against
speculation income. It cannot be set off against income from other
business.
2) Loss of specified business
Loss incurred on account of specified business u/s 35 AD can be set off
against specified business income. It cannot be set off against income
from any other business.
3) Long term capital loss
It can be set off against long term capital gain only. It cannot be set off
against short term capital gain.
4) Loss in business of owning and maintaining race horse
It can be set off against profits in business of owning and maintaining
race horse. It cannot be set off against any other income.
5) Loss from an exempted income
It cannot be set off against any other taxable income in the same head.

 Inter head set off

It means set off losses against income under other heads.
Exception to inter head set off
1) Loss from speculation business
It cannot be set off against any other heads of income. It can be set off
against speculation income of the assessee.
2) Loss of specified business
It cannot be set off against any other heads of income. It can be set off
against specified business income of the assessee.
3) Capital losses
Long term capital losses can be set off against long term capital gain
only. It cannot be set off against any other income.
Short capital loss can be set off against short term capital gain and long
term capital gain.
4) Loss in business of owning and maintaining horse race
It cannot be set off against any other heads of income of the assessee.
5) Loss under the heads of business or profession
It cannot be set off against income under the head salaries. It can be set
off against any other heads of income.
6) Loss of lottery, crossword puzzles, gambling etc.
It cannot be set off against any income.

Carry forward and set off losses

When loss cannot be set off in the same year in which it has been
incurred, it can be carried forward to the next year for set off. This is
known as carry forward and set off losses.
Following loses can be carry forward
 Business loss
 Loss of speculation business
 Loss of specified business
 Losses from firm
 Losses under the head house property
 Short term capital loses
 Long term capital losses
 Loss from activity of owing and maintaining race horses
Alternative minimum tax (AMT)
It is the minimum amount of tax payable by a person other than
company.
Security transaction tax (STT)
It is a tax levied at the time of buying and selling of securities inn a
recognized stock exchange.
Rebate and relief of tax
 Rebate of tax
While computing tax liability of an assessee, a rebate of income shall be
allowed in respect of certain incomes. It is deductible from tax.
Important rebate applicable to an assessee
 Rebate in respect of share of income from an AOP or BOI.
Rebate = share in AOP*Tax on total income
 Rebate when total income does not exceed Rs 3, 50,000.
Rebate= Rs 2500 or tax on total income, whichever is less
 Relief of tax
When an assessee receives an income during the year pertain to some
other years, he can claim relief u/s 89(1) of income tax.
Relief can be claimed in respect of following income
 Arrears of salary
 Advance salary
 Profit in lieu of salary
 Arrears of family pension
 Gratuity
 Lump sum from URPF
Total income
Total income means aggregate of different heads of income after
deducting deductions u/s 80 c to 80 u of income tax. It is a taxable
income of the assessee.
Steps in computation of total income of an individual
1. Determine the residential status of the individual.
2. Computation of income under different heads. (Income from salary,
income from house property, income from business or profession,
capital gain and income from other sources)
3. Deduction allowable from GTI should be deducted u/s 80 c to 80 u.
4. Total income is rounded off to the nearest multiple of rupees 10.
8089778065 (WhatsApp only) JUBAIR MAJEED
 INCOME TAX AND GST
Module II
Income tax authorities in India
 Central board of direct taxes
 Director general of income tax
 Director of income tax
 Additional director general of income tax
 Joint director of income tax
 Deputy director of income tax
 Assistant director of income tax
 Income tax officers
 Tax recovery officers
Central Board of Direct Taxes (CBDT)
It is the highest authority of income tax department. It makes rules and
issues instructions and directions to other income tax authorities.
General Powers and functions of income tax authorities
1. Power to call for information.
2. Power to requisition of books of Accounts.
3. Power to search and seizure.
4. Power regarding discovery of evidence.
5. Power to collect certain information.
6. Power to inspect company registers.
7. Power of survey.
8. Power to disposal of appeal.
Advance payment of tax
The assessee is required to pay tax on current income by installments
during the financial year itself is called advance payment of tax.
Tax deduction at source (TDS)
TDS is income tax reduced from the money paid at the time of making
specified payments by the person making such payments.
Incomes applicable to TDS
 Salaries
 Interest on securities
 Dividend
 Insurance commission
 Winning from lotteries
 Payment of NSS
Recovery of tax
The process of recovering arrears of tax, interest, penalty or any other
sum payable under the Act.
Modes of recovering tax
 Certificate to tax recovery officer
 Attachment of salary
 Garnishee order
 From a court
 Sale of movable property
 Recovery through state government
Income tax return
The statement in which the assessee disclose the details of his income
during the previous year is called income tax return.
Different kinds of income tax return (Essay)
1. Voluntary return
If a person files the return on his own according to Income Tax Act
before the due date is known as voluntary return.
2. Belated return
It is a return which is filed after the stipulated date mentioned in the
income tax rule.
3. Revised return
A person filed income tax return before due date but later on any
omission or wrong statement are found. The assessee can revise the
file again is known as revised return.
4. Return of loss
If a person is having negative income i.e.; losses are eligible for carry
forward for next years. Such loss can be used to reduce the tax liability
during current assessment year. This is known as return of loss.
5. Compulsory return
When a person files a return in response to the notice given by the
assessing officer is known as compulsory return.
6. Defective return
Where the assessing officer considers the return furnished by the
assessee is defective. He may give 15 days to rectify the defects. Such
return is called defective return.
Signing of the return
 Individual-Individual himself
 HUF- Karta
 Company-Managing director
 Firm-Managing partner
 Political party- Chief executive officer of such party
 Local authority- Principal Officer
 Association- Member of association
Manners of furnishing the return of income
 Electronically under digital signature.
 Transmitting data through electronic verification code.
 Filing of return through computer readable media.
 Filing of return through tax return preparer.
 Filing of return himself or through an agent.
PAN
Permanent account number is a number which is used to identify each
assessee regarding the tax matters. PAN has 10 alphanumeric
characters and issued in form of laminated card.
PAN is compulsory in the following cases
 Income exceeds exemption limit.
 Liable to pay tax on behalf of other person.
 Sale or purchase of immovable property.
 Opening a demat account.
 Application of debit card or credit card.
 Purchase of bank draft exceeding RS. 50000.
Assessment
It means computation of the total income and determination of tax
payable by the assessee.
Procedure of assessment of income tax
1. Filing the return of income tax.
2. Computation of taxable income of the assessee.
3. Determination of some payable by the assessee.
4. Making of the assessment order and issue notice of demand
specifying the sum payable by the assessee.
Classification/ Types of assessment (Essay)
 Self-assessment
 Assessment on the basis of return
 Regular assessment
a) Assessment on the basis of evidence
b) Best judgement assessment
 Re assessment
 Precautionary assessment
Self-assessment
The assessee himself compute the total income, tax liability and
submitting after paying tax is known as self-assessment.
Assessment on the basis of return
Where return has been filed by an assessee, assessing officer will assess
income of the person keeping in view of relevant provision, such
assessment is called assessment based on return.
Regular assessment
It means the assessment made on the basis of evidence or best
judgement assessment.
Assessment on the basis of evidence
A detailed assessment of an income tax return filed by a tax payer is
called scrutiny assessment or assessment on the basis of evidence.
Best judgement assessment
It is an assessment by the assessing officer to the best of his judgement
after taking into account all relevant material which he has collected.
Re-assessment (Income escaping assessment)
An income is said to have escaped assessment when it has not been
charged to tax in the original assessment year to which it rightly
belongs.
Precautionary assessment
In certain cases it is difficult to determine has to whom the income
pertains. The assessing officer can commence proceedings to
determine the question as who is responsible to pay tax. Such an
assessment is called precautionary assessment.
 INCOME TAX AND GST
Module III
Goods and service tax
It is a comprehensive, multistage, destination based tax which is levied
on every value addition. It is a single tax on supply of goods and
services.
Milestone in the history of GST
 2000- Prime minister introduced the concept of GST.
 2003- The central govt formed a task force under Vijay Khalkar.
 2004- The force recommended GST to replace existing tax.
 2006- First announcement of GST by union minister 2006-07 budget.
 2009- Empowered committee released the first discussion paper.
 2011- 115th amendment bill introduced and subsequently lapsed.
 2016- 122nd amendment bill introduced in Lok Sabha.
 2016- 1st GST council meeting conducted.
 2017 (March) - GST council recommend CGST, SGST, IGST, UTGST.
 2017 (April) - CGST, SGST, IGST, UTGST, act was passed.
 2017- (July) - GST was launched all over India.
Salient features of GST
 GST applicable on the supply of goods or services.
 GST is a destination based consumption tax.
 GST to be paid to accounts of center and state separately.
 GST is an important source of revenue for government.
 GST apply all goods and services except human consumption alcohol.
 Tobacco and tobacco products would be subject to GST.
 GST would be subject to PAN based registration.
Objectives of GST
1. One country one tax system.
2. Reduce tax evasion.
3. Reduce corruption.
4. Reduce economic distortion.
5. Increase productivity.
6. Increase tax GDP ratio.
7. Increase tax regulations compliances.
8. Uniform registration and payment.
Need for GST in India
1. GST rationalize the multiplicity of taxes.
2. Introduction of GST will cover untaxed areas of services.
3. GST will avoid distortions by present complex tax structure.
4. GST will avoid paying tax on tax.
5. GST will lead to credit availability on inter-state purchases.
6. GST provides greater certainty and transparency of taxes.
7. GST ensures tax compliance across the country.
8. GST will avoid dual taxation to some extent.
Advantages of GST
1. Eliminating tax on tax effect.
2. Decrease in price of product.
3. One point single tax.
4. Uniformity of tax rate.
5. Eliminate multiplicity of taxation.
6. Easy identification of products.
7. Easy compliance.
8. Reducing transaction cost.
9. Reduces the corruption.
Benefits of GST to various stake holders
 Benefits of GST to citizens
 Simpler tax system.
 Increase employment opportunities.
 Transparency in tax system.
 Uniform prices.
 Reduction in prices of goods.
 Benefits to trade and industry
 Reduction in multiplicity of taxes.
 Mitigation of double taxation.
 Development of common national market.
 Simpler tax regime.
 Efficient neutralization of taxes.
 Benefits to government
 Simpler tax system.
 Efficient uses of resources.
 Improved revenue collections.
 Broadening of tax base.
 Reduce tax evasion.
Limitations/ negative aspects of GST system in India
1. Dual tax system.
2. Short term business challenges.
3. Increased operation cost.
4. Online taxation system.
5. Multiple registration.
6. Indigenous manufacturing.
7. Revenue distribution.
8. Complexities of the businessman.
Comparison between traditional indirect/ VAT tax system and GST
Indirect tax system GST system
Complex scheme Simple scheme
There are separate tax rates There is only one CGST,SGST rate
There is cascading effect There is no cascading effect
Burden of tax payer is high Tax burden expected to be reduced
Cost burden to consumers Cost will be reduced
Tax compliance is complex Tax compliance become simpler
Taxes are levied at two stages It is levied at final destination point
State govt gets whole share Shared between central and states
Taxable event on sale of goods Taxable event on every supply of
goods and services
Online payment not compulsory Compulsory if more than RS.10000
VAT is not applicable on services GST applicable on services
Agent
Agent means a person who carries on the business of supply or receipt
of goods or services or both on behalf of another.
Aggregate turnover
It means the aggregate value of taxable supplies.
Capital goods
Capital goods means goods the value of which is capitalized in the
books of account of the person claiming the input tax credit and which
are used in the course of business.
Casual taxable person
Person who occasionally undertake transactions of supply of goods and
services in the course of business.
Composite supply
It means two or more goods or services that are only sold as a set and
cannot be sold individually.
Exempted supply
It is the supply of goods and services that does not attracts GST and
allows no claim on ITC.
Input tax
It means the central tax, state tax, integrated tax charged on any supply
of goods and services made to a registered person.
Mixed supply
It means a combination of two or more good or services made together
for a single price.
Components of GST
CGST (Central Goods and Services Tax)
It is tax levied on intra state supplies of both goods and services by the
central government and will be governed by the CGST act.
SGST (State Goods and Services tax)
It is tax levied on intra state supplies of both goods and services by the
state government and will be governed by the SGST act.
UTGST (Union territory goods and services tax)
It is an indirect tax that is collected when intra state goods or services
supplied, along with tax charged as under CGST act.
IGST (Integrated Goods and Services Tax)
It is a tax levied on all inter-state supplies of goods and services and will
be governed by IGST Act.
Cascading effect of tax
It is the effect where a tax is paid on tax and the value of the item keeps
increasing every time this happens.

Levy and collection of tax under GST

1. Levy and collection of cess
Cess is levied on such intra-state supplies of goods and services u/s 9
CGST Act and such inter-state supplies of goods and services u/s 5 of
IGST Act.
2. Levy and collection of cost, SGST, IGST, UTGST
Asper section 9 (1), the CGST or UTGST or SGST shall be levied on all
intra state supplies of goods and services. IGST shall be levied on all
inter-state supplies of goods and services.
3. Tax payable by the e-commerce operator on notified services
4. Reverse charge tax on reverse charge basis
It is a mechanism where the recipient of the goods or services is liable
to pay GST instead of the supplier.
Composite levy under GST
It is a scheme to bring simplicity and to reduce the compliance cost for
the small tax payers, where they have to pay the tax at a fixed rate
based on their business turnover.
Features of composite levy under GST
 Turnover must be below Rs.75 Lakhs (RS. 50 Lakhs for NE states)
 Fixed tax rate on the total sales turnover.
 Not eligible for input tax credit.
 Applies only to the intra-state supplies.
 No monthly filing, only quarterly returns.
 Issues bill of supply and not tax invoice.
Benefits of composition scheme under GST
1. No requirement to maintain records.
2. Hassle free payments of tax at single rate.
3. Filing quarterly returns reduce the cost.
Limitations of GST composition scheme under GST
1. No credit of input tax
2. No inter-state business
3. Pay tax from on pocket
4. Strict panel provisions
Specified rate of composition levy under GST
Category of registered person Rate of tax
Manufacturers (Except of such 2% of the turnover
goods as may be notified by govt)
Restaurant services 5% of the turnover
Traders or any other suppliers 1% of the turnover
GST tax structure
1. Zero rate
It is a nil tax that is applied on goods and services. Eg: Milk, Egg, Curd,
Educational and health services.
2. Lower rate
A lower rate of 5% will be applied on this category items. Eg: Tea,
Sugar, Edible oil, Spices.
3. Standard rate
There are two standard rate. 12% and 18%. Eg for 12%: Butter, Cheese,
Mobile phone, processed food. Eg for 18% Capital goods, Industry
intermediaries, computers and printers.
4. Higher rate
A higher rate of 28% will be levied on white goods. Eg: Washing
machine, Air conditioner, Refrigerator, Small car.
Revenue neutral rate
It may be defined as taxing procedure that allows the govt to still
receive the same amount of money despite changes in tax laws.
GST council (GSTC)
It is a constitutional body created for taking policy decisions about
introduction and implementation of GST, including about exemptions,
tax rates and tax credits.
Composition of GSTC
 Chairperson - The union finance minister
 Member- The union minister of state in charge of revenue or finance
 Members- Ministry in charge of finance/taxation of each state govt
Functions and powers of GSTC
GSTC will make recommendations to the union and states on;
1. Tax, cesses and surcharges levied by union and the states.
2. Goods and services that may be subjected to or exempted to GST.
3. Model GST laws, principles of levy, apportionment of IGST.
4. Threshold limit of turnover for GST exemption.
5. The rates including floor rates with bands of GST.
6. Special provision with respect to North Eastern states.
HSN under GST
HSN stands for harmonized system of Nomenclature developed by
WCO with vision of classifying goods all over the world in a systematic
manner.
Provisions related to HSN codes for GST in India
1. Small tax payer with annual turnover up to Rs. 1.5 crore need not
mention HSN code in their tax invoice.
2. Tax payers having turnover between Rs. 1.5 crore and Rs. 5 crore
need to mention only two digits of HSN code.
3. Tax payers having turnover above Rs. 5 crore need to mention four
digits of HSN code.
SAC in GST
SAC stands for services accounting code, it is the uniform codes for the
services for recognition, measurement and taxation.
Understanding related to SAC codes for GST in India
1. The first two digits are same for all services.
2. Next two digits represents major nature of service.
3. Last two digit represent detailed nature of service.

Supply under GST

Supply under GST includes all forms of goods and services or both such
as sales, transfer, exchange, barter, license, rental, lease, or disposal
made or agreed to be made for a consideration in the course of
furtherance of business.
Characteristics of supply
 Supply should be of goods or services.
 Supply should be taxable.
 Supply should be made by a taxable person.
 Supply should be made within a taxable territory.
 Supply should be made in exchange of cash or reward.
Types of supply
 Based on location
 Intra- state supply
Intra-state supply is a type of supply of goods or services where the
location of the supplier and place of supply are same state.
 Territorial waters
Where the location of supplier is in the territorial waters or where the
place of supply is in the territorial waters.
 Inter-state supply
Inter-state supply is a type of supply, when the location of the supplier
and the place of supply are in different states.
 Based on combination
 Composite supply
When two or more goods or services are combined to make a bundle, it
is known as composite supply.
 Mixed supply
A mixed supply means two or more independent goods or services
which are offered together as a bundle but can also be sold separately.
 Continuous supply
Continuous supply means supplying goods or services that are provided
or agreed to be provided continuously or on a recurring basis.
 Based on recipient
 Inward supply
It means receipt of goods or services or both whether by purchase,
acquisition or any other means with or without consideration.
 Outward supply
It means supply of goods or services or both whether by sales, transfer
barter, exchange license, rental, lease or disposal or any other mode
agreed to be made by such person in the course.
 Based on tax treatment
 Exempt supply
It means supply of goods or services or both which attracts nil rate of
tax or which may be wholly exempt from the tax.
 Zero-rated supply
It means export or supply of good or services to special economic zone
developer or special economic zone unit.
 Non-taxable supply
Non-taxable supply is the sale of any good or service which attracts nil
rate of tax.
 Taxable supply
Supply on which tax shall be paid under GST.
Components of supply under GST
1. Time of supply
2. Place of supply
3. Value of supply
Time of supply for GST
Time of supply means the point in time when goods have been deemed
to be supplied or services have been deemed to be provided for
determining when the tax payer is liable to pay taxes.
Time of supply for goods
The time of supply of goods is the earliest of;
1. Date of issue of invoice
2. Last date on which invoice should have been issued.
3. Date of receipt of advance/ payment
Time of supply of services
The time of supply of services is the earliest of;
1. Date of issue of invoice
2. Date of receipt of advance/ payment
3. Date of provision of services
Place of supply under GST
Place of supply is the location of the service recipient. It determines
whether a transaction is intra state supply, inter-state supply or an
external trade.
Basic principles of place of supply
1. GST is a consumption based tax.
2. Location of the supplier of services and place of supply are in the
same states or union territory, CGST and SGST/ UTGST payable.
3. Location of the supplier of services and place of supply are in the
different states or union territory, IGST payable.
4. Specific provision have been made for place of supply in case of
services.
Value of supply under GST
The value of supply for a transaction is the price or consideration paid
by the customer to suppliers. It decided the taxable value of supply
made, and thus the amount of tax needed to be paid for it.
 INCOME TAX AND GST
Module IV
GST registration
GST registration means a process by which a tax payer gets himself
registered under GST. After registration tax payer obtain a unique
identification code from the GST authority.
Benefits of registration under GST Act
 Legal recognition as supplier of goods or services or both.
 Proper utilization of input tax paid.
 Helpful to gain customer trust.
 Legal compulsion to keep required books and records.
 Eligible to participate in government bids or contracts.
 Eligible to avail privileges under GST and other law.
 Eligible to collect tax from persons whom supply is made.
Persons liable for registration under CGST Act
1. Every supplier whose aggregate turnover in financial year exceeds Rs
20 Lakhs.
2. Every person who is registered under an existing law.
3. When a business carried on by a taxable person is transferred the
transferee or successes is liable to register.
Persons not liable for registration under CGST Act
1. Person exclusively engaged in the business of supplying goods or
services that are not liable to tax.
2. Person exclusively engaged in the business of supplying goods or
services that are wholly exempt from tax.
3. Agriculturist to the extent of supply of produce out of cultivation of
land.
4. Any other persons exempted by govt asper council recommendation.
Compulsory registration
It is the registration to be done by the suppliers who comes under the
categories mentioned in the GST Act.
Compulsory registration requirements
1. Persons making any interstate taxable supply
2. Casual taxable persons making taxable supply
3. Persons who to pay tax under reverse charge
4. Non-resident taxable person making taxable supply
5. Input service distributor
6. Every electronic commerce operator
7. Persons who make taxable supply on behalf of other taxable person
Voluntary registration
Voluntary registration is the self-registration by the suppliers
irrespective of threshold limit given by GST Act.
Advantages of voluntary registration under GST
1. Helps to attract trust of customers.
2. Easy to make interstate sales.
3. Opportunity for business development.
4. Legal right to collect tax.
5. Legal right to issue tax invoice.
6. Enjoy benefits of input tax credit on inward supplies.
Suo moto registration
In connection with any survey, inspection or enquiry under the act, the
proper officer finds that a person liable to be registered under the act
has failed to do so. Such officer may issue registration to said person on
a temporary basis and issue an order in the form of GST-REG 12.
Deemed registration
Under GST law there is a provision of deemed approval of fresh
registration and amendment of registration incase the departmental
officer fails to take any action on the tax payers application within the
prescribed period.
Phases of GST registration/ steps involved in GST registration
 Fill part A of form GST REG-01
 Submit PAN, E-mail ID, and mobile number
 Online verification of PAN mail ID, and mobile number through OTP.
 Sending temporary application reference number
 Completing part-B GST-01 after verifying reference number
 Attaching supporting documents
 Submission of part B of form GST REG-01
 Issue of acknowledgement in form GST REG-02
 Issue of certificate of registration in form of GST REG-06 within 3
 days from the date of submission of application
 Response against form GST REG-033 in form GST REG-06 within 7
days from the date of issue of form GST REG-03
Cancellation/ suspension of GST registration
The proper officer may cancel GST registration in the following cases
 In the case of discontinuation or transfer of business.
 Change in the constitution of business.
 Cancellation of registration shall not affect liability of payment of
tax.
 The cancellation of registration under the state goods and services
tax Act, as the case may be, shall be deemed to be cancellation of
registration under CGST Act.
 Every registered person whose registration is cancelled shall pay an
amount by way of electronic payment.
Revocation of cancellation of registration
 Revocation of cancellation can be done in the prescribed manner
within 30 days from date of cancellation order.
 The proper officer can revoke the cancellation of registration within
another period of 30 days from date of application.
 Revocation officer has the right to reject the revocation if the
requirements are not met.
Tax invoice
It is a document that shall be issued by a registered person on making
taxable supplies. It should include description of the goods, quantity,
value and tax charged on the supply.
Importance of tax invoice
1. It is an evidence for payment of the value of the goods or services.
2. It is important for determination of address of delivery.
3. For determination of continuous journey of goods and services.
4. For taking input tax credit.
5. For determination of value of goods or services.
Content of tax invoice
 Name and address of registered supplier
 GSTIN of registered supplier
 Consecutive serial number
 Date of issue of tax invoice
 Name, address of recipient
 GSTIN of recipient
 HSN code for goods or services
 Description of goods or services supplied
 Quantity of goods
 Total value of goods or services
 Taxable value of supply of goods
 Applicable rate of tax
 Amount of tax charged
 Signature of the supplier
Types of tax invoices
1. Bill of supply
2. Credit note
3. Debit note
4. Aggregate invoice
Bill of supply
It is a document similar to tax invoice but does not contain any tax
amount as the seller is not eligible to collect tax on the supplies made.
Invoice-cum bill of supply
It is a document provided by registered person when they are supplying
taxable as well as exempted good or services to unregistered person.
Receipt voucher
It is the voucher issued by a registered person whenever he receives an
advance payment with respect to any supply of goods or services or
both.
Refund voucher
It is the voucher issued by a registered person, when he received
advance payment and issued receipt voucher but no supply is made or
tax invoice is issued.
Credit note
A credit note is a document issued by the supplier in following cases
 Supplies are returned or found to be deficient by the recipient.
 Decrease in taxable value
 Decrease in GST charged in invoice
Debit note
It is a document issued by the supplier in following cases
 Increase in taxable value
 Increase in GST charged in invoice
Contents of a credit note or debit note
1. Name, address and GSTIN of supplier
2. Nature of the document
3. Consecutive serial number not exceeding 16 characters
4. Date of the issue of the document
5. Name, address and GSTIN of recipient
6. Serial number and date of the corresponding tax invoice
7. Value of taxable supply of goods or services
8. Rate of tax and amount of tax credited/debited
9. Signature of supplier
Tax return under GST
A tax return is a form furnished electronically or manually with any of
the tax authorities that reports income, expenses and other relevant
information.
Modes of furnishing of GST returns
1. Through online portal
2. Through offline utilities provided by GSTN
3. Through GST Suvidha providers
Types of GST returns
 GSTR-1 (Return of outward supplies)
 It is a monthly return.
 Due date is 10th of the next month.
 Applicable to normal tax payers.
 GSTR 2 ( Return of inward supplies)
 It is a monthly return.
 Due date is 15th of next month.
 Applicable to normal tax payers.
 GSTR 3B (Summary of inward and outward supplies)
 It is a monthly return.
 It show cases the summary of GST liabilities of the tax payer.
 Due date is 20th of next month.
 Applicable to registered persons.
 GSTR 4 ( Return by composition tax payer)
 It is a quarterly return.
 Due date is 18th of month succeeding quarter.
 Applicable to composition tax payer.
 GSTR 5 ( Return by non-resident tax payer)
 It is a monthly return.
 Due date is 20th of next month or within 7 days after registration
expiry.
 Applicable to non-resident tax payers.
 GSTR 6 (Return by input service distributes)
 It is a monthly return.
 Due date is 13th of the next month.
 Applicable to input service distributor
 GSTR 7(Return of tax deducted at source)
 It is a monthly return.
 Due date is 10th of the next month.
 Applicable to tax deductor.
 GSTR 8 (Return statement of collection of tax at source)
 It is a monthly return.
 Due date is 10th of the next month.
 Applicable to e-commerce operator.
 GSTR 9 (Annual return)
 It is an annual return.
 Due date is 31st December of next financial year.
 Applicable to normal tax payer.
 GSTR 10 (Final return)
 It is filed once on cancellation of registration.
 Due date is within 3 months from the date of cancellation of
registration.
 Applicable to registered person whose registration has been
cancelled.
First Return
It is the return filed by every tax registered person for the period
between the dates on which he became liable to get registration till the
date on which the registration has been granted.
Annual Return
It is the return filed by every tax registered person annually for every
financial year in the prescribed manner.
Final Return
It is the return to be furnished by every registered person whose
registration has been cancelled. It is to be done within three months of
the date of cancellation.
GST Practitioner
GST practitioner means any person who has been approved u/s 48 to
act as such practitioner. He assist and facilitate compliance under GST
system.
Role of GST practitioner
 Furnish the details of outward and inward supplies.
 Furnish monthly, quarterly, annual or final return.
 Make deposit for credit into the electronic cash ledger.
 File a claim for refund.
 File an application for amendment of registration.
 Furnish information for generation of e-way bill.
 Furnish details of challan
 File an application for amendment of enrollment.
Responsibilities of a GST Practitioner
 Take authorization from a registered person.
 Prepare statements with due diligence.
 Fix his digital signature on all documents prepared by him.
 Appear as authorized representative before any officer.
 Before furnishing any document, ensure the facts are true.

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