1. Let’s Learn about
Goods & Service Tax
gst@asija.inGST Wing | Asija & Associates LLP

2. WHAT WILL WE DISCUSS
1. WHAT IS GST
2. MIGRATION & REGISTRATION PROCEDURE
3. TRANSITION OF EXISTING STOCK
4. INPUT TAX CREDITS
5. PAYMENT OF TAX
6. RETURN FILLING AND DUE DATES
7. INVOICING
8. RECORD MAINTENANCE
9. PRE-REQUISITES FOR GST COMPLIANCE
gst@asija.inGST Wing | Asija & Associates LLP

3. 1. WHAT IS GST
GST
Central
Excise
Service
Tax
VAT &
CST
Entry,
Luxury,
Entertain
ment Tax
Add.
Duty of
Excise
Sp. Add
duty of
Custom
IGST
CGST
SGST /
UTGST
gst@asija.inGST Wing | Asija & Associates LLP

4. 1. WHAT IS GST
 GST Council to make laws
 GST Network to assist
 Central & State Govt
 Tax Departments
 Proper Officer to Administer
 GSTIN is the identity
00 AAAAA0000A 0 Z 0
 J & K is excluded
 Petroleum Products to be covered later
 Reverse Charge on procurement from
unregistered supplier on value of Supply
exceeding ₹ 5,000
 ITC is available on all capital goods, inputs
& other goods or services used
gst@asija.inGST Wing | Asija & Associates LLP

5. 1. WHAT IS GSTPresent&Future
taxstructure
Central Excise Duty Manufacturing CGST
Service Tax Provision of Service CGST
VAT/CST Sale SGST/IGST
Custom Duty + Counter-
Veiling Duty
Import & Export IGST
Entry Tax/
Entertainment Tax
Entry of goods/
Entertainment
SGST
gst@asija.inGST Wing | Asija & Associates LLP

6. 1. RATES UNDER GST
Goods
0%
3%
5%
12%18%
28%
Cess
Service
0%
5%
12%18%
28%
gst@asija.inGST Wing | Asija & Associates LLP

7. 1. SUPPLY, TIME & PLACE OF SUPPLY
• Intra-State / Inter-State Supply of goods or services
• Made or agreed to be made for a consideration
• In the course or furtherance of business
• Government may notify supplies where RCM is applicable
• In case of purchase from unregistered supplier, RCM is applicable
• Liability to pay tax arises at the time of supply
• date of issue of invoice / date of the receipt of goods
• last date for issuance of invoice / 30 days from date of issue of invoice
• supplier receives the payment / date of payment as entered in BOA
• Value shall be transaction value, incidental expenses, interest or late fee
or penalty.
gst@asija.inGST Wing | Asija & Associates LLP

8. 2. MIGRATION PROCEDURE
Existing tax
payer
(EM, ST, VAT)
Login to
gst.gov.in
Using
Provisional ID
received
Submit docs of
Entity &
Management
Mention all
registrations &
locations
Identify Goods
& Services &
HSN Codes
Use DSC to
submit the
form
ARN issued &
“Migrated” status
granted
Remember to
check status
If error is
found, correct it
& resubmit
Provisional
Registration in
REG-25 will be
issued
3 months time is
available for
Enrolment
gst@asija.inGST Wing | Asija & Associates LLP

9. 2. REGISTRATION PROCEDURE
 Intra-State Supplier
(Aggr. Turnover > 20Lakh)
 Inter-State Supplier
 Person paying tax under RCM
 Opted Composition Scheme
 Responsible for TDS / TCS
 E Commerce operator
 Casual Taxable person
 Input Service Distributor
 Non-Resident Taxable person
 Supplying OIDAR services
 Agents
 Branch offices to get registered if not in
same state
 Business Verticals may get separate
registration
 No need to meet officer / visit to Dept.
 No need to submit physical copies of docs
 No delay in registration in usual case
 Physical verification of premises only if
deemed necessary by proper officer
 Verification report to be issued in 15 days
gst@asija.inGST Wing | Asija & Associates LLP

10. 2. REGISTRATION PROCEDURE
E-Form to Proper
Officer (30)
A - PAN, Mobile
Number and E-mail
Id
Temp. Reference
No. Granted
B - Furnish
required details
Sign & submit
Acknowledgement
generated
Clarification upon
Verification (3)
Answer the queries
(7)
Rejection if no /
incomplete reply
Digitally signed
Reg. Certificate
to be issued (7)
Deemed
Registration
possible (3-7)
Display Registration
certificate
Display GSTIN on
the name board
at entry
Amendment to be
informed (15)
Cancellation by
Proper Officer
Surrender
Registration
gst@asija.inGST Wing | Asija & Associates LLP

11. 3. TRANSITION OF EXISTING STOCK
 A Registered Person is entitled to take credit of CENVAT Credit as available in previous
return (Admissible – All 6 returns filed – Exemption Notification)
 For capital goods, CENVAT allowed even if not shown in return earlier (allowed in existing
& new law)
Mention details of CANVAT availed earlier & CANVAT yet to be availed in GST TRAN 1.
 If engaged in manufacture of exempt goods till date, credit of duties paid on inputs (RM /
WIP / FG) if;
 Used in Taxable supplies now
 ITC allowed under new law
 Tax Invoice / other doc is available showing tax payment
 Such doc was issued within 12 months preceding appointed date
gst@asija.inGST Wing | Asija & Associates LLP

12. 3. TRANSITION OF EXISTING STOCK
 If a trader doesn’t have such an invoice, credit will be allowed
 >18% tax rate - 60% credit against excise payment
 <18% tax rate - 40% credit against excise payment
 Though Document for procurement of such goods should be available
 File GST TRAN 1 within 60 days to take credit
 File Monthly GST TRAN– to disclose sales & stock for the month (6 returns)
 Details of Form C / F and similar certificates of rate concession to be mentioned
 Scheme available for 6 months only – Reversal of ITC
 Goods to be stored in a manner that it can be easily identified by Registered person
gst@asija.inGST Wing | Asija & Associates LLP

13. 3. TRANSITION OF EXISTING STOCK
Tax Paid under
existing Law,
Supply made after
appointed date
ITC Allowed
Record invoice in 30
days
Centralised
Registration earlier,
now multiple
registration
ITC Allowed
File Return within 3
months,
Allocate ITC to any of
such entities
gst@asija.inGST Wing | Asija & Associates LLP

14. Have tax
invoice / doc
issued by
supplier
evidencing tax
payment
Goods or
Services or
both have been
received
Tax charged
should have
been actually
paid to
government
Furnished all
returns
preceding 6
months
Payment to
supplier to be
made within
180 days from
date of issue of
invoice.
4. INPUT TAX CREDIT
gst@asija.inGST Wing | Asija & Associates LLP

15. 4. INPUT TAX CREDIT
IGST
IGST
CGST
SGST
UTGST
CGST
CGST
IGST
SGST
SGST
IGST
UTGST
UTGST
IGST
gst@asija.inGST Wing | Asija & Associates LLP

16. 4. NO ITC AVAILABLE IF
• Registration not applied for within 30 days from the date on which you become liable to
register
• After the time limit for availing Input Tax Credit is crossed (1 year / return for Sep / AR)
• On goods and/or services used as inputs by a composition tax payer
• On goods and/or services used for personal consumption
• On goods and/or services used for making exempt supplies
• On goods and/or services received for which payment has not been made within 180 days
from the date of invoice
• On goods lost, stolen, destroyed, written off or disposed as gift or free samples
gst@asija.inGST Wing | Asija & Associates LLP

17. 5. PAYMENT OF TAX
 Pay on or before the due date of filing of the return
 To be paid electronically
 Will be shown in cash ledger
 Interest & penalty to be paid only (No ITC Adjustment)
 Make payment for tax or other dues in following order
 Previous tax periods
 Current tax periods
 Interest not exceed 18% will be charged if delay in payment
gst@asija.inGST Wing | Asija & Associates LLP

18. 5. PAYMENTS OF TAX
ELECTRONIC
LEDGERS
Cash ledger
•Reflect all
deposits made
in cash,
TDS/TCS
made
•Making
payments on
account of
GST
Credit ledger
Self assessed
ITC will reflect
here
Credit can be
used for TAX
PAYMENT
ONLY
Liability ledger
Total tax
liability for a
month shown
here
Displayed on
tax payers’
dashboard
gst@asija.inGST Wing | Asija & Associates LLP

19. 6. INVOICING
 Tax invoice
 Before or at the time of removal or
delivery of goods
 Before or after the provision of service
 Bill of supply
 Receipt voucher
 Refund Voucher
 Payment voucher
 Supplementary Invoice
 Debit or Credit notes
 Invoice to be Triplicate for goods &
duplicate for services
 To be issued in 30 days
 E-way bill in case of transfer of
goods more than `. 50,000/-
gst@asija.inGST Wing | Asija & Associates LLP

20. 6. INVOICING
Invoice must contain;
 Name, address and GSTIN of the supplier;
 Consecutive serial number (Max 16 characters), unique for a financial year;
 Date of its issue;
 Name, address and GSTIN or UIN, if registered, of the recipient;
 HSN code of goods or Accounting Code of services
 Description of goods or services;
 Quantity in case of goods and unit or Unique Quantity Code thereof
 Total value of supply of goods or services or both
 Taxable value of supply of Goods/ Services (taking into account discount or
abatement, if any
gst@asija.inGST Wing | Asija & Associates LLP

21. 6. INVOICING
 Rate of tax (CGST / SGST / IGST / UTGST / Cess);
 Amount of tax charged (CGST / SGST / IGST / UTGST / Cess);
 Place of supply along with the name of State, If inter-State supply;
 Address of delivery where the same is different from the place of supply;
 Whether the tax is payable on reverse charge basis; and
 Signature or digital signature of the supplier or his authorized representative:
gst@asija.inGST Wing | Asija & Associates LLP

22.  Compliance under GST is no more
“a one day activity”.
 Return cycle is spread across the
month.
 From offline data recording to online
data recording to file return.
7. RETURN FILING
 To be filed electronically
 Transaction Level information
 Matching concept
 Return is must (even if NIL)
 No Subsequent Returns if return of
prior period are pending
 No Revision
 Only Rectification (in subsequent
return)
gst@asija.inGST Wing | Asija & Associates LLP

23. Day 0-10
GSTR-1: Details of outward
supply.
Day 11
GSTR-2A: Auto-populated
Inward supply to Recipient
Day 11-15
GSTR-2: To be modified by
the recipient
Day 16
GSTR-1A: Modified details
made available to supplier.
Day 16-17
Supplier to accept or reject
the modifications
& GSTR-1 gets amended.
Day 18-20
Calculate tax liability & pay
then file GSTR-3
7. RETURN FILLING
gst@asija.inGST Wing | Asija & Associates LLP

24. 7. RETURN FILLING
Returns / Statements Filing Due Date
Monthly Return – Taxable Supplier 20th of the next month
Return for Tax Deducted at Source (Monthly
Returns)
10th of the next month
Return for ISD (Monthly Returns) 13th of the next month
Return for Composition Levy (Quarterly
Returns)
18th of the next quarter
Annual Returns (excludes suppliers of ISD,
composition levy, tax deductor, casual
taxable and non-resident taxable person)
31st December following the end FY
gst@asija.inGST Wing | Asija & Associates LLP

25. 8. RECORD MAINTENANCE
At his principal place of business;
 production or manufacture of goods;
 inward and outward supply of goods or services or both;
 stock of goods;
 input tax credit availed;
 output tax payable and paid; and
If more than one place of business is specified in the certificate of
registration, the accounts relating to each place of business shall be kept at
such places of business.
gst@asija.inGST Wing | Asija & Associates LLP

26. gst@asija.inGST Wing | Asija & Associates LLP

27. 9. PRE-REQUISITES FOR GST COMPLIANCE
Person dealing with GST should have;
 Knowledge of the goods & service being dealt with, rate & HSN codes
 Applicability of reverse charge
 Eligibility of ITC on inward supplies
 Proper books of accounts displaying inward & outward supplies
 Stock of goods
 Output tax payable
 Return Formats
 GST Network & its functions
gst@asija.inGST Wing | Asija & Associates LLP

28. 9. PRE-REQUISITES FOR GST COMPLIANCE
IT infrastructure will play a critical role because;
 Outward returns to be filed online
 Inward returns to be checked online
 Modification / adjustment to be done online
 Tax to be paid online.
 Monthly return to be filed online
 Copies of invoices to be uploaded
gst@asija.inGST Wing | Asija & Associates LLP

29. THANK YOU
FOR ANY QUERIES KINDLY CONTACT OUR GST TEAM :
CA Rahul Mishra
Partner
(rahul.mishra@asija.in)
CA Amber Agrawal
Associate Director
(amber.agrawal@asija.in)
CA Prakhar Gupta
Manager in charge
(prakhar.gupta@asija.in)
ASIJA & ASSOCIATES LLP
CHARTERED ACCOUNTANTS
H.O. : 34/5 , GOKHALE MARG, LUCKNOW
PH. NO. : 0522-4004652,2205072

30. DISCLAIMER
This presentation has been prepared to provide a gist of the applicable law
pertaining to GST as issued till date.
For detailed insight and for better understanding of the various provision of
the law, the said presentation should be read along with related provision of
CGST Act, IGST Act, SGST Act & related rules.
We shall not be responsible for any decision taken on the basis of the said
presentation, without obtaining our professional guidance or consultation on
the matter for which reliance was made on this presentation.”
gst@asija.inGST Wing | Asija & Associates LLP