GST Tip – 191

The last set of FORM GST MIS forms as per GST Revised Returns Rules are FORM GST MIS-5 & FORM GST MIS-6. These are issued by the common portal if there is any discrepancy between the data of the supplier and the e-commerce portal uploaded in the respective returns. The discrepancy will be communicated to the supplier in FORM GST MIS-5 and the e -commerce operator in FORM GST MIS-6.

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Prototypes – Retruns & Payments

The work at the GSTIN is going at the speed of light for making the reporting seamless and online under GST. A few days back the GSTIN has released the list of selected GSP’s (GST Suvidha Provider) and now they have released the screenshots of the screens under GST for Returns and Payments. The basic reason for them to release these screens is to give a basic idea of the screens under GST and how simple and ease it will be for the tax payers.

The mock-up screens can be viewed from here

GST Tip – 63

In the proposed Goods and Service Tax, the returns are to be filed on monthly basis and same return for all the taxes i.e CGST (Central Goods and Service Tax), SGST (State Goods and Service Tax) and IGST (Integrated Goods and Service Tax) in case of regular tax payers and quarterly for tax payers under composite scheme.

GST Tip – 60

As per the transitional provisions in GST, Central Excise and Service Tax Credit will be carried forward as CGST Credit, Value Added Tax Credit will be carried forward as SGST Credit in the electronic credit ledger based on the input tax credit shown in the returns filed immediately prior to the appointed day.