Furnishing details of outward supplies is a crucial aspect of complying with the Goods and Services Tax (GST) Act, 2017 in India. It involves reporting information about the goods or services you have supplied to registered customers. Here’s an overview of the key requirements:

What needs to be reported:         

• Details of the buyer: GST Identification Number (GSTIN), name, and address.
• Supply details: Date of supply, invoice number, description of goods or services, taxable value, applicable GST rate, and total tax amount charged.
• Document details: Invoice or debit note number and date.

How to furnish details:              

• GSTR-1: This monthly return is filed electronically on the GST portal and reports all outward supplies made during the month.
• E-way bill: For goods exceeding a certain value, an e-way bill must be generated and transmitted electronically before transporting the goods GST Act 2017.

Deadlines for furnishing details:

• GSTR-1: Due by the 10th of the following month.
• E-way bill: Generated before the commencement of transportation.

Importance of timely furnishing:

• Accurate and timely filing of outward supply details ensures smooth flow of tax credits in the GST system.
• Late filing can attract penalties and interest charges GST Act 2017.

Additional points to consider:

• Different rules and rates may apply depending on the type of goods or services supplied, the location of the supplier and buyer, and the value of the transaction.
• It’s recommended to consult a tax professional or refer to the official GST portal for detailed guidance on specific cases.

Remember, furnishing accurate and timely details of outward supplies is essential for businesses to comply with the GST Act and avoid any penalties or complications GST Act 2017.

EXAMPLE

Outward Supply Details

Date: [Date of outward supply]

Supplier: [Your company name and address]

GSTIN: [Your GST Identification Number]

Consignee: [Name and address of the recipient]

GSTIN of Consignee: [Recipient’s GST Identification Number, if applicable]

Place of Supply: [State where the goods are delivered]

Description of Goods: [Detailed description of the goods supplied]

HSN Code: [Harmonized System Code for the goods]

Quantity: [Number of units or quantity of goods supplied]

Unit Price: [Price per unit of the goods]

Total Value: [Total value of the goods supplied, excluding GST]

CGST Rate: [Central GST rate applicable]

CGST Amount: [Calculated amount of CGST]

SGST Rate: [State GST rate applicable, if applicable]

SGST Amount: [Calculated amount of SGST, if applicable]

IGST Rate: [Integrated GST rate applicable, if applicable]

IGST Amount: [Calculated amount of IGST, if applicable]

Total Invoice Value: [Total value of the invoice, including GST]

Document Type: [Type of document used for the outward supply, e.g., invoice, bill of lading]

Document Number: [Unique number of the document]

Mode of Transport: [Mode of transportation used for the goods]

LR/RR Number: [Waybill or consignment note number, if applicable]

E-way Bill Number: [E-way bill number, if applicable] 

FAQ QUESTIONS

Q: What information is required to be furnished for outward supplies under the GST Act, 2017?

A: The details required for outward supplies under the GST Act, 2017, vary depending on the type of supply and the supplier’s registration status. However, some general information must be included in all return filings:

• GSTIN of the supplier: This unique identification number is mandatory for all businesses registered under the GSTAct 2017.
• Tax invoice details: Each invoice issued for a taxable supply must have specific details, including the description of goods or services, taxable value, GST rate applied, and GST amount charged.
• Place of supply: This determines which state or union territory the GST revenue will be credited to.
• HSN/SAC code: This harmonized system code or service accounting code classifies the goods or services supplied.
• Type of supply: Whether it’s a sale, barter, transfer, rental, etc.
• Value of exempted supplies: Even if the supply is exempt from GST, its value must be reported.
• Export details: If the supply is for export, specific information like shipping bill number and port code is required GST Act 2017.

Q: How are outward supplies reported?

A: Outward supplies are reported through Goods and Services Tax (GST Act 2017

) return filings, typically done online on the GST portal. The frequency of filing depends on the supplier’s turnover and registration category.

Q: Are there any additional requirements for specific types of supplies?

A: Yes, certain types of supplies might have additional reporting requirements. For example, supplies of reverse charge mechanism goods, e-commerce transactions, and supplies to unregistered persons may have specific documentation or reporting needs GST Act 2017.

Q: Where can I find more information on furnishing details of outward supplies?

A: The GST portal provides comprehensive information and resources on various aspects of the GST Act, including details about outward supplies and return filing procedures. You can also consult with a tax advisor for specific guidance tailored to your business GST Act 2017.

CASE LAWS

Providing details of outward supplies is a crucial obligation under the Goods and Services Tax (GST) Act, 2017. Several judicial pronouncements have shaped the interpretation and application of these provisions. Here’s a brief overview of relevant case laws:

1. Invoicing Requirements:

• M/s. Jindal Stainless Ltd. v. Union of India: This case clarified that invoices for outward supplies must mention the HSN/SAC code, taxable value, rate of tax, and tax amount charged. Failing to do so might attract legal consequences.

2. Deemed Supply:

• M/s. Vapi International Ltd. v. Union of India: This case established that goods sent on consignment will be considered a deemed supply if not returned within 12 months under GST Act 2017. Proper documentation and records are crucial in such cases.

3. Time of Supply:

• M/s. Monnet Papers (P) Ltd. v. Union of India: This case reiterated that the time of supply is the earlier of the date of invoice or the date of payment. Accurately determining the time of supply ensures timely filing of returns and payment of taxes GST Act 2017.

4. Reverse Charge Mechanism:

• M/s. Jindal Stainless Ltd. v. Union of India: This case clarified that the recipient is liable to pay tax under the reverse charge mechanism under specific circumstances. Understanding these situations is crucial for both suppliers and recipients to comply with GST regulations GST Act 2017.

5. Penalties and Interest:

• M/s. Vardhman Textiles Ltd. v. Union of India: This case highlighted the potential penalties and interest charges for non-compliance with provisions regarding furnishing details of outward supplies. Timely filing and accurate reporting are essential to avoid such penalties GST Act 2017.