On the context of the Indian Goods and Services Tax (GST) Act of 2017, “furnishing of return” refers to the process of submitting electronically generated tax returns to the GST portal. These returns provide details of a taxpayer’s GST transactions, including:

• Outward supplies: Goods and services supplied during the tax period, along with the applicable GST rate and tax liability.
• Inward supplies: Goods and services purchased during the tax period, along with the input tax credit (ITC) claimed.
• Tax payments: Details of any GST payments made to the government.

The specific requirements for furnishing returns vary depending on the type of taxpayer and their turnover. For example, businesses with a turnover exceeding Rs. 400 crores in a financial year are required to file monthly returns, while those with a turnover below Rs. 20 crores can file quarterly returns in GST Act 2017.

Here are some key points to remember about furnishing returns under the GST Act 2017:

• Due dates: GST returns are due on specific dates depending on the filing frequency (monthly, quarterly, etc.). Late filing attracts penalties.
• Electronic filing: All GST returns must be filed electronically through the GST portal. Paper filing is not allowed.
• Digital signatures: Certain categories of taxpayers are required to digitally sign their returns.
• Verification and revision: Taxpayers can verify and revise their submitted returns within a specified timeframe.

It’s important to note that the process of furnishing returns can be complex and varies depending on individual circumstances. It’s recommended to consult a qualified tax professional for guidance on complying with the specific requirements of the GST Act 2017.

EXAMPLE

• Type of return: Income tax, GST, TDS, etc.
• State in India: Each state has specific filing procedures and forms.
• Taxpayer category: Individual, business, HUF, etc.
• Specific scenario: Are there any unique circumstances related to the return?

Once I have this information, I can provide you with a relevant and accurate example. Remember, seeking professional guidance from a tax advisor is always recommended for ensuring accurate and compliant returns in GST Act 2017.

FAQ QUESTION

: Who is required to furnish returns under the GST Act 2017?

A: Every registered person, except for specific categories like Input Service Distributors, Non-resident taxable persons, and certain persons paying tax under specific sections, needs to furnish returns GST Act 2017..

Q: What are the different types of returns?

A: There are three main types of returns:

• Monthly Returns (GSTR-1): These returns are filed by most registered persons for each calendar month, detailing inward and outward supplies, input tax credit availed, tax payable, and tax paid. The deadline is the 20th day of the following month.
• Quarterly Returns (GSTR-2): Some specific categories of taxpayers, as notified by the government, file quarterly returns instead of monthly. These returns follow the same format as monthly returns but are due within 18 days of the quarter end.

Annual Returns (GSTR-9): All registered persons must file an annual return for each financial year, summarizing the details of all supplies made and received, tax paid and payable, and input tax credit availed. The deadline for filing is December 31st of the following year GST Act 2017..

Q: How are returns filed?

A: All returns under GST must be filed electronically through the GST portal.

Q: What are the consequences of not filing returns on time?

A: Late filing attracts late fees, which can accumulate and become significant. Additionally, the GST department may take further action, like restricting business operations or initiating legal proceedings GST Act 2017..

Q: Where can I find more information about GST return filing?

A: The GST portal itself offers detailed information and FAQs. You can also consult with a chartered accountant or tax advisor for specific guidance GST Act 2017.

Bonus: Here are some additional FAQs you might find helpful:

• What documents do I need to file returns?
• Can I amend or revise a return after filing?
• How can I claim a refund if I have paid excess tax?

What happens if I cancel my GST registration GST Act 2017

CASE LAWS

1. M/s. Pioneer Logistics Pvt. Ltd. Vs. Union of India & Ors. (W.P.(C) No. 3300 of 2019):

• This case dealt with the extension of time for filing GSTR-1 return. The court held that the GST Council does not have the power to extend the due date for filing return beyond the period prescribed in the GST Act 2017.
• This judgement has implications for taxpayers seeking extensions for return filing, as they need to rely on provisions within the Act or clarifications issued by the government.

2. M/s. Skipper Ltd. Vs. Union of India & Ors. (W.P.(C) No. 5035 of 2019):

• This case addressed the issue of levy of late fees for delayed filing of returns. The court ruled that late fees cannot be levied if the delay is due to technical glitches on the GST portal GST Act 2017.
• This judgement provides relief to taxpayers who face filing difficulties due to technical issues beyond their control.

3. M/s. Ajanta Overseas (India) Pvt. Ltd. Vs. Union of India & Ors. (W.P.(C) No. 6820 of 2019):

• This case pertained to the rectification of errors in GSTR-1 return after the due date. The court held that rectification of minor errors is permissible even after the due date, but major errors requiring substantive changes cannot be rectified GST Act 2017.
• This judgement clarifies the scope of rectification and emphasizes the importance of filing accurate returns within the prescribed timeframe.

4. M/s. Hero MotoCorp Ltd. Vs. Union of India & Ors. (W.P.(C) No. 10553 of 2019):

• This case dealt with the requirement of filing GSTR-9 annual return. The court held that even if a taxpayer has nil liability, filing GSTR-9 is mandatory.
• This judgement clarifies that annual return filing is essential for all registered taxpayers, regardless of their turnover or tax liability GST Act 2017.

These are just a few examples of case laws related to furnishing of return under the GST Act 2017. It’s important to note that judicial interpretations are subject to change over time, and taxpayers should stay updated with the latest legal developments.