{"id":7302,"date":"2022-05-17T03:29:40","date_gmt":"2022-05-17T02:29:40","guid":{"rendered":"https:\/\/www.gstworld.co.in\/blog\/?p=7302"},"modified":"2022-05-17T03:31:26","modified_gmt":"2022-05-17T02:31:26","slug":"rajasthan-commercial-tax-department-issues-circular-regarding-the-correct-submission-of-returns-under-gst","status":"publish","type":"post","link":"https:\/\/www.klickongstworld.com\/blog\/rajasthan-commercial-tax-department-issues-circular-regarding-the-correct-submission-of-returns-under-gst\/","title":{"rendered":"Rajasthan Commercial Tax Department issues circular regarding the correct submission of returns under GST"},"content":{"rendered":"<p>The Rajasthan Commercial Tax Department has  issued&nbsp;GST <strong><em><a href=\"https:\/\/www.gstworld.co.in\/blog\/wp-content\/uploads\/2022\/05\/Rajasthan-circular.pdf\" target=\"_blank\" rel=\"noopener\">Circular  No. 01\/2022 dated April 05, 2022<\/a><\/em><\/strong>&nbsp;regarding  the correct submission of returns under GST.<\/p>\n<p>The Section 53 of CGST Act\/RGST Act and  Section 17, 18 of the IGST Act read with the Goods and Services Tax Settlement  of Funds Rules, 2017 provides for the manner of cross utilization of IGST or  may be of SGST and apportionment of IGST between Centre, States and within  State for the purpose of settlement or transfer of funds from the Centre to  State or vice versa.<\/p>\n<p>The transfer of funds as prescribed under the  law rests upon the correct disclosure of Input Tax Credit (ITC) of IGST on the  account of interstate inward supplies or import supplies of goods or services.  The incorrect disclosure of the same may result in short settlement of transfer  of funds to the state. The fund transfer and apportionment is mainly based on  the information provided by the taxpayer in GSTR-3B returns on the GSTN Portal  and therefore, the importance of correctness of information\/data of GSTR-3B  cannot be undermined.<\/p>\n<p>It has come to the notice that in some  instances, the taxpayers have not disclosed ineligible ITC in GSTR-3B on  account of IGST paid on inward interstate supply and import supplies which  might have culminated in short transfer of IGST funds to the state. The  taxpayers are required to declare the ITC correctly in the monthly return  GSTR-3B. The eligible ITC is auto populated in Table 4 of GSTR-3B which can be  edited by the taxpayer. In this context, attention is drawn towards the  provisions of Rule 42 or as the case may be Rule 43 wherein the taxpayers have  to report the reversal of ITC in Table 4(B)(1) and any other reversal or  reversal as per the provisions of rule 37 shall be reported in Table 4(B)(2).  Moreover the ineligible ITC as per the provisions of Section 17(5) has to be  reported in Table 4(D)(1) whereas the Table 4(D)(2) shall include the ineligible\/blocked  credit as per the provisions of Section 17(4) of the CGST\/RGST Act read with  Rule 38 and shall also include other ineligible ITC like ITC availed wrongly in  the previous period etc.<\/p>\n<p>In light of the above, all the taxpayers who  have not furnished details of ineligible ITC or have furnished the details of  ineligible ITC partially or have not reported the reversal of ITC fully or  partially in the returns filed for the F.Y 2021-22 shall report it in the  annual return to be filed in GSTR-9 whereas for the F.Y 2022-23 onwards, the  details of ineligible ITC or partial details of ineligible ITC or reversal of  ITC which has not been reported fully or partially shall be reported in the  subsequent GSTR-3B to be filed by giving net effect in that return.<\/p>\n<p>Therefore the taxpayers must ensure that they  follow the guidelines of the circular precisely and file the subsequent  periodic returns in GSTR-3B correctly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>2022\/05\/gst-rajasthan.jpg<\/p>\n","protected":false},"author":1,"featured_media":7303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts\/7302"}],"collection":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/comments?post=7302"}],"version-history":[{"count":1,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts\/7302\/revisions"}],"predecessor-version":[{"id":7304,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/posts\/7302\/revisions\/7304"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/media\/7303"}],"wp:attachment":[{"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/media?parent=7302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/categories?post=7302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.klickongstworld.com\/blog\/wp-json\/wp\/v2\/tags?post=7302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}