Businesses registered under GST must file details of their outward and inward supplies every month. The law requires them to submit these details electronically in a prescribed format and within a fixed timeline. This process helps maintain transparency and ensures accurate tax credit flow.
Who Needs to File Outward Supply Details?
Every registered person must file outward supply details, except Input Service Distributors, non-resident taxable persons, and those who pay tax under the composition scheme or under TDS and TCS provisions. They must file the details on or before the 10th of the month following the tax period.
What Are The Conditions and Communication of Supply Details
The GST filing must follow prescribed conditions and restrictions. The system then communicates these details to the recipient. The Commissioner has the power to extend the deadline for specific groups through a written notification. If a State or Union Territory Commissioner grants an extension, it applies nationwide.
If a taxpayer finds any mistake in the return already filed, they can correct it as per the rules. They must also pay any short-paid tax and interest. However, no corrections are allowed after November 30 of the following financial year or after the annual return is filed, whichever comes first.
A taxpayer cannot file the return for the current period if returns for earlier periods are pending. The government may allow exceptions by issuing a notification. Filing is also restricted after three years from the due date unless the government permits it through special approval.
What Counts as Outward Supplies?
The term “details of outward supplies” includes invoices, debit notes, credit notes, and revised invoices issued during the tax period.
What About Inward Supplies and Input Tax Credit (Section 38)
The GST system also provides an auto-generated statement of inward supplies. This statement shows the input tax credit available and also highlights any ineligible credit. Credit restrictions apply if the supplier has delayed tax payments, availed excess credit, or mismatched the declared tax.
Conclusion
GST return filing is a legal responsibility for every registered taxpayer. Timely and accurate submission of supply details ensures smooth claim of input tax credit and avoids penalties. Businesses should follow deadlines and comply with filing rules to stay GST-compliant.