Directives for compliances to be undertaken prior to filing of returns for tax period of September 2021 – RBA No. 50/2021

Directives for compliances to be undertaken prior to filing of returns for tax period of September 2021 – RBA No. 50/2021

Directives for compliances to be undertaken prior to filing of returns for tax period of September 2021 – RBA No. 50/2021

(भारत सरकार) GOVERNMENT OF INDIA
(रेल मंत्रालय) MINISTRY OF RAILWAYS
(रेलवे बोर्ड) RAILWAY BOARD

GST Matter/Most Immediate

RBA No. 50/2021
GST Circular No. 26/2021

No. 2016/AC-II/1/6/Main (Pt. III)

8th September 2021

General Managers,
All Zonal Railway/Production Units

Sub: Directives for compliances to be undertaken prior to filing of returns for tax period of September 2021

It may be recalled that, as per the provisions of GST Act and rules made thereunder, certain activities/compliances in respect of a Financial Year (FY) need to be strictly adhered to before or at the time of filing of returns for tax period of September following the end of such year.. Thus, in respect of FY 2020-21, below mentioned activities/compliances shall be adhered to by the respective Zones/Units before filing of GST returns (ie. FORM GSTR-1 and FORM GSTR-3B) for tax period of September 2021:

1. Availment of pending Input Tax Credit (ITC)

All the invoices and debit notes for inward supplies pertaining to F¥.2020-21 on which ITC has not been availed i.e. bills dated FY 2020-21 which are yet to be booked in IPAS or any other application group, shall be checked and uploaded so as to ensure that eligible ITC in respect of such invoices is availed in FORM GSTR-3B latest for the month of September 2021. It shall be subject to fulfilment of other prescribed conditions as prescribed under the GST Law.

Read also |  Establishment of New Railway Zone – South Coast Railway (SCoR) with headquarters at Visakhapatnam

2. Reconciliation of ITC with FORM GSTR-2A/GSTR-2B

To reiterate, eligible ITC in respect of inward supplies shall be claimed post undertaking reconciliation with FORM GSTR-2A/GSTR-2B.Further, ITC in respect of inward supplies pertaining to FY 2020-21 shall be reconciled with FORM GTR-2A/GSTR2B and thereafter be availed latest by filing of FORM GSTR-3B of September 2021 and subject to fulfillment of other notified conditions.

3. Furnishing of pending details of documents issued pertaining to outward supplies

GST Credit Notes
Any cancelled ticket, railway receipt or any other document against which refund has been issued during F.Y. 2020-21on the basis of GST Credit Note and are pending to be reported in respective GST Returns (FORM GSTR-1 and/or FORM GSTR-3B) till date, must be reported by respective Zones/Units under FORM GSTR-1 and FORM GSTR-3B before the month of September 2021. This needs to be effected in order to ensure adjustment of respective GST liability.

Invoices, Revised Tax Invoices and Debit Notes
Any invoices, revised invoices and debit notes with respect tooutward supplies effectuated during FY 2020-21 but the details of which have not yet been reported in returns under FORM GSTR-1 and/or FORM GSTR-3B till date, the same shall be reported by respective Zones/Units under FORM GSTR-1 and FORM GSTR-3B on or before the tax period of September 2021. Also, in case tax liabilities have not been discharged with respect to such documents in FORM GSTR-3B, interest implication may arise at the rate of 18 % per annum.

Read also |  Payment of family pension, death gratuity and other dues to the family on the death of a Railway servant during service

4. Amendment to documents issued pertaining to outward supplies

Any correction required in respect of any document issued such as invoices, debit notes, credit notes etc. in respect of supplies effectuated during FY 2020-21 shall be undertaken under FORM GSTR-1 and/or FORM GSTR-3B, as the case may be, at the time of filing of such returns before the month of September 2021. Any adjustment to GST liability may accordingly be done along with payment of interest at 18% p.a. (in case of short reporting), wherever applicable.

5. Finalization of ITC reversed on monthly basis in respect of exempted supplies

ITC attributable to supply of exempted goods or services, which have been reversed on a monthly basis during F.Y. 2020-21shall be finalized latest by 30th September 2021.

If the amount reversed on monthly basis is in excess of the finally calculated amount, the excess reversed credit shall be claimed before filing of return for tax period of September 2021.However, if the amount reversed on monthly basis is short of the amount finally calculated, the difference in amount shall be reversed under FORM GSTR- 3B or through FORM GST DRC-03 for tax period of September2021 and such differential amount shall be paid with interest @ 18% p.a. for the period beginning from 1st April, 2021 till date of payment. All the Railways/ Units may take necessary action accordingly, within the stipulated timelines in consultation with their GST consultants and ensure aforementioned compliances

Read also |  Grant of Leave to Probationary officers appearing in CSE/ESE – Railway Board

(Sanjeev Sharma)
OSD/Accounts
Railway Board

Copy to:-

  1. PFAs, All Zonal Railways and Production Units
  2. All EDs, ED level empowered Committee, Railway Board
  3. All Directors of GST Cell, Railway Board
  4. MD, CRIS, Chanakyapuri New Delhi
  5. GM/F/GSTM and GM/AIMS

Source: Click here to view/download PDF

COMMENTS