GST ANX-1

The new GSTR forms are intended towards simplifying the procedure of filing GST for smaller businesses that have an annual turnover of up to Rs. 5 crore. FORM GST ANX- is the ADDITION of outward supplies AND  imports and inward supplies attracting a reverse charge.

FORM GST ANX-1 is an annexure towards the main return GST RET-1 presented under the new filing system of simplified returns under GST. This annexure would comprise of details of all outward supplies, inward supplies liable towards reverse charge and import of goods and services. Details in this annexure are required to be reported invoice-wise (except for B2C supplies) depending on the continuous uploading facility to be made available on the GST portal. The reporting could be carried out on a real-time basis and would be available for the recipient of supplies to take required action in their FORM GST ANX-2.
 

The contents of FORM GST ANX-1
 
 

1.    GSTIN: A taxpayer is required to input the GSTIN.

2.    Basis details: Basic details like trade name, legal name, etc. would be auto-populated on the basis of the GSTIN.

3.    Details of outward supplies, inward supplies attracting a reverse charge and import of goods and services: The details that to be entered are- 

The taxpayers must know as they file their FORM GST ANX-1 that;

1.    The supplier could upload documents continuously and on a real-time basis.

2.    The documents issued in the course of a particular tax period or for any other prior period, which were uploaded by him in the current return filing period, would be accounted towards the tax liability of the supplier in whichever return these details have been uploaded.

3.    The recipient would get input tax credit during a tax period based on documents uploaded by the supplier till the 10th of the month following the month for which the return is being filed for, or the 10th of the month following the quarter in case of quarterly filers.

4.    The details of the documents uploaded by the supplier would be available for the recipient in FORM GST ANX-2 towards taking action such as to accept, reject or to keep the document pending.

5.    Supplies which attract reverse charge are required to be reported only by the recipient and not by the supplier in this annexure.

6.    The place of supply (POS) is required to be reported for all supplies and this requirement is mandatory. In the case of intra-State supplies, the POS would be the State in which the supplier is registered.

7.    The tax rate applicable to IGST supplies could be selected from a drop-down menu. For intra-State supplies, the tax rate would be half the tax rate of integrated tax, to be split equally amid Central tax and State / UT tax. Cess must be reported under the cess column if it is applicable.

8.    Wherever supplies are reported net of debit/credit notes, even if the values become negative in any particular case, the same could be reported as it is.

9.    Every supplier with an annual aggregate turnover over Rs 5 crores, and in relation towards imports, exports, and SEZ supplies have to upload HSN-level data, whereas other taxpayers (who has annual aggregate turnover up to Rs 5 crores) could report HSN codes on an optional basis in the relevant table, or leave the same blank.

10.    The tax amount would be computed by the system based on the taxable value and tax rate. The tax amount so computed cannot be edited, except by means of issuing debit/credit notes. Though, the amount under Cess would be reported by the taxpayer himself.

11.    Any documents rejected through the recipient would be conveyed to the supplier only after filing of the return by the recipient.

12.    The new return system provides for editing or amendment of details only from the supplier’s side. The recipient could reset, unlock or reject a document; however, the option to edit or amend a document would be made available towards the supplier only.

13.    The rejected documents could be edited before filing any subsequent return for any month or quarter by the supplier, and the credit of the same would be available towards the recipient in the next FORM GST ANX-2. The accountability for such edited documents would be accounted for in the tax period in which the supplier has uploaded the documents.

14.    In situations where the particulars of the document might be correct but the document was reported in the wrong table. THE documents towards WHICH appropriate table would be provided  A FACILITY OF SHIFTING in such cases so that these rejected documents could be shifted instead of needing to amend them.

15.    A supplier could, at any time, amend documents relating to supplies made towards individuals such as composition taxpayers, ISD, UIN holders, etc., and the same will not be dependent upon the action taken (accept/reject/pending) by the recipient.

16.    Documents belonging towards the previous period prior to the current return filing system could be uploaded in the relevant tables of this annexure. Only those details could be uploaded which have not been incorporated in the erstwhile FORM GSTR-1.

eStartIndia is the professional tech-based online and legal services that help the clients to simplify the procedures of all kinds of registration, implementation, tax concerns and any additional legal compliances and services related to the business in India.

Author:

eStartIndia Team