Compiler on Section 40 - First return by Registered Person

40.1 Declaration of outward supplies made before date of registration in first GSTR-1

Question No.	Institute	Level	Term	QN	M
Question-1	ICMAI	I	D19	7c	5
Question-2	ICMAI	F	J19	5a(ii)	2

Question-1 [ICMAI-I-D19-7c-3]

Write short notes on First GST return and subsequent rectification of errors in GST returns.

Answer

First Return:

As per section 40 of the CGST Act, 2017 every registered person who has made outward supplies in the period between the dates on which he became liable to registration till the date on which registration had been granted shall declare the same in the first return furnished by him after grant of registration.

Rectification of errors in Returns:

The mechanism of filing revised returns for any correction of errors/omissions has been done away with. The rectification of errors/ omissions is allowed in the subsequent returns.

However, no rectification is allowed.

➢ after furnishing the return for the month of September following the end of the financial year to which, such details pertain,

➢ or furnishing of the relevant annual return,

➢ whichever is earlier.

Question-2 [ICMAI-F-J19-5(a)(ii)-2]

Mr. X a registered person in Mumbai has made outward supplies of taxable goods as under:

Mr X has become liable for registration on 1^st Oct, 2018. He wad granted registration on 1^st Jan, 2019.

(i) Supplies made from 1^st Apr, 2018 to 30^th Sep, 2018 Rs. 19,50,000

(ii) Supplies made from 1^st Oct, 2018 to 31^st Dec, 2018 Rs. 8,00,000

(iii) Supplies made from 1^st Jan, 2019 to 31^st Jan, 2019 Rs. 2,00,000

The first return furnished by Mr X is for the month of Jan, 2019. What is the taxable turnover to be declared in the return filed for Jan, 2019.

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Compiler on Section 40 - First return by Registered Person