Levy of late fee (1) Any registered person who fails to furnish the details of outward or 1[***] supplies required under section 37 1[***] or returns required under section 39 or section 45 2[or section 52] by the due date shall pay a late fee of one hundred rupees for every day during which such failure continues subject to a maximum amount of five […]

Notice to return defaulters Where a registered person fails to furnish a return under section 39 or section 44 or section 45, a notice shall be issued requiring him to furnish such return within fifteen days in such form and manner as may be prescribed. *Enforced w.e.f. 1st July, 2017.  

Final return Every registered person who is required to furnish a return under sub-section (1) of section 39 and whose registration has been cancelled shall furnish a final return within three months of the date of cancellation or date of order of cancellation, whichever is later, in such form and manner as may be prescribed. *Enforced w.e.f. 1st

Annual return Every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person shall furnish an annual return which may include a self-certified reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year, with the

Procedure for furnishing return and availing input tax credit. Enforced w.e.f. 22nd June, 2017. 1. Omitted (w.e.f. 1st October, 2022 vide Notification No. 18/2022 – CT dated 28.09.2022) by s. 107 of The Finance Act 2022 (No. 6 of 2022) for (1) Notwithstanding anything contained in sub-section (2) of section 16, section 37 or section 38, every registered person shall in

Matching, reversal and reclaim of reduction in output tax liability. Enforced w.e.f. 22nd June, 2017. Omitted (w.e.f. 1st October, 2022 vide Notification No. 18/2022 – CT dated 28.09.2022) by s. 107 of The Finance Act 2022 (No. 6 of 2022) for (1) The details of every credit note relating to outward supply furnished by a registered person (hereafter in this section

Matching, reversal and reclaim of input tax credit * Enforced w.e.f. 22nd June, 2017. Omitted (w.e.f. 1st October, 2022 vide Notification No. 18/2022 – CT dated 28.09.2022) by s. 107 of The Finance Act 2022 (No. 6 of 2022) for (1) The details of every inward supply furnished by a registered person (hereafter in this section referred to as the “recipient”) for

Availment of input tax credit (1) Every registered person shall, subject to such conditions and restrictions as may be prescribed, be entitled to avail the credit of eligible input tax, as self-assessed, in his return and such amount shall be credited to his electronic credit ledger. (2) The credit of input tax availed by a

First return Every registered person who has made outward supplies in the period between the date on which he became liable to registration till the date on which registration has been granted shall declare the same in the first return furnished by him after grant of registration. *Enforced w.e.f. 1st July, 2017. Practice area’s of

Furnishing of returns (1) Every registered person, other than an Input Service Distributor or a non-resident taxable person or a person paying tax under the provisions of section 10 or section 51 or section 52 shall, for every calendar month or part thereof, furnish, a return, electronically, of inward and outward supplies of goods or services or both, input tax credit