GST Jamku AIFirst return
Section 40
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.
If you've recently registered for a service or business, it's essential to report any goods or services you've provided from the time you became liable for registration until your registration is approved. This reporting should be done in the initial tax return you submit after receiving your registration.
Reporting Outward Supplies: When you've officially become a registered individual or business, you need to disclose all the supplies you made during the period between the date you became liable for registration and the date when your registration was granted. These supplies should be clearly mentioned in the first tax return that you file post-registration.
Key Requirement: It's crucial to remember that every registered person must adhere to this requirement. Whether you're an individual or a business entity, reporting your outward supplies accurately and promptly is an integral part of complying with the registration process.
Timing of Reporting: The reporting obligation covers the time from when you first became liable for registration until the official grant of your registration. This means you should include all relevant information about the supplies made during this period in the initial tax return you submit after your registration is approved.
Conclusion: In summary, it's vital for newly registered individuals or businesses to fulfill their reporting responsibilities by declaring all outward supplies made from the date of becoming liable for registration until the registration is granted. This ensures compliance with the necessary regulations and contributes to a smooth and accurate tax filing process.