Sunday, 8 January 2017

Section-33. Furnishing details of inward supplies

                      Section-33.              Furnishing details of inward supplies


(1) Every registered taxable person, other than an input service distributor or a nonresident
taxable person or a person paying tax under section 9, section 46 or
section 56, shall verify, validate, modify or, if required, delete the details relating
to outward supplies and credit or debit notes communicated under sub-section (1) of 
section 32 to prepare the details of his inward supplies and credit or debit
notes and may include therein, the details of inward supplies and credit or debit
notes received by him in respect of such supplies that have not been declared by
the supplier under sub-section (1) of section 32.

(2) Every registered taxable person, other than an input service distributor or a nonresident
taxable person or a person paying tax under the provisions of section 9,
section 46 or section 56 , shall furnish, electronically, the details of inward
supplies of taxable goods and/or services, including inward supplies of goods or
services on which the tax is payable on reverse charge basis under this Act and
inward supplies of goods and/or services taxable under the IGST Act, and credit
or debit notes received in respect of such supplies during a tax period after the
tenth but on or before the fifteenth day of the month succeeding the tax period
in such form and manner as may be prescribed:

PROVIDED that the Commissioner may, for valid and sufficient reasons, by
notification, for such class of taxable persons as may be specified therein, extend the
time limit for furnishing such details:

PROVIDED FURTHER that any extension of time limit approved by the Commissioner
of [Central/State] Goods and Services Tax shall be deemed to be approved by the
Commissioner of [State/Central] Goods and Services Tax.

(3) The details of supplies modified, deleted or included by the recipient and
furnished under sub-section (2) shall be communicated to the supplier concerned
in the manner and within the time as may be prescribed.

(4) The details of supplies modified, deleted or included by the recipient in the return
furnished under sub-sections (2) or (4) of section 34 shall be communicated to
the supplier concerned in the manner and within the time as may be prescribed.

(5) Any registered taxable person, who has furnished the details under sub-section (2) for 
any tax period and which have remained unmatched under section 37 or
section 38, shall, upon discovery of any error or omission therein, rectify such
error or omission in the tax period during which such error or omission is noticed
in such manner as may be prescribed, and shall pay the tax and interest, if any,
in case there is a short payment of tax on account of such error or omission, in
the return to be furnished for such tax period:

PROVIDED that no rectification of error or omission in respect of the details
furnished under sub-section (2) shall be allowed after furnishing of the return under
section 34 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.

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