Gst Return Filling

GST return must be filed by all persons having GST registration. In this article, we look at the different types of GST returns and the due dates.

About Gst Return Filing

The imported goods will also be charged integrated tax (IGST) in addition to Basic Customs Duty. IGST paid on imports will also be available as credit to the importer in further supplies. Besides, the Central Tax, State Tax/UT Tax and IGST, Compensation Cess under the GST (Compensation to States) Act, 2017 shall be levied on a few luxury goods,. The cess shall be available as credit for further payment of cess.

Now let us see who all are liable to pay GST. The following categories of persons will be liable to pay GST

  • 1. Persons registered under GST and making taxable supplies under GST.
  • 2. Persons registered under GST required to make payment of tax under reverse charge mechanism.
  • 3. E-Commerce operators registered under GST and through whom certain categories of notified supplies are made.
  • 4. Persons registered under GST and required to deduct Tax (TDS).
  • 5. E-Commerce Operators registered under GST and required to collect tax (TCS)
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In general, the registered supplier of goods or services will need to pay GST. However, in specified cases like imports and other notified supplies, the liability will lie on the recipient under the reverse charge mechanism. "Reverse Charge" means the liability to pay tax on the recipient of taxable supplies instead of the supplier. Further, in some notified cases of intra-state supply of services, the liability to pay GST may be cast on e-commerce operators through which such services are supplied.

GST being a tax on the event of "supply", every supplier making taxable supplies needs to get registered. However, small businesses having All India aggregate turnover below Rupees 20 lakh (Rs.10 lakhs in Assam, Arunachal Pradesh, Manipur, Mizoram, Sikkim, Meghalaya, Nagaland, Tripura, Uttrakhand and Himachal Pradesh) need not register under GST .

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The question which arises now is how does GST define aggregate turnover? The aggregate turnover includes all supplies made by the supplier including on behalf of his principals, but excludes the value of job-worked goods. However, persons engaged exclusively in the business of non-taxable or exempt supplies or an agriculturist, to the extent of supply of produce out of cultivation of land are not liable to register under GST. A registered person who receives goods and services from an un-registered person will be liable to pay tax on such receipt of supply.

Small businesses having turnover below the threshold limit can, however, voluntarily opt to register, pay taxes and comply like a normal taxpayer. On doing so, the business shall be eligible for taking credit on all purchase made and shall also be able to pass on the credit of taxes paid by him to his customer.

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Under GST, certain government establishments will be required to deduct tax (TDS) from the amounts paid by them to the suppliers. The tax would be deducted @2% of the payment made to the supplier (the deductee) of taxable goods or services or both, where the total value of such supply, under a contract, exceeds two lakhs and fifty thousand rupees. Thus, individual supplies may be less than Rs. 2,50,000/-, but if contract value is more, TDS will have to be deducted.

The GST Act also places responsibility on the e-commerce operators to collect tax at source, where goods and services are supplied through them. The price/consideration for the product is collected by the Operator from the consumer and passed on to the seller after deducting his commission by the Operator. The Government has placed the responsibility on the Operator to collect the 'tax' at a rate to be notified [but not more than 1%] from the seller. This shall be done by the Operator by paying the seller the price of the product, less the tax, calculated at the rate specified/notified by the Government. This tax will be the specified percentage of the net value of the goods/services sold. The e-commerce operators have to remit such tax collected at source with the Government.

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Types of Gst Returns And Due Dates

GST return must be filed by all persons having GST registration. In this article, we look at the different types of GST returns and the due dates.

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GSTR-| Return

Due on 10th of Every Month

Form GSTR-1 or return of outward supplies is normally due on the 10th of every month. For the month of July 2017, GSTR 1 is due on the 10th of October. The GSTR 1 due date for all other months will be announced by the GST Council shortly.

In GSTR 1 return, details of Invoices, debit notes, credit notes and revised invoices issued in relation to outward supplies made during the tax period must be provided. This e-return can be filed online on the GST portal or using LEDGERS GST Software within 10 days from the end of the tax period. The registered person shall not be allowed to furnish any details of outward supplies during the period from the eleventh day to the fifteenth day of the month succeeding the tax period. Content of GSTR-01 (a) GSTN, Name & Period (b) Aggregate turnover in previous FY (c) Invoice/ consolidated level details of outward supply Supply to RD: Invoice Level Supply to URD (Inter state)

In GSTR 1 return, the details of all invoices issued by the taxpayer that are B2B or B2C large must be uploaded to the GSTN. Know more about procedure for uploading invoices to GSTN.

The details of FORM GSTR-1 furnished by the supplier will be made available to the recipients in PART-A of FORM GSTR-2A, Form GSTR 4A and in Form GSTR-6A.

GSTR-|| Return

Due on 15th of Every Month

GSTR 2 or return of inward supplies must be filed before the 15th of each month. In GSTR 2, the return for outward supplies filed by the supplier the receiver is required to match his receipts with the details of supplies filed by the supplier. The receiver is required to - verify, validate, modify or even delete, if necessary - the details furnished by the suppliers.

Any modification, deletion or inclusion of inward supplies by the receiver in his inward return i.e. FORM GSTR-2 will be communicated to the Outward supplier which will be visible to them as GSTR 1A.

GSTR-||| Return

Due on 20th of Every Month

GSTR 3 or monthly GST return is due on the 20th of every month. Part A of GSTR 3 return will be automatically generated based on information furnished through FORM GSTR-1, FORM GSTR-2 and based on other liabilities of preceding tax periods. The taxpayer can discharge his liability towards tax, interest, penalty, fees or any other amount payable under the Act or the provisions of this Chapter by debiting the electronic cash ledger or electronic credit ledger and include the details in Part B of the return in FORM GSTR-3.

GSTR-IV Return

Quarterly Return for Composition Suppliers Due on 18th

GSTR 4 or GST quarterly return for composition supplier is due 18 days from the end of quarter. Hence, GSTR 4 return will be due on 18th April, 18th July, 18th October and 18th January. Based on details contained in FORM GSTR-4A, and where required, after adding, correcting or deleting the details, the taxpayer can file the quarterly return in FORM GSTR-4.

GSTR-V Return

Monthly Return for Non-Resident Taxable Persons

GSTR 5 return must be filed by persons registered under GST as a non-resident taxable person before the 20th and within 7 days from last day of registration. In GSTR-5, the taxpayer must file information and details of outward supplies and inward supplies.

GSTR-VI Return

Monthly Return for Input Service Distributors

GSTR-6 return must be filed by persons registered as an Input Service Distributor on or before the 13th of every month. Based on FORM GSTR-6A, the taxpayer can file the return after adding, correcting or deleting the details, furnish return, containing the details of tax invoices on which credit has been received and those issued.

GSTR-VII Return

Monthly Return for Tax Deductors

GSTR-7 return must be filed by persons registered under GST for TDS. GSTR-7 return is due on or before the 10th of every month. The details furnished in Form GSTR-8, will be made available in Part C of Form 2A and Form 4A to other taxpayers.

GSTR-VIII Return

Monthly Return for ECommerce Operator

GSTR-8 return must be filed by E-Commerce Operator on or before the 10th of every month. E-Commerce operators must provide details of outward supplies of goods or services or both made through it, including the supplies returned through it and the amount collected by it. Details furnished by ecommerce operators will be made available to each of the suppliers in Part C of FORM GSTR-2A.

GSTR-IX Return

Annual GST Return

GSTR-9 return or annual GST return must be filed by taxpayers on or before the 31st of December. GSTR-9 return need not be filed by those registered under composition scheme, nonresident taxable persons, casual taxable persons, TDS deductors, TCS collectors. In case the annual turnover is more than Rs.2 crores the annual return filed by the taxpayer must be audited by a Chartered Accountant or Cost Accountant.

GSTR-X Return

Final GST Return

GSTR 10 or final GST return must be filed within 3 months from the date of cancellation of GST registration.

GSTR-XI Return

GST Return for UIN Holders

Form GSTR-11 or GST return for UIN holders must be filed by persons having UIN under GST to claim refund of taxes paid on his inward supplies.

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Types Of Gst In India- CGST, SGST, IGST AND UTGST

India is currently going through major reforms in its overall economic sectors. The growth trajectory of India is so high that it is poised to become the third-largest economy of the world by 2030. Government is taking significant initiatives to boost the overall economic growth of the country. Introduction to GST and its 3 types- CGST, SGST, IGST AND UTGST are effectively supporting such major economic development programs. GST stands for Goods and Services Tax. It is considered as the biggest taxation reform in the history of Indian economy. It will subsume multiple taxes like VAT, Service Tax, CST, excise and additional excise duty, entertainment and luxury tax, etc. It is a single uniform taxation system which will help in eliminating time, cost and effort. GST is introduced in the parliament as The Constitution Amendment Act 2016 and it is regulated by the Union Finance Ministry of India. It is a consumption based tax levied on the supply of goods and services which mean that it will be imposed at each stage of sale or purchase of goods or services based on the input tax credit method.

  • 1. Central Goods & Service Tax (CGST)
  • As per the Central Goods & Services Tax Act 2016, CGST is the centralized part of GST that subsumes the present central taxations and levies- Central Sales Tax, Central Excise Duty, Services Tax, Excise Duty under Medical & Toiletries Preparation Act, Additional Excise Duties Countervailing Duty (CVD), Additional Custom Duty and other centralized taxations. CGST is applicable on the supply of goods and services of standard services and commodities which can be amended periodically by a specialized body under the central government. The revenue collected under CGST belongs to the central government. The input tax is given to the state governments which they can utilize only against the payment of CGST.

  • 2. State Goods & Services Tax (SGST)
  • SGST is an important part of GST. It stands for State Goods & Services Tax as per the 2016 GST bill. Various taxations and levies under the state authority are subsumed by SGST as one uniform taxation. It includes the amalgamation of State Sales Tax, Luxury Tax, Entertainment Tax, Levies on Lottery, Entry Tax, Octroi and other taxations related to the movement of commodities and services under state authority through one uniform taxation- SGST.

    Revenue collected under SGST belongs to the State Government. However, the mainstream framework of the state governing body will be supervised by the central government. Each state will be having their own State Authority to collect SGST.

  • 3. Integrated Goods & Services Tax (IGST)
  • GST focuses on the concept of one tax, one nation. IGST stands for Integrated Goods and Services Tax which is charged on the supply of commodities and services from one state to another state. For example, if the supply of goods and services occurs between Gujarat and Maharashtra, IGST will be applicable.

    Under Article 269A of the Indian Constitution, the inter-state trade and commerce activities that involve the movement of commodities and services shall be levied with an integrated tax (IGST) under the GST regime. The Government of India will collect the revenue under IGST. Further changes can be made by the Goods and Services Tax Council of India.

  • 4. Union Territory Goods & Services Tax (UTGST)
  • As we have already learned about CGST and SGST which are intra-state taxations and IGST which is inter-state, the union territories in India are accounted under a specialized taxation called Union Territory Goods and Services Tax as per the GST regime 2016. It will subsume the various taxations, levies and duties with one uniform taxation in Union Territories as well.

    Delhi (India's Capital Territory), Chandigarh, Dadra & Nagar Haveli, Andaman & Nicobar Islands, Daman & Diu, Lakshadweep and Puducherry are the prominent union territories in India. UTGST will account for all the taxations under these union territories in India. The parliament is looking forward to implement a separate act to impose and supervise GST in Union Territories under the name of UTGST act. The bill will be presented in respective union territories for further changes in the implementation of GST.

Gst State Code

GST will surely boost the country's economic growth and ease of doing business in overall industrial sectors. The significant types- CGST, SGST, IGST and UTGST will provide a smooth mechanism of tax collection for the respective central, state and union territory governments of India. It will begin a new phase in India's economy by providing logistics and supply chain efficiency and state-based parity that the country requires the most.

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SERIAL NO

STATE NAME

STATE CODE

1
JAMMU AND KASHMIR
1
2
HIMACHAL PRADESH
2
3
PUNJAB
3
4
CHANDIGARH
4
5
UTTARAKHAND
5
6
HARYANA
6
7
DELHI
7
8
RAJASTHAN
8
9
UTTAR PRADESH
9
10
BIHAR
10
11
SIKKIM
11
12
ARUNACHAL PRADESH
12
13
NAGALAND
13
14
MANIPUR
14
15
MIZORAM
15
16
TRIPURA
16
17
MEGHLAYA
17
18
ASSAM
18
19
WEST BENGAL
19
20
JHARKHAND
20
21
ODISHA
21
22
CHATTISGARH
22
23
MADHYA PRADESH
23
24
GUJARAT
24
25
DAMAN AND DIU
25
26
DADRA AND NAGAR HAVELI
26
27
MAHARASHTRA
27
28
ANDHRA PRADESH(BEFORE DIVISION)
28
29
KARNATAKA
29
30
GOA
30
31
LAKSHWADEEP
31
32
KERALA
32
33
TAMIL NADU
33
34
PUDUCHERRY
34
35
ANDAMAN AND NICOBAR ISLANDS
35
36
TELANGANA
36
37
ANDHRA PRADESH (NEW)
37
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