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TMI BlogReturns in GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... stered as an Input Service Distributor, a person liable to deduct or collect the tax (TDS/TCS), a person granted Unique Identification Number. It is important to note that a taxpayer is NOT required to file all the types of returns. In fact, taxpayers are required to file returns depending on the activities they undertake. The GST Council has however recommended to ease the compliance requirements for small tax payers by allowing taxpayers with annual aggregate turnover up to ₹ 1.5 Crore to file details of outward supplies in FORM GSTR-1 on a quarterly basis and on monthly basis by taxpayers with annual aggregate turnover greater than ₹ 1.5 Crore. Further, GST Council has recommended to postpone the date of filing of Forms GSTR- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DAR Services 20th of the next month GSTR-6 Monthly return for an Input Service Distributor (ISD) Input Service Distributor 13th of the next month GSTR-7 Monthly return for authorities deducting tax at source Tax Deductor 10th of the next month GSTR-8 Monthly statement for E-Commerce Operator depicting supplies effecting through it. E-Commerce Operator 10th of the next month GSTR-9 Annual Return Registered Person other than an ISD, TDS/TCS Taxpayer, casual taxable person and Non-resident taxpayer. 31st December of next Financial Year GSTR-9A Simplified Annual Return under Composition Scheme Taxable Person opting for Composition Levy 31st December of next Financial Year GSTR-10 Final Return Taxable person whose registr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0th Feb 2018 Jan 2018 10th Mar 2018 Feb 2018 10th April 2018 Mar 2018 10th May 2018 GSTR-4 Taxpayers who have opted for Composition scheme to file every quarter Jul-Sep 2017 24th Dec 2017 GSTR-5 Non Resident Taxable Person to file every month Jul-Dec 2017 31st Jan 2018 GSTR-5A Taxpayers supplying OIDAR services from a place outside India to a non-taxable online recipient Jul-Dec 2017 31st Jan 2018 GSTR-6 Input Service Distributor Jul 2017 31st Dec 2017 Note: Due dates have not been notified for GSTR-2 and GSTR-3 for any of the months. That is, a taxpayer need not file GSTR-2 and GSTR-3 for any of the months from July 2017 until a notification is issued in this regard mentioning the due dates. Till such time, Form GSTR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 'NIL', the amount of late fee is ₹ 50/- per day (Rs. 25/- per day each under CGST & SGST Acts) An overview of GSTR-1, GSTR-2 and GSTR-3 The population of these returns is explained by the following graphic: NOTE: 1. Taxpayer's GSTR2 is auto-populated from the Suppliers' GSTR-1s 2. Taxpayer's GSTR3 is significantly auto-populated from his/her's GSTR1 and GSTR2 Return Filing Milestones: ITC Matching and Auto-Reversal: 1. It is a mechanism to prevent revenue leakage and to facilitate availment of eligible and rightful ITC by taxpayers. 2. The process of ITC Matching begins after the due date for filing of the return (20th). This is carried out by GSTN. 3. The details of every inward supply furnished by the taxable person (i.e. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e added to the output tax liability of the recipient in the month in which such duplication is communicated. 8. The recipient shall be liable to pay interest on the excess or duplicate ITC added back to the output tax liability of the recipient from the date of availing of ITC till the corresponding additions are made in their returns. 9. Re-claim of ITC refers to taking back the ITC reversed in the Electronic Credit Ledger of the recipient by way of reducing the output tax liability. Such re-claim can be made by the recipient only in case the supplier declares the details of invoice and/or Debit Notes in his valid return within the prescribed time-frame. In such case, the interest paid by the recipient shall be refunded to him by way of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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