GST return types and due datesPosted by ICS Admin Under On October 19, 2018
|Return Form||Particulars||Frequency||Due Date|
|GSTR 1||Details of outward supplies of taxable goods and/or services effected||Monthly||10th of the next month|
|GSTR 2||Details of inward supplies of taxable goods and/or services effected claiming input tax credit.||Monthly||15th of the next month|
|GSTR 3||Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of amount of tax.||Monthly||20th of the next month|
|GSTR 3B||Simple return for Jul 2017- Mar 2018||Quarterly||20th of the next month|
|GSTR 4||Return for compounding taxable person||Monthly||18th of the month succeeding quarter|
|GSTR 5||Return for Non-Resident foreign taxable person||Monthly||20th of the next month|
|GSTR 6||Return for Input Service Distributor||Monthly||13th of the next month|
|GSTR 7||Return for authorities deducting tax at source.||Monthly||10th of the next month|
|GSTR 8||Details of supplies effected through e-commerce operator and the amount of tax collected||Monthly||10th of the next month|
|GSTR 9||Annual Return||Annually||31st December of next financial year|
|GSTR 9A||Annual Return||Monthly||31st December of next financial year|
|GSTR 10||Final Return||Once. When registration is cancelled or surrendered||Within three months of the date of cancellation or date of cancellation order, whichever is later.|
|GSTR 11||Details of inward supplies to be furnished by a person having UIN and claiming refund||Monthly||28th of the month following the month for which statement is filed|
What are the tax ratesPosted by ICS Admin Under On
Tax rate ranges from 5% to 28%
Composition scheme under GSTPosted by ICS Admin Under On
Taxpayers whose aggregate turn over less than 75 lakhs can opt for Composition scheme.
In that case tax amount will be percentage basis on turnover without ITC benefit.
The rate of tax for CGST and SGST/UGST shall not be less than (1% for manufacturer & 0.5% in other cases; 2.5% for specific services – para 6 (b) of schedule II Viz food or any other article for human consumption
Who all are authorized to levy and administer GSTPosted by ICS Admin Under On
CGST and IGST – Centre Govt will levy and administer
SGST State Govt will levy and administer
UTGST- Union Territory will levy and administer
What are all the products/services taxable under GST?Posted by ICS Admin Under On
All goods and services are taxable except alcoholic liquor for human intake. Deliver of petroleum crude, high speed diesel, motor spirit (typically known as petrol), natural gas and aviation turbine gasoline will be taxable with effect from a future date. This date might be notified by the government after consultation with GST council.
Taxable event under GSTPosted by ICS Admin Under On
Taxable occasion below GST is deliver of products or services or each. CGST and SGST/ UTGST will be levied on intra-state elements. IGST could be levied on inter-state components
Who is vulnerable to pay GST beneath the proposed GST regime?Posted by ICS Admin Under On
Beneath the GST regime, tax is payable through the taxable person at the supply of goods and/or services. Legal responsibility to pay tax arises when the taxable person crosses the turnover threshold of Rs.20 lakhs (Rs.10 lakhs for NE and Special Category States) except in sure special cases wherein the taxable person is susceptible to pay GST despite the fact that he has now not crossed the threshold restrict.
The CGST / SGST is payable on all intra-states deliver of goods/services and igst is payable on all inter- state deliver of goods and/or offerings. the CGST /SGST and IGST are payable on the rates specified in the schedules to the respective acts.