GST return types and due dates

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GST return types and due dates

Posted 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

 


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What are the tax rates

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Tax rate ranges from 5% to 28%


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Composition scheme under GST

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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


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Who all are authorized to levy and administer GST

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CGST and IGST – Centre Govt will levy and administer
SGST State Govt will levy and administer
UTGST- Union Territory will levy and administer


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What are all the products/services taxable under GST?

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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.


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Taxable event under GST

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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


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Who is vulnerable to pay GST beneath the proposed GST regime?

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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.


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How we can proceed with work with you for business plan

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You can simply drop a mail to info@jnjexperts.com or leave a message in chatbox, We will get back to you as soon as we can(if you need assistance in package selection or if you have other questions to ask).You can also directly order through the packages to start with.Please drop a message on info@jnjexperts.com once you completed the payment stating the same.


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What are your qualifications ?

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We’re all experienced entrepreneurs. Many have MBAs from top schools and some have PhDs in scientific areas. Most importantly, we have proven track records. Brief biographies of our consultants can be found here in “our team” web page


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