Basics of GST

Who is required to register under GST?

Mandatory Registration

The following categories of persons are mandatorily required to register under GST:

• Any person whose business turnover exceeds Rs. 20 Lakhs (10 Lakhs for North Eastern states, Jammu & Kashmir, Himachal Pradesh & Uttarakhand.)

   

• Person registered under the Pre-GST law (i.e. Excise, VAT, Service Tax etc)

   

• Casual taxable person making taxable supply

   

• Person required to pay tax on reverse charge

   

• Non-Resident taxable person making taxable supply

   

• Person required to deduct tax

   

• Input Service Distributor

   

• Person who supplies via e-commerce aggregator

   

• Every e-commerce aggregator

   

• Person supplying online information and database access or retrieval services from a place outside India to a person in India, other than a registered taxable person

   

Voluntary Registration

A person who is not required to be registered may get himself registered voluntarily and all provisions of the GST law applicable to a registered taxable person shall apply.

When is a person required to make an application for GST registration?

Every person who is required to be registered shall file an application within 30 days from the date on which he becomes liable to registration. For each state the person has to take separate registration.

For Example: If Raj has taxable supplies from Haryana, Punjab, Delhi, Rajasthan, West Bengal, Tamil Nadu, he has to take separate registration for each state.

Which application form to be filed for taking GST registration?

Application forms vary according to the needs of the taxpayer. Following is the list of application forms along with the details of forms in which registration certification is granted:

How many returns are there under GST Law?

Following are the returns under the GST law:

Who is required to furnish the GSTR -1?

Registered person shall be required to submit details of outward supplies other than the following registered person:

• Input Service Distributor

• Non-Resident Taxable Person

• Person paying tax under section 10 i.e. person opting for Composition Levy

• Person required to deduct tax at source i.e.person paying tax under section 51

• Person required to collect tax at source i.e.person paying tax under section 52

What details to be furnished in GSTR-1?

Following details are to be given in GSTR-1:

• Period for which return is being filed Like for April 2018 than it must be mentioned in return

• GSTIN number of Taxpayer

• Legal name of the registered person

• Trade Name if any

• Aggregate turnover in preceding financial year

• Taxable outward supplies made to Registered Persons (Including UIN holders).

• Taxable outward inter-state supplies made to Unregistered Person where invoice value exceed Rs.2.5 Lakhs.

• Debit /credit notes issued to registered taxpayers.

• Debit /credit notes issued to unregistered person.

• Zero rated supplies and deemed exported

• Amendment to details of Outward Supplies to a registered person of earlier tax periods.

• Amendment to details ofOutward Supplies made to unregistered person where value of invoice exceeds 2.5 Lakhs and the supply is inter-state of earlier tax period.

• Amendment to details of supplies exported of earlier tax period.

• Amendment to detail of debit /credit notes issued to registered taxpayers of earlier tax period.

• Debit /credit notes issued to unregistered person of earlier tax period.

• Taxable supplies (net of debit or credit notes) to unregistered person other than covered in point (vii).

• Nil rated, exempted and non-GST outward supplies

• Consolidated Statement of Advances Received/Advance adjusted in the current tax period/ Amendments of

• information furnished in earlier tax period

• HSN-wise summary of outward supplies

• Documents issued during the tax period

Who is required to furnish the GSTR-2?

Registered person shall be required to submit details of inward supplies other than the following registered person:

• Input Service Distributor

• Non-Resident Taxable Person

• Person paying tax under section 10 i.e. person opting for Composition Levy

• Person required to deduct tax at source i.e.person paying tax under section 51

• Person required to collect tax at source i.e.person paying tax under section 52

What details to be furnished in GSTR-2?

Following details are to be given in GSTR-2:

• Period for which return is being filed Like for April 2018 than it must be mentioned in return

• GSTIN number of Taxpayer

• Legal name of the registered person

• Trade Name if any

• Inward supplies received from a registered person other than the supplies attracting reverse charge

• Inward supplies on which tax is to be paid on reverse charge

• Inputs/Capital goods received from Overseas or from SEZ units on a Bill of Entry

• Amendments to details of inward supplies furnished in returns for earlier tax periods in Tables 3, 4 and 5 (including debit notes/credit notes issued and their subsequent amendments)

• Supplies received from composition taxable person and other exempt/Nil rated/Non-GST supplies received

• ISD credit received

• TDS and TCS Credit received

• Consolidated Statement of Advances paid/Advance adjusted on account of receipt of supply

• Input Tax Credit Reversal / Reclaim

• Addition and reduction of amount in output tax for mismatch and other reasons

• HSN summary of inward supplies

Who is required to furnish the GSTR -3?

Registered person shall be required to submit return in GSTR-3 other than the following registered person:

• Input Service Distributor

• Non-Resident Taxable Person

• Person paying tax under section 10 i.e. person opting for Composition Levy

• Person required to deduct tax at source i.e.person paying tax under section 51

• Person required to collect tax at source i.e.person paying tax under section 52

What details to be furnished in GSTR-3?

Following details are to be given in GSTR-3:

• Period for which return is being filed Like for April 2018 than it must be mentioned in return

• GSTIN number of Taxpayer

• Legal name of the registered person(Auto Populated)

• Trade Name if any(Auto Populated)

• Turnover which includes Taxable (other than zero rated), Zero rated supply on payment of Tax, zero rated supply without payment of Tax, deemed exports, Exempted, Nil Rated and Non-GST supply (Auto Populated).

• Outward supplies which includes Inter-State supplies (Net Supply for the month), Intra-State supplies (Net supply for the month) and tax effect of amendments made in respect of outward supplies (Auto Populated).

• Inward supplies attracting reverse charge including import of services (Net of advance adjustments) which includes Inward supplies on which tax is payable on reverse charge basis and tax effect of amendments in respect of supplies attracting reverse charge. (Auto Populated)

• Input tax credit which ITC on inward taxable supplies, including imports and ITC received from ISD (Net of debit notes/credit notes). (Auto Populated)

• Addition and reduction of amount in output tax for mismatch and other reasons. (Auto Populated)

• Total tax liability (Auto populated).

• Credit of TDS and TCS (Auto populated).

• Interest liability and Late Fees (Auto populated).

• Tax Payable and Paid

• Interest, Late Fee and any other amount (other than tax) payable and paid.

• Refund claimed from Electronic cash ledger.

• Debit entries in electronic cash/Credit ledger for tax/interest payment (to be populated after payment of tax and submissions of return)

Who is required to furnish the GSTR -3B?

Registered person shall be required to submit return in GSTR-3 other than the following registered person:

• Input Service Distributor

• Non-Resident Taxable Person

• Person paying tax under section 10 i.e. person opting for Composition Levy

• Suppliers of online information and database access or retrieval services (OIDAR), who have to pay tax themselves

What details to be furnished in GSTR-3B?

Following details are to be given in GSTR-3B:

• Period for which return is being filed Like for April 2018 than it must be mentioned in return

• GSTIN number of Taxpayer

• Legal name of the registered person (Auto Populated)

• Trade Name if any (Auto Populated)

• Detail of Outward Supplies and inward supplies liable to reverse charge which includes:

  • Outward Taxable Supplies (other than zero rate, nil rated and exempted)

  • Outward Taxable Supplies (zero rated)

  • Other outward supplies (Nil rated, exempted)

  • Inward supplies (liable to reverse charge)

  • Non- GST outward supplies

   

• Details of inter-state supplies made to unregistered persons, composition taxable person and UIN holders)

• Eligible ITC

  • ITC Available

  • ITC reversed

  • Net ITC Available

  • Ineligible ITC

   

• Value of nil rated, exempt and non-GST inward supplies

• Interest and Late Fee payable

Who is required to furnish the GSTR-4?

Registered person paying tax under section 10 i.e. person paying composition levy in lieu of tax.

What details to be furnished in GSTR-4?

Following details are to be given in GSTR-4:

• Period for which return is being filed Like for April 2018 than it must be mentioned in return

• GSTIN number of Taxpayer

• Legal name of the registered person (Auto Populated)

• Trade Name if any (Auto Populated)

• Aggregate Turnover in the preceding Financial Year

• Inward supplies including supplies on which tax is to be paid on reverse charge.

• Amendments to details of inward supplies furnished in returns for earlier tax periods in Table 4 (including debit notes/credit notes and their subsequent amendments).

• Tax on outward supplies made (Net of advance and goods returned).

• Amendments to Outward Supply details furnished in returns for earlier tax periods.

• Consolidated Statement of Advances paid/Advance adjusted on account of receipt of supply

• TDS Credit received

• Tax payable and paid

• Interest, Late Fee payable and paid

• Refund claimed from Electronic cash ledger

• Debit entries in cash ledger for tax /interest payment (to be populated after payment of tax and submissions of return)

Who is required to furnish the GSTR-5?

Registered non-resident person is required to file GSTR-5.

What details to be furnished in GSTR-5?

Following details are to be given in GSTR-5:

• Period for which return is being filed Like for April 2018 than it must be mentioned in return

• GSTIN number of Taxpayer

• Legal name of the registered person (Auto Populated)

• Trade Name if any (Auto Populated)

• Validity period of registration (Auto Populated)

• Inputs/Capital goods received from Overseas (Import of goods).

• Amendment in the details furnished in any earlier return.

• Taxable outward supplies made to registered persons (including UIN holders).

• Taxable outward inter-State supplies to un-registered persons where invoice value is more than Rs 2.5 lakh.

• Taxable supplies (net of debit notes and credit notes) to unregistered persons other than the supplies mentioned in Point no. ix.

• Amendments to taxable outward supply details furnished in returns for earlier tax periods (including debit note/credit notes and amendments thereof).

• Amendments to taxable outward supplies to unregistered persons furnished in returns for Earlier tax periods.

• Total tax liability

• Tax payable and paid

• Interest, late fee and any other amount payable and paid

• Refund claimed from electronic cash ledger

• Debit entries in electronic cash/credit ledger for tax/interest payment [to be populated after payment of tax and submissions of return

Who is required to furnish the GSTR-6?

Taxable person registered as Input Service Distributor shall be required to file GSTR-6.

What details to be furnished in GSTR-6?

Following details are to be given in GSTR-6:

• Period for which return is being filed Like for April 2018 than it must be mentioned in return

• GSTIN number of Taxpayer

• Legal name of the registered person

• Trade Name if any

• Input Tax Credit received for distribution

• Total ITC/Eligible ITC/Ineligible ITC to be distributed for tax period

• Distribution of input tax credit

• Amendments in information furnished in earlier returns

• Input tax credit mis-matches and reclaims to be distributed in the tax period

• Distribution of input tax credit

• Redistribution of ITC distributed to a wrong recipient

• Late Fee

• Refund claimed from electronic cash ledger

Who is required to furnish the GSTR-7?

Registered person required to deduct tax under section 51 shall be required to file GSTR-7.

What details to be furnished in GSTR-7?

Following details are to be given in GSTR-7:

• Period for which return is being filed Like for April 2018 than it must be mentioned in return

• GSTIN number of Taxpayer

• Legal name of the registered person (Auto Populated)

• Trade Name if any (Auto Populated)

• Details of tax deducted at source

• Amendments to details of tax deducted at source in respect of any earlier tax period

• Tax deduction at source and paid

• Interest, late Fee payable and paid

• Refund claimed from electronic cash ledger

• Debit entries in electronic cash ledger for TDS/interest payment (to be populated after payment of tax and submissions of return)

Who is required to furnish the GSTR-8?

Registered person who made supplies through e-commerce operator are required to file GSTR-8.

What details to be furnished in GSTR-8?

Following details are to be given in GSTR-8:

• Period for which return is being filed Like for April 2018 than it must be mentioned in return

• GSTIN number of Taxpayer

• Legal name of the registered person (Auto Populated)

• Trade Name if any (Auto Populated)

• Details of supplies made through e-commerce operator

• Amendments to details of supplies in respect of any earlier statement

• Details of interest

• Tax payable and paid

• Interest payable and paid

• Refund claimed from electronic cash ledger

• Debit entries in cash ledger for TCS/interest payment (to be populated after payment of tax and submissions of return)

Who is required to furnish the GSTR-9?

Registered person shall be required to submit the annual return form 9 other than the following registered person:

• Input Service Distributor

• Casual Taxable person

• Non-Resident Taxable Person

• Person paying tax under section 10 i.e. person opting for Composition Levy

• Person required to deduct tax at source i.e.person paying tax under section 51

• Person required to collect tax at source i.e.person paying tax under section 52

Who is required to furnish the GSTR-9A?

Registered person who has opted for composition scheme shall be required to submit the annual return form 9A.

Who is required to furnish the GSTR-10?

Registered person shall be required to submit final return other than the following registered person:

• Input Service Distributor

• Non-Resident Taxable Person

• Person paying tax under section 10 i.e. person opting for Composition Levy

• Person required to deduct tax at source i.e.person paying tax under section 51

• Person required to collect tax at source i.e.person paying tax under section 52

By Lovish Goyal 7/2/2018 2:07:21 PM