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Non-Resident foreign taxpayers are those suppliers who do not have a business establishment in India and have come for a short period to make supplies in India.
GSTR- 5: A Non-resident taxable person is required to file the details of purchase and sales in GSTR-5. All other business details of the non-resident in India along with purchase and sales are reported in GSTR-5.
Periodicity and Due Date: GSTR-5 is to be filed on monthly basis by 13th of next month.
Availment of Input Tax Credit: A non-resident taxpayer can avail input tax credit only on goods imported from overseas however cannot avail ITC on local procurements and import of services from outside India.
Late Fees and Penalty: Rs. 50 per day for the days of default (Rs. 20 per day in case of NIL Return), Maximum upto Rs 5,000. Interest is levied @ 18% p.a. for the days of default.
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