Tag: #taxpayers

Goods and Services Tax Return-5 (GSTR-5)

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.

Tax Collection at Source by E-Commerce Operators under Section 52(1) of the GST Act [GSTR-8]

In India’s evolving GST framework, the digital commerce ecosystem has its own compliance architecture. GSTR-8 is one such compliance requirement designed specifically for e-commerce marketplaces that collect Tax Collected at Source (TCS). The form captures monthly transactional data—particularly the supplies executed through an online platform and the corresponding TCS deducted.

Input Service Distributor and GSTR-6

An Input Service Distribution is mechanism whereby a centralized office takes GST invoice for services availed by the branches. Centralized Office in such cases are called as Input Service Distributor (ISD).

Goods and Service Tax Return-5A (GSTR-5A)

OIDAR is a category of services provided through the medium of internet and received by the recipient online without having any physical interface with the supplier of such services.

Registration under Goods & Service Tax

Any business whose aggregate turnover exceeds the threshold limits or those who fall under the category of tax-payers mandatory to register under GST are required to get themselves register under GST.

Goods and Services Tax Return-7 (GSTR-7)

GSTR-7 is return filed by the taxpayers liable to deduct tax at source under GST.
TDS is to be deducted @ of 1% each for CGST and SGST from the payment made or credited to the supplier(deductee) of taxable goods or services or both, where the total value of such supply, under a contract, exceeds two lakh and fifty thousand rupees. In case of IGST, TDS is to be deducted @ 2%.

Goods and Services Tax Return-1 (GSTR-1)

GSTR-1 is the monthly / quarterly return for outward supplies (sales) made by a registered taxable person during the month / quarter (as the case may be).

Goods and Services Tax Return-3B (GSTR-3B)

GSTR-3B is the summary return to be filed by a registered taxable person for the details of outward supplies and inward supplies liable to reverse charge during the period.

GSTR-4 and CMP-08

A taxpayer registered under composition levy scheme has to pay an amount equal to certain fixed percentage of his annual turnover as tax to the government. This tax has to be paid on quarterly basis in Form GSTR-4.