GST Return
[/et_pb_text][et_pb_text admin_label=”Text” background_layout=”light” text_orientation=”left” text_font_size=”15″ text_letter_spacing=”0.5px” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]In current tax system taxpayer have to file plenty of tax returns like service tax return, excise return, vat return etc ,therefore taxpayers have to devote most of their time in filing these returns. Now under GST they have to file less number of returns as there is single indirect tax law i.e GST.
Tax payers have to file following returns under GST:
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Outward supplies made by taxpayer (other than compounding taxpayer and ISD) to be filed by 10th of the next month.
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Inward supplies received by a taxpayer (other than a compounding taxpayer and ISD), to be filed by 15th of next month.
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Monthly return (other than compounding taxpayer and ISD), to be filed by 20th of the next month.
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Quarterly return for compounding Taxpayer, to be filed by 18th of the month next to quarter.
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Periodic return by Non-Resident Foreign Taxpayer Last day of registration.
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Return for Input Service Distributor (ISD), to be filed by 15th of the next month.
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Return for Tax Deducted at Source, to be filed by 10th of the next month.
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Annual Return, to be filed by 31st December of the next financial year. Every taxpayer either normal or compounding taxpayers have to file annual return except casual taxpayers, ISD, person deducting TDS.
[/et_pb_text]Note: Fee for late filing of return is Rs. 100 per day, maximum up to Rs. 5000.
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