What are the various returns prescribed under the GST Laws? (PART-3)
What are the various returns prescribed under the GST Laws? (PART-3)
Ans.
Non-Resident Foreign Taxpayer [GSTR-5] [Sec. 39(5) CGST Act]
“Non-Resident taxable persons” means any person who occasionally undertakes transactions involving the supply of goods or services or both, whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India.
Due date and form of return
Non-resident shall furnish the return, electronically through the Common Portal, either directly or through a Facilitation Centre, in Form GSTR-5 within 20 days after the end of a calendar month or within 7 days after the last day of the validity period of registration, whichever is earlier.
Deposit of Tax
Non-resident tax person shall pay the tax due as per such return not later than the last date on which he is required to furnish Form GSTR-5.
Rectification of return
If the registered person after furnishing Form GSTR-5 discovers any omission or incorrect particulars therein, he shall rectify such omission or incorrect particulars in the return to be furnished for the month during which such omission or incorrect articulars are noticed, subject to payment of interest under the GST Law. Such rectification, however, is not permitted after the due date for furnishing of return for the month of September following the end of the financial year, or the actual date of furnishing or relevant annual return, whichever is earlier.
ISD Return [GSTR-6] [Sec. 39(4) CGST Act]
“Input Service Distributor” (ISD) means an office of the supplier of goods or services or both which receives tax invoices towards the receipt of input services and issues a prescribed document for the purposes of distributing the credit of central tax, State tax, integrated tax paid on the said services to a supplier of taxable goods or services or both having the same Permanent Account Number as that of the said office.
(1) Option to add receipts not declared by counterparty supplier if in possession of taxable invoice and have received a supply of goods or services.
(2) Following information shall be auto-populated in Form GSTR 6A:
(I) Inward supplies from registered persons (to be auto-populated from counterparty GSTR-1 and GSTR-5).
(II) Details of credit/debit notes.
(3) ISD shall, after adding, correcting or deleting the details contained in Form GSTR-6A, furnish the return in Form GSTR-6 electronically through the Common Portal, either directly or through a Facilitation Centre within 13 days after the end of the month.
(4) Rectification of return: If the registered person after furnishing Form GSTR-6 discovers any omission or incorrect particulars therein, he shall rectify such omission or incorrect particulars in the return to be furnished for the month during which such omission or incorrect particulars are noticed, subject to payment of interest under the CGST Act.
Such rectification, however, is not permitted after the due date for furnishing of return for the month of September following the end of the financial year, or the actual date of furnishing of relevant annual return, whichever is earlier.
