#oidar

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Digital Services gst: GST on digital services: Budget 2023-24 broadens scope of OIDAR

The availability of cheaper and feature-rich cell phones along with the penetration of low-cost internet in rural India fuelled by the Digital India campaign, has pushed service providers to transform the way services are delivered and as a result, the players in advertising, media, education and gaming have grown exponentially over the last few years. Considering the size of the Indian market and growing demand in these sectors, several overseas entities are investing in India and rendering services digitally to Indian customers.The levy of tax on Online information and Database Access Service (OIDAR) was introduced in India in 2001 under the erstwhile service tax regime and in 2016 the ambit of services was widened to include several digital services into the tax fold. In July 2017, the GST law borrowed the provisions governing OIDAR from the service tax law.OIDAR is a category of services provided digitally through the medium of the internet and received by the recipient without a physical interface with the supplier of such services. The nature of OIDAR is such that it can be provided online from even a remote location outside India to a customer in India. The GST law defines OIDAR in clear terms and also enlists certain illustrative services such as advertising, cloud services, e-books, movie, music, software, data/information retrieval services, data storage and online gaming services rendered through online/internet mediums. Any overseas supplier involved in the rendition of such services to a customer in India shall follow a simplified registration process under the GST law, either directly or through the appointment of a representative in India and follows routine monthly compliances.The Government as part of the amendments proposed in the Union budget 2023-24 has broadened the scope of OIDAR services, by removing the term ‘essentially automated and involving minimal human intervention’ from the definition of OIDAR services. This would essentially mean that even if the services are not totally automated and involve human interactions through online/internet mediums for the rendition of services, the services will get qualified as OIDAR services.It would be important to highlight that several overseas educational institutions started conducting online education programs and considered their services as not qualifying under the OIDAR category as the education courses involved regular human interactions. However, the proposed amendment in the definition of OIDAR services would require such overseas service providers to revisit their tax position.In addition to the above amendment, the Union budget 2023-24 has also amended the definition of ‘non-taxable online recipient’, wherein the scope has been widened. The proposed amendment would make OIDAR services taxable in the hands of the overseas supplier (or intermediary as applicable) if any unregistered person or persons registered under Section 51 of the CGST Act in India, receives OIDAR services for any purpose.Any overseas entity rendering services to customers in India would be required to conduct the following key tests to determine the taxability of the transactions in India under the OIDAR provisions:- Whether the transaction qualifies as an OIDAR - Whether the entity qualifies as a ‘Non-Resident Taxable Person’ in India - Whether the services are rendered to any person who is not a GST registrant in India or to a person registered solely for deducting tax under section 51 of the CGST Act - Whether services are rendered by the overseas service provider directly through its website to end customers located in India - Whether the digital services are rendered through applications downloadable through third-party app - Whether GST is discharged by a third-party app service provider on behalf of the overseas entity - Create awareness - The lack of awareness of the OIDAR provisions is a key challenge that compels GST authorities to issue notice to demand tax, interest, and penalty on overseas suppliers. Several overseas suppliers were issued notices to their dismay where tax along with interest and penalty were recovered for non-compliance. In some instances, certain overseas entities have decided to discontinue services to a customer in India due to unexpected tax costs. To tackle this challenge, the Government shall establish a suitable system and robust technology to monitor the supply of OIDAR upfront and create awareness among overseas entities rendering services to customers located in India. This would enable the overseas service provider to remit GST by appropriately collecting the taxes from the customers, rather than bearing GST and rendering the business infeasible. - Challenges involved in registration, tax payment and compliances – Allow overseas suppliers to obtain a GST registration with the least possible documentation and convert the existing monthly compliance requirement to quarterly or half yearly to reduce the compliance burden. - Amnesty or tax settlement process – Provide an amnesty or tax settlement mechanism to overseas businesses engaged in the supply of OIDAR. The companies who had not collected taxes from end customers due to a lack of awareness may be afforded a onetime dispute settlement option for the initial years of GST, which would encourage them to come clean with respect to past dues. While ‘Ignorance of the law is no excuse’, the purpose and object of the law are not to multiply ignorant defaults or loose/delay revenue! It reminds us that ‘there is a true law, right reason, agreeable to nature, known to all men, constant and eternal, which calls to duty by its precepts, deters from evil by its prohibition’.The writer is Associate Partner - Indirect Tax, BDO India. ETRise MSME Day 2022 Mega Conclave with Industry Leaders. Watch Now. Source link Read the full article

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Indirect Tax

Recent changes in Indirect Tax

Indirect taxes are taxes that are assessed by Government on goods and services, rather than on individualities or businesses directly. These taxes are collected by businesses from consumer when they buy goods or services, and also remitted to the government. Indirect taxes are often referred to as consumption taxes because they are based on consumption of goods and services rather than income or wealth. Indirect taxes can take many forms, including sales taxes, value-added taxes (VAT), excise taxes, and tariffs.

During the Union Budget of 2023 “Amrit Kaal”, It was the very first time when the indirect tax proposals were presented before the direct tax proposals. In the Proposal of indirect tax Presented in the Union Budget of 2023 there were 4 major changes which caught the attention of the citizens.

Following are the 4 major changes:

Customs Perspective:  In the Union Budget, to promote the ‘Make in India’ campaign and give to a boost to domestic manufacturing and enhance exports, the government and our FM has proposed few changes in the rate of import duties. The import duties on electric chimneys and cigarettes will now be more expensive, while on the other hand import of gold, silver, platinum, coin, etc., will be cheaper. Also, some exemption has been proposed towards goods or machinery used for manufacturing of lithium-ion battery.

GST Returns To Be Filed Within Three Years:  GSTR 1, GSTR 3B and GSTR 9and GSTR 9C would now be restricted for filing, post expiry of three years from the due date of filing of the relevant GST return. Until now, there was no threshold on time for filing GST return and any taxpayer could file belated returns along with interest and late fees. However, going forward, in future these dates have been locked so as to have clarity on the timelines for litigation.

Widening of Scope of OIDAR:  The Online Information and Database Access and Retrieval (OIDAR) services were brought under the tax bracket in the service tax regime and subsequently, in the GST regime. However, due to some exceptions in OIDAR and non-taxable online recipient, multiple services were escaping tax. In order to remove those exceptions, the Budget proposes to amend both the definitions and make OIDAR a wider segment for taxability purpose.

Taxability of High Sea Sales and Out-And-Out Sales: Out-and-out sales and high-sea sales were inserted in schedule III of the CGST Act, 2017 with effect from Feb. 1, 2019. However, the GST authorities were demanding GST from July 1, 2017 to Jan. 31, 2019. So to clarify this ambiguity and confusion, the budget has stated that such insertion will be with retrospective effect from July 1, 2017. This is a relief for taxpayers who are undergoing a litigation on these aspects. However, if the taxpayer has already paid the taxes for such period on the specified sales, the Budget has clearly specified that no refund of such tax can be claimed.

Although there are other changes as well but from Tax perspective the above 4 are major changes.

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Union Budget 2024: Streamlining Indirect Tax Compliances - Expectations and Challenges

With the Union Budget 2024 set to be presented on July 23, taxpayers and industry experts alike are keenly anticipating changes aimed at streamlining indirect tax compliances, particularly concerning the Goods and Services Tax (GST) and Customs procedures. Saloni Roy, Partner at Deloitte India, sheds light on the current challenges and expected amendments that could significantly impact the tax landscape.

Simplifying GST Compliance

The GST was introduced to simplify India’s tax regime, but taxpayers still face several hurdles. Here are some of the key challenges and expected changes:

Registration Complications

GST registration requires a set of prescribed documents. However, during the application scrutiny, authorities often demand additional documents not listed under the law, such as notarised copies of No Objection Certificates (NOC) or original lease deeds. This leads to delays and additional burdens on taxpayers. A more streamlined and consistent approach to documentation could alleviate these issues.

Biometric Aadhaar Authentication

Currently, key managerial personnel (KMPs) must visit facilitation centres for biometric Aadhaar authentication, which is both time-consuming and cumbersome. A potential solution is allowing KMPs to complete this process at any facilitation centre nationwide, reducing the travel burden and expediting the registration process.

Tax Payments by Overseas Taxpayers

The rise of e-services has expanded the taxpayer base under GST, particularly for online information database access and retrieval (OIDAR) services. However, the process for overseas taxpayers to remit GST payments via Indian intermediary banks is slow and prone to delays. Establishing a more efficient payment system through overseas banks could streamline this process and ensure timely tax remittance.

Addressing IGST Payment Delays

When importing goods, the payment of Integrated Goods and Services Tax (IGST) is made on the ICEGATE portal. However, delays in reflecting these payments on the GSTN portal result in discrepancies in Form GSTR-2B, causing automated notices to be sent to taxpayers. Enhancing the data transmission process between ICEGATE and the GST portal would mitigate these issues.

Challenges in Claiming Input Tax Credit (ITC)

One major challenge under GST is ensuring that vendors have remitted the GST to the government. Currently, there is no online mechanism for buyers to verify this, making it difficult to comply with ITC conditions. Developing a system to track vendor payments would reduce the risk of unwarranted litigation and ease the compliance burden on genuine taxpayers.

Additionally, ITC is often denied when a vendor’s GST registration is cancelled retrospectively. Implementing a real-time tracking system for vendor registration status could prevent such issues and ensure fair treatment of buyers.

Improving Customs Procedures

Customs procedures also face several challenges, and the Budget 2024 is expected to address these:

SVB Investigation Timelines

The Special Valuations Branch (SVB) of Customs often takes years to conclude investigations on imports from related parties, leading to provisional imports and the need for continuous bond submissions. Establishing a clear timeline for SVB investigations and adhering to it would expedite the process and reduce the burden on importers.

Digitisation of Customs

Despite advancements in the clearance of goods, some Customs processes remain manual, such as filing refund applications and replies to notices. Moving these processes online, similar to GST compliances, would save time and align with the ‘Digital Bharat’ mission.

Parting Thoughts

The Union Budget 2024 is poised to set the course for India’s economic trajectory over the next five years. By addressing the aforementioned challenges and streamlining tax compliances, the government can further its goal of making India the fastest-growing economy in the world. Stakeholders are hopeful that the upcoming budget will introduce measures that simplify procedures, reduce litigation, and promote ease of doing business.

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What to Consider Before Applying for GST?

Businesses must first determine whether they are eligible to register under the most recent indirect tax scheme before beginning the online GST registration process. Any individual or group involved in commercialized business must follow the New GST Registration and Eligibility Criteria since it allows the proprietary to discharge taxes and claim the input tax credit. Certain firms must complete online GST registration. It will face harsh fines if it does business without registration. According to the GST Council, a business entity must meet the GST filing requirements before registering for GST online.

So, in this article, we have explained what the GST qualifying criteria are and how ECS Accounting can assist you further in filing GST efficiently and conveniently.

What exactly is meant by GST registration?

The Goods and Services Tax (GST) is an indirect tax levied when purchasing goods or services for consumption. It is also a value-added tax imposed on services. Furthermore, businesses that provide services and sell commodities must contribute equitably to the GST. GST removes the cascading effect of indirect taxes. Furthermore, it consolidates a variety of various central and state indirect taxes to increase revenue for the government. Similarly, online GST registration entered into effect in April 2017 and required registration from all qualifying businesses.

What are the eligibility criteria for GST filing?

Individuals registered under laws such as excise, VAT, service tax, etc. that were in force previous to the adoption of the GST

Supplier's representatives, distributors of input services, and brokers or e-commerce operators

People who pay taxes using the GST registration reverse charge process

A firm with a turnover that exceeds the 20 lakh rupee mark. The maximum allowed for regions like Jammu and Kashmir, Himachal Pradesh, Uttarakhand, and the North Eastern Indian states is ten lakh rupees.

Any business engaged in the supply of goods with an annual revenue above Rs. 20 lakhs for states in the Special category and Rs. 40 lakhs for states in the Normal category.

Any business offering services with an annual turnover above Rs. 10 lakhs for states in the Special category and Rs. 20 lakhs for states in the Normal category.

If a registered business is transferred to another party or dissolves, the transferee must apply for online GST registration from the date of the transfer.

A person provides online information and database access or retrieval services from a location outside India to a person in India who is not a registered taxable person.

A person making interstate supplies and offering online information and database access or retrieval (OIDAR) solutions to an individual in India who is not a registered taxable person from a place outside India.

Contact ECS Accounting for GST registration in Chennai or any place in Tamil Nadu, India! You will not only be able to complete online GST registration but you will also be supported throughout the entire procedure. All of this may be done for a reasonable GST registration price. We also provide services in the Financial, Accounting, Legal, and Taxation domains!

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What are the different types of compulsory registration under GST?

The different types of compulsory registration under GST

Under Section 24 of the Central Goods and Services Tax Act 2017, certain categories are required to obtain compulsory registration as outlined below:

Casual Taxable Person: This refers to entities or individuals engaged in taxable activities sporadically or infrequently. Any business entity occasionally involved in taxable supply of goods and services must obtain GST registration.

Non-resident Taxable Person: Non-residents selling goods and services, whether as agents or principals, and lacking a fixed place of business in India are obligated to register for GST if they engage in taxable supply within the taxable territory, irrespective of transaction amount or frequency.

E-Commerce Operator: Individuals or entities managing digital platforms for buying and selling goods and services online must obtain compulsory GST registration, regardless of turnover.

Aggregate Turnover: Businesses exceeding an annual turnover of 40 lakhs in goods supply or 20 lakhs in service supply are mandated to register for GST. However, this threshold is reduced to 10 lakhs in certain states such as those in the northeastern and hill regions.

Inter-State Supply: Registration under GST is mandatory for entities engaged in inter-state supply, where the supplier's location and place of supply differ. Obtaining a GST number is essential before commencing inter-state supplies.

Taxpayers under Reverse Charge Mechanism: Individuals liable under the reverse charge mechanism must register for GST unless their aggregate turnover falls below the exemption limit. Under this mechanism, the recipient of goods and services is responsible for paying all applicable provisions and taxes.

OIDAR (Online Information Database Access and Retrieval) Services: Compulsory GST registration is required for services provided over the internet where there is no physical interface between the seller and buyer.

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GST Registration for OIDAR Services

Introduction

The term OIDAR services, which stands for Online Information and Database Access or Retrieval services, pertains to services provided through the internet or electronic networks with minimal human involvement. The increasing adoption of cloud technology and software-as-a-service (SaaS) products in India has led to the inclusion of a broad range of services within the OIDAR services classification. This article provides an overview of OIDAR services and their impact on the Goods and Services Tax (GST) in India.

What are OIDAR Services?

According to the Integrated Goods and Services Tax (IGST) Act, OIDAR services encompass services delivered through information technology over the internet or electronic networks, with minimal human intervention. These services rely on automation and are only possible with the use of technology. Examples of OIDAR services include online advertising, cloud services, distribution of e-books and digital content, data storage, online gaming, and more.

GST Registration for OIDAR Service Providers

All businesses that provide OIDAR services are required to register for Goods and Services Tax (GST) in India, irrespective of their income and whether they are based within or outside the country. OIDAR service providers fall into various categories that necessitate GST registration. This includes businesses offering services across multiple states, those engaged in electronic commerce, and non-resident service providers. Therefore, even if you are a service provider situated outside of India but catering to Indian residents, GST registration is still mandatory.

GST Registration Process for OIDAR Service Providers

The process of registering for Goods and Services Tax (GST) as an OIDAR service provider varies depending on the location of your business, whether within or outside India.

GST Registration for OIDAR service providers based in India:

Access the GST common portal: Visit the official GST common portal (https://www.gst.gov.in/) which serves as the platform for GST registration and related services.

Create a GST account: If you don’t have an account on the GST portal, create one by providing necessary details like your name, contact information, and email address.

Navigate to the registration form: Log in to your GST account and go to the registration section to access the registration form.

Fill in the required details: Provide accurate information about your OIDAR services, business specifics, and contact details to complete the registration form. Ensure that all mandatory fields are filled.

Attach supporting documents: Upload essential supporting documents such as copies of the promoter’s valid passport, tax identification number, unique identification number issued by the foreign government, or PAN.

Submit the application: Review the provided information and submit your GST registration application through the portal.

For OIDAR service providers located outside India:

Obtain Form GST REG-10: Download Form GST REG-10 from the GST common portal or obtain it from authorized sources.

Complete the form: Fill in the necessary details in Form GST REG-10, including information about your OIDAR services, business specifics, and contact information.

Attach supporting documents: Gather required documents such as a self-attested copy of the promoter’s valid passport, tax identification number, unique identification number issued by the foreign government, or PAN.

Appoint a representative: If you lack a physical presence in India, appoint a representative who will handle your GST registration, return filing, and compliance obligations on your behalf.

Submit the application: To complete your application, please submit the filled Form GST REG-10 and the necessary supporting documents via the GST common portal. Electronic submission is required.

Timeline: Ensure that you submit the GST registration application at least five days before commencing your business operations in India.

To file GST return online, you need to log in to the official GST portal and select the suitable return form based on your business. Enter the necessary details, such as sales, purchases, and input tax credits. Validate and preview the return to ensure accuracy, then submit it and make the tax payment if there is any liability. Remember to keep a record of the generated Acknowledgement Reference Number (ARN). In case there were no transactions during the specified period, you can file a Nil return. It is crucial to file within the specified due dates to avoid penalties. By following these steps, you can easily file your GST return online and fulfill your compliance obligations.

Summary

To summarize, the rise of cloud technology has led to the widespread adoption of OIDAR services in India. It is essential for OIDAR service providers to comprehend the implications of GST on their operations and ensure compliance with tax regulations. By obtaining GST registration and fulfilling their GST return filing obligations, OIDAR service providers can effectively navigate the legal requirements associated with delivering services in India. Adhering to GST regulations not only facilitates a streamlined and transparent tax system for OIDAR service providers but also contributes to the overall progress and advancement of the digital economy.

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What is GST Filing Return?

A GST Filing Return is a document that contains all GST invoices, incomes/receipts, sales, purchases, and expenses/payments that a GST registered taxpayer is required to intimate tax administrative authorities. 

The taxpayer needs to declare all the transactions related to the revenue of the business based on which authorities will calculate the amount of tax to be paid by the company.

Every registered taxpayer paying GST is required to furnish an electronic return every month. The different type of GST return filing demands the taxpayer to disclose the following details:

Outward Supplies (i.e., Sales/ Incomes/ Receipts)

Inward Supplies (i.e., Purchases/ Payments)

GST on Output and Input

Other Particulars as may be asked for in the Return

What Are the Different Types of GST Filing Return?

There are around 22 types of GST filing return Forms out of which only 11 are active, 8 are view-only and 3 are suspended. However, taxpayer file returns based on the type of registration obtained.

Return Form

Description

Frequency

Due Date

GSTR-1

Details of outward supplies of taxable goods or services

Monthly

11th of the next month

IFF (optional by taxpayers under the QRMP scheme)

Details of B2B supplies of taxable goods or services

Monthly (for the first two months of the quarter)

13th of the next month

GSTR-3B

Summary of outward supplies and purchases, along with tax to be paid by the taxpayer

Monthly

20th of the next month

CMP-08

Details of summary of outward supplies and import of goods or services by taxpayers who are registered under the composition scheme

Quarterly

18th of the month succeeding the quarter

GSTR-4

Return to be filed by taxpayer under composition scheme

Annually

30th of the month succeeding a financial year

GSTR-5

Return to be filed by non-resident taxable person

Monthly

20th of the next month (Amended by 13th by Budget 2022, yet to be notified by CBIC)

GSTR-5A

Return to be filed by non-resident OIDAR service providers

Monthly

20th of the next month

GSTR-6

Return of Input tax distributor to distribute input tax among its branches

Monthly

13th of the next month

GSTR-7

Return to be filed by person deducting Tax at Source (TDS)

Monthly

10th of the next month

GSTR-8

Return to be filed by e-commerce operators

Monthly

10th of the next month

GSTR-9

Annual Return by regular taxpayer

Annually

31st December of the next financial year

GSTR-9C

Self-certified reconciliation statement

Annually

31st December of the next financial year

GSTR-10

Filed by person whose GST registration is cancelled

Once, when GST registration is surrendered or cancelled

Within 3 months from the date of cancellation or date of cancellation order, whichever is later.

GSTR-11

Details of inward supplies to be furnished by a person having UIN and claiming a refund

Monthly

28th of the month following the month for which statement is filed

ITC-04

Return to be filed by principal/ job worker

Annually (for AATO up to Rs. 5 crore)

25th April where AATO is up to Rs. 5 crores

Half-Yearly (for AATO > Rs. 5 crore)

25th October and 25th April where AATO exceeds Rs. 5 crores (AATO = Annual Aggregate Turnover)

Procedure to File GST Return

The Online filing of GST return involves following steps:

Step 1: Go to www.gst.gov.in

Step 2: Based on the taxpayer's state code and PAN a 15-digit Alphanumeric number will be issued.

Step 3: Upload the invoice, against each invoice a reference number will be issued

Step 4: After uploading the invoices file the outward returns, inward returns and cumulative monthly returns.

Step 5: File the outward supply return in GSTR-1 on or before 10th of the next month

Step 6: The outward return furnished by the vendor/supplier can be viewed in GSTR-2A

Step 7: Taxpayer has to verify, validate and modify the details of the outward supplies

Step 8: Upload the details of inward supplies of goods and services in GSTR-2 form

Step 9: The supplier can either accept or reject the modification of details of inward supplies as shown in GSTR-1A.

How to download GST return forms?

Step 1: Login to GST Portal

Step 2: Go to Services < Returns < Return Dashboard Step 3: Choose year and month from the drop-down list

Step 4: Hit ‘Prepare Offline’

Step 5: Click on ‘Download’ and then click on ‘Generate File’

Step 6: Click on ‘Click Here’ and download the excel file

How to Check Status of GST Returns?

To check GST Return Status online, follow the below steps:

Step 1: Go to www.gst.gov.in

Step 2: Enter the login ID and Password

Step 3: After logging in click on Services > Returns > Track Return Status

Step 4: Select ‘Status of Return’ from the drop-down list

Step 5: Click on Search Button

Step 6: The status may show “To be Filed/ Submitted Not Filed/ Filed-Valid/ Filed- Non-Valid”

Late Fees for not filing GST Returns

If the GST Return is not filed within the prescribed time, the taxpayer needs to pay late fees and interest. Interest is charged at 18% per annum. It has to be calculated on the outstanding tax amount.

Taxpayer category

Late Fees

Taxpayer whose total amount of central tax payable is NIL

Rs. 250

Taxpayer with an annual turnover of Rs. 1.5 crore in the previous financial year

Rs. 1000

Taxpayer whose annual turnover exceeds Rs. 1.5 crore and up to Rs. 5 crores in the previous financial year

Rs. 2500

Note:

Taxpayers should know that an equal penalty will be applied under SGST. There are no late fees under IGST.

Benefits of Filing GST Return

1. Timely Submission – We submit your returns within 5 days from the date of submission of all details so there is no chance of penalties.

2. Expert Consultation – Get GST Consultation on call

3. Save Money – we offer professional services at affordable prices.

4. Reminder – We also send reminders to the clients / customers much before the due date of any return.

5. In-house team of professionals – We have a team of professionals and do not sub let your work to others.

Things to Remember: Interest Charges and Penalties for Late Payments

The government must levy a fine on taxpayers and others. If they are late with their payment, they can still file GST filing returns. For every month that a GST Return is late, a fine of 200 can be assessed. The CGST and SGST Act may allow for this.

As per this, late payers can be charged a penalty of 100 for SGST and 100 for CGST. However, the same Act states that if a taxpayer pays their taxes after the GSTR 3 return deadline, the government cannot impose a fine of more than 5000. The interest rate on tax debt is currently set at 18% per year. The interest rate is calculated only on the entire tax bill. Also taken into account is the time between the tax return being filed and the tax being paid.

Frequently Asked Questions

What is a GST Return?

GST Return is a document that contains all GST invoices, incomes/receipts, sales, purchases, expenses/payments that a GST registered taxpayer is required to intimate tax administrative authorities

I am an E-commerce operation. Do I need to file any different GST Returns?

Yes, e-commerce operators who allow other suppliers to sell goods or services through their portals are required to file form GSTR-8. Those who use their own portal to sell goods or services need not file this return.

What is the purpose of filing a GST return?

For finalizing the tax liabilities within the stipulated time

To declare tax liability for a given period

Management of audit and anti-evasion programs for tax administration

Who needs to file a GST return?

Every registered person crosses the threshold limit.

Does the taxable person need to upload anything in GSTR-2 or everything is auto-populated from GSTR-1?

Most parts of GSTR-2 will be auto-populated but some parts like details of imports, purchases from non-registered or composition suppliers and exempt/non-GST/nil GST supplies, etc., can be filled by the recipient only.

Is it compulsory for the taxpayer to file the return by himself?

No, A registered taxpayer can get his return filed through Tax Return Preparer duly authorized by Central or the State tax administration or through an advocate, company secretaries, or chartered accountant.

Does GSTR-1 need to be filed even if there is no business activity in the period?

Yes, it needs to be filed even if there is no business activity in the period.

Can the period of filing of returns be changed by the taxpayer?

Yes, it can be changed once at the time the first return of the financial year is filed.

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GST Registration Requirements for Different Types of Businesses

The Goods and Services Tax (GST) is a comprehensive indirect tax system that was introduced in India on 1st July 2017. GST has replaced all the previous indirect taxes that were levied by the central and state governments. Under the GST regime, businesses are required to apply gst registration for themselves and comply with various rules and regulations. In this article, we will discuss the GST registration requirements for different types of businesses.

GST Registration Requirements for Small Businesses

Small businesses with an annual turnover of up to Rs. 40 lakhs are exempted from GST registration. However, if a small business is engaged in inter-state supplies or is selling through an e-commerce platform, it is required to register for GST, regardless of its turnover. This is known as the GST composition scheme. Businesses registered under this scheme are required to pay a fixed percentage of their turnover as tax and are not eligible for input tax credit.

GST Registration Requirements for Regular Businesses

Regular businesses are required to register for GST if their annual turnover exceeds Rs. 40 lakhs. However, businesses engaged in special categories such as e-commerce or providing online information and database access or retrieval (OIDAR) services are required to register for GST, regardless of their turnover.

In addition, businesses that are involved in inter-state supplies are required to register for GST, even if their turnover is below Rs. 40 lakhs. It is important to note that businesses that are registered under GST are required to file monthly, quarterly, or annual returns, depending on their turnover and type of registration.

GST Registration Requirements for E-Commerce Businesses

E-commerce businesses that are involved in selling goods or services through an online platform are required to apply gst registration online, regardless of their turnover. E-commerce operators are also required to register for GST if they are collecting payment on behalf of the seller.

Under the GST regime, e-commerce businesses are classified as either an electronic commerce operator (ECO) or a supplier. An ECO is defined as any person who owns, operates, or manages an electronic platform that facilitates the supply of goods or services. A supplier is defined as any person who supplies goods or services through an electronic platform.

GST Registration Requirements for Exporters

Exporters are required to register for GST if they want to claim a refund of the GST paid on their inputs. This is known as the GST refund scheme for exporters. Under this scheme, exporters are required to file a refund application along with the necessary documents to claim a refund of the GST paid on their inputs.

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GST Registration Requirements for Service Providers

Service providers are required to register for GST if their annual turnover exceeds Rs. 20 lakhs. Service providers who are engaged in inter-state supplies are required to register for GST, regardless of their turnover.

It is important to note that service providers who are registered under GST are required to collect and pay GST on their services. Service providers are also required to file monthly, quarterly, or annual returns, depending on their turnover and type of registration.

Conclusion

In conclusion, businesses in India are required to register for GST based on their annual turnover and the type of services they provide. apply online gst registration requirements for different types of businesses can be confusing, but it is important for businesses to comply with the rules and regulations under the GST regime to avoid penalties and legal complications. If you are unsure about the GST registration requirements for your business, it is recommended that you consult a professional tax consultant or a chartered accountant.

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Different GST Returns Filed By Taxpayers With Due Dates | Ebizfiling

 Introduction

All registered Taxpayers are required to file GST returns. The tax return forms known as GST returns should be filed by companies to the Income Tax authorities of India. The GST return is filed monthly, quarterly and annually, depending upon which GST return you are filing. In this blog let us study the different GST return to be filed by taxpayers.  

 Different GST return filed by the taxpayer 

GSTR 1- In this return, the details of the outward supply of goods and services are filed by the taxable suppliers. It is filed every month. Such details should be furnished in an electronic statement by the registered taxpayer. The due date for filing the GSTR 1 is on or before the 11th of the succeeding month. Details of invoices, debit notes, revised invoices and credit notes issued during the tax period etc. should be included in the GSTR 1.

When the registered supplier opts the QRMP scheme, the GSTR 1 is filed quarterly. In this return, taxable suppliers file the details of outwards supply of goods and services. The due date to file GSTR 1 quarterly is different and that is on or before 13th of the succeeding month following the quarter end.

GSTR 2- This return is filed by the registered taxable recipients who fill in the details of inward supplies of taxable goods and services in order to claim Input Tax Credit. The taxpayer has to file this return on or before 15th of the next month.

GSTR 3- This return is filed monthly by the registered taxpayer on the basis of the completion of details of inward supplies and outward supplies with the payment of the amount of tax. Every taxpayer should file the GSTR 3 on or before 20th of the subsequent month.

GSTR 3B- In this return, the details of tax collected on outward supplies and details of tax paid on input supplies are included. It should be noted that no invoice-level details are included in this return. The taxpayer files a NIL return if there was no business activity is performed for such period of tax. This return is filed monthly by the taxpayer but the due date differs on the income in the previous financial year. There are 3 cases which are as follows:

A taxpayer whose total income is more than INR 5 crore in the previous financial year, the due date is 20th of the next month.

A taxpayer whose business is situated in Chhattisgarh, Madhya Pradesh, Gujarat, Daman and Diu, Dadra and Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman, and Nicobar Islands, Telangana and Andhra Pradesh and total income is below INR 5 crore in the previous financial year, the due date is 22nd of the next month.

A taxpayer whose business is situated in Jammu and Kashmir, Ladakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha, and total income is below INR 5 crore in the previous financial year, the due date is 24nd of the next month.

GSTR 4- The registered taxpayer file this return when he opts for the composition scheme. It is filed quarterly and the due date is on or before 18th of the month succeeding quarter.

GSTR 5- This return is filed by all non-resident Indian (NRI). They are the suppliers who do not have an established business in India and have to visit India for a shorter period to make supplies. In this return, the NRI include all the details of the business including the sales and purchases. It should be filed on or before the 20th of the month succeeding tax period & within 7 days after the expiry of registration under section 27 of the Companies Act, 2013.

GSTR 5A- This return is filed by the person who is providing OIDAR (online information and database access or retrieval) services from outside India to the non-taxable online recipient in India.  Such a person has to file GST return on or before 20th of the succeeding month.

GSTR 6- It is a return filed by input service distributors. The details of ITC by an input service distributor and the distribution of ITC are included in this GST return. On or before 13th of month is the standard due date fixed by the tax authorities.

GSTR 7- A person who deducts tax at source (TDS) is required to file GSTR 7. It includes the details such as TDS deducted, TDS liability paid and payable, any TDS claimed etc. Such a person has to file the GSTR 7 on 10th of the following month.

GSTR 8- The e-commerce operators file GSTR 9 which needs to deduct TCS (tax collected at source) under Goods and Services Tax Act. It includes the details of supplies made on the e-commerce platform and the amount of TCS on such supplies. The e-commerce operator has to file GST return on or before 10th of the following month.

GSTR 9- It is the annual return filed by all the registered taxpayers under the composition levy scheme and also those who are engaged in the supply of goods to the on an e-commerce platform. Even the taxpayer filing GSTR 1, GSTR 2, GSTR 3, and GSTR 3B during the financial year are required to file GSTR 9. Details related to the supplies made and received during the financial year under various tax heads such as IGST, SGST and CGST are included in the GSTR 9. It is the combination of all the information filled in monthly or quarterly returns in the current financial year.

GSTR 9A- This return is filed by the registered taxpayer who has opted for a composition scheme and it is a simplified annual return. It is filed annually on 31st December.

GSTR 9C-  A registered person whose aggregated turnover is more than INR 2 crores is required to file GSTR 9C and also by the person who needs to get their accounts audited under section 35 of the CGST. It is filed annually on 31st December of the financial year.

GSTR 10- This return is filed when a person wants to cancel or surrender his GST registration. It should be filed within 3 months of the date of cancellation of the order, date of cancellation whichever is later.

GSTR 11- It is filed by a person who has issued a Unique Identity Number (UIN) to get refund for goods and services purchased in India under GST. It is filed on 31st December of the year.

 GST interest for late payment  

Under the GST system, late payments of tax is levied with 18% interest rate. The interest would be charged from the due date when the tax was not paid.

 Bottom line  

The Income Tax department has set deadlines for filing GST returns, and any delay in complying with them is considered as non-compliance and liable to strict penalties under the GST Act. The penalty amount is determined based on the type of GST returns filing.

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Unregistered Agreement to Sell And Compulsory Registration

 

Unregistered Sale Agreements are legally binding, and any shortage of stamp charges can be made up through a Court order. Such an agreement will be in effect for three years from the date of execution. If there is negative language in the agreement, for example, stating that the buyer must register the property within three months, the limitation period is extended by that amount.

To cancel the agreement properly in an unregistered sale deed, the party must issue a revocation notice despite the fact that the agreement was cancelled due to a change in time. This is dependent on the terms of the agreement; however, it is best to return the advance.

If a document is not accompanied by the transfer of possession but is executed only to convey the property, it must be registered since a registered document is not required to be accompanied by delivery of possession. The question here is whether, in the situation of an unregistered instrument and delivery of possession, the transferee who claims to refer to both will not rely on the delivery of possession. Before the signature of the unregistered oral agreement to sell and the delivery of possession, the purchaser may have a claim on the title.

Before the signature of the unregistered oral agreement to sell and the delivery of possession, the purchaser may have a claim on the title. Because the transfer of possession is deemed part of the sale transaction, the registered sale deed can be a surplus, and the transfer of possession will suffice to establish title.

Compulsory Registration under GST

Section 24 of the CGST Act requires some persons to register for GST even if their aggregate turnover is less than the applicable exemption limit.

In other words, these are the situations in which a supplier is required to register even though his total revenue does not exceed the applicable threshold limit. Noncompliance with the mandatory GST registration conditions may result in significant penalties. Persons required to register for GST under Section 24 The following individuals must register for GST regardless of the frequency or amount of turnover in a year.

Inter-state supplier

Taxpayer under reverse charge mechanism

Casual taxable person

Non-resident taxable person

E-commerce operator

Person who requires to deduct tax under section 51 of the CGST act, 2017

Input service distributor

Any person who is engaged in supplies on behalf of another taxable person whether as an agent or otherwise.

Every person supplying online information and database access or retrieval services (OIDAR services) from a place outside India to an unregistered person in India

Other persons may be notified by the government

Written By

Property Expert Channel

Anurodh Jalan

Jalan Property Consultant 

8801003684

For any Property related services please contact us. 

Thank You

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GST Returns

What is GST returns

The tax document or form that GST-registered taxpayers must file with the authorities and which includes information on income, sales, and purchases and costs is known as a GST returns. The tax authorities use this return to determine their net tax liability.

Generally speaking, a GST-registered merchant has to be aware of appropriate GST return filing, which includes:

Sales

Purchases

GST output for sales

tax credit for input (tax paid on purchases)

Who Must Submit a GST Return?

The GST Act specifies a total of 13 returns, however not all company owners are required to file any particular filings. Depending on the nature of the firm and its yearly revenue, a business owner may be obliged to file a certain number and kind of returns. A company owner must submit two monthly returns and one annual return, or a total of 25 GST filings, in a year, for instance, if their yearly aggregate revenue is greater than 5 crore. On the other hand, a dealer who has chosen the composition plan and has an annual turnover of at least 1.5 crore is only required to submit one GST return every fiscal year.

Type of GST Form

Who should file the form?

GSTR-1

Every registered person should file this form

GSTR-2A

Autofill form that is view-only

GSTR 2B

View only form

GSTR 3B

Anyone can file this tax

GSTR- 4

A composition dealer who has chosen a must fill

GSTR-5

Fees that non-resident foreigners who operate enterprises in India must pay

GSTR-5A

Non-resident OIDAR service providers

GSTR-6

A distributor of input services must file it (ISD)

GSTR-7

filed by those who must remit TDS under the GST

GSTR-8

Filed by e-commerce operators

GSTR-9

Taxpayers registered under GST

GSTR 9C

Taxpayers registered under GST

GSTR-10

Paid by those persons whose GST registration was canceled or surrendered

GSTR-11

For reimbursement requests from foreign embassies and missions

How can I submit a GST return online?

On the GST site, it is simple to file your GST returns online. You only need to carry out the actions listed below:

Step 1: Go to www.gst.gov.in, the official GST portal, and log in using your credentials.

Step 2: Next, select "Services" from the menu, then select "Returns Dashboard," where you may input the fiscal year and the return filing period in the appropriate fields.

Step 3: Click "Prepare Online" after choosing the type of return you want to file.

Step 4: Click "Save" after providing all required information, including the total and any applicable late fees. You will see a success message on your screen.

Step 5: To finish submitting your return, click the "Submit" button at the bottom of the page.

Step 6: Select "Payment of Tax" if the status of your return changes to "Submitted".

Step 7: To examine the cash and credit balances prior to actually paying the tax, use the "Check Balance" option.

Step 8: You must now input the amount of credit from your account's total available credit that you intend to utilize to pay your tax due. To make the payment, click "Offset Liability" after that. Click "Ok" when you get a confirmation on your screen.

Step 9: Lastly, select an authorized signatory from the list by checking the box next to the statement. using the drop-down menu. Select "File Form with DSC" or "File Form with EVC" and then "Proceed" to send the GST payment.

Penalty for Filing GST Returns Late

A company owner is subject to two different forms of fines if they don't submit their GST returns on time:

Late Cost: After the due date, CGST and SGST late filings are assessed a late fee of $100 per day (a total of $200 per day), up to a maximum late fee of $5,000.

Interest: In addition to the tax that must be paid, the taxpayer is also responsible for paying interest at a rate of 18% annually. From the due date for submitting the return until the payment is made, this interest rate is in effect.

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[aumilieuduchaoz]

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OIDAR services refer to services provided through the medium of internet without the physical interaction of the supplier and recipient of services. Eg - web-hosting services