Friday, 29 December 2017

Update: Deadline of GSTR 1 filing for the month of July extended to 10th of September.

Update: Deadline of GSTR 1 filing for the month of July extended to 10th of September.


Return PeriodGSTR 1GSTR 2GSTR 3GSTR 3B
July 2017October 10October 31November 10August 25
August 2017October 5October 10October 15September 20

Do NGO/ Education Sector Entities Need to Register for GST?


Do NGO/ Education Sector Entities Need to Register for GST?





While NGOs do not need to be registered under the GST, you will still need to provide other details like registered trust office address if you are collecting donations via an online platform.

How Do I Register for GST?

How Do I Register for GST?

GST registration / migration is currently open for existing VAT / Service tax payers. If you haven’t enrolled your small business for GST yet and don’t know how to do so, follow this step-step-step guide to get your provisional GST Number (GSTIN).
 Click here for more information: Watch This Video
 If you aren’t an existing assesses under VAT /  Service tax, the registration window isn’t still open for registration.

What is Input Tax Credit?

What is Input Tax Credit?

Input Tax Credit is the money you can get back on the taxes you paid while purchasing a product or service.
You can file them as returns on the GST Network (GSTN) to get back the money you paid while making a purchase from a wholesaler, retailer or online platform.

How Do I Get My Input Tax Credit?
To claim your input tax credit, both you and your supplier needs to be covered under the GST Act.
The following conditions must be fulfilled for you to be able to claim your input tax credits:
  • You should have received the goods/services
  • You should have a legit invoice of the purchased goods or services
  • The tax charged to you was paid to the government by your supplier
  • The supplier has filed for returns.

How Do I File GST Returns?

How Do I File GST Returns?


The most common returns will be GSTR 1, 2 ,3, 4 & 9. All businesses need to submit GSTR 1, GSTR 2 & GSTR every month. GSTR 4 needs to be submitted every quarter and GSTR 9 is to be submitted on an online basis.
Below is a table of all the forms you would need to fill and file under the latest GST regime:

Form Type/Number
What To File
Who Should File
Due Date
GSTR - 1
Outward Sales
By Suppliers
10th of next month
GSTR - 2
Purchases made
By Recipients
15th of next month
GSTR - 3
Monthly return of what went out and what came in (supplies) + payable tax amount
By all businesses
20th of next month
GSTR - 4
Compound GST return
By all businesses
18th of every quarter
GSTR - 5
GST returns
By taxable non-residents
20th of next month
GSTR - 6
GST returns
Input Service Distributor
16th of next month
GSTR - 7
GST returns
TDS deductors
10th of next month
GSTR - 8
Supplies + taxes collected via e-commerce platform
E-commerce operators/ tax collectors
10th of next month
GSTR - 9
Annual GST returns
By all businesses
31st Dec of financial year
 
You can view 
model forms here. The forms will be available in the GST network (GSTN) and you will need to file them at the portal regularly.

Do NGO/ Education Sector Entities Need to Register for GST?



Do NGO/ Education Sector Entities Need to Register for GST?


While NGOs do not need to be registered under the GST, you will still need to provide other details like registered trust office address if you are collecting donations via an online platform.

Do NGO/ Education Sector Entities Need to Register for GST?


Do NGO/ Education Sector Entities Need to Register for GST?


While NGOs do not need to be registered under the GST, you will still need to provide other details like registered trust office address if you are collecting donations via an online platform.