Who Is Eligible For GST Return Filing?
The Goods and Services Tax (GST) is a comprehensive tax system implemented in India to standardise taxation and streamline compliance. For some taxpayer groups, filing GST returns is a requirement, making it one of the most important parts of GST. Understanding who must file GST returns is helpful in maintaining compliance and preventing fines. If you want to apply for GST Return Filing Online, contact Eazy Startups. Here, you can get assistance in applying for GST Filing Online.
Here's
a detailed guide to who is eligible for GST return filing:-
●
Registered Taxpayers
●
Composition Scheme
Participants
●
Non-Resident Taxable
Persons
●
E-Commerce Operators
●
Public sector undertakings
(PSUs) and government departments
●
Input Service Distributors
●
Companies with Multiple
Registrations
Registered Taxpayers:
GST returns must be filed by each
individual or entity that is registered for GST. It covers companies whose
revenue surpassed the threshold limitations or voluntarily registered for GST.
Businesses that supply products, services, or both and have an annual gross
turnover of more than ₹40 lakhs (₹20 lakhs for special category states) must
register for GST.
Composition Scheme Participants:
Companies that choose to use the
Composition Scheme, intended for small taxpayers with annual revenue up to ₹1.5
crore (₹75 lakh in states under special category), are required to submit GST
filings. These companies pay GST at a fixed rate on their turnover, simplifying
their tax system. However, they are still required to meet the scheme's
quarterly filing requirements. GSTR-4 and GSTR-4A filings are included in this.
Non-Resident Taxable Persons:
GST returns must be filed by non-resident
taxable individuals who provide goods or services in India. These are comprised
of international companies that transact business in India but do not maintain
a physical location there. Taxable individuals who are non-residents are
required to file GST returns using Form GSTR-5, which is reserved especially
for them.
E-Commerce Operators:
GST returns must be filed by e-commerce
platform operators who enable the supply of goods or services via their
platforms. E-commerce companies such as Amazon, Flipkart, and other such
platforms are required to do this. For the benefit of the sellers who use their
platform, they must provide GSTR-8, which includes information on the tax
collected at source (TCS).
Public sector undertakings (PSUs) and government
departments:
PSUs and government departments
participating in taxable operations must also file GST returns. The same return
filing requirements that apply to other registered taxpayers also apply to
these entities, including the filing of GSTR-1 and GSTR-3B.
Input Service Distributors (ISDs):
Companies that transfer the input tax
credit on services to different branches or units and are recognized as input
service distributors must file GST returns. ISDs must submit a GSTR-6 form to
disclose the specifics of the input tax credit given to other units.
Companies with Multiple Registrations:
Companies with more than one GST
registration, either for the same vertical or in a different state, must submit
separate GST returns for each registration. Since each registration is handled
differently, refunds must be submitted in line with that. For instance, a
company with registrations in several states must submit different GSTR-1 and
GSTR-3B forms to each state.
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