Skip to main content

GST Payments and Refunds | completely online processes | Certicom

After GSTR 1 and GSTR 2 entered by the seller must install GSTR 3 and make GST Payment. Also, if the refund is required, the same will be done by forming a refund application form.

A. Payments –

1. What are the payments to be made under the GST?
     Under the GST tax is paid mainly divided into 3:-
  • IGST – paid delivery (charged to the centre) is made at the interstate
  • CGST – paid when the supply in the State (Payable to centre)
  • SGST – paid when the supply in the State (Payable to state)
CIRCUMSTANCESCGSTSGSTIGST
Goods sold from Delhi to BombayNONOYES
Goods sold within BombayYESYESNO
Goods sold from Bombay to PuneYESYESNO
In addition to the above payments, the dealer is obliged to make these payments –
  • Tax withheld at source (TDS) – TDS is a mechanism by which the tax is held at the dealer before making transfer vendor
For example –
A government agency provides a road builder laying contract. The contract is worth Rs 10 lakh.
When a government agency makes a payment the developer TDS @ 1% (equivalent to Rs 10,000) will be deducted and the balance amount will be paid.
  • Tax amount of the source (TDS) – TDS is the mechanism by which the tax is deducted from the dealer before payment is made to the supplierThis provision is currently relaxed and will not be applicable for reporting by the government.
  • Reverse charge – The obligation to pay tax shifts from the supplier of goods and services to the recipient. To find out more about the reverse charge, check out our article “Meet All About Reverse Charge under GSThttp://certicom.in/gst-payments-and-refunds-in-bangalore/

Comments

Popular posts from this blog

What is ITR4 Form? | How to fill ITR-4 Form? | Certicom

The report, issued by the Ministry of Finance, the deadline for filing tax returns is extended from 31 July 2018 until 31 August 2018. For the year of assessment 2018-19, the format was changed to include the GST part with detailed financial information. The old tax form ITR-4S was renamed ITR-4. 1. What is the ITR 4 for AY 2017-18 and 2018-19 AY? Form ITR-4 is the tax return form for those taxpayers who have opted for the scheme estimated income under section 44 ad, 44ADA Section and Section 44AE the Income Tax Act. However, if the turnover of the business referred to above is greater than Rs 2 crore, the taxpayer must submit an ITR-third Click here to download the ITR-4 for the assessment year 2018-19 download What is the structure ITR 4 for AY 2018-19 and 2017-18 AY? ITR-4 is divided into: Part A: General information Part B: gross total income of the five chapters Revenue Part C: deduction and the total taxable income Part D: The tax calculation and tax status C...

Income Tax Raid, Search and Seizure – What, When, How

What is Black Money Black money is funds obtained illegally where other  income and taxes  have not been paid. Countless money illegally hoarded and hidden from the tax authorities is also called black money. So, it is important that a person does not save money, jewelry or anything that is not mentioned or not announced When did the attack occur? Income tax attacks, which are technically known as the Search and Foreclosure process, are one of the important weapons that the Income Tax department must have to check for black money. Credible tax evasion information; for example, any avoidance that comes out of a report received from the Intelligence Wing from the Income tax department Information comes from government departments Information is obtained from taxpayer assessment records The information received is related to expenditure that is not proportional to the income of the taxpayer, which is an example of wasteful expenditure without income that is suitab...

GST Returns |Types Forms | Due dates | Penalties | certicom

Types of GST Returns and Their Assessment Information Implementation of Statements based on New Regulations and Notifications     GSTR-1 Quarterly Returns (Annual Report Statement Debtors 1.5 Crore has the option to retrieve the quarterly return filing) Period (Quarterly) Due dates Jan- Mar 30th April 2018 Apr-June 2018 31st July 2018 For turnover of more than Rs 1.5 cr Period Dates July to Nov 10th Jan 2018 Dec 10th Feb 2018 Jan 2018 10th Mar 2018 Feb 2018 10th Apr 2018 March 2018 10th May 2018 April 2018 31st May 2018 May 2018 10th June 2018 June 2018 10th July 2018 GSTR-2 and GSTR-3   the installation is currently suspended but the dates of July 2017 to March 2018 will be made later by the Executive Committee. GSTR-3B GSTR-3B was launched in June 2018 All businesses must install GSTR-3B for the next month until September 2018. The date of April 2018 is extended on 22 May 2018 from May 20, 2018. Read the free release here. fili...