Who is require to file Gstr-10?
A taxable person whose GST registration is cancelled or surrendered has to file a return in Form GSTR-10 called as Final Return. This is statement of stocks held by such taxpayer on day immediately preceding the date from which cancellation is made effective.
Some people are often confused if CA Certification is required while filing GSTR-10 or not. So the Answer here is no. CA Certification is not compulsory while filing GSTR-10, but is required only in case the taxpayer was having stock and tax invoices related to the inputs held in stock are not available.
What happens if Gstr-10 is not filed?
If the taxpayer fails to respond to the tax notice or does not file the GSTR-10 return, then the tax officer would pass the final order of cancellation with the amount of GST tax payable along with interest or penalty.
Step 1: Log in to the GST portal. Step 2: Navigate to the GSTR-10 page. Go through the important message, as highlighted below, before clicking on 'Prepare Online'. Enter the address and click 'Save'.07-Jun-2021
What is the maximum penalty for Gstr-10?
A general penalty of Rs 100 per day towards CGST and Rs 100 per day towards SGST will be levied. The maximum penalty is Rs. 10000 for both (CGST+SGST/UTGST) shall be levied.
The taxpayers who had not filed GSTR-10, i.e. final return are now allowed to file the final return with a reduced late fee of Rs. 500. However, the pending GSTR-10 has to be filed on or before 31st December 2020.25-May-2022
How do I download Gstr 10?
A. Login and Navigate to Form GSTR-10 page
Form the Combined Reading of Section 39 and Section 45, we can conclude that GSTR 10 i.e. Provision of Final Return are not applicable the person paying tax under section 10 (Popularly known as Composition Scheme).22-Jan-2020
What is ITC reversed in GST?
Reversal of ITC means the credit of inputs utilised earlier would now be added to the output tax liability, effectively nullifying the credit claimed earlier. Depending upon when such reversal is done, payment of interest may also be required.03-Mar-2022
GSTR 7 is a return that has to be filed by taxpayers who wish to deduct their TDS from GST returns.27-Aug-2021
How do I pay GST after cancellation?
If you have requested for GST registration and paid all pending GST, follow this process to get it done.
Form GSTR-11 is a form to be filed by every registered person, who has been issued a Unique Identity Number (UIN), to get tax credit/refunds under GST.
Who files Gstr 8?
GSTR-8 is a type of GST return that must be filed by all e-commerce operators registered under GST for collection of TCS. GSTR-8 filing will comprise of details like the amount of tax collected at source from e-commerce sellers and their GSTIN.
GSTR 9C is an annual audit form for all the taxpayers having the turnover above 2 crores in a particular financial year. Along with the GSTR 9C audit form, the taxpayer will also have to fill up the reconciliation statement along with the certification of an audit.30-Jun-2022
How do I waive a GST late fee?
The CBIC in a notification said that late fee shall be waived from May 1 to June 30, 2022, for delay in filing GSTR-4 for 2021-22 fiscal. GSTR-4 is filed annually by the taxpayers registered under the composition scheme. GST composition scheme can be opted by any traders whose turnover is less than Rs 1.5 crore.26-May-2022
Note: The Interest has to be calculated from the next day on which the tax was due.2. Interest under GSTR.
What is first return in GST?
Every registered person who has made outward supplies in the period between the date on which he became liable to registration till the date on which registration has been granted shall declare the same in the first return furnished by him after grant of registration.
The composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rs. 75 lakhs ( Rs. 50 lakhs in case of few States). The objective of composition scheme is to bring simplicity and to reduce the compliance cost for the small taxpayers.
What is the maximum time limit to claim ITC?
Where the goods are received in lots or instalments, ITC will be allowed to be availed when the last lot or instalment is received. The buyer must pay towards the supply of goods and/or services within 180 days from the invoice date.15-Jul-2022
Inputs or input services- covered by rule 42. Capital goods- covered by rule 43.Rule 42: Reversal of ITC on inputs/input services.
How do I reject ITC GST?
Another way to view the taxpayer's engagement request is by clicking on Services option, select the User Services option and then click on Accept/ Reject Taxpayer option. The GST Practitioner has to click on the appropriate 'view' option whether to approve or reject the request.
Who is require to file Gstr-10?