{"id":3831,"date":"2018-12-31T09:00:11","date_gmt":"2018-12-31T03:30:11","guid":{"rendered":"http:\/\/capitalante.com\/?p=3831"},"modified":"2019-02-27T19:20:23","modified_gmt":"2019-02-27T13:50:23","slug":"gst-return","status":"publish","type":"post","link":"https:\/\/capitalante.com\/gst-return\/","title":{"rendered":"How to File GST Return in India"},"content":{"rendered":"
The Goods and Service Tax (GST) is nothing but a single tax which combines all separate taxes in the central or state level. Before the advent of GST in the Indian economy, there were 17 different types of indirect taxes of central and state governments. Now all these taxes have been abolished and combined in a single form of tax that is GST. In this column, we will give you a beginners guide to how GST works, what is GSTIN number and how to get your GSTIN number, how to file GST Return and the points to consider while filing GST Return.<\/span><\/p>\n Before the implementation of GST, all dealers had to register themselves under the state VAT law. Then they were provided with a unique TIN number by the respective state tax authority. Now, the GST has turned the whole country into one market one tax policy. Earlier to this, all businessmen or service providers were provided with the service tax registration number by the central board of excise and custom. Stepping towards the new GST regime all registered taxpayers are now consolidated into one single platform for compliance and administration purposes.<\/span><\/p>\n All businessmen and service providers are provided with a unique Goods and Services Tax Identification number i.e., GSTIN. Now, a single tax is charged on a product. The central and state governments have a particular share on that tax. Different kinds of taxes like excise, customs, state entry tax, commercial tax, and value-added tax have now been abolished and replaced with a single tax namely Goods and Services Tax. Now the ultimate users or the people pay one tax in the form of GST.<\/span><\/p>\n Just like PAN card, Goods and services Tax Identification Number i.e., GSTIN is a set of digits including English alphabets and numbers.<\/span><\/p>\n Let\u2019s make it clear with an example, just look at the following GSTIN number<\/span><\/p>\n <\/a><\/p>\n First of Once you submit the OTP, your verification is now completed. The system will provide you with an Application Reference Number i.e., ARN via your registered mobile number and e-mail id.<\/span><\/p>\n Now, you need to fill Part B of the application using the ARN. The scanned copies of the following documents are to be uploaded in the GST portal.<\/span><\/p>\n As a business owner, you must declare the income that you make by carrying out any business transaction or providing any service. GST return is just a legal document which contains all the details of your sales, purchases, tax collection on sales i.e., output cost, tax paid on purchases i.e., input taxes. You need to pay taxes in accordance with business turnover and taxes applicable i.e., 5%, 12%, 18% & 28%.<\/span><\/p>\n <\/a><\/p>\n Goods and services tax is a destination based tax i.e. the goods or services will be taxed at the place where they are finally consumed\/used. GST is not levied in the place where the product is produced or processed. It may be possible that a product is being produced in the state and then transported to any other state. Finally, in the destination state, the product is bought or consumed. Here the GST is imposed @ 18%. Central and the concerned state where the product is sold to the customer receive tax @ 9% each. The state government has the right to collect GST where any particular product is consumed. Let\u2019s make it clear with the following examples.<\/span><\/p>\n Suppose, I have a factory where shirts are produced and the factory is located in the state of West Bengal. Now, a shirt made here is transported to Gujarat. Then the state of Gujarat has the right to impose and collect GST on that shirt. The state of West Bengal cannot collect GST or impose any kind of tax. GST cannot be charged at the place of production of a product. Again, I have a website which is operated from Maharashtra. The website offers online services such as video tutorials on blogging, website programming, or sells e-books on blogging or affiliate marketing etc.<\/span><\/p>\n If any person purchases our services or e-books from Nagpur, then the calculation should be as follows,<\/span><\/p>\n The place of supply is Nagpur which is in Maharashtra i.e., the location of the buyer. Since it is being sent from Maharashtra and consumed in Maharashtra, Maharashtra State have the right to charge or collect GST. In this case, the tax rate of selling financial services or e-book is 18%. So, If any person purchases our services or e-books from Bangalore, then the calculation will be as follows.<\/span><\/p>\n The place of supply is Bangalore in Karnataka i.e., the location of the buyer. Since it is being sent from Maharashtra to a different state i.e., Karnataka, Integrated Goods While filing GST you need to furnish the following details,<\/strong><\/span><\/p>\n Every business person or service provider needs to submit GST return. One can file GST return via online only. Here is the detailed step one may follow to submit GST returns.<\/span><\/p>\n <\/a><\/p>\nPre GST era Taxation System<\/strong><\/span><\/h4>\n
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What is GSTIN Number?<\/strong><\/span><\/h4>\n
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How to get GSTIN Number?<\/strong><\/span><\/h4>\n
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Who will file the GST Return?<\/strong><\/span><\/h4>\n
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How GST works and how to calculate it<\/strong><\/span><\/h4>\n
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If the seller and the buyer are from the same state<\/strong><\/span><\/h4>\n<\/li>\n<\/ul>\n
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If the seller and the buyer are from different states<\/strong><\/span><\/h4>\n<\/li>\n<\/ul>\n
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How to File GST Returns Online<\/strong><\/span><\/h4>\n
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