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Due Dates: GSTR 3B, GSTR 1, (GSTR 9, and GSTR 9C) and GSTR 4 Respectively as Follows: 20 March, 11 March , 31 March and 18 Apr 2020 (Read a Guide)
GSTR 9A is an annual return form necessary to be filed by the composition scheme dealers at the year-end. The GSTR 9A form includes all the details of SGST, CGST and IGST paid and transactions based on them of the whole year.
Here, GST Helpline will describe all the necessary information of GSTR 9A format and its definition along with updated due date and taxpayers liable for filing GSTR 9A form.
Each e-commerce business or company that is involved in TDS/TCS deduction must file quarterly TDS/TCS returns on the official tax portal of India.
Tax Deducted at Source (TDS) is a tax that is deducted directly from the income. It is usually deducted by the employer from the salaries of their employees and then paid to the government. The TCS return filing is done by the source company.
GSTR 7A is a form under goods and services tax for the TDS deductors i.e. tax deducted at source from the supplier’s payments. The GSTR 7A is auto-populated when the taxpayer files the GSTR 7 form on the official government portal. The form has all the relevant details of tax deducted at source on the products supplied by the dealer. Whenever the deductor pays the tax deducted at source amount, it is then shown in the credit ledger of the deductee.
As per the announcement made by the GST council earlier, all the e-commerce companies are supposed to pay the TCS(Tax collected at source) from 1st October.
The Software vendor for Goods and Services Tax Network (GSTN), Infosys, has been asked by Sushil Kumar Modi, the Chairman of the Group of Ministers, to design New return filing forms for traders. This move has been taken in order to simplify the Return filing process through Network for the Traders. Sushil Kumar Modi, who was in the 10th GoM (media player for Windows) meeting for the review of the network working, informed that Infosys has been directed according to the suggestions by the GST council, to design new forms on Network which could simplify the return filing process for the traders.
The new TCS (Tax Collected at Source) provisions set to come into motion from October 1st will bring significant changes as far as accounting operations of e-commerce companies in India are concerned. These changes are set to affect foreign and homebred e-commerce companies alike. The new provisions mandate e-commerce companies to register under GST in all states and collect TCS from October 1.
These are the four questions that can explain the basic application of TDS as stated under GST law:
The people who are responsible for deducting tax are:
1) Central or State Government departments, or
2) regional authority, or
3) governmental agencies, or
4) The person who will be notified by the Central or State Government on the guidance of the Council.
A good news for the taxpayers who were not able to file GST TRAN-1 on time due to some technical issues can now file TRAN 1 as the option has arrived at GST portal. The Central Government has again opened the filing of GST TRAN-1 particularly to the taxpayers who couldn’t file their returns timely.
Some of the minor changes have been applied by the Central Government under the Central Goods and Services Rules, 2017. On the same day, the Government has announced the notifications regarding the changes.