Overview of Goods and Services Tax (GST)
There are total 33 GST Laws: One CGST, One IGST AND 32 SGST(29 States and 3 UT(s)).
Supply Includes:
| All forms of goods and / or services such as sale, transfer, barter, exchange, rental, lease for a consideration by a person in the course or furtherance of business. | Importation of services, whether or not for a consideration and whether or not in the course or furtherance of business, and supply specified in Schedule I, made or be made without consideration |
Registration in GST:
- Taxable person in GST would be required to take state specific single registration for Central GST, Integrated GST and State GST.
- Registration number would be 15 digit PAN based alpha numeric registration number.
- Presently, registration process for Delhi is started from 16thDecember, 2016 and it is upto 31stDecember for taxable persons other than service providers.
Returns in GST:
- Outward Supplies (GSTR – 1)
- Inward Supplies (GSTR – 2)
- Monthly Return (GSTR – 3)
- Return for Compounding dealers (GSTR – 4)
- Return by Non Resident Tax Payers (GSTR – 5)
- Input service distribution return (GSTR – 6)
- TDS (GSTR – 7)
- Annual Return (GSTR – 8)
Payment of GST:
On or before 6th of the subsequent month
Return due dates in GST:
Reconciliation of Inward and Outward Supplies:
Adjustment of CENVAT under GST Scheme:
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