Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 7-8-2018 – Input Service Distributor Section 2(61) of the Central Goods and Services Tax Act, 2017 ( Act for short) defines the expression Input Service Distributor as an office of the supplier of goods or services or both which receives tax invoices issued under section 31 towards the receipt of input services and issues a prescribed document for the purposes of distributing the credit of central tax, State tax, integrated tax or Union territory tax paid on the said services to a supplier of taxable goods or services or both having the same Permanent Account Number as that of the said office. Manner of distribution of input tax credit Section 20 of the Act provides the procedure for the manner of distribution of input tax credit by the Input Service Distributor. The said Act provides that- The Input Service Distributor shall distribute the credit of central tax as central tax or integrated tax and integrated tax as in
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s to whom such input service is attributable and which are operational in the current year, during the said relevant period; the credit of tax paid on input services attributable to all recipients of credit shall be distributed amongst such recipients and such distribution shall be pro rata on the basis of the turnover in a State or turnover in a Union territory of such recipient, during the relevant period, to the aggregate of the turnover of all recipients and which are operational in the current year, during the said relevant period. Return by Input Service Distributor Rule 65 of Central Goods and Services Tax Rules, 2017 provides that every Input Service Distributor shall, on the basis of details contained in FORM GSTR-6A, and where required, after adding, correcting or deleting the details, furnish electronically the return in FORM GSTR 6, containing the details of tax invoices on which credit has been received and those issued under section 20, through the common portal either di
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ived for distribution- GSTIN of the supplier; Invoice details such as invoice number, date and value; Rate; Taxable value; Amount of tax(IGST, CGST,SGST/UTGST, CESS); Debit/Credit note (including amendments thereof) received during the current tax period- Details of original document- GSTIN of the supplier; No. Date Revised details of documents or details of Debit/Credit note- GSTIN of supplier; Number; Date; Value; Rate; Taxable value; Amount of tax (IGST, SGST/UTGST, CGST, CESS) Form GSTR – 6 The Input Service Tax Distributor is to fill up the details in this Form. The details are as follows- Year and month of return; GSTIN of Input Service Distributor; Legal name; Trade name, if any; Input tax credit received for distribution- GSTIN of supplier; Invoice details (invoice number, date and value); Rate; Taxable value; Amount of tax (IGST, CGST, SGST/UTGST, CESS) Total eligible ITC/ineligible ITC to be distributed for tax period (the information is to be taken from the table input tax c
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istribution of input tax credit reported in Tables (Amendments in information furnished in earlier returns and Input tax credit mismatches and reclaims to be distributed in the tax period) (plus/minus)- Distribution of the amount of eligible ITC; Distribution of the amount of ineligible ITC. Redistribution of ITC distributed to a wrong recipient (plus/minus) Distribution of the amount of eligible ITC; Distribution of the amount of ineligible ITC. Late fee; Refund claimed from electronic cash ledger Tax details for refund; Bank details Verification by the Authorized signatory. Points to be considered while filing Form GSTR – 6 ISD details will flow to Part B of GSTR – 2A of the Registered recipients units on filing GSTR – 6; GSTR – 6 return can be filed after 10th of the month and before 13th of the month succeeding the tax period; ISD has to distribute both eligible and ineligible ITC to its units in the same tax period in which the inward supplies have been received; Mismatch liabilit
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he month of July 2017 was extended to 31.12.2017.It was indicated that the due date for the following months would be notified later; Notification No. 8/2018-Central Tax, dated 23.01.2018 the due date for the months from July 2017 to February 2018 was extended to 31.03.2018; Notification No. 19/2018-Central Tax, dated 28.03.2018, the due date for the months from July 2017 to April 2018 was extended to 31.05.2018; Notification No. 25/2018-Central Tax, dated 31.05.2018, the due date for the months from July 2017 to June 2018 was extended to 31.07.2018; Notification No. 30/2018-Central Tax, dated 30.07.2018, the due date for the months from July 2017 to August 2018 was extended to 30.09.2018. GST Council in its 27th meeting held on 4th May, 2018 had approved the basic principles of GST return design. Now in its 28th meeting held on 21st July, 2018, GST Council approved the key features and new format of the GST returns. The draft returns are put in domain for the comments and suggestions
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