What is GSTR-10?
Form GSTR-8 is a monthly return form to be furnished by all e-commerce operators who are required to deduct TCS (Tax Collected at Source) under GST.Form GSTR-10 is a final return form to be furnished by all taxable persons whose GST registration is cancelled or surrendered.
Here it is important to understand the difference between a final return and an annual return, basically the difference between GSTR-10 and GSTR-9.
Annual Return – or Form GSTR-9 is to be filed by all registered persons paying tax as a normal taxpayer under GST, and it has to be filed once a year.
Final Return – or Form GSTR-10 is to be filed by all persons whose registration has been cancelled or surrendered, and is a one-time process.
Who are required to file GSTR-10?
GSTR-10 return filing is to be done only by the persons whose registration under GST has been cancelled or surrendered. Regular taxable persons under GST are not required to file this return.
When is the GSTR-10 last date?
The GSTR-10 due date is basically three months from the date of cancellation or date of cancellation order whichever is later.
What if GSTR-10 filing is done late?
If there is a delay in filing GSTR-10, then a notice will be sent to the registered person who has defaulted. The person will be given 15 days' time for filing the return with all the documents required. Still, if the person fails to file the return, then the tax officer will pass the final order for the cancellation with the amount of tax payable along with interest and penalty.
How to revise GSTR-10?
Form GSTR-10 once filed cannot be revised. Any mistake made in the return can be revised in the next month's return, when the error or omission is identified.
GSTR-10 Format
GSTR-10, being a final return, has substantial number of fields which are auto-populated, while the rest are to be furnished.
How to file GSTR-10
Following are the details to be provided in the GSTR-10 form, spread across 10 tables:
GSTR 9 is an annual return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme. It consists of details regarding the supplies made and received during the year under different tax heads i.e. CGST, SGSTand IGST. It consolidates the information furnished in the monthly/quarterly returns during the year.
Who should file GSTR-9 ?
- All the registered taxable persons under GST must file GSTR 9. However, following persons are notrequired to file GSTR 9
- Casual Taxable Person
- Input service distributors
- Non-resident taxable persons
- Persons paying TDS under section 51 of GST Act.
What are different types of return under GSTR-9 ?
There are 4 types of return under GSTR 9 :
GSTR 9 : GSTR 9 should be filed by the regular taxpayers filing GSTR 1, GSTR 2, GSTR 3.
GSTR 9A – GSTR 9A should be filed by the persons registered under composition schemeunder GST.
GSTR 9B – GSTR 9B should be filed by the e-commerce operators who have filed GSTR 8during the financial year.
GSTR 9C – GSTR 9C should be filed by the taxpayers whose annual turnover exceeds Rs 2 crores during the financial year. All such taxpayers are also required to get their accounts audited and file a copy of audited annual accounts and reconciliation statement of tax already paid and tax payable as per audited accounts along with GSTR 9C.
When is GSTR-9 due ?
- GSTR-9 shall be filed on or before 31st December of the subsequent financial year.
- For instance for FY 2017-18, the due date for filing GSTR 9 is 31st December, 2018.
What is the Penalty for the late filing of GSTR-9 return ?
Late fees for not filing the GSTR 9 within the due date is Rs. 100 per day per act up to a maximum of an amount calculated at a quarter percent of the taxpayer turnover in the state or union territory. Thus it is Rs 100 under CGST & 100 under SGST, total penalty is Rs 200 per day of default. There is no late fee on IGST.
What is GSTR-10?
Form GSTR-8 is a monthly return form to be furnished by all e-commerce operators who are required to deduct TCS (Tax Collected at Source) under GST.Form GSTR-10 is a final return form to be furnished by all taxable persons whose GST registration is cancelled or surrendered.
Here it is important to understand the difference between a final return and an annual return, basically the difference between GSTR-10 and GSTR-9.
Annual Return – or Form GSTR-9 is to be filed by all registered persons paying tax as a normal taxpayer under GST, and it has to be filed once a year.
Final Return – or Form GSTR-10 is to be filed by all persons whose registration has been cancelled or surrendered, and is a one-time process.
Who are required to file GSTR-10?
GSTR-10 return filing is to be done only by the persons whose registration under GST has been cancelled or surrendered. Regular taxable persons under GST are not required to file this return.
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The ARN needs to be furnished in case the application for cancellation has been approved by the authorities. In such cases, the ARN will be communicated to the taxpayer at the time of passing the cancellation order.
In this section, one needs to mention the date of cancellation of GST registration as included in the order.
The taxpayer needs to specify whether the return is being filed on the basis of cancellation order or on a voluntary basis.
An Unique ID will be provided by the authorities at the time of passing the cancellation order.
This will be the date on which the GST registration cancellation order is passed by the authorities.
The taxpayer needs to furnish details of closing stock held at the time of closing the business. Any amount of credit lying in such stock needs to be paid along with this return. This section has a sub-table i.e. Table 10 A – Amount of tax payable on closing stock. As mentioned before, the credit lying in inputs and / or capital goods need to be paid to the administration. This amount is auto-populated based on the declaration of closing stock of goods in Table 10.
Any registered taxable person whose registration has been cancelled is required to file Final return in FORM GSTR-10. The return has to be filed within three months from the date of cancellation or date of order of cancellation, whichever is later.