Every registered non-resident taxable person must electronically file a GSTR-5 return through the GST Portal.
Non-Resident foreign taxpayers are those who do not have a permanent business presence in India and have come to make supplies for a limited time. In GSTR-5, such a person must provide details of all taxable supplies.
It will include all non-resident (NR) business information, such as sales and purchases. GSTR-5 data will be fed into the buyers' GSTR-2.
GSTR-5 is due on the 13th of each month, according to the GST Act. For example, the September 2022 return is due on October 13th, 2022.
If you wait too long to file, you will be charged interest and a late fee. The annual interest rate is 18%. It must be calculated by the taxpayer based on the amount of unpaid tax. The time period will run from the next day of filing (the 21st of the month) until payment is made. Late fees are Rs. 50 per day for late-payments and Rs. 20 for no payments. The maximum penalty for being late is Rs. 5,000.
The following month's return cannot be filed if the GSTR-5 return is not filed. As a result, late GST return filing will have a cascading effect, resulting in heavy fines and penalties.
The government specifies 14 headings in the GSTR-5 format.
Enter your GSTIN here. If you don't have a GSTIN, you can use your provisional ID.
1. Taxpayer's full name, including legal and business names (will be auto-populated).
2. Registration validity period The registration validity period will be auto-populated as well.
3. Mention the appropriate month and year for which GSTR-5 is being filed.
Inputs and capital goods imported into India must be reported to the NR. Details of the bill of entry, including the tax rate, IGST, cess paid, and ITC available. An NR will only have inbound import supplies (purchases).
The NR can change any details in imports provided in previous returns in this section. Changes are possible in-
1. Bill of entry
2. Rate of IGST
3. Taxable value
4. Amount of IGST & Cess
5. Amount of ITC now available
6. Differential amount of ITC (if excess will be reversed and vice versa)
Note: Both the original and revised Bill of Entry details must be provided.
This section will detail invoice-by-invoice B2B sales in India, including sales to UIN holders. Details of IGST/CGST, SGST, and Cess, as well as the state, must be provided.
This section will detail all B2C large sales to unregistered persons, such as interstate sales (invoice value greater than Rs.2.5 lakhs).
Details of sales to unregistered dealers will be included (B2C Others). Sales of less than 2.5 lakhs within and between states must be mentioned. In a consolidated summary, intra-state sales can be mentioned. State-by-state interstate sales must be mentioned.
This heading will include any changes in B2B and B2C Large details from previous months. Original debit and credit notes from the previous month will be provided here. Changes to invoices and issued debit and credit notes will also appear here. Original details must be mentioned in the case of revisions.
This section will detail changes in B2C sales from previous months (originally disclosed in Table 7). In a consolidated summary, intra-state sales can be mentioned. State-by-state interstate sales must be mentioned.
1. On account of outward supply: This subheading will detail the current month's tax liability for outward supplies.
2. Because the differential ITC in Table 4 is negative:
This will include any additional tax due to the reversal of ITC (i.e., differential ITC being negative) on any changes to earlier months' imports (Table 4).
This section will contain the details of the tax you paid during the month. The IGST, CGST, SGST, and Cess will be broken down. The taxpayer has the option of paying in cash or using the ITC.
This heading will detail the amount of interest and late fees due and paid as a result of the return's late filing.
All refunds received into the electronic cash ledger will be listed under this heading. A dropdown menu allows the NR to choose which bank account the refund should be sent to.
This will display the debit entries in the electronic cash ledger, which are cash outflows for tax, interest, and late fees. It is filled in after the tax is paid and the return is submitted.
Finally, the authorised signatory verifies the return. A representative of the NR, the authorised signatory, must be a resident of India with a valid PAN.
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