GSTR 6 FILING

When is GSTR 6 due?

• The GSTR-6 for a particular month can be filed upon the completion of that month.

• The last day for filing this return is before the 13th of the following month.

Late fees have been reduced to Rs. 50 per day. However, no provision for reduction is made where NIL return is filed.

Who should file GSTR 6?

All the Input Service Distributors are required to file the return excluding:

• Composition Dealers

• Taxpayers liable to collect TCS

• Taxpayers liable to deduct TDS

• Suppliers of OIDAR (Online Information and Database Access or Retrieval)

• Compounding taxable person

• Non-resident Taxable Person.synmac provide you the best gst return filing and gst consultants in bangalore, chennai & delhi.

How to revise GSTR 6?

There is no provision under GST for revising GSTR 6. Any mistakes made in the return can be corrected while filing GSTR 6 of the following month.

What is GSTR 6A?

GSTR 6A is an automatically generated form based on the details provided by the suppliers of an Input Service Distributor in their GSTR 1. GSTR-6A is a read-only form. Any changes to be made in GSTR-6A have to be done while filing GSTR-6. You can view GSTR-6A by going to the Return Dashboard on the GST Portal and clicking on ‘PREPARE ONLINE’ on GSTR6A tile.

Note: You do not have to file GSTR-6A. It is a read-only document.

Prerequisites for filing GSTR-6

To file the GSTR-6:

• You must be a registered tax payer under the GST with a 15 digit PAN based GSTIN.

• The aggregate turnover of your business should be greater than 20 lakh rupees.

• This return does not apply to the registered Input Service Distributors under the GST who have either opted for the composition scheme or have a Unique Identification Number (UIN).

• This return is also not applicable to non-resident tax payers.

• You are required to capture the details of all taxable purchases made by you (the ISD/head office) on behalf of your other establishments/branches. You also need to capture the details of how you distributed the input tax credit you got on your purchases across your branches (through internal transactions between the head office and its branches).synmac provide you the best gst return filing and gst consultants in bangalore, chennai & delhi.

How to file GSTR 6

The GSTR 6 format collects details on ITC & inward supplies. Let’s take a look at each section in detail.

1.GSTIN – Here you have to specify your unique PAN-based 15-digit Goods and Services Taxpayer Identification Number (GSTIN).

2.Name of the Taxpayer – This field should contain the name of the registered tax payer for your business.

3.Period – (Month – Year) – State the period for which you are filing the GSTR-6.

4.Supplies from Registered Taxable Persons –

• Under this section, you the ISD, is required to declare all the purchases you made from other businesses (who are registered under GST) along with the amount of input credit/tax refund against various tax heads(CGST, SGST and IGST) that you have availed this month. This also includes those purchases where the tax is collected under reverse charge.

• Now here’s the good news, this data will be auto-generated whenever the vendors you bought those goods and/or services from file their GSTR-1 or GSTR-5 (if they are foreign tax payers).

• You also have to provide invoice level information of those purchases where the goods were delivered in multiple lots.

• Using Section 4A of the GSTR-6, you can amend/modify the details of purchases made by you during earlier tax periods. If you do, then you are also required to submit both the original invoices and the modified ones as proof.

5.Details of Credit/Debit Notes –

• Here, you can declare the details of all credit notes and debit notes that you have raised for your transactions during this month.

• Using the Section 5A of GSTR-6, you can make amendments to all those debit/credit notes that have been issued during earlier tax periods.

6.Input Service Distribution –

• Here, you as an input service distributor is required to provide the details of all branches that receive input credit along with their respective GSTIN along with the amount of ISD credit distributed under different components of the GST (IGST, CGST, and SGST).

• You can revise the amount of credit distributed during earlier tax periods using the Section 6A of GSTR-6. In case you amend this data for a particular tax period then you are required to submit both the original transactions as well as the modified versions of them as proof.

7.ISD Ledger – This section is a record of all transactions that were carried out between a company’s head office and its branches for distributing the ITC received by the head office among all its branches. This ledger keeps track of the Input Tax Credit Received, Input Tax Credit reverted and Input Tax Credit distributed and this information is classified under the three components of GST; SGST, CGST, and IGST. Upon filling up all the sections of the GSTR-6, you are required to declare the trueness of the document and sign it electronically.synmac provide you the best gst return filing and gst consultants in bangalore, chennai & delhi.