GST Return

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GST Return

GST Return

Every Registered taxable person must furnish every calendar month in prescribed form and manner, an electronic return

Of inward and outward supplies of goods and/or services

Input tax credit availed

Tax payable

Tax paid and

Other particulars as may be prescribed

Within 20 days after the end of such month

A return furnished by the registered taxable person without payment of full tax due as per the return shall not be treated as a valid return for allowing input tax credit in respect of supplies made by such person

Dual GST Structure – CGST, SGST & IGST

India is a federal country where both the Centre and the States have been assigned the powers to levy and collect taxes through appropriate legislation. Both the levels of Government have distinct responsibilities to perform according to the division of powers prescribed in the Constitution for which they need to raise resources. A dual GST will, therefore, be in keeping with the Constitutional requirement of fiscal federalism.

Centre will levy and administer CGST & IGST while respective states will levy and administer SGST

GST Return : Type of Return, Due Date, and Forms

Type of Transaction	Tax to be levied
Intra-State Transactions	1. CGST (Central Goods and Services Tax) 2. SGST (State Goods and Services Tax )
Inter-State Transactions	IGST (Integrated Goods and Services Tax)

It would be a dual GST with the Centre and States simultaneously levying it on a common tax base. The GST to be levied by the Centre on intra-State supply of goods and / or services would be called the Central GST (CGST) and that to be levied by the States would be called the State GST (SGST). Similarly, Integrated GST (IGST) will be levied and administered by Centre on every inter-state supply of goods and services.