The Indirect taxation regime in India is undergoing a new age reconstruction. It is witnessing the ultimate marriage of Centre and State tax laws to evolve a common Goods and Service Tax System for the entire country. The newly born tax system, which is currently incubating in the legislature, has been named the Goods and Service Tax (GST).
Various Forms Introduced in Model GST Law
One of the most radical changes brought in by the GST regime will be the scheme of regulatory compliance. Earlier service tax providers, registered under centralised registration scheme of the Central Government, on one hand, they were required to file only two returns in a year, along with annual return. On the other hand, the manufacturing sector which has vaster experience of working within tax regulatory framework was required to file monthly Excise and VAT return being state specific. The regulatory frameworks under State laws were complex and divergent.
Under the new GST regime 27 different types of returns have been prescribed. One needs to understand the scope of these returns and need to file only those specific returns that are applicable on the registered person.
The said forms have been enlisted below with their brief purpose:
| 1 | FORM GSTR-1
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Details of outward supplies of taxable goods and/or services.
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| 2 | FORM GSTR-1A
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Details of outward supplies as added, corrected or deleted by the recipient.
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| 3 | FORM GSTR-2
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Details of inward supplies of taxable goods and/or service claiming input credit.
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| 4 | FORM GSTR-2A
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Details of inward supplies made available to recipient on the basis of form GSTR-1 furnished by the supplier.
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| 5 | FORM GSTR-3
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Monthly return on the basis of finalization of details of outward supplier and inward supplies along with the payment of amount of tax.
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| 6 | FORM GSTR-3A
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Notice to a registered taxable person who fails to furnish return under Section 27 and Section 31 of model GST law.
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| 7 | FORM GSTR-4 | Quarterly return for compounding taxable persons.
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| 8 | FORM GSTR-4A | Details of inward supplies made available to the recipient registered under composition scheme on the basis of form GSTR-1 furnished by supplier.
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| 9 | FORM GSTR-5 | Return for non-resident foreign taxable person.
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| 10 | FORM GSTR-6 | Input Service Distributer (ISD) Return.
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| 11 | FORM GSTR-6A | Details of inward supplies made available to the ISD recipient on the basis of form GSTR-1 furnished by the supplier.
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| 12 | FORM GSTR- 7 | Return for authorities deducting tax at source.
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| 13 | FORM GSTR-7A | Tax deducted of source (TDS) certificate.
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| 14 | FORM GST-ITC-1 | Communication of acceptance, discrepancy or duplication of input tax credit claim.
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| 15 | FORM GSTR-8 | Details of supplies effected through e-commerce operator and the amount of tax collected as required under sub- section (1) of section 43 C.
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| 16 | FORM GSTR-9 | Annual return.
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| 17 | FORM GSTR-9A | Simplified annual return by compounding taxable persons registered under section 8 of companies Act 2013.
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| 18 | FORM GSTR-9B | Reconciliation statement
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| 19 | FORM GSTR-10 | Final return.
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| 20 | FORM GSTR-11 | Details of inward supplies to be furnished by a person having unique identification number (UNI).
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| 21 | FORM GST-TRP-1 | Application for enrolment as tax return preparer.
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| 22 | FORM GST-TRP-2 | Enrolment certificate as tax return preparer.
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| 23 | FORM GST-TRP-3 | Show cause to as tax return preparer.
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| 24 | FORM GST-TRP-4 | Order of cancelling enrolment as tax return preparer.
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| 25 | FORM GST-TRP-5 | List of tax return preparers.
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| 26 | FORM GST-TRP-6 | Consent of taxable person to tax return preparer.
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| 27 | FORM GST-TRP-7 | Withdrawal of authorization to a return preparer.
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Lastly, it is very decisive and vital for tax payers to adhere to compliance scheme with utmost sincerity as defaulters would be dealt stringently.
