GSTR – 7
GSTR 7 return is to be filed by the persons who is required to deduct TDS under GST. It contains the details of TDS deducted, TDS liability payable and paid, TDS refund claimed if any etc.
Who are required to deduct TDS under GST
As per the GST law following people/entities need to deduct TDS under GST:-
- Central or State Government’s department or establishment.
- Local authority
- Governmental agencies
- An authority or a board or any other body which has been set up by Parliament or a State Legislature or by a government, with 51% equity ( control) owned by the government
- A society established by the Central or any State Government or a Local Authority and registered under the Societies Registration Act, 1860
- Public sector undertakings
- Persons or category of persons notified by the Central or a State Government.
The above deductor is required to TDS where the total value of supply under a contract exceeds INR 2.50 Lakhs. The TDS is to be deducted @ 2% (CGST 1% + SGST 1%) in case of intrastate supply and 2 % (IGST) in case of interstate supplies.
Exception: The TDS is not deductible when the location of the supplier and place of supply is different from the registration place (State) of the recipient.
Importance of Form GSTR 7
The GSTR 7 shows the details of TDS deducted, amount of TDS paid and payable, any refund of TDS claimed. The deductee can claim the input credit of such TDS deducted and utilize for the payment of output tax liability. Details of TDS deducted are available electronically to each of the deductees in PART ‘C’ of Form GSTR 2A after the due date of filing of Form GSTR 7. The certificate for such TDS deducted shall be made available to the deductee in Form GSTR 7A on the basis of return filed in GSTR 7.
Due Date to file GSTR 7
Due date to file GSTR 7 is 10th of the following month. For example the Due date of filing GSTR 7 for February is 10th March.
However, the due date to file GSTR 7 for the month of October to January, 2019 has been extended till 28th February, 2019.