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GST-7 2018-11-21T10:49:39+00:00

GSTR – 7

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Meaning of GSTR – 7

  • GSTR-7 is the return form meant for filing TDS.

  • In the case of GSTR-7, the taxpayer should be registered and the tax would be deducted for payments made to vendors/suppliers for receiving inwards supplies.

  • The TDS amount paid gets reflected into the credit ledger of the deductee. The deductee should make claims of the credit of the deducted tax in the electronic cash ledger by the deductor.  

    • As mentioned by the GST law, TDS is deducted from the following individuals/entities:
    1. Any department or Establishment of the Central or State Government
    2. Government agencies
    3. Local authorities
    4. Notified individuals or groups by the State or Central Government as per the recommendations of the GST Council.
    • 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.
      • Any society whose registration is made under the Societies Registration Act, 1860 and established by the Central or any State Government or a Local Authority
      • Public sector undertakings
    • The above deductors are required to provide TDS where the total value of supply under the contract exceeds Rs 2.5 Lakhs. The TDS rate is 2% (CGST 1% + SGST 1%) for Intra-state supplies and 2% IGST for interstate supplies.
    • Although in case the location of the supplier and the place of supply is different from the state of registration of the receiver, then no TDS will be deducted.  
  • As intimated by the 22nd GST Council meeting held on 6th October 2017, TDS has been put on hold provisionally and it will be implemented later.

Frequency & Details of filing GSTR-7

  • GSTR- 7 is to be filed on monthly basis.

  • GSTR 7 once filed cannot be revised. In the case of any error, rectification can be done while filing for the next month’s return.

  • GSTR 7 once filed cannot be revised. Any mistake made in the return can be revised in the next month’s return.