Attention GST taxpayers! File GSTR-7 return for Dec before 10 Jan

GST taxpayers

There is a piece of information for the Goods and Services Tax (GST) taxpayers. The Central Board of Indirect Taxes and Customs (CBIC) has notified to file the GSTR-7 Return for the month of December 2021 by 10 January 2022.

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The CBIC has also mentioned this for the GST taxpayers who are required to deduct Tax at Source (TDS) under GST! Late filing of GSTR-7 Return will attract late fees and interest.

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“Attention GST Taxpayers who are required to deduct Tax at Source (TDS) under GST! Due date to file your GSTR-7 Return for the month of December, 2021 is January 10, 2022,” the CBIC has tweeted.

What is GSTR-7

GSTR-7 is a return filed by the individual who deducts TDS under GST. GSTR-7 contains details of the TDS deducted, TDS liability payable and paid, TDS refund claimed, etc.

Who can deduct TDS under GST?

– A department or establishment of the Central or state government

– A local authority

– Governmental agencies

– Persons or categories of persons as may be notified by the Central or a state government on the Council’s recommendations

As per the Notification No. 33/2017 – Central Tax, 15th September 2017, the following entities can also deduct TDS:

– An authority, a board, or any other body set up by the Parliament, 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 the society registered under the Societies Registration Act, 1860

– Public sector undertakings

The above deductors must deduct TDS where the total value of supply under the contract exceeds Rs.2.5 lakh. The rate for TDS is 2% (CGST 1% + SGST 1%) in case of intrastate supply and 2% (IGST) in case of interstate supplies.

However, TDS will not be deducted when the location of the supplier and place of supply is different from the registration place (state) of the recipient.

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