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

 








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.

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.

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?

As per the GST law, the following individuals/entities can deduct TDS :

- 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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