GSTR 5 Filing Due Date

Last Updated at: January 15, 2021
751
Latest Update

Did you know that as of 14 September, 2020, delinking of the credit note/debit note with the original invoice has been implemented on the GSTN portal?

Don’t forget that your gstr 5 returns are due by the 20th of this month, failing which you will be liable for a fine of between Rs 50 and Rs 5000 per day+18% p.a. for every day after the 20th of the month. Save yourself the hassle!

 

What is GSTR 5?

GSTR 5 is a return that contains all business details for a non-resident (NR) taxpayer, including the details of sales and purchases. Information from GSTR-5 will flow into the GSTR-2 of the corresponding buyers.

All non-resident taxable persons registered under the Goods and Service Tax (GST) (during the period in which they carry out business transactions in India) are required to do their gstr 5 return filing. This will also include those suppliers who do not have a business establishment in India and have come in only for a short period.

When is the GSTR 5 due date?

As mentioned in the GST Act, GSTR 5 needs to be filed every month. The due date for the monthly GSTR 5 filing is the 20th of the next month. For example, the returns for October 2020 will be due on the 20th of November 2020.

Please note that a taxpayer will be liable to pay interest and late fee for any delay in GSTR 5 return filing. An interest of 18 % per annum will be payable on the outstanding amount for the duration of delay applicable from the next day (21st of the month) of the GSTR 5 due date. A late fee of Rs 50 (Rs 20 for nil return) per day will also be applicable. The maximum late fee is Rs 5000 for a GSTIN.

Under the Indian taxation system, all the goods and services are categorized into 6 slabs. It is significant for all business people to know under which category their goods or services fall. The GST rate finder service is used to find the GST rates of all the goods and services. This service is also referred to as the HSN finder. By using the HSN finder, we can also find the HSN codes for goods and services.

 

What are the details to be provided in GSTR 5 filing?

There are 14 headings in a gstr 5 form.

  1. GSTIN

You need to mention your GSTIN (Goods and Service Tax Identification Number).

  1. Legal name, trade name, and registration validity period

These details will be auto-populated by the system from the GSTIN

file GSTR 5 Now

These details will be auto-populated by the system from the GSTIN

You must report inputs and capital goods imported into India in the above-mentioned format.

You must report inputs and capital goods imported into India in the above-mentioned format.

In this heading, you can change any import details furnished in earlier returns.

You can make changes in-

  • Bill of entry
  • IGST rate
  • Taxable value
  • IGST amount and cess
  • Amount of available ITC
  • Differential ITC amount (The excess amount will be reversed and vice versa)

Note: You need to furnish both the original and the revised bill of entry details

You need to furnish both the original and the revised bill of entry detailsThis section of gstr 5 will contain all the details of B2B sales (invoice wise) in India, including those to the UIN holders. You must also provide details related to IGST/CGST and SGST (including cess) along with the place of supply (state).

This section of gstr 5 will contain all the details of B2B sales (invoice wise) in India, including those to the UIN holders

While doing gstr 5 filing, you need to furnish all details of B2C large sales in this heading. It will include all inter-state sales of invoice value greater than Rs 2.5 lakhs, made to unregistered persons.

While doing gstr 5 filing, you need to furnish all details of B2C large sales in this heading.

This section in gstr 5 return filing will include the sales made to unregistered dealers (B2C and others). You need to mention both the inter-state (state-wise) and intra-state (in consolidated form) sales below Rs 2.5 lakhs.

This section in gstr 5 return filing will include the sales made to unregistered dealers (B2C and others).

This section will include any changes made into the details of B2B and B2C large sales during the previous months. You need to mention details of –

  • Original debit and credit notes issued during a month
  • Changes made to invoices, debit notes, and credit notes

Original details need to be submitted in case of revisions.

Original details need to be submitted in case of revisions.

This section in gstr 5 return filing will include changes made into the details of B2C sales during the previous months (mentioned originally in Table 7 above). The inter-state sales need to be mentioned for every state. The intrastate sales may be mentioned in the form of a consolidated summary.

This section in gstr 5 return filing will include changes made into the details of B2C sales during the previous months

There are two parts in this heading of gstr 5 filing:

10 A. This subheading will include details of the tax liability for the current month for outward supplies.

10B. This subheading in gstr 5 will contain the additional tax applicable in case of any negative differential ITC, after making changes in the imports of earlier months (Refer Table 4).

This subheading in gstr 5 will contain the additional tax applicable in case of any negative differential ITC

This heading will include the details of tax being paid by you during the month (along with the break-up of IGST, CGST, SGST, and cess). You may opt to pay the tax either through ITC adjustment or by cash.

This heading will include the details of tax being paid by you during the month

This heading will include details of interest and late fee, payable and paid on account of late filing after the gstr 5 due date.

This heading will include details of interest and late fee, payable and paid on account of late filing after the gstr 5 due date

This heading in gstr 5 will have a mention of all the refunds claimed by you from the electronic cash ledger. You will need to select the bank account where you want to receive the refund.

This heading in gstr 5 will have a mention of all the refunds claimed by you from the electronic cash ledger

This last heading of the gstr 5 return filing will show all the debit entries in the electronic cash ledger. This will include the entire cash outflow against the payment of tax/late fee/interest. It has auto-population after the payment of tax and submission of the return.

Finally, the gstr 5 return is verified by the authorised signatory. The authorised signatory will be a designated representative of the non-resident taxpayer. He must also be a resident in India with a valid PAN. The verification statement is as follows-

Finally, the gstr 5 return is verified by the authorised signatory.

What are the consequences for not filing GST?

GST penalties and interest

 

 

0

GSTR 5 Filing Due Date

751

What is GSTR 5?

GSTR 5 is a return that contains all business details for a non-resident (NR) taxpayer, including the details of sales and purchases. Information from GSTR-5 will flow into the GSTR-2 of the corresponding buyers.

All non-resident taxable persons registered under the Goods and Service Tax (GST) (during the period in which they carry out business transactions in India) are required to do their gstr 5 return filing. This will also include those suppliers who do not have a business establishment in India and have come in only for a short period.

When is the GSTR 5 due date?

As mentioned in the GST Act, GSTR 5 needs to be filed every month. The due date for the monthly GSTR 5 filing is the 20th of the next month. For example, the returns for October 2020 will be due on the 20th of November 2020.

Please note that a taxpayer will be liable to pay interest and late fee for any delay in GSTR 5 return filing. An interest of 18 % per annum will be payable on the outstanding amount for the duration of delay applicable from the next day (21st of the month) of the GSTR 5 due date. A late fee of Rs 50 (Rs 20 for nil return) per day will also be applicable. The maximum late fee is Rs 5000 for a GSTIN.

Under the Indian taxation system, all the goods and services are categorized into 6 slabs. It is significant for all business people to know under which category their goods or services fall. The GST rate finder service is used to find the GST rates of all the goods and services. This service is also referred to as the HSN finder. By using the HSN finder, we can also find the HSN codes for goods and services.

 

What are the details to be provided in GSTR 5 filing?

There are 14 headings in a gstr 5 form.

  1. GSTIN

You need to mention your GSTIN (Goods and Service Tax Identification Number).

  1. Legal name, trade name, and registration validity period

These details will be auto-populated by the system from the GSTIN

file GSTR 5 Now

These details will be auto-populated by the system from the GSTIN

You must report inputs and capital goods imported into India in the above-mentioned format.

You must report inputs and capital goods imported into India in the above-mentioned format.

In this heading, you can change any import details furnished in earlier returns.

You can make changes in-

  • Bill of entry
  • IGST rate
  • Taxable value
  • IGST amount and cess
  • Amount of available ITC
  • Differential ITC amount (The excess amount will be reversed and vice versa)

Note: You need to furnish both the original and the revised bill of entry details

You need to furnish both the original and the revised bill of entry detailsThis section of gstr 5 will contain all the details of B2B sales (invoice wise) in India, including those to the UIN holders. You must also provide details related to IGST/CGST and SGST (including cess) along with the place of supply (state).

This section of gstr 5 will contain all the details of B2B sales (invoice wise) in India, including those to the UIN holders

While doing gstr 5 filing, you need to furnish all details of B2C large sales in this heading. It will include all inter-state sales of invoice value greater than Rs 2.5 lakhs, made to unregistered persons.

While doing gstr 5 filing, you need to furnish all details of B2C large sales in this heading.

This section in gstr 5 return filing will include the sales made to unregistered dealers (B2C and others). You need to mention both the inter-state (state-wise) and intra-state (in consolidated form) sales below Rs 2.5 lakhs.

This section in gstr 5 return filing will include the sales made to unregistered dealers (B2C and others).

This section will include any changes made into the details of B2B and B2C large sales during the previous months. You need to mention details of –

  • Original debit and credit notes issued during a month
  • Changes made to invoices, debit notes, and credit notes

Original details need to be submitted in case of revisions.

Original details need to be submitted in case of revisions.

This section in gstr 5 return filing will include changes made into the details of B2C sales during the previous months (mentioned originally in Table 7 above). The inter-state sales need to be mentioned for every state. The intrastate sales may be mentioned in the form of a consolidated summary.

This section in gstr 5 return filing will include changes made into the details of B2C sales during the previous months

There are two parts in this heading of gstr 5 filing:

10 A. This subheading will include details of the tax liability for the current month for outward supplies.

10B. This subheading in gstr 5 will contain the additional tax applicable in case of any negative differential ITC, after making changes in the imports of earlier months (Refer Table 4).

This subheading in gstr 5 will contain the additional tax applicable in case of any negative differential ITC

This heading will include the details of tax being paid by you during the month (along with the break-up of IGST, CGST, SGST, and cess). You may opt to pay the tax either through ITC adjustment or by cash.

This heading will include the details of tax being paid by you during the month

This heading will include details of interest and late fee, payable and paid on account of late filing after the gstr 5 due date.

This heading will include details of interest and late fee, payable and paid on account of late filing after the gstr 5 due date

This heading in gstr 5 will have a mention of all the refunds claimed by you from the electronic cash ledger. You will need to select the bank account where you want to receive the refund.

This heading in gstr 5 will have a mention of all the refunds claimed by you from the electronic cash ledger

This last heading of the gstr 5 return filing will show all the debit entries in the electronic cash ledger. This will include the entire cash outflow against the payment of tax/late fee/interest. It has auto-population after the payment of tax and submission of the return.

Finally, the gstr 5 return is verified by the authorised signatory. The authorised signatory will be a designated representative of the non-resident taxpayer. He must also be a resident in India with a valid PAN. The verification statement is as follows-

Finally, the gstr 5 return is verified by the authorised signatory.

What are the consequences for not filing GST?

GST penalties and interest

 

 

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