{"id":130,"date":"2018-03-31T12:53:42","date_gmt":"2018-03-31T12:53:42","guid":{"rendered":"http:\/\/www.gstonlineregistration.in\/blog\/?p=130"},"modified":"2018-03-31T12:53:42","modified_gmt":"2018-03-31T12:53:42","slug":"gst-payments-refunds","status":"publish","type":"post","link":"https:\/\/www.gstonlineregistration.in\/blog\/gst-payments-refunds\/","title":{"rendered":"GST payments and refunds – GST Registration in Coimbatore"},"content":{"rendered":"

GST<\/a> payments and refunds:<\/strong><\/span><\/p>\n

If a dealer once files a GSTR-1 and GSTR-2, then they are required to file a GSTR-3 and can make the GST payment<\/a>. If a refund is required to be claimed, the same could be done by filing the relevant refund related forms.<\/span><\/p>\n

Payments to be made under GST:<\/strong><\/span><\/p>\n

As per GST, the tax which is to be paid is mainly divided into three categories. They are:<\/span><\/p>\n

\"payments\"<\/span><\/a><\/span><\/p>\n

For instance,\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/span><\/p>\n

If you sell any goods from Delhi to Bombay, you need to pay the tax for CGST and SGST not for IGST because; the supply has been done within the states.<\/span><\/p>\n

If you sell any goods within Bombay, you are required to pay the tax for IGST since the supply has been done within the particular state.<\/span><\/p>\n

Apart from the above-mentioned taxes, a dealer is required to make these payments. They are as follows:<\/span><\/p>\n

Tax deducted at source (TDS)- <\/strong><\/span><\/p>\n

TDS is a mechanism in which the tax would be deducted by the dealer before making the payment to the supplier.<\/span><\/p>\n

For example:<\/span><\/p>\n

The contracting agency gives a road laying contract to a builder; the contract value is Rs.10 lakh.<\/span><\/p>\n

When the government agency makes a payment to the builder TDS @1% (which amount to Rs.10000) that will be deducted and the balance amount will be paid.<\/span><\/p>\n

Tax collected at source (TCS):<\/strong><\/span><\/p>\n

It is mainly for e-commerce aggregators which mean any dealer selling through e-commerce will receive the payment after deduction of TCS @ 2%.<\/span><\/p>\n

This provision is currently relaxed and would not be applicable to notified by the government.<\/span><\/p>\n

Reverse charge:<\/strong><\/span><\/p>\n

When the payment liability shifts from the supplier of goods and services to the receiver are called reverse charging.<\/span><\/p>\n

GST <\/a>payment process in a diagram:<\/strong><\/span><\/p>\n

\"payments\"<\/span><\/a><\/span><\/p>\n

Calculate GST payment:<\/strong><\/span><\/p>\n

Actually, the input tax credit has to be reduced from outward tax liability in order to calculate the total GST payments to be made.<\/span><\/p>\n

TCS and the TDS have reduced from the total GST to arrive at the net payable figure. Late fee and the interest will be added to arrive at the final amount.<\/span><\/p>\n

Input tax credit also cannot be claimed on interest and late fees. This late fee and the interest are required to be paid in cash.<\/span><\/p>\n

The calculation is different for different types of dealers. They are as follows:<\/span><\/p>\n

Regular dealer:<\/strong><\/span><\/p>\n

A regular dealer is the one who is liable to pay GST<\/a> on the outward supplies made and also can claim Input Tax Credit (ITC) on the purchase made by him.<\/span><\/p>\n

GST<\/a> which is payable by a regular dealer is the difference between the outward tax liability and ITC.<\/span><\/p>\n

Composition dealer:<\/strong><\/span><\/p>\n

GST payment for a composition dealer is comparatively simpler. A dealer who opts for composition scheme needs to pay a fixed percentage of GST on the total outward supplies made.<\/span><\/p>\n\n\n\n\n\n\n\n
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Composition Scheme<\/strong><\/span><\/span><\/td>\n<\/tr>\n
Type of business<\/span><\/span><\/td>\nCGST<\/strong><\/span><\/span><\/td>\nSGST<\/strong><\/span><\/span><\/td>\nTotal<\/strong><\/span><\/span><\/td>\n<\/tr>\n
Manufacturer and traders (Goods)<\/span><\/td>\n0.5%<\/span><\/td>\n0.5%<\/span><\/td>\n1.0%<\/span><\/td>\n<\/tr>\n
Restaurants not serving alcohol<\/span><\/td>\n2.5%<\/span><\/td>\n2.5%<\/span><\/td>\n5%<\/span><\/td>\n<\/tr>\n
Service providers are not eligible for composition scheme<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Who should make the payment?<\/strong><\/span><\/p>\n

Below mentioned dealers are required to make the GST payment:<\/span><\/p>\n