GSTR 6
In this artical you will know about GSTR 6, Who can file, Due date and it's Importance.
What is GSTR 6?
GSTR 6 is a monthly return that an input service distributor has to file. It contains the details of ITC (Input Tax Credit) received by ISD (International Subscriber Dialling) and includes all the documents issued for distribution of ITC and also the manner of disbursement of such credit against all relevant tax invoices. There are a total of 11 sections in GSTR 6.
Who can File GSTR 6?
Taxpayers registered as Input Service Distributors (ISDs) are required to submit a monthly statement of the input credit compulsorily distributed in Form GSTR 6.
Due Date to File GSTR 6
GSTR 6 can be filed on completion of a particular month.
Form GSTR 6 should be filed by the 13th of the following month. In Form GSTR-6, you have to present the details of the distributed ITC.
Importance of GSTR 6
GSTR 6 is an important form. It contains all the details of documents issued for the distribution of input tax credit. It also includes the method of disbursement of credit and tax invoices on which the credit is received.
Pre-conditions for filing GSTR-6
Taxpayers must be registered as ISD and have a 15 digit PAN-based GSTIN.
Taxpayers must have valid login credentials (user ID and password).
During the period in which it was active, the taxpayer will have the option to file Form GSTR 6 for the canceled GSTIN.
The taxpayer must have an active mobile number as indicated in his / her registration statement which is presented on the GST portal at the time of registration or has been amended for authentication through EVC.
Taxpayers must have a valid and non-expired or unrestricted digital signature certificate.
Input Service Distributor (ISD) Concept
The input service distributor is the office of a business unit, which receives invoices for services used by its branches. It distributes the tax paid between the branches of the business on a proportional basis and an ISD is issued.
Digital Signature Certificate (DSC)
Digital signature certificate (DSC) signatures are those which are in the electronic format of physical or paper certificates.
It can be submitted electronically to digitally sign someone's identity, cess internet, or documents.
In India, DSCs are issued by authorized certification authorities. The GST portal only accepts PAN-based second and third-tier DSCs.
Electronic Verification Code (EVC)
The Electronic Verification Code (EVC) authenticates the user's identity by generating an OTP on the GST portal.
The OTP registration is sent to the registered mobile phone number of the authorized signatory, filled in Part A of the application.
How to file GSTR 6
GSTIN – 15 digits GSTIN of the dealer.
Name of the Registered Person – The name of the taxpayer will be auto-populated.
Input tax credit received for distribution – This section will contain invoice wise details of all the inputs received, for which ITC is being distributed (Details in this section will be auto-populated)
Total ITC / Eligible ITC / Ineligible ITC to be distributed for the tax period – In this section, all ITC credited to the input service distributor will be included separately in the total amount of ITC, qualified ITC, and ineligible ITC.
Distribution of ITC reported in Table 4 –In this section, the complete distribution of ITC in returns by ISD is reported. Based on this, the dealer to whom the credit will be given will be able to claim ITC.
Amendments in the information furnished in earlier returns in Table 3 – In this section, if there is a mistake in the invoice details for the inward supply provided in the previous return, it can be corrected here.
ITC mismatches and reclaims to be distributed in the tax period – In this section changes in total ITC due to mismatch or correction of mismatch can be done in this section by regaining ITC.
Distribution of ITC reported in Tables 6 & 7 – Changes in the amount of credit disbursed to dealers may be made in this section due to the details recorded in Tables 6 and 7.
Redistribution of ITC distributed to a wrong recipient – Any incorrect distribution of ITC to dealers in previous returns can be recorded in this section.
Late Fees - What is paid by the dealer will have to be entered in this section. (If there is anybody) (if any).
Refund claimed from electronic cash ledger – This section will include the details of the refund claimed from the electronic cash ledger.
Disclaimer: This article is intended for general consumption only. The information in the article was accurate at the time of publication, but it is subject to change due to changes in government rules and regulations. The contents of the blog may not be copied unless prior permission is obtained.
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