GSTR-6 Return is a document/statement filed by Input Service Distributor and file monthly GSTR-6 Return within thirteen days after the end of the month.
Input Service Distributer’s can now file GSTR-6 Form for the month of Aug 2017 to Jan 2018.
What is the importance of GSTR-6 return?
GSTR 6 contains details of all the documents issued for distribution of ITC and the manner of distribution of credit and tax invoice on which credit is received.
Who Should File GSTR-6 Return
All the Input Service Distributors required to file the return excluding Composition Dealers, Taxpayers liable to collect TCS, Taxpayers liable to deduct TDS, Suppliers of OIDAR (Online Information and Database Access or Retrieval), Compounding taxable person, Input Service Distributors, Non-resident Taxable Person.
GSTR 6 has to be filed by every ISD even if it is a nil return.
Who is an ISD (Input Service Distributor)?
ISD works as Broker between the manufacturer businesses or final product producers receives invoices from supplier toward the purchase of input services. issues a prescribed document for the purposes of distributing the credit of central tax (CGST), State tax (SGST)/ Union territory tax (UT-GST) or integrated tax (IGST) paid on the said services to a supplier of taxable goods and/or services having the same PAN as that of the ISD.
The details in the returns will be made available to the respective recipients in their GSTR 2A. The recipients may include these in its GSTR-2 and take credit. For The year 2017, ISD needs to file the form until 31st December 2017
For all the coming month, ISD needs to file the form before or on 13th of the succeeding month of the tax period
The Following Information Is Needed To Be Added To File GSTR 6:
Table 1&2: Details Of The Taxpayer
GSTIN – GSTIN stands for Goods and Services Taxpayer Identification Number will be given on state-wise basis for every PAN. It is of 15-digits. This identification of taxpayer will be auto-filled at the time of return filing.
Legal Name of the Registered Person – Name of the taxpayer along with trade name, if any, will be auto-filled at the time of logging into the common GST Portal.
Month-Year(Period): The taxpayer requires to select the date from the drop-down menu as well as select the year and month for which GSTR-6 is being filled.
3.Input tax credit received for distribution
ISD Fills out the details of supplies received from a registered person and the amount of input credit available for the current tax period. Most of the information especially inward supply will be auto-populated from counter-party GSTR-1 and GSTR-5. The person has to fill all the credit covered under CGST/SGST, and IGST.
4.Total ITC/Eligible ITC/Ineligible ITC to be distributed for tax period
This table will include the details related to the total ITC that is auto-populated by the Table No Whether eligible and ineligible
Distribution of input tax credit reported in Table 4
This heading will include the information regarding the available amount of credit under CGST, SGST, and IGST.
6.Amendments in information furnished in earlier returns in Table No. 3
If there is any mistake done in the invoice details for inward supplies provided in the past returns then correction can be done from here.
- Input tax credit mismatches and reclaims to be distributed in the tax period
If there is any changes or mismatches or reclaims to be done ITC under CGST, SGST, and IGST.
- Distribution of input tax credit reported in Table No. 6 and 7
The amount of input tax credit to be distributed among Recipient.If any changes or correction that need to be done in Distribution of the amount of eligible ITC.
- Redistribution of ITC distributed to a wrong recipient
If the amount of ITC is distributed wrong vendor and needed changes in the earlier month, it will be redistributed here.
The late fee on account of CGST/SGST/IGST is required to be mentioned.
11.Refund claimed from electronic cash ledger
At last of filing the form, ISD needs to sign the form electronically to verify the correctness of the information.