What is GSTR-7?

GSTR-7 is a return form filed monthly by those taxpayers who are required to deduct their TDS under GST. It shows the details of –

  1. TDS deducted
  2. TDS liability payable
  3. TDS liability paid
  4. TDS refund claimed, if any

Who are required to deduct TDS under GST?

The following entities are required to deduct TDS under GST –

  • Any department or establishment formed by the state or central government
  • Government agencies
  • Local authority
  • Persons or category of persons authorized by state or central government to deduct TDS on the recommendation of the council.
  • Any board, authority or any other body formed by government, parliament, state legislature with equity holding of 51% or more.
  • Any society (registered under society registration act, 1860) established by central government or any of the state government or local authority
  • Public sector undertakings

Who can file GSTR-7

GSTR-7 is filed by those registered tax payers who want to deduct taxes on inward supplies at the time of making payments to vendors/suppliers. GSTR-7 must contain the transaction details where tax is deducted at source by the deductor along with the complete details of the supplier.

GSTR-7 Filing Due Dates

GSTR-7 return must be filed by the taxpayers on or before 10th of every month. The due dates for filing GSTR-7 are given below –

Month Due date
May 2019 10th June 2019
June 2019 10th July 2019
July 2019 10th August 2019
August 2019 10th September 2019
September 2019 10th October 2019
October 2019 10th November 2019
November 2019 10th December 2019
December 2019 10th January 2020

How to revise GSTR-7?

Once GSTR-7 return is filed, it cannot be revised but if you have done any mistake in the current period, you are having the option to rectify that mistake in the next month. For ex – If you made a mistake in September GSTR-7, you can rectify that mistake in October GSTR-7.

Penalty for Late GSTR-7 Filing

Late filing of GSTR-7 leads to heavy fines & penalties. Interest will be charged at 18% per annum and it is calculated by the tax payer on the outstanding tax amount. The late fee is Rs.200 per day i.e. Rs.100 under CGST and Rs.100 under SGST. However, the maximum penalty would be Rs.5000.

GSTR-7 Return Form Format

Download Form GSTR-7 by clicking below link –