GSTR 7- What is GSTR 7 - How to File GSTR7 and Due Date

What is GSTR 7?

Every taxpayer has to register themselves under GST and GST return filing should be done periodically and monthly as well. GSTR is segregated in 11 types, which are GSTR 1, GSTR 2, GSTR 3, GSTR 4, GSTR 5, GSTR 6, GSTR 7, GSTR8, GSTR 9, GSTR 10, GSTR 11. Let us understand what is GSTR 7 in detail. 

GSTR 7 return filing is a monthly return which is to be done by a taxpayer, who have to deduct TDS (Tax Deducted at Source) under GST. 

Here in GSTR 7 return, the entire details of TDS amount, TDS source, TDS deduct will be shown. GSTR 7 form is to be filed by specific taxpayers and not by every registered taxpayer. 

How To File GSTR 7?

GSTR 7 form is to be filed by the taxpayers who have to deduct TDS, it is a monthly filing to be done. The details are shown in part C to each deductee. Let us understand what is the procedure and how to file GSTR 7.

While GSTR 7 filing, the taxpayer has to mention few details such as mentioned below:

• As soon as the taxpayer gets registered with GST, they will be provided with a GSTIN (Goods and Services Tax Identification Number). This GSTIN will be auto-generated as per the earlier filing. 

• Along with this Legal and Trade name of the taxpayer will be auto-generated.

• Amendment of tax deducted and entire details regarding the same.

• • Interest, late fees payable and late fees paid.

  • Refund claimed by electronic cash ledger

  • Debit entries in electronic cash ledger for TDS.

  • As soon as the form is completed the taxpayer has to provide his DSC(Digital Signature Certificate) details. And submit the form.

GSTR 7 Due Date

The GSTR 7due date for a specific month can be filed till the end of the same month or before 10th of next month. (E.g.: If you are documenting the GSTR 7 for Jan 2018 at that point, you need to record it before the 10th of Feb 2018).

Who should File GSTR 7?

GSTR 7 has to be filed by the taxpayers who have to deduct TDS. There are few entities who have to file GSTR 7. Local authorities, Department under central or state government, Governmental agencies are the one who has to file GSTR 7. There are few more classifications who have to deduct TDS such as the businesses which are owned by the government by 51\\% which means the government has some control over the business. 

The TDS can be deducted only when the location of the supplier and the location of the supply will be the same, or else it is not possible to deduct the tax.

Late Fees and Penalty for GSTR 7

The interest is calculated as 18\\% per annum after the due date for GST payment. This is calculated by the taxpayer on the amount of outstanding tax to be paid.
The GSTR 7 late fees are rupees 100 per day and it is liable for per Act. The maximum amount is 5000 rupees. The late fees of rupees 100 are only for SGST, CGST, this is not for IGST. Suppose you fall under SGST and CGST so the late fees would be 100 for SGST and 100 for CGST total would be Rs 200/day. 

GSTR 7 Format - GSTR 7 Excel Format & Form Download

In GSTR 7 format, most of the details will be auto-populated while filing GSTR 7. Along with this, the details which should be filled are GSTIN, Legal and Trade name of the taxpayer will be auto-generated, Amendment of tax deducted and entire details regarding the same, Interest, late fees payable and late fees paid, Refund claimed by electronic cash ledger, Debit entries in electronic cash ledger for TDS.It is also possible to get the GSTR 7 excel format which will help to enter the data in bulk.