1) RATE STRUCTURE UNDER GST

Good and Service Tax (GST) means any tax supply on goods, or services or both except
taxes on supply of alcoholic liquor for human consumption GST is form of Indirect tax
(i.e. tax paid by the supplier but ultimately bourne by the consumer)
GST aims to remove the unpredictability and bring equality in the prices of products
across the country. It eventually aspires to reduce the manufacturing cost of businesses
and create a unified and streamlined market where the cost of goods and services will be
more even across the country.
Following are the various types of GST.
 CGST –Central GST
 SGST – State GST
 IGST –Integrated GST
Harmonized system of Nomenclature – HSN code is used for classifying goods under
GST, A new scheme of classification of services have been devised wherein the services
of various descriptions have been classified under various sections, headings and groups.
GST Rates
- GST Rates for supply of goods: For inter-State supply, IGST rates are: nil, 0.25%,
3%, 5%, 12°! %, 28%. For intra-State supply, CGST will be 50% of IGST plus SGST
(or UTGST) will of IGST. Besides, compensation cess is applicable in the case of
supply of tobacco products, pan masala, motor cars, coal, aerated waters, etc.

- GST rates for supply of services: For inter-State supply, IGST is applicable. General
rate of IGST on services is 18%. However, in a few cases, services are taxed at 5%,
12% and 28%. For intra-State supply, CGST plus SGST (or UTGST) are applicable.
CGST and SGST (or UTGST) rates are 50% of IGST rates. Moreover, a few services
are exempt from GST

- Import of goods: Import of goods is subject to basic customs duty, education cess
and secondary and higher education cess. In addition, IGST and GST compensation
cess too will be applicable. By virtue of section 25(1) of Customs Act, exemption is
available on certain imports from payment
2) FILLING ON GST RETURNS

A GST Return showcases the details of your purchase, tax paid on purchases, sales,
and tax collected on sales. As per the GST law, every individual/Company/LLP
registered under the GST Act has to furnish the details of sales, purchases and the tax
paid by filing for GST returns with the administrative authorities.
The GST return filing process has to be done electronically in the GST portal. A
facility has to be offered for the manual process of GST return filing tasks.

A GST Return document mentions all details related to GST invoices, payments, and
receipts for a specific period. A taxpayer is liable to declare all transactions related to
 the revenue of the business based on which the authorities will calculate the amount
of tax to be paid by the business.
Business owners can file GST online on the official portal provided by GSTN.
While filing GST returns, the registered dealer requires the following details for the
concerned period.
 Total sales.
 Total purchases.
 Output GST (GST paid by customers.)
 ITC or Input Tax Credit (GST paid by the business for purchases)

Once filed, a registered dealer can check GST Return filing status online and comply
with necessary requirements accordingly.

The 10 Steps in filling GST Return online

1. Make sure that you are registered under GST and have the 15-digit GST
identification number with you based on your state code and PAN. In case you do not
have this number, first register online to get it.

2. Next, visit the GST portal.

3. Click on the ‘Services’ button.

4. Click on ‘Returns dashboard’ and then, from the drop-down menu, fill in the
financial year and the return filing period.

5. Now select the return you want to file and click on ‘Prepare online’.

6. Enter all the required values including the amount and late fee, if applicable.

7. Once you have filled in all the details, click on ‘Save’ and you will see a success
message displayed on your screen.

8. Now click on ‘Submit’ at the bottom of the page to file the return.

9. Once the status of your return changes to ‘Submitted’, scroll down and click on the
‘Payment of tax’ tile. Then, click on ‘Check balance’ to view cash and credit balance,
so that you know these details before paying tax for respective minor heads. Next, to
clear your liabilities, you need to mention the amount of credit you want to use from
the credit already available. Then click on ‘Offset liability’ to make the payment.
When a confirmation is displayed, click on ‘OK’.

10. Lastly, check the box against the declaration and select an authorized signatory
from the drop-down list. Now click on ‘File form with DSC’ or ‘File form with EVC’
and then click on ‘Proceed’. Make the payment in the next step for your respective
GST.