What is GSTR 7?

GSTR 7 is the return that has to be filed by the tax deductor about tax deducted at source.Deductor is required to file the return and has to provide the detail of amount of TDS in his return. When deductor pays the amount of TDS, it shall get reflected into the credit ledger of the deductee. The deductee shall claim credit, in his electronic cash ledger, of the tax deducted by the deductor.

Apart from the return the Tax deductor has to furnish the Certificate of Deduction to the deductee which shall include:

  1. the contract value,
  2. the rate of deduction,
  3. the amount deducted,
  4. an amount paid to the appropriate Government and
  5. such particulars as may be prescribed in this behalf.

GSTR 7 has a total of 8 headings, the taxable person need not worry as most of these will be pre-filled. But we need to understand certain terms:

  1. GSTIN – Goods and Services Taxpayer Identification Number
  2. UIN – Unique Identification Number
  3. UQC – Unit Quantity Code
  4. HSN – Harmonised System of Nomenclature
  5. SAC – Services Accounting Code
  6. POS – Place of Supply of Goods and Services
  7. B2B – From one registered person to another registered person
  8. B2C – From registered person to unregistered person

Format OF GSTR-7: Return of TDS under GST

1-2 Basic details

gstr7_table1,2

3. TDS details

gstr_7_table3

4. Revision in TDS details

gstr-7-4

5. Tax deduction at source and paid

gstr-7-5

6. Interest, late Fee payable and paid

gstr7-6

7. Refund claimed from electronic cash ledger

gstr-7-7

8. Debit entries in electronic cash ledger for TDS/interest payment [to be populated after payment of tax and submissions of return]

gstr-7-8

Declaration

gstr7-declaration

In case you are confused about GST as a business owner, feel free to consult the GST experts at LegalRaasta. You can get comprehensive assistance on GST Registration online and GST Return Filing online. You can also use our GST software for doing end-to-end GST compliance.