Input Service Distributor returns must report inward supplies, allocate input tax credit, and reconcile ISD ledger monthly. The draft GSTR-06 requires Input Service Distributors to report inward supplies and allocate input tax credit across IGST, CGST and SGST, with supplier ... Summary
Input Service Distributor returns must report inward supplies, allocate input tax credit, and reconcile ISD ledger monthly.
The draft GSTR-06 requires Input Service Distributors to report inward supplies and allocate input tax credit across IGST, CGST and SGST, with supplier and invoice details auto-populated from counterparty returns. It provides fields for amendments to prior-period inward supplies and credit/debit notes, requires reporting of ISD credit distributions to recipients with tax-head breakdowns, and mandates an ISD ledger reconciling opening balance, ITCs received, reversals, distributions and closing balance, concluded by an authorised declaration and a monthly filing deadline.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
