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GSTR-5 is a document or statement that has to be filed by every registered non-resident taxable person for the period during which they carry out business transaction in India. The document must contain the details of all outward supplies and inward supplies. Pre-requisites for filling GSTR-5
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FAQ :
Every registered non-resident taxable person who carries out business transactions in India without a business establishment there needs to file a GSTR-5.
The GSTR-5 return must contain details of all outward supplies and inward supplies made during the tax period.
You must be a non-resident foreign taxpayer without a business establishment in India and possess a temporary GST registration for the period of your business operations.
From October 2022 onwards, the GSTR-5 must be filed by the 13th of the following month or within 7 days of business closure, whichever is earlier.
Non-filing prevents you from filing subsequent returns and incurs fines and penalties. Late filing attracts an 18% per annum interest on outstanding tax and a late fee of ₹50 per day (₹20 for nil returns), capped at ₹5,000.
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