Hello everyone.
How are you all?
Sir, I am fine. You tell me.
I am fine here as well.
Today, we are going to start a very important topic of GST
Returns with you all.
GST Returns is the talk of the town.
Whenever we talk about anything in the market, it is about
GST Returns.
There are changes every day.
Updates keep coming.
Modifications keep coming on the portal.
First, we will explain you the whole base.
What happens?
Why does it happen?
What was the dream of the government?
To what extent is the theory part of the government, which
is written in the Act, practically being applied?
We will take you through everything one by one, step by
step, in detail.
Come, you have to write with me in today's class.
You have to write down.
So, be ready to write.
Put the heading above.
GST Returns.
Then he sells goods to someone.
The one who buys it is called a buyer.
Very, very good.
Then the seller.
He will sell goods to the buyer.
Seller will sell the goods to the buyer.
Will sell.
Okay? Then against this, he will make a bill.
Now, how much amount will be charged in the bill?
Tell me.
Sir, there will be a value of goods in the bill.
Let's say, ten thousand rupees.
Plus, what will be charged in the bill?
GST.
Very, very good.
Assume that this is a 12% rate.
So, 12% of 10,000 is equal to 1200 rupees.
And the total amount of the bill will be 11,200 rupees.
Okay? Yes.
Now, what will the buyer do?
Buyer will make a payment to the seller.
Buyer will make the payment to the seller.
10,000 or 11,200? 11,200.
11,200.
The entire bill amount will be paid.
Dear children, I am asking you from a black colored pen.
Now, the seller has 11,200.
How much will the seller keep in his own pocket?
He will keep in his own pocket.
The value of his goods is 10,000 rupees.
And the remaining 1,200 rupees, which he had charged in the
name of GST, who will he give it to?
He will give it to the government.
Okay, sir?
Now, friends and colleagues, you know that the government
is of two types.
One is the central government and the other is the state
government.
Sir, if the seller and the buyer are in the same state, for
example, both are in Haryana, or both are in UP, or both
are in Punjab, or both are in Assam, or both are in Goa,
right? If the seller and the buyer are in the same state,
then do you know how the seller will deposit the 1,200
rupees?
Half of it will be given to the central government, and
half of it will be given to the state government, i.e.,
Manoharlal Khattar ji.
600 rupees.
Okay? But, if the seller and the buyer are in a different
state, now I will write with a red pen,
for example, if the seller is in Haryana
and the buyer is in UP,
then what will happen?
So, this poor seller, will give the entire 1,200 rupees to
Modi ji.
Who will he give the entire 1,200 rupees to?
To Modi ji, i.e., the central government.
Then what will Modi ji do?
He will deposit 600 rupees in the central government fund,
in the union fund, i.e., in his own pocket, for the central
government.
And who will Modi ji deposit the remaining 600 rupees to?
To the Haryana government, Khattar ji, or to the UP
government, Yogi ji?
Tell me.
To the UP government, Yogi ji.
To the UP government.
Sir, why?
Why not to Khattar ji?
Tell me, what was the logic told to you?
Very good.
The money that has come out of the tax, from which state's
pocket?
UP.
Where is the buyer?
UP.
From whose pocket has it come out?
The tax has come out of the UP man's pocket.
So, that money should be used to develop UP.
The UP man who is paying the tax, should be used in the
development of UP.
That's why, instead of giving half 600 rupees to Haryana,
the buyer state is given to the UP government.
Sir, why doesn't the seller directly give?
Earlier, he was giving 600 rupees to Modi ji, and half 600
rupees to Khattar ji.
So, this time, why doesn't the seller give half 600 rupees
to Modi ji, and half 600 rupees to Yogi ji?
Because the seller is in Haryana.
How will he pay to Yogi ji?
Why should a Haryana man take registration in UP?
Okay? Okay, sir.
Last time, Haryana was involved.
So, he can give to his government.
Okay.
We have this picture.
This is the scenario of GST depositing.
Now, what is the meaning of returns?
To explain this,
I have presented this picture to you.
What is the meaning of returns?
Sir,
all the transactions that I have explained to you, should
all this information reach the government?
Should the government know how much the person has sold?
Of course, sir.
How much tax has been collected?
Of course, sir.
Then, should the tax also reach the government?
Yes, sir.
All these things are done online.
The seller tells the government that I have sold this much.
I have collected this much GST from him.
You take half, you take half, whatever the case is.
All this work is done online on a website.
What is the name of the website?
gst.gov.in Very, very good.
What is the name of the website? gst.gov.in This website
should appear in your blood.
It is the same thing.
If a doctor takes a blood test, the name of the website
should appear.
gst.gov.in You go online on this website and fill some
forms to send this information to the government.
You send this information.
What do you fill?
You fill some forms.
You send this information to the government.
You give some to the government.
You tell them how much you have sold.
Our product has a certain rate.
I have collected it.
And then you make a payment and send it to the government.
Okay? You fill forms and the money you have to send to the
government is paid online.
And you send that money to the government.
You send that money to the government.
So, sir, sending this information to the government by
filling a form that how much we have sold, who has been
sold, how much gst has been collected.
And then, according to that, the government has to pay gst.
By creating an online auction.
This is what we call a return file.
What is this called?
GST returns.
Here, RETURN means not the English return, which means to
return.
Here, what does RETURN mean?
To give an account.
To send the information to the government.
Return means to file forms.
Is it done?
Here, I have explained to you the meaning of GST returns.
What is the meaning of GST returns?
Everyone, please note this down.
Make this photo.
Because now, we have to understand the practical aspect of
the government.
We have to understand the theory aspect of the government.
What did the government want?
How did the government draft the law for returns?
How did it apply?
What are the due dates?
And what are the things?
The government is still written in the act, but is not able
to follow.
You have to tell all those things.
Please note this photo quickly.
With the black pen, case number 1 is, when both are in
Haryana.
With the red pen, case number 2 is, when the seller is in
some other state, and the buyer is in some other state.
One.
Let's go.
What is written in green color, is the basic information.
Okay.
Please write.
Okay.
Good.
Okay.
You have noted it down.
This was the meaning of GST returns.
What is the meaning of the return word?
Please tell in one line.
Give information to the government.
Pay to the online tax government.
This is called GST returns.
Okay.
See you in the next clip.
Till then,
Thank you.
Bye-bye. Take care.
Cover this thing carefully.
Thank you everyone.
Bye-bye.
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