FAQs on Form GST SRM-II!

Form GST SRM - II plays a crucial role for manufacturers of pan masala and tobacco products. This monthly statement reports on the inputs used, outputs procured, and other critical details involved in the production process. As with any tax filing process, there are a number of common questions and uncertainties that businesses may encounter when preparing and submitting this form. 

Let’s understand the common facts about the form!

‍

FAQs > Form GST SRM - II

1. What is Form GST SRM-II? Who is required to file Form GST SRM-II?

Form SRM-II is a monthly statement of input used and output procured and consumed by the manufacturer of pan masala and tobacco. All manufacturers of pan masala and tobacco mentioned in the notification issued by the Government are required to file Form GST SRM-II.

2. Where can I file Form SRM-II?

Form SRM-II can be filed from the returns section of the GST Portal. You can access it by navigating to Services > Returns > SRM Forms (Pan Masala/Tobacco). Select the Financial Year & Period and click on the Search button, SRM-II tile will be displayed click on the SRM-II tile to proceed.

3. Is Form SRM-II filing mandatory?

Form SRM-II needs to be filed even if there is no business activity (Nil Return) in the tax period.

4. What details have to be furnished in Form SRM-II?

Form SRM-II needs to be filed even if there is no business activity (Nil Return) in the tax period.

The following details of SRM-II need to be furnished:

i.   Details of inputs

ii.  Details of production

iii. Power Consumption

iv.  Details of grid-integrated solar power.

5. When do I need to file Form SRM-II for a given tax period? OR What is the due date for filing Form SRM-II?

The due date to file Form SRM-II is the 10th day of the succeeding month for which the return pertains. For example, Form SRM-II for the calendar month of April 2024 needs to be filed by the 10th of May 2024.

6. What are the prerequisites for filing form SRM-II?

Pre-requisites for filing Form GSTR-1 are:

a. The taxpayer should be a registered as manufacturer of pan masala and tobacco and should have an active GSTIN during the tax period for which Form SRM-II has to be furnished.

b. The taxpayer should have valid login credentials (i.e., User ID and password) to log into GST Portal. c. The taxpayer should have an active and non-expired/ revoked digital signature (DSC), in case the digital signature is mandatory. d. In case taxpayer wants to use EVC, they must have access to the registered mobile number of the Primary Authorized Signatory.

7. How can I download system system-generated Summary of SRM-II?

After the filing of SRM-II, you can download system system-generated summary of SRM-II in PDF format by clicking of the Download Summary (PDF) button. Or you can navigate to Services > Returns > View Filed Returns to view and download the SRM-II (PDF) summary.

8. What is communication received after the successful filing of Form SRM-II?

a. Application Reference Number (ARN) gets generated on successful filing of Form SRM-II.

b. An SMS and email are also sent to the taxpayer on the Mobile Number and E-mail ID of his primary authorized signatory.

9. How can I file Nil Form SRM-II?

You can file nil Form GSTR-1 by first Generating the Summary and then submitting the return without entering any data and signing with the applicable signature.

Conclusion

In conclusion, filing Form GST SRM - II is an essential requirement for manufacturers of pan masala and tobacco products to ensure compliance with GST regulations. By understanding the key details, prerequisites, and processes involved, businesses can avoid common pitfalls and fill the form accurately and on time. Whether you're submitting a return with data or filing a Nil Return, adhering to the due date and following the outlined steps will help maintain smooth operations. If you face any challenges or require further clarification, consulting a GST expert can help ensure that all requirements are met and deadlines are followed without issue. Stay informed and stay compliant to make your GST filing process as seamless as possible.

‍