GST RETURN

Who should file GST Returns?

The Business nature always determines which GST Return is to be submitted.

 

Any regular business in the GST regime must file two monthly GST returns and an annual GST return. Therefore, there are 26 GST returns in one year.

The number of GST Return filings changes for quarterly GSTR-1 filers. The number of online GST Return filings for them is 17 per annum.

Exceptional cases such as composition dealers whose number of GST Return filings is 5 per annum and need separate returns.

GST Returns are of various types, and the late filing of GST Return would result in a fine of Rs.100 per day until the day the GST Returns are filed. Any tax liability must be paid promptly to the government once the filing is completed.

Different Types of GST Returns

Return

Description

Frequency

Due Date

GSTR-1

a. The GSTR-1 is a monthly return form that companies file to report details of all services and goods’ outward supplies. 

 

b.Each GST-registered entity will file GSTR-1 except the distributor of the Input service and the taxpayer of Composition.

 

c.Even if there is no business activity, it must be submitted.

 

d. The GSTR 1 serves as the basis for all other form submissions for the month.

Monthly

11th of the next month

Quarterly

( Can be filed only by small taxpayers with turnover up to Rs.1.5 crore in the previous financial year)

End of the month succeeding the quarter.

GSTR-2

 

(Suspended filing by Govt.)

a. Details of inward supplies of goods or services, i.e., purchases made by the registered suppliers.

 

Monthly

15th of the next month.

GSTR-2A

 

a.  An auto-drafted tax return for sales and inward deliveries made by a taxpayer that is automatically collected by the GSTN based on the information provided by its suppliers under the GSTR-1.

Monthly

15th of the next month.

GSTR-3

 

(Suspended filing by Govt.)

a. Consolidated monthly tax return (includes necessary taxpayer information ( name, GSTIN, etc.), a period of return, turnover details, final aggregate inward and outward supply details, tax liability under CGST, SGST, IGST, and additional tax (+1% tax), details of your ITC, cash, and liability, details of other charges, such as interest, fines, and fees, etc.

Monthly

20th of the next month.

GSTR-3B

a.  Monthly summary of all the purchases and sales made during a month. This return also reflects taxpayer’s GST liabilities for the month in question

b. If no sale or purchase transactions occur in a month, a taxpayer will be required to file NIL return for that month

 

 

c. Remember that GSTR-3B cannot be revised

Monthly

(for taxpayers with an aggregate turnover in the previous financial year more than Rs 5 crore.)

 

20th of the next month.

 

 

 

 

Monthly

(for taxpayers with an aggregate turnover in the previous financial year below or equal to Rs 5 crore for the taxpayer in following states & UT’s:

Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Pondicherry, Andaman and Nicobar Islands and Lakshadweep.

 

22nd of the next month.

 

Monthly

(for taxpayers with an aggregate turnover in the previous financial year below or equal to Rs 5 crore for the taxpayer in following states & UT’s:

 Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union Territories of Jammu and Kashmir, Ladakh, Chandigarh, and New Delhi.

24th of the next month.

GSTR -4

a.    This GST return is for those taxpayers who have opted for the Composition scheme.

 

b. Via this type, small taxpayers with turnover up to some 1.50 Cr file returns quarterly.

 

c. To reduce the cost of tax and regulation on these small taxpayers, pay tax at a fixed rate, and file quarterly returns.

Annually

30th of the month, succeeding in a financial year.

GSTR-5

a.    This GST Return Form is for the non – resident taxable person.

·         b. The return includes inward and outward supplies, tax paid or payable, interest or fee paid, and any other amount paid as per the GST Act.

·          

·         c. A non-resident taxpayer is a person who supplies goods or services occasionally. These persons do not usually have a fixed place of business or residence in India. They can also supply goods and services in any capacity.

 

Monthly

20th of the next month.

GSTR -6

a. An Input service distributor files GSTR 6.

b. This GST return includes descriptions of the invoices provided by the ISD, and it has received the credit. It describes the overall input tax credit available for delivery, made possible in Part B of GSTR-2A to each recipient.

 

Monthly

13th of the next month

GSTR -7

a. GSTR 7 is to be filed by those taxpayers who are supposed to deduct TDS as per GST law.

b. It contains information like TDS liability, tax deducted at Source, interest, and fee paid or payable, and TDS refund.

 

Monthly

10th of the next month

GSTR -8

a. This GST return is to be filled in by those e-commerce platforms that are allowed to deduct tax collected at Source according to GST legislation.

 

b. The Form provides information on the goods and services offered by e-commerce sites and the amount of tax collected from suppliers.

 

c. Through this type, operators may also make adjustments to the details filled through previous statements about the supplies

 

Monthly

10th of the next month

GSTR-9

a. According to section 44(1), each taxpayer registered to file an annual return for each financial year.

 

b.It includes the input tax credit information, casual taxable person, person who is expected to pay tax under section 51 or 52, and the non-resident taxable person information.

 

c. A NIL Annual Return will be filled in if the registered individual has zero tax liability.

Annually

31st December after the end of the concerned financial year.

GSTR-9A

a. This GST return is the annual return for persons who are enrolled under the composition scheme.

b.The form details include taxes paid, tax refunds, in- and outward supplies, late fees, and input tax credits used or reversed.

Annually

31st December succeeding at the end of each financial year.

GSTR-9B

a. It is the annual return for e-commerce portals required to collect tax at Source as per section 52

Annually

31st December succeeding at the end of each financial year.

GSTR-9C

a. Each registered person with an annual turnover of Rs. 2 Cr and more requires a CA or cost accountant to audit their accounts. Besides, the customer must also apply the audited copy reports, annual return, and notice of reconciliation.

 

b. The declaration of reconciliation is provided in Form GSTR-9C.

Annually

31st December succeeding at the end of each financial year.

GSTR – 10

a. This GST Return is the final return that the taxpayer whose registration for GST has been canceled must submit.

 

b. Nevertheless, such a person does not include; a person who pays tax under a composition scheme; a person who collects TDS or TCS; an input service distributor; and a taxable non-resident.

 

c. This return’s primary intent is to ensure that the taxpayer has paid out all outstanding tax liability.

Once, when the GST registration is canceled or surrendered

·         The due date of filing GSTR-10 is later of:

a) 3 months from the date of registration getting canceled, or

b) date of order of cancellation.

 

GSTR -11

a. This return is for users to issue a UIN (Unique Identification Number).

 

b. The UIN is allocated to the registered person for claiming a tax refund of GST  paid on the purchase of goods and services.

Monthly

28th of the next month in which  inward supplies received by UIN holders

GST Return Filing

Every year, all taxpayers who may vary from manufacturers & suppliers to retailers & customers will file GST returns. The government is also driving pedals towards innovation & automation in the digital era. It has introduced facilities for e-filing or online filing of GST returns on specific GST portal.

 

The returns can be filed electronically through Goods and Service Tax Network (GSTN) applications & software. These revolutionary government facilities automate the fling process and auto-populate the data into GSTR forms.

Steps for Online Filing of GST Return

Step 1: Go to the GST portal https://www.gst.gov.in/.

Step 2: Sign in to your account using your username, password, and the displayed captcha.

Step 3: Tap on ‘Return Dashboard’ after signing in to your account.

Step4: You will see all the forms you need to file according to your registration and type of company on the next screen.

Step 5: Click the Form you want to file the return for.

Step 6: You can insert all related invoices into the next tab.

Step 7: You will be required to enter debit and credit notes details in the next stage, as per the Form you fill in.

Step 8:  After entering all the necessary information, click on ‘Submit’ to file your return.

Benefits of GST Return Filing

Penalty for Late Filing of GST Return

GST return filing is compulsory for all registered taxpayers, whether they are regularly registered taxpayers under composition scheme. Failure to file the return on time would incur penalties in compliance with GST legislation. For each Central Goods and Services Tax and State Goods and Services Tax, a penalty of around 100 per day is levied. The valid late fee, therefore, is approximately 200 per day. The maximum late fee, however, is limited to around 5,000. There is no late charge, in the case of IGST.

 

Besides, late fee interest at the rate of 18 percent per annum is also payable on the amount of tax for that time. The time for interest calculation will start on the next day of the due date.

 

Frequently Asked Questions(FAQ's)

1

GSTR – 1: Return for Outward Supplies

2

GSTR – 2: Return for Inward Supplies

3

GSTR – 2A: Read the Only Document

4

GSTR – 3B: Summary of Inward and Outward Supplies

5

GSTR – 4: Return For Composition Dealers

6

GSTR – 5: Return For Non-Resident Taxable Persons

7

GSTR – 6: Return For Input Service Distributors

8

GSTR – 7: Return For Taxpayers Deducting TDS

9

GSTR – 8: Return For E-Commerce Operators Collecting TCS

10

GSTR – 9: Annual Return For Normal Registered Taxpayer Under GST

11

GSTR – 9A: Annual Return For Composition Dealers

12

GSTR – 9B: Annual Return For E-Commerce Operators Collecting TCS

13

GSTR – 9C: Return For Registered Persons Getting Accounts Audited From CA

14

GSTR – 10: Return For Registered Person Whose GST Registration Gets Cancelled

15

GSTR – 11: Return For UIN (Unique Identification Number) Holders