Overview of GST Return Filing

GST refers to Goods and Services Tax which came into force on 1st July 2017. It is an indirect tax imposed on the exchange of goods and services between organisations. GST should be paid at each step of the production process. The main motto of GST is One Nation One Tax.

GST Return is a Document that has all the details regarding the sales purchases output tax, i.e. the tax collected on sales, and input tax i.e. the tax paid on purchases. The businesses must file the GST Return to pay the tax liability.

All the businesses registered under GST have to do GST Return Filing either quarterly, monthly or annually based on the type of business. The GST Return Filing helps businesses to generate GST compliant Invoices.

Types of GSTR

The different types of GSTR are enlisted below:

GSTR-1 – Description of Outward Supplies

GSTR-1 is a return filed monthly by the businesses which provides the details of the outward supplies of all services and goods. Every individual /entity registered under GST should file GSTR-1 except Input service distributor and Composition taxpayer. The return shall be filed even if there is no business activity.

Due Date: The due date for filing GSTR-1 is the 11th of the next month if the annual turnover is more than 5 Cr. Or if the business has not opted for the QRMP scheme. However, if the business has opted for the QRMP scheme, then the GSTR needs to be filed. This is to be paid every quarter and due date shall be the 13th on every month by the end of each quarter

Note- GSTR 2 and GSTR 3 are Currently Suspended

GSTR-2A: GSTR-2A this form is about all GST return filing related to all the inward supplies of goods/services, that is, purchases made by registered suppliers. This return is auto-filled, where the data will be fetched from the GSTR-1 filed by the supplier.

Note: So There is No Particular Due Date for This Form

GSTR-3B: GSTR-3B is a monthly self-declaration form that helps in providing systemize details of all outward stocks made, input tax credit claimed, tax account defined, and taxes paid. The form is registered by all normal taxpayers enrolled under GST.

Due Date– Every 20th of next month for taxpayers with an aggregate turnover in the previous financial year of more than Rs 5 crores. (From January 20201 onwards). However, the taxpayers having aggregate turnover equal to or below Rs 5 crores shall file by 22nd of next month for taxpayers in category X states/Union Territories and 24th of next month for taxpayers in category Y states/Union Territories.

GSTR-4

GSTR-4 is the return filed by the taxpayer who opts for the ‘Composition Scheme’ under GST. This form replaced GSTR 9A.

Due Date– 18th of the month succeeding the quarter

GSTR-5

GSTR-5 return is to be filed by Non-resident foreign taxpayers carrying business transactions in India. It acquires all outward supplies made; inward stocks received, credit/debit notes, tax liability, and taxes paid.

Due Date: Monthly (20th of each month)

GSTR-6

GSTR-6 is a monthly return filed by an ‘Input Service Distributor’. It contains the details of the input tax credit received and distributed by the ISD.

Due Date: Monthly (13th of the every month)

GSTR-7

GSTR-7 is a Return for government authorities deducting tax at source (TDS). The return contains the particulars of TDS deducted, the TDS liability payable and paid, and the TDS refund claimed if any.

Due Date: 10th day of each month.

GSTR-8

GSTR-8 is a monthly return that has to be filed by E-commerce operators registered under the GST (Tax Collected at Source). It will contain particulars of all supplies made through the E-commerce platform, and the TCS received on the same.

Due Date: 10th day of each month

GSTR-9

It is the annual return filed by a normal taxpayer under GST.

Due Date: Annually (31^stDecember of the next Financial Year).

This form contains the details of all inward supplies received during the financial year under different tax heads, outward supplies made and a summary value of supplies reported under every HSN code, along with details of taxes payable and paid. It is a compilation of all the monthly or quarterly returns (GSTR-1, GSTR-2A, and GSTR-3B) filed during that financial year.

However, There are Few Exceptions, Such As:

• Taxpayers opted for the composition scheme
• Input service distributors
• Casual taxable persons
• NRI
• Whosoever paying TDS under section 51 of the CGST Act

GSTR-9A

Suspended.

GSTR-9C

GSTR-9C is the reconciliation statement to be filed by all taxpayers whose turnover is more than two cr. In the financial year.

Due Date: Annually (31ST December of the following Financial Year).

GSTR-10

GSTR-10 is to be filed by taxpayers whose GST registration has been cancelled or surrendered.

Due Date: Within 3 months from the date of cancellation or date of cancellation of the order, whichever is earlier.

GSTR-11

GSTR-11 is the return filed by taxpayers who have been allotted a Unique Identity Number (UIN) to claim a refund under GST.

Due Date: 28th of the month following the month for which the statement is filed.