Know Everything about GST Return Filing

1. What is GST Return?

The term “return” means statement of information furnished by the taxpayer to tax authorities at regular intervals.

The information to be furnished in the GST Return comprises of:

  • Details of business operations
  • Sales/Turnover
  • Purchases
  • Determination and Discharge of tax liability.
  • Deductions and Exemptions
  • All the returns under GST law are to be filed electronically.

2. Frequency of filing GST Return?

In the GST regime, any regular business registered under GST has to file two monthly returns and one annual return. This will results to 26 returns in a fiscal year.

Every registered person has to file one monthly return GSTR 1 (depending upon the turnover) and monthly GSTR 3B for furnishing the summary of outward supplies and inward supplies along with the payment of any GST dues.

3. Furnishing Details of Outward Supplies

  • Every registered person shall be required to file a return containing the details of outward supplies
  • Return has to be submitted in Form GSTR-1
  • GSTR-1 has to be submitted upto 10th of the subsequent month.
  • The details filed under GSTR-1 shall reflect in recipient GSTR-2A (auto populated) to cross verify the ITC available to the recipient

4. Furnishing Details of Inward Supplies

Every registered person shall be required to submit a return containing the details of inward supplies.
Return has to be submitted

5. Types of Returns under GST and Due Dates of filing GST Returns

Return Form Particulars Frequency Due Date
Form GSTR-1 Furnish details of outward supplies of taxable goods and/or services affected Monthly 11th* of the succeeding month with effect from October 2018

*Previously, the due date was 10th
Form GSTR-2A This is auto-populated of inward supplies made available to the recipient on the basis of Form GSTR-1 furnished by the supplier Monthly 11th* of the succeeding month
Form GSTR-2
Suspended
Detail of inward supplies of taxable goods and/or services affected claiming the input tax credit or modification in GSTR-2A Monthly 15th of the succeeding month
GSTR-3
Suspended
Monthly return of details of outward supplies and inward supplies along with the payment of tax. Monthly 20th of the succeeding month
Monthly
GSTR-3B which is a monthly return filed It is a Simple Return in which summary of outward supplies along with Input Tax Credit (ITC) is declared and payment of tax is affected by taxpayer Monthly 20th of the succeeding month
GSTR-4 Furnish details of outward supply. This return is for a taxpayer registered under the composition scheme Monthly 18th of the month succeeding quarter
GSTR-5 Furnish details of imports, outward supplies, tax paid, input tax credit etc. This return is for a Non-Resident foreign taxable person Monthly 20th of the succeeding month
GSTR-6 Return for an Input Service Distributor furnishing details of input credit distributed. Monthly 13th of the succeeding month
GSTR-7 Return for authorities furnishing the details of TDS deducted Monthly 10th of the succeeding month
GSTR-8 Details of supplies through e-commerce operator and the amount of tax collected on the supplies Monthly 10th of the succeeding month
GSTR-9 Annual Return for a Normal Taxpayer furnishing details of ITC availed and GST paid Annually 31st December of succeeding fiscal year*
GSTR-9A Annual Return for a taxpayer registered under the composition levy anytime during the year Annually 31st December of succeeding fiscal year*
GSTR-10 Final Return- For taxpayers whose registration has been surrendered or cancelled Once, when GST Registration is cancelled or surrendered Within 3 months of the date of cancellation or date of cancellation order, whichever is later
GSTR-11 Furnish details of inward supplies by a person having UIN and claiming a refund Monthly 28th of the month succeeding month for which statement is filed

* Subject to changes by Notifications/ Orders

6. Late Fees for non-filing of return in time

Return filing is mandatory under GST. Even if there is no transaction, you must file a NIL return.

  • You cannot file a return if you do not file previous month/quarter’s return.
  • Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty of interest
  • The late filing fee of the GSTR-1 is populated in the liability ledger of GSTR-3B filed immediately after such delay.

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