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GST Return 2017-12-29T11:52:04+00:00

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What is GST Return?

Every person registered under the GST Act has to periodically furnish the details of sales and purchases along with tax collected and paid thereon, respectively, by filing online returns. Before filing the return, payment of tax due is compulsory otherwise such return will be invalid.

Steps for filing GST return:

GST return can be filed in different forms depending upon the nature of transaction and registration.Return Forms that are applicable for Normal Tax payers and their due dates are:

  • Monthly Details of outward supplies in FORM GSTR-1 by the 10th of next month.
  • Monthly Details of inward supplies in FORM GSTR-2 by the 15th of next month.
  • Monthly Filing of Return along with payment of tax due in FORM GSTR-3 by the 20th of next month.
  • Annual Filing of Return in FORM GSTR-9 by 31st December of next financial year.

Documents Required for Online GST Return

For GST return filing, there is no formal set of documents required. The GST returns shall be completely dependent upon the invoices created under GST. Hence, creation of invoices shall serve as base for filing the GST return in India.Further, to file the GST return, you must follow a standard guidelines:

  • Prepare each and every invoice as per the GST law.
  • Further, each product shall be categorized as per the HSN code.
  • Try to maintain invoices details in a format given in the GST software.
  • Once invoices are uploaded, you can easily file the monthly returns.

GST Registration Process

Types of returns under GST

There are multiple returns under the GST regime. The most common used return will be GSTR 1, 2, 3, 4 & 9. GSTR 1, GSTR 2 & GSTR 3 will be submitted by all businesses on a monthly basis along with GSTR 9 on an annual basis. GSTR 4 is submitted by composition taxpayers on a quarterly basis.

Return/Form Details Filer Frequency Due Date
GSTR – 1 Outward sales by Business Registered Normal Taxpayer Monthly 10th of next month
GSTR – 2 Purchases made by Business Registered Normal Taxpayer Monthly 15th of next month
GSTR – 3 GST Monthly return along with the payment of tax Registered Normal Taxpayer Monthly 20th of next month
GSTR – 4 GST Quarterly return for Composition Taxpayers Composition Taxpayer Quarterly 18th of month next quarter
GSTR – 5 Periodic GST return for Non-Resident Foreign Taxpayer Non-Resident Foreign Taxpayer Monthly 20th of next month
GSTR – 6 Return for Input Service Distributor (ISD) Input Service Distributor Monthly 13th of next month
GSTR – 7 GST Return for TDS Tax Deductor Monthly 10th of next month
GSTR – 8 GST Return for E-commerce Operator E-commerce Operator (Tax Collector) Monthly 10th of next month
GSTR – 9 GST Annual Return Registered Normal Taxpayer Annually 31st Dec of next financial year

Frequently Asked Questions

Every entity registered under GST will have to file a GST Return. A Nil return has to be filed even if no purchase-sales activities have been carried out during the return period.

Depending on the type of registration and transactions different periods have been specified. Monthly Return has to be filed by Regular taxpayers, Foreign Non-Residents, Input Service Distributor, Tax Deductors and E-commerce Operators whereas Composition taxpayers will have to file a quarterly return. There is also an additional Annual GST Return apart from this.

If the return is not filed within the due date then the taxpayer is penalized with a late fee of Rs. 100 per day up to a maximum of Rs. 5000/-.

No, the return forms are common for CGST, SGST, and IGST. A separate column is available for each of them in the same form and will be filled depending on Intra-state or Inter-state supply.

GSTR-1 return will include details of the outward supplies or sales of goods and/or services by the taxpayer. This return form would capture the following information:

  • Basic details like Business Name along with GSTIN, period for which the return is being filed etc.
  • Details of invoices issued in the previous month and the corresponding taxes to be paid.
  • Details of advances received against a supply which has to be made in future.
  • Details of revision in relation to outward sales invoices pertaining to previous tax periods.
GSTR-2 return will include details of the inward supplies or purchases of goods and/or services by the taxpayer. GSTR-2 is prefilled for a buyer based on the GSTR-1 filed by his supplier. You just have to validate this prefilled information and make modifications if required. For example, if you are buying goods from company B, then the company B would have filed its GSTR-1 and included your name as the buyer. Now the same information will be reflected in your GSTR-2 as purchases which you need to validate. GSTR-2 will thus include the details of auto-populated purchases.
One can say that GSTR 3 is a combined version of GSTR 1 and GSTR 2. As in the case of GSTR-2, GSTR-3 is also prefilled for a taxpayer based on the GSTR-1 and GSTR-2. You just have to validate this prefilled information and make modifications if required.
GSTR-3 return will include the following details:

  • Information about Input Tax Credit ledger, Cash ledger, and Liability ledger
  • Details of payment of tax under various tax heads of CGST, SGST, and IGST
  • Taxpayer will have the option of claiming a refund of excess payment or to carry forward the credit.
A small taxpayer with a turnover of up to Rs. 75 Lakhs has the option to opt for the composition scheme. In such a case he would be required to pay taxes at a fixed rate depending on the type of his business (2% for manufacturers, 5% for restaurant service sector and 1% for other suppliers). Although no input tax credit facility would be available. A taxpayer opting for the composition scheme would be required to file a simplified quarterly return that is GSTR-4. He is required to provide only the following details:

  • The total value of consolidated supply made during the period of return
  • Details of payment of tax in the return
  • Declare invoice-level purchase information.
All the normal taxpayers would be required to submit annual return under GST. This is intended to provide complete visibility about the activities of the taxpayer.

  • It will be a detailed return and will capture details of all the income and expenditure of the taxpayer and will regroup them in accordance with the monthly returns.
  • A major advantage of this return will be that it will provide the opportunity to correct any short reporting of activities undertaken.
  • The due date for the return is 31st December following the end of the financial year for which it is filed. And the same has to be filed along with the audited copies of the Annual Accounts.

No, taxes due have to be paid before filing the return for that period otherwise the return will be invalid.

No, the GST return cannot be revised. Any changes in details can however be made in the amendment section of the Return Form of next period.