GST Registration GST Return
Returns under Goods and Services Tax (GST) can be defined as a document or form in which the details related to income and its sources are reported. GST Returns are required by the tax authorities for the calculation of tax liability pertaining to a business. This guide explores the different types of GST returns, due dates, and penalties applicable.
A GST return is a document that outlines the income, sales, expenses, and purchases of a GST-registered taxpayer (each GSTIN). This document must be submitted to tax authorities, who use it to determine the taxpayer's net tax liability.
Under GST, a registered dealer must file returns that typically include:
The filing of GST Returns has manifold importance,such as
For Return Filer
For Government
The GST Act has divided taxpayers into different categories based on their turnover. Given below are the GSTR filing requirements for the following businesses -
GSTR-1 is the return used to report details of all outward supplies of goods and services. It includes invoices and debit/credit notes related to sales transactions for a given tax period. All normal taxpayers registered under GST, including casual taxable persons, are required to file GSTR-1.
| Turnover Limit (in a FY) | GSTR 1 Periodicity |
|---|---|
| Up to Rs. 5 crores and has opted for the QRMP scheme | Quarterly (by 13th of every month) |
| Exceeding Rs 5 crores | Monthly (by 11th of every month) |
GSTR-2 is a suspended GST return that was used by registered buyers to report inward supplies of goods and services, i.e., their purchases during a tax period. The details in GSTR-2 were auto-populated from GSTR-2A, but GSTR-2 could be edited, unlike GSTR-2A. This return was required to be filed by all normal taxpayers registered under GST. However, the filing of GSTR-2 has been suspended since September 2017.
It is a read-only auto-generated statement of inward supplies formed using the details of GSTR-1/5, Form GSTR-6 (ISD), Form GSTR-7 (TDS), Form GSTR-8 (TCS).
GSTR 2A is an auto-populated return, and no filing is required.
GSTR-2B is a view-only, static GST return that is important for recipients or buyers of goods and services. Available monthly starting from August 2020, it provides consistent ITC data for any given period.
The ITC details cover the period from the filing of GSTR-1 for the previous month (M-1) to the filing of GSTR-1 for the current month (M). The return is made available on the 12th of each month, providing enough time before filing GSTR-3B, where the ITC is declared.
GSTR-2B specifies the actions to be taken for each reported invoice, such as whether it should be reversed, is ineligible, subject to reverse charge, or linked to specific table numbers in GSTR-3B.
GSTR-3 is a suspended GST return that was intended to provide a monthly summary of all outward supplies made, inward supplies received, and input tax credit claimed, along with details of tax liability and taxes paid.
This return would have been auto-generated based on the GSTR-1 and GSTR-2 returns filed. GSTR-3 was to be filed by all normal taxpayers registered under GST, but its filing has been suspended since September 2017.
Form GSTR-3B is a monthly summary return to declare the GST liability for the tax period and to pay off such liability. Regular taxpayers need to file these return for every tax period.
GSTR 3B contains the details relating to
The due Date of filing Form GSTR-3B is the 20th of the following month for which the return is to be submitted.
It can be filed as a nil return even when there are no transactions and tax liability for that particular tax period. GSTR-3B is to be filed electronically using the GST portal.
This return is for those taxpayers who opted for paying tax under the composition scheme.
This form consists of a summary of
Taxable persons who have opted for the composition scheme under GST and are liable to pay taxes are required to furnish GSTR 4 annually.
GSTR-4 is required to be filled every quarter, and the due date for this is the 18th of the month succeeding the tax period. This return is to be filed electronically and cannot be revised just like any other return but can be adjusted in the return of the following tax period.
From the year 2019-20, this return will be filed annually, and there is a statement named CMP 08, filed quarterly, in which all the details for the composition dealer will be filled
Yes, it is possible to file a valid NIL GSTR 4 return.
A registered NRTP is not required to file separately the statement of the outward supplies, statement of inward supplies, and return like a normal taxpayer. In place of the same, a simplified monthly tax return GSTR 5 has been prescribed. GSTR 5 is required to be furnished by every registered non-resident taxable person.
The details required to be furnished in GSTR 5 include
The due date to file GSTR-5 for NR for the period for which they get registration is within 7 days of the expiry of such period. If the period of registration is more than one month, the monthly return will be filed by the 20th of the following month of the tax period.
In simple words, it should be furnished within 20 days after the end of the calendar month or within 7 days after the last day of the validity period of the registration, whichever is earlier.
Yes, filing a NIL GSTR 5 is possible.
It is a return required to be furnished by an Online Information and Database Access or Retrieval (OIDAR) services provider for the services provided from a place outside India to unregistered persons in India.
The information like details of taxable outward supplies or sales is made to non-taxable persons or consumers in India, changes in the details furnished in the preceding tax period and provide the details of any other amount to be paid by them, or interest to offset the liabilities, etc. is to be considered as part of taxpayers GSTR-5A.
The non-resident service provider of OIDAR needs to file the return.
A monthly return is to be filed by the 20th of the following month.
NIL GSTR 5A is required to be furnished in case there are no pertaining transactions.
GSTR 6 form is required to be filed by Input Service Distributors (ISD) for claiming the ITC.
The essentials for the filing of Form GSTR-6 are:
It is a mandatory monthly return that is required to be filed even when there is no transaction.
This return is to be submitted by the Input Service Distributor (ISD) for distribution of its credit among the different units.
The due date to file GSTR-6 is the 13th of the following month of the tax period.
Yes, In case there are no transactions, a NIL GSTR 6 needs to be filed by the ISD (Input Service Distributor)
It is a monthly return required to be filed by the person who deducts tax at the time of making payment to suppliers (TDS) under GST.
Tax deductors are required to:
Yes, GSTR 7 is required to be filed by TDS Deductors as specified under section 51 of the CGST Act.
The person deducting TDS under GST is required to furnish the return in form GSTR 7. Following are the deductors liable to deduct TDS as per section 51 of the CGST Act
The due date to file this return is the 10th of the next month. And no need to file a return for a period in which no TDS is deducted.
GSTR-7 is a monthly return that must be filed by individuals or entities required to deduct TDS (Tax Deducted at Source) under GST. This return includes details of TDS deducted, the TDS liability payable and paid, and any TDS refund claimed.
The due date for filing GSTR-7 is the 10th of every month.
It is a statement of Tax Collected at Source (TCS) by E-Commerce Operators. It contains the details of taxable supplies, the amount collected by the operator related to the supplies, and the amount of TCS collected on such supplies.
Below are some of the following details required to be furnished while filing GSTR 8
The due date for filing Form GSTR-8 is the 10th of the month following the tax period. Currently, there is no late fee for filing a return with the delay, but interest is levied on delay in discharging the liability of TCS.
GSTR-9 is the annual return which is required to be filed once in a financial year by regular taxpayers.
GSTR 9 contains information such as purchases, sales, input tax credit or refund claimed, etc. Details required to be disclosed under the Form GSTR-9 for respective serial numbers are -
This return is to be filed by a person who is registered as a regular taxpayer and a taxpayer who has withdrawn from the composition scheme to a regular taxpayers. For the assessee having turnover of more than Rs. 2 crores during the financial year, they are required to get their accounts audited by CA and CWA. And file a return in the form GSTR-9C.
The due date for filing this return is 31st December of the subsequent financial year.
Assessee can file a Nil Return only if the following conditions are satisfied:
It is also an annual return form available to the taxpayer who opted for the composition scheme.
In this form, the assessee is required to file the information related to
GSTR 9A is required to be filed by all taxpayers who opted for a composition scheme, for any period during the financial year, and includes:
Form GSTR-9A is to be filed within the due date as specified as 31st December of the next financial year.
Assessees can file a nil return under GSTR-9A if they do not have any business transactions in the previous year.
The taxpayer whose registration got canceled or surrendered has to file a return using GSTR-10. It is also called as a final return.
Form GSTR-10 is to be filed by every taxpayer, excluding the following:
The time limit for filing this return is:
GSTR-11 is a return to be filed by individuals or entities with a Unique Identity Number (UIN) to claim a refund under GST for goods and services purchased in India. The UIN is issued to foreign diplomatic missions and embassies that are not liable to pay tax in India, allowing them to claim a tax refund.
GSTR-11 includes details of inward supplies received, and the refund claimed.
Filing returns under GST is mandatory, even if there are no transactions. In such cases, you must file a Nil return.
Key points to note:
Understanding the various aspects and provisions of GST law can be complex, especially for non-experts. It’s advisable to consult a tax expert to address all your GST-related queries and assist you with filing your returns. Need help filing your GST return? Book a tax expert today!
Monthly GST filing involves submitting returns like GSTR-1 and GSTR-3B every month.
The type of GST return to file depends on factors like your business turnover, the nature of your transactions, and the specific requirements of tax authorities.
The due dates for filing GST returns, such as GSTR-1, depend on the business's turnover.
Yes, apart from common returns like GSTR-1 and GSTR-3B, there are specialized returns such as IFF and PMT-06, which can be filed quarterly.
No, composition dealers have a simplified GST return filing process compared to regular taxpayers.
GST is calculated by applying the GST rate to the taxable value of the goods or services sold.
Small taxpayers with an aggregate turnover of up to ₹5 crore can choose between monthly or quarterly filing of GSTR-1.
GSTR-3B is a summary return that details tax obligations and payments, while GSTR-1 is a detailed return that summarizes the sales made during the period.
People with a UIN file GSTR-11 to report supplies received from their suppliers in the tax period and claim a refund for the GST paid.
Non-compliance with GST return filing can result in penalties, late fees, and impact your business's competitiveness and operational efficiency. It is important to ensure accurate and timely filing to avoid these consequences.
