GST RETURN

GST RETURN FORM

What is GST Return?

Each person registered under the GST Act is required to file online returns and furnish details of sales and purchases with tax paid thereon. Before filing the return, payment of tax payable is mandatory otherwise such returns 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.

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. Even if no purchase-sales activity has been done during the return period, zero return will have to be filed.

A different period is specified depending on the type of registration and transaction. The monthly returns are to be filed by regular taxpayers, foreign non-residents, input service distributors, tax deductors and e-commerce operators, while composition taxpayers will have to file quarterly returns. Also there is an additional annual GST return.

If the return is not filed within the due date, the taxpayer shall be given a maximum of 5000/ * Is punished with a lay fee of Rs. 100/-per day up to Rs.

No, the return forms are common to cgst, Sgst and Igst. Each of them is available as a separate column in the same form and will be filled on the basis of inter state or interstate 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.
  • Basic details like Business Name along with GSTIN, period for which the return is being filed etc.
  • 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.