GST Return Filing

 

The businesses registered under GST have to file returns monthly, quarterly and annualy based on the category of business through the Government of India's GST portal. They have to provide the details of the sales and purchases of goods and services along with the tax collected and paid.

Implementation of a comprehensive Income Tax system like GST in India will ensure that taxpayer services such as registration, returns, and compliance are transparent and straightforward. Individual taxpayers will be using 4 forms for filing their GST returns such as the return for supplies, return for purchases, monthly returns, and annual return. Small taxpayers who have opted for a composition scheme will have to file quarterly returns. All filing of returns will be done online.

What is GST Return?

GST return is an official document that furnishes all the purchases, sales, tax paid on purchases, and tax collected on sales-related details. The GST returns is required to be filed, following which the taxpayer has to pay off the tax liability.

Who should file GST Returns?

GST returns has to be filed by all the business entities who are registered under the GST system. The filing process has to be identified on the basis of the nature of the business.

The registered dealer who part of the following activities needs to file a GST return:

  1. Sales
  2. Purchase
  3. Output Goods and services tax (on Sales)
  4. Input Tax Credit with GST paid on the purchase

Types of GST Returns under New GST Law

The list of all types of GST returns in India along with frequency and the due date for filing returns.

Return form Who should file the return and what should be filed? Frequency Due date for filing
GSTR-1 Registered taxable supplier should file details of outward supplies of taxable goods and services as effected. Monthly 11th of the subsequent month.
GSTR-2 Registered taxable recipient should file details of inward supplies of taxable goods and services claiming input tax credit. Monthly 15th of the subsequent month.
GSTR-3 Registered taxable person should file monthly return on the basis of finalization of details of outward supplies and inward supplies plus the payment of amount of tax. Monthly 20th of the subsequent month.
GSTR-4 Composition supplier should file quarterly return. Quarterly 18th of the month succeeding quarter.
GSTR-5 Return for non-resident taxable person. Monthly 20th of the subsequent month.
GSTR-6 Return for input service distributor. Monthly 13th of the subsequent month.
GSTR-7 Return for authorities carrying out tax deduction at source. Monthly 10th of the subsequent month.
GSTR-8 E-commerce operator or tax collector should file details of supplies effected and the amount of tax collected. Monthly 10th of the subsequent month.
GSTR-9 Registered taxable person should file annual return. Annual 31 December of the next fiscal year.
GSTR-10 Taxable person whose registration has been cancelled or surrendered should file final return. Once, after the registration of GST is cancelled Within 3 months of date of cancellation or date of cancellation order, whichever is later.
GSTR-11 Person having UIN claiming refund should file details of inward supplies. Monthly 28th of the month, following the month for which the statement was filed.

 

 

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