All about GST Return Filing

Brief Background

Every person once registered is mandatorily required to file the return within the due date as prescribed under the Act whether on the monthly or quarterly basis. It is a document filed by the registered mentioning the details of purchase as well as sell for a specific period of time, to be more precise he shall fill all the details regarding sale, purchase and details of input. The return is required to be filed online. In case the return(s) is not filed within the specified due time lines otherwise it shall attract provisions with regard to late fees alongwith interest in subsequent month.

Filing of GST return

Regular registered dealer shall file prescribed returns within the due date as provided under the Act, GSTR 3B is a summary return in which details with regard to, sales, purchase and input tax as well as output tax can be shown. It is also mandatory to file GSTR 1 return before 11^th of the subsequent month however for eligible person the same can be filed quarterly (if opted).

It is to be noted that if the return as required under the Act is not filed within the due date then late fees shall be filed with is 25 rupees per day each of state as well as centre, the same is required to be paid with cash only and the any input as available in books cannot be utilised toward payment of late fees.

Here are the types of return as provided under the Act

1. GSTR-1 Return

Information with regard to outward supplies of goods and services shall be required to be reported under the aforesaid return, in simple words once can say that all sales transaction during the period whether monthly or quarterly is to be reported. Apart from this all credit as well as debit notes are also required to be reported under this return. GSTR-1 return is required to be filed by normal taxpayers monthly. However, normal taxpayers having turnover up to Rs.1.5 crores in the previous financial year, can file it on a quarterly basis.

2. GSTR-2A Return

GSTR-2A return is a auto-populated return which contains details of all inward supplies of goods and services (Purchases made from registered suppliers during a tax period). All data which is filled in GSTR 1 return will be automatically be arise in GSTR-2A return here you can tally the details to get the inputs for that specified period

3. GSTR-2 Return

GSTR-2 return is a return where we filed details with regard to inward supplies of goods and services i.e. the purchases made during a tax period. However, it is being blocked by the government as of now.

4. GSTR-3 Return

GSTR-3 return is also a monthly return for furnishing details of outward supplies. This return is also suspended by the government. Here the registered taxpayer shall fill all the net details and shall pay tax accordingly. The same shall be filed within due date and if not filled then taxpayer is required to pay late fees.

5. GSTR-3B Return

In order to remove the hardship to all the taxpayer, GSTR -3B Return was introduced here a summary return is required to be filed by the registered taxpayer where information with regard to inward, outward supplies, input and tax liabilities. As of now the return shall be filed within due date and if not filled then taxpayer is required to pay late fees.

6. GSTR-4/CMP-08 return

GSTR-4 return is a return which is filed by registered taxpayers who have opted for the Composition Scheme as provided under GST Act. CMP-08 return has replaced the GSTR-4 return few months back. It shall be filed by the taxpayer who has opted for composition scheme. The return shall be filed quarterly. The form is very simple.

7. GSTR-5 return

GSTR-5 return is a return which shall be filed by the non-resident foreign taxpayers (NRF taxpayer), who are registered under GST Act and do business in India. The return shall be filed monthly where information with regard to outward supplies made, inward supplies received, credit/debit notes, tax liability and taxes paid shall be filed.

8. GSTR-6 return

GSTR-6 return is a monthly return which shall be filed by an Input Service Distributor (ISD). ISD shall fill details with regard to the input tax credit which is being received and distributed by them.

9. GSTR-7 return

GSTR-7 return is also a monthly return which shall be filed by TDS (Tax deducted at source) deductor under GST Act. Information with regard to TDS deducted, TDS liability payable and refund are require to be shown in this return.

10. GSTR-8 return

GSTR-8 return is a monthly return which shall be filed by E-Commerce Operators registered under the GST Act, they collect Tax at source (TCS). The return contains details with regard supplies made through the platform of E-commerce operator, and the TCS collected on the same. The GSTR-8 return is to be filed on a monthly basis.

11. GSTR-9 return

GSTR-9 return is an annual return which shall be filed by all taxpayers registered under GST. The information with regard to all outward supplies made, inward supplies pertaining to previous year is required to be filed. It can be said that the return is a consolidated return of all monthly or quarterly returns. It is to be filed by all the registered taxpayer except the taxpayer as provided under the Act.

12. GSTR-9A return

GSTR-9A return is an annual return for the taxpayer who opted for Composition Scheme under the GST Act in any financial year. It can be said that it is a consolidated return for all the monthly/quarterly returns filed during that financial year.

13. GSTR-9C return

GSTR-9C return is a reconciliation statement which is filed by the taxpayers registered under GST Act whose turnover exceeds the limited as provided under the Act in any financial year. It is mandatory to get the accounts audited through a Chartered/Cost Accountant.

14. GSTR-10 return

GSTR-10 return is a return which is filed by a taxable person whose registration has been cancelled or if he has surrendered it. It is also known as final return and the same has to be filed within a period of 3 month.

15. GSTR-11 return

GSTR-11 return is a return which is to be filed by a registered person to whom a Unique Identity Number (UIN) has been issued, this is in order to get a refund under GST Act for the goods and services purchased by them in India.

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About Author:  Praveen Singh is a Founder and Managing Partner of TRIJURIS (Legal & Taxation Service Provider in Delhi). The head office of the firm is based in Delhi. The firm inter-alia engaged in providing services related to Corporate and Commercial laws advisory, Indirect taxation, Setting up industries in India as well as outside India, Legal recovery services and other regulatory matters. The firm has actively participated in assisting MSMEs in India and small businesses to scale there business and closing working with them in respect of recovery of their legitimate dues.