On 1st July, 2017 India had seen biggest tax reform in the form of Goods and Service Tax (GST). Introduction of Goods and Service Tax has subsumed various taxes, resulting into simplification of the taxation process in India. Current article provides a synopsis of various returns to be filed by different categories of the taxable person under GST, along with due dates and details to be furnished in such returns, NIL return under GST, late fee for non-filing / late filing of GST return, proposed Sahaj and Sugam return.

Category-Wise Returns To Be Filed By Different Taxable Person Under GST Alongwith Due Dates And Required Details To Be Furnished

Normal Registered Taxable Person –

GSTR– 1 – Monthly Return Detailing Outward Supplies

The registered taxable person who has the aggregate turnover exceeding INR 1.50 Crore is required to file GSTR – 1 within a period of 10 days from the end of the month.

Details like taxable outward supplies to the unregistered and registered person in the given period, taxable inter-state supplies to unregistered person for invoice value exceeding INR 2.5 Lakhs, Inter-state and intra-state supplies needs to be provided.

GSTR – 1 – Quarterly Return Detailing Outward Supplies

The registered taxable person who has the aggregate turnover less than INR 1.50 Crore has the facility to file GSTR – 1 return on the quarterly basis within last day of succeeding month from the end of respective quarter and details as mentioned above in GSTR – 1 monthly return is same to be provided in GSTR – 1 quarterly return.

GSTR – 2 – Monthly Return Detailing Inward Supplies

Every registered taxable person is required to file GSTR – 2 within a period of 15 days from the end of the month.

Details to be provided in GSTR – 2 return includes inward supplies from the registered and unregistered person, imported goods or services, TCS, ISD and TDS credit, tax liability under reverse charge and tax paid.

GSTR – 3 –

Every registered taxable person is required to file GSTR – 3 within a period of 20 days from the end of the month.

Details in GSTR – 3 return includes total tax liability and tax payment, TDS credit etc.

GSTR – 9 – Annual Return

GSTR – 9 is the annual return to be filed by all registered normal taxable person within 31st December. Details to be provided in GSTR – 9 includes details of statutory audit and auditors, details of income and expense, reconciliation, profit as per profit and loss account etc.

Composition Tax Dealer –

GSTR – 4 – Quarterly Return

The registered taxable person who has opted for composition scheme is required to file GSTR – 4 within a period of 18 days from the end of the respective quarter.

Details to be provided in GSTR – 4 includes inward supplies and outward supplies, debit and credit notes, receipt of TDS credit, tax liability payable and tax paid etc.

GSTR – 9A – Annual Return

Annual return in form GSTR – 9A is to be filed by the person who has opted for composition scheme. Details to be provided in GSTR – 9A includes details of inward and outward supplies, total turnover, taxes paid etc.

Non-Resident Taxable Person –

GSTR – 5 –

A non-resident taxable person has to file GST return in form GSTR – 5 within a period of 20 days from the end of the specific month.

Details to be provided in GSTR – 5 includes details of imported goods or services, debit or credit note, details of tax paid etc.

Input Service Distributor –

GSTR – 6 –

Input service distributor is required to file GST return in form GSTR – 6 within a period of 13 days from the end of the particular month.

Details to be provided in GSTR – 6 return includes details of ITC received and distributed etc.

Tax Deductor (TDS)–

GSTR – 7 –

A person liable to deduct tax at source is required to file monthly return in form GSTR – 7 within a period of 10 days from the end of the particular month. Details contained in GSTR – 7 includes TDS deducted and paid, total liability etc.

E-Commerce Operator –

GSTR – 8 –

E-commerce operator needs to file GST return in form GSTR – 8 within a period of 10 days from the end of the particular month. Details to be provided in GSTR – 8 includes supplies to registered and unregistered person, TCS collected etc.

Nil Return Under GST

It is mandatory to file NIL return under GST. In other words, the registered taxpayer needs to compulsorily file required returns under Goods and Service Tax, even in case there is no transaction in the given period.

The Goods and Service Tax council has approved NIL return filing through SMS, however the same is likely to be made available from 1st January, 2019. Till then NIL return needs to be filed normally through GST portal.

Late Fee For Non-Filing And / Or Late Filing Of GST Return

Provisions for the late fee for failure to file GST return are contained under section 47 of the Central Goods and Service Tax Act, 2017.

Currently, the late fee payable for failure to file GST return is INR 25 per day during which the failure continues. However the total amount of late fee payable would be INR 50 per day (INR 25 CGST and INR 25 SGST).

It must be noted that in the case of NIL return, the total amount of late fee payable would be INR 20 per day (INR 10 CGST and INR 10 SGST).

The maximum amount of late fee payable for failure to furnish the required return is limit to INR 5000, in case of all the returns other than annual return. In other words, the late fee payable can be maximum to an amount of INR 5,000. In case of the annual return, a maximum amount of late fee payable is subject to an amount calculated at 0.25% of turnover.

Proposed Sahaj And Sugam Returns Under GST

Due to complex return filing process under GST, the Goods and Service Tax council has introduced Sahaj and Sugam return filing. Sahaj and Sugar returns are still under approval process and the same is likely to be made effective from 1st January, 2019.

As proposed both Sahaj and Sugam returns are quarterly return and are applicable to the registered taxable person whose turnover is less than 5 Crore. Sahaj return is applicable only in case of B2C transaction, whereas, Sugam return is applicable in case of both B2B and B2C transactions.

GST Returns – Various Forms, Due Dates and Extension Thereof

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2 Comments

  1. Shankar D Kurtakoti says:

    GSTR 2 and GSTR 3 is not required to be filed. This fact is not mentioned in this article. Tax payers will get confused if this fact is not mentioned.

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