1. Periodicity of Returns
| a | Monthly Return | Every registered taxable person, other than composition taxpayer u/s 8 |
| b | Quarterly Return | Every registered composition taxpayer u/s 8 |
2. Types of Returns / Statements
| a | Within 10 days | Monthly Return (Section 27) GSTR 7 | Every registered taxable person deducting Tax |
| b | Within 10 days | Details of outward supplies (Section 25) GSTR 1 | Every registered taxable person, other than an input service distributor, composition taxpayer and person deducting Tax |
| c | Within 13 days | Monthly Return (Section 27) GSTR 6 | Every registered taxable person who is input service distributor |
| d | Within 15 days | details of inward supplies (Section 26) GSTR 2 | Every registered taxable person, other than an input service distributor, composition taxpayer and person deducting Tax |
| e | Within 18 days | Quarterly Return (Section 27) GSTR 4 | Every registered composition taxpayer u/s 8 |
| f | Within 20 days | Monthly Return (Section 27) GSTR 3 | Every registered taxable person, other than an input service distributor, composition taxpayer and person deducting Tax |
| g | By due date for filing of return for the September month or second quarter, as the case may be, following the end of the financial year, or the actual date of filing of relevant annual return, whichever is earlier. |
Revised Details / Return (Sections 25, 26, 27) | Every registered taxable person, other than an input service distributor and person deducting Tax |
| h | By 31st December following the end of financial year | Annual Return (Section 30) GSTR 8 | Every registered taxable person, other than an input service distributor, person deducting Tax, a casual taxable person and a non‑resident taxable person |
| Audit Report if liable to Audit under Section 42(4) and other statements |
3. First Return
(i) First Return should contain details as below ‑
– details of outward supplies under section 25 from the date on which he became liable to registration till the end of the month in which the registration has been granted;
– details of inward supplies under section 26 from the effective date of registration till the end of the month in which the registration has been granted:
(ii) A registered composition taxpayer u/s 8 shall furnish the first return for the period starting from the date on which he becomes a registered taxable person till the end of the quarter in which the registration has been granted.
4. Last Return
Every registered taxable person who applies for cancellation of registration shall furnish a final return within three months of the date of cancellation or date of cancellation order, whichever is later.
5. Notes –
(i) Details of outward supplies shall include details relating to zero-rated supplies, inter-state supplies, return of goods received in relation to / in pursuance of an inward supply, exports, debit notes, credit notes and supplementary invoices issued during the said tax period.
(ii) Details of inward supplies shall includes details relating to supplies of taxable goods and/or services, including inward supplies of services on which the tax is payable on reverse charge basis under this Act and inward supplies of goods and/or services taxable under the IGST Act, and credit or debit notes received in respect of such supplies.
(iii) A registered taxable person shall not be allowed to furnish return for a tax period if valid return for any previous tax period has not been furnished by him.
(iv) Every registered taxable person shall furnish a return for every tax period whether or not any supplies of goods and/or services have been effected during such tax period.
(v) Every registered taxable person shall pay to the credit of the appropriate Government the tax due as per such return not later than the last date on which he is required to furnish such return.
(vi) A return by a registered taxable person without payment of full tax due as per such return shall not be treated as a valid return for allowing input tax credit in respect of supplies made by such person.
6. Late fee
Any registered taxable person who fails to furnish,
(i) Details of outward supplies under Section 25;
(ii) Details of inward supplies under Section 26;
(iii) Returns under Section 27 or last return under Section 31;
by the due date shall be liable to a late fee of Rs.100/- for every day during which such failure continues subject to a maximum of Rs.5,000/-.
Any registered taxable person who fails to furnish the Annual return with or without Audit and other statemets as required under section 30 by the due date shall be liable to a late fee of Rs.100/- for every day during which such failure continues subject to a maximum of an amount calculated at 0.25% of his aggregate turnover.
___________________
This presentation prepared by CA Sunil Dandekar provides certain general information existing as at the time of preparation of this presentation. This Presentation does not purport to identify and deal with all the issues and provisions relating to subject. Accordingly, this presentation should neither be regarded as comprehensive nor sufficient for the purposes of decision making. The author CA Sunil Dandekar does not undertake any legal liability for any of the contents in this presentation. The information provided is not, nor is it intended to be an advice on any matter and should not be relied on as such. Professional advice should be sought before taking action on any of the information contained in it. Without prior permission of author CA Sunil Dandekar, this document should not be quoted or reproduced in whole or in part or otherwise referred to in any documents.
