Understanding Various Types of GST Returns

Current article helps to understand various types of GST returns including details to be provided in the same.

GSTR – 1 – Return Containing Details Of Outward Supplies –

GSTR – 1 return basically contains the sales transactions i.e. outward supplies of taxable goods or services. GSTR – 1 return can be filed monthly and quarterly based on the turnover of the taxpayer. If the turnover of the taxpayer is less than INR 1.5 Crore, GSTR – 1 return has to be filed quarterly and if the turnover is more than INR 1.5 Crore, GSTR – 1 return has to be filed monthly.

Important particulars of GSTR – 1 return is detailed hereunder –

• Taxable outward supplies to a registered person;
• Taxable inter-state supplies to the unregistered person (invoice value more than INR 2.5 Lakhs);
• Taxable supplies made to unregistered person;
• Intra-state supplies;
• Inter-state supplies;
• NIL, exempted and non-GST supplies.

GSTR – 2 – Return Containing Details Of Inward Supplies –

GSTR – 2 return is to be filed by all the registered person within a period of 15 days from the end of the respective month. Details to be provided in GSTR – 2 are –

• Details of taxable inward supplies from a registered person;
• Details of imported inputs and imported services;
• Details of debit note and credit note (if any);
• Details of supplies received from the unregistered person;
• Details of TCS credit, ISD credit and TDS credit;
• Details of ITC received on invoices on which partial credit has been availed earlier;
• Details of tax liability under reverse charge;
• Details of tax paid.

GSTR – 3 –

GSTR – 3 is a monthly return. Information like outward supply and inward supply would be auto-populated through GSTR-1 and GSTR-2 return filed. GSTR-3 is to be filed within a period of 20 days from the end of the respective month. Details to be provided in GSTR-3 returns are –

• Details of turnover;
• Details of total monthly tax liability;
• Details of receipt of TDS credit;
• Details of tax, interest, late fee and penalty;

GSTR – 4 – Return Applicable To Composition Scheme Taxpayer –

GSTR – 4 is a quarterly return which is to be filed by the taxable person who has opted for composition scheme. The return is to be filed within 18 days from the end of the respective quarter. List of details to be provided while filing GSTR – 4 is summarized hereunder –

• Details of taxable inward supplies;
• Details of imported goods and / or services;
• Details of outward supplies;
• Details of debit or credit notes (if any);
• Details of receipt of TDS credit during the period;
• Tax liability arising on account of the time of supply without receipt of invoice (under reverse charge);
• Tax already paid on account of the time of supply for invoices received in the current period (under reverse charge);
• Details of tax liability payable and tax payment;

GSTR – 5 – Return Applicable To Non-Resident Taxable Person –

GSTR – 5 return is required to be filed by the non-resident taxable person within 20 days from the end of the respective month, however, in case of expiry of registration or cancellation, GSTR – 5 needs to be filed within 7 days. Some of the important details to be provided in GSTR – 5 return is listed below –

• The validity period of GST registration;
• Details of imported goods and / or services;
• Details of outward supplies made;
• Details of debit or credit notes (if any);
• Details of tax, interest, late fee and penalty;
• Refund claim (from cash ledger);

GSTR – 6 – Return Applicable To Input Service Distributor –

GSTR – 6 return is to be filed by the input service distributor within a period of 13 days from the end of the respective month. Details contained in the said return are –

• Details of input tax credit received for distribution;
• Total ITC / eligible ITC/ ineligible ITC to be distributed for the tax period;
• Distribution of ITC;
• ITC mismatch and reclaims to be distributed in the tax period;
• Redistribution of ITC earlier distributed to the wrong recipient;

GSTR – 7 – Return Applicable To Person Deducting Tax At Source  

GSTR – 7 return is to be filed by the person deducting tax at source within a period of 10 days from the end of the respective month. Details contained in GSTR – 7 are highlighted hereunder –

• Details of TDS;
• Details of tax deducted and tax paid;

GSTR – 8 – Return Applicable To E-Commerce Operator –

GSTR – 8 return is to be filed by the e-commerce operator liable to collect tax at source. Return is to be filed within 10 days from the end of the respective month. Details to be provided in GSTR – 8 return is –

• GSTIN;
• Name of the person liable to collect tax;
• Details of supplies made to registered taxable person;
• Details of supplies made to an unregistered taxable person;
• Details of tax collected at source;
• Details of liability payable and paid.

GSTR – 9 – Annual Return –

• Details of statutory audit like date, auditor etc. (if applicable);
• Details of expenditure like the value of inter-state and intra-state purchases on which ITC availed, the value of purchases on which ITC not availed, sales return, other expenditure;
• Details of income like the value of inter-state and intra-state supplies on which GST paid, the value of supplies on which no GST paid (export), the value of other supplies on which no GST paid, purchase return and other income;
• Return reconciliation statement;
• Profit as per profit and loss account;

It must be noted that annual return in case of composition scheme dealer is required to be filed in form GSTR – 9A and annual return in case of e-commerce operator is required to be filed in form GSTR – 9B.

GSTR – 10 – Return Applicable To Person Who Has Opted For Cancellation Of GST Registration –

GSTR – 10 return is to be filed by the taxable person who has opted for cancellation of GST registration. Details to be provided in GSTR-10 are –

• Application reference number of GST registration surrender application;
• The effective date of GST registration cancellation;
• Details of GST cancellation order (if passed);
• Details of stock held on the date of surrender of registration;

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