GST returns

GST Returns – Which one do you have to file?

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We have heard about GST returns many times. but many of us don’t know what is GST returns and their specialties. in this post, we will discuss GST returns and their categories.

Also read: GST Return Filing Process-A simple outline

GST return

Any individual or organization who is going to apply for GST registration must file GST returns. The returns are necessary as per the governing Act of GST. With the GST returns filing, the taxpayers are intimating the GST department about the inflow and outflow of supplies, including the amount of tax paid and collected.

Utility Of Filing GST Returns

  • It will help to eliminate the cascading effect
  • it is very beneficial for start-ups
  • Quick and easy supply of goods by e-commerce companies
  • A simple, easy, and common form for all the taxes.

Also read: Benefits Of Filing GST Returns On Time

Types Of GST Returns

GSTR-1

A registered taxable supplier should file a GSTR-1 form with details of the outward supplies of goods and services. This form is filled out by the supplier. The buyer has to confirm the auto-populated buy information on the form and make modifications if required. The form will contain the following details:

  • Business name, period for which the return is filed, Goods and Services Taxpayer Identification Number (GSTIN).
  • Invoices issued in the previous month and the corresponding taxes collected.
  • Advances received against a supply order that has to be delivered in the future.
  • Revision in outward sales invoices from the previous tax periods.

GSTR-2A

GSTR-2A is a view-only dynamic GST return relevant for the recipient or buyer of goods and services. It contains the details of all inward supplies of goods and services i.e., purchases made from GST registered suppliers during a tax period.

The data is auto-populated based on data filed by the corresponding suppliers in their GSTR-1 returns. Further, data filed in the Invoice Furnishing Facility (IFF) by the QRMP taxpayer, also get auto-filled.

GSTR-2

GSTR-2 form has to be filed by a registered taxable recipient with details of the inward supplies of goods and services. The form will contain the following details:

  • Business name, a period for which the return is filed, Goods and Services Tax Identification Number (GSTIN).
  • Invoices issued in the previous month and the corresponding taxes collected.
  • Advances received against a supply order that has to be delivered in the future.
  • Revision in outward sales invoices from the previous tax periods.

GSTR-3

GSTR-3 form has to be filed by a registered taxpayer with details that are automatically populated by from GSTR-1 and GSTR-2 returns forms. The taxpayer has to verify and make modifications if any. GSTR-3 return form will contain the following details:

  • Details about Input Tax Credit, liability, and cash ledger.
  • Details of tax paid under CGST, SGST, and IGST.
  • Claim a refund of excess payment or request to carry forward the credit.

GSTR-3B

GSTR-3B is a monthly self-declaration to be filed, for furnishing summarised details of all outward supplies made, input tax credit claimed, tax liability ascertained, and taxes paid.

It is to be filed by all normal taxpayers registered under GST. The sales and input tax credit details must be reconciled with GSTR-1 and GSTR-2B every tax period before filing GSTR-3B. GST reconciliation is crucial to identify mismatches in data, that may lead to GST notices in the future or suspension of GST registration as well.

GSTR-4

GSTR-4 form has to be filed by taxpayers who have opted for the Composition Scheme. Taxpayers with small businesses or a turnover of up to Rs.75 lakh can opt for the Composition Scheme wherein he or they have to pay tax at a fixed rate based on the type of business. Taxpayers under this scheme will not have an input tax credit facility. GSTR-4 quarterly return form will contain the following details:

  • The total value of consolidated supply made during the period of return.
  • Details of tax paid.
  • Invoice-level purchase information.

GSTR-5

GSTR-5 form has to be filed by all registered non-resident taxpayers. This form will contain the following:

  • Name and address of the taxpayer, GSTIN, and period of return.
  • Details of outward supplies and inward supplies.
  • Details of goods imported, any amendments in goods imported during the previous tax periods.
  • Import of services, amendments in import of services
  • Details of credit or debit notes, closing stock of goods, and refund claimed from cash ledger.

GSTR-5A

GSTR-5A refers to a summary return for reporting the outward taxable supplies and tax payable by Online Information and Database Access or Retrieval Services (OIDAR) provider under GST.

GSTR-6

GSTR-6 form has to be filed by all taxpayers who are registered as an Input Service Distributor. This form will contain the following:

  • Name and address of the taxpayer, GSTIN, and period of return.
  • Details of input credit distributed.
  • The amount of input credit availed under the current tax period.
  • Details of inward supplies will be auto-populated from GSTR-1 and GSTR-5 return forms.
  • Supplies received from registered persons.
  • Details of credit or debit notes.
  • Input tax credit received, input tax credit reverted, and input tax credit distributed as SGST, CGST, and IGST.
  • Details of the receiver of input credit corresponding to his or her GSTIN.

GSTR-6A

GSTR 6A is an automatically generated form based on the details provided by the suppliers of an Input Service Distributor in their GSTR 1. GSTR-6A is a read-only form.

GSTR-7

GSTR-7 form has to be filed by all registered taxpayers who are required to deduct tax at source under the GST rule. This form will contain the following:

  • Name and address of the taxpayer, GSTIN, and period of return.
  • TDS details and amendments in invoice amount, TDS amount or contract details.
  • TDS liability will be auto-populated. Details of fees for late filing of return and interest on delayed payment of TDS.
  • Refund received from Electronic Cash Ledger will be auto-populated.

GSTR-8

GSTR-8 form has to be filed by all e-Commerce operators who are required to collect tax at source under the GST rule. This form will contain details of supplies effected and the amount of tax collected under Sub-section (1) of Section 43C of Model GST Law. Other details include:

  • Details of fees for late filing of return and interest on delayed payment of TDS.
  • Name and address of the taxpayer, GSTIN, and period of return.
  • Details of supplies made to registered taxable person and amendments, if any.
  • TDS liability will be auto-populated.
  • Details of supplies made to unregistered persons.
  • Details of Tax Collected at Source.

GSTR-9

GSTR-9 form is filed by normal taxpayers with details of all income and expenditure for the year. This detail will be regrouped in accordance with the monthly returns. The taxpayer will have the opportunity to make modifications in the information provided if required. GSTR-9 has to be filed by 31st December of the following financial year along with the audited copies of the annual accounts.

It contains the details of all outward supplies made, inward supplies received during the relevant financial year under different tax heads i.e. CGST, SGST & IGST, and a summary value of supplies reported under every HSN code, along with details of taxes payable and paid.

GSTR-10

GSTR-10 form has to be filed by any taxpayer who opts for cancellation of GST registration. This form will contain the following:

  • Application Reference Number (ARN).
  • Date of cancellation of GST registration.
  • Unique ID of cancellation order.
  • Date of cancellation order.
  • Details of closing stock including amount of tax payable on closing stock.

GSTR-10 final return form has to be filed within 3 months of the date of cancellation or date of cancellation order, whichever is later.

GSTR-11: 

GSTR-11 form has to be filed by everyone who has been issued a Unique Identity Number (UIN) and claims a refund of the taxes paid on inward supplies. This form will contain the following details:

  • Name of the government entity, UIN, and period of return.
  • All inward purchases from GST registered supplier will be auto-populated.

GST Filing Date

Return FormTo be filed Due Date 
GSTR-1Monthly/Quarterly10th of succeeding month13th of succeeding month quarter
GSTR-2AAuto Drafted
GSTR-3BMonthly/Quarterly20th of succeeding monthPART A States: 22nd of the month of the next quarter. PART B: 24th of the month of the next quarter.
GSTR-4Annually30th of the month of the next financial year
GSTR-5To be filed a week before the expiry of GST registration or before the 20th of next month To be filed a week before the expiry of GST registration or before 20th of next month, if registration is for several months
GSTR-6Monthly13th of the subsequent month
GSTR-7Monthly10th of the subsequent month 
GSTR-8Monthly10th of the subsequent month
GSTR-9Annually31st December of the next financial year
GSTR-10On cancellation/surrenderWithin 3 months
GSTR-11Claim refund 28th of the subsequent month

Penalty For Late Filing Of GST Returns

A penalty will be levied on the taxpayer in case he/she fails to file the returns on time. This penalty is the late fee. As per the GST Law, the late fee is Rs.100 for each day for each Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST). Thus, the total fine amount will be Rs.200 per day. However, this rate is subject to changes that will be announced through notifications.

The maximum amount of fine that can be levied is Rs.5,000. Integrate GST or IGST does not attract any late fee in case the return filing is delayed. The taxpayer will also be required to pay interest at the rate of 18% p.a. in addition to the late fee. This interest has to be calculated by the taxpayer on the amount of tax that is to be paid. The time period will be calculated from the day following the filing deadline till the date when the actual payment is made.

Final Thoughts

GST return is an unavoidable thing in the business field. we don’t have to do research on this topic but knowing about GST Return is good. and it is always good to know about things. As a common man, we don’t need to bother about the GST return. but you can know the basics of the GST return and it will be useful if you are going to start a business or if you are pursuing a career in finance. in this post, we discussed GST returns and their types. I hope this post will give you a fair idea regarding GST return.


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