What is GST Return?
Any individual or organisation who applies for GST registration must file GST returns mandatorily as per the governing Act of GST. With the filing of GST return, the taxpayers intimate the GST department about the inflow and outflow of supplies including the amount of tax paid and collected.
Utility of filing GST Returns
- It eliminates the cascading effect
- Benefits to start-ups
- Quick supply of goods by e-commerce companies
- Simple and common form all the taxes
Types of GST Returns
GSTR-1: To be filed by all registered tax payers. It has the following details:
- Outward supplies i.e., sales
- Credit and debit notes issued
- Amendments to sale invoices
Inward supplies i.e., purchases made from registered seller
GSR-3B: To be filed by all the registered taxpayers. It has the following details:
- Outward supplies made
- Input tax credit claimed
- Tax liability ascertained
- Tax paid
GSTR-4: To be filed by composition dealers (Turnover is less than Rs. 1.5 crores and opts to pay for tax at a fixed rate on the turnover amount). It has the following details:
- Outward supplies made i.e., sales
Inward supplies received i.e., purchases
GSTR-5: It is to be filed by every registered non-resident taxable person, carrying on business in India. It has the following details:
- Outward supplies made i.e., sales
- Inward supplies received i.e., purchases
- Credit and debit notes issued
- Tax liability
Tax paid
GSTR-6: To be filled by Input Service Distributor. It has the following details:
- Input tax credit received
- Input tax credit distributed
- Documents issued for distribution of input credit
- Manner of distribution
GSTR-6A: This return is auto populated from details provided by supplier of Input Service in GSTR-1
GSTR-7: To be filed by persons required to deduct TDS. It has the following details:
- TDS deducted
- TDS liability payable
- TDS liability paid
TDS refund claimed
Rest of the GST Returns
GSTR-8: To be filed by e-commerce operators who are required to deduct tax at source. It has the following details:
- Supplies made through e-commerce platform
- TCS collected on the supplies made
GSTR-9: It is an annual return, which is to be filed by the taxpayers registered under GST. It has the following details:
- Outward supplies made
- Inward supplies received
HSN code
It is not to be filed by – Composition scheme holders, casual taxable persons, input service distributors, non-resident taxable persons and persons paying TDS under section 51 of CGST Act.
GSTR-9A:Â It is an annual return to be filed by taxpayers registered under composition scheme.
GSTR-9C:Â It is a reconciliation statement, which is to be filed by all taxpayers whose turnover exceeds Rs. 2 crores in a financial year. And, it has the following details:
- Books of account to be audited by Chartered Accountant/Cost Accountant
Reconciliation is between audited financial statements and GSTR-9 that has been filed.
GSTR-10: To be filed by taxable person whose registration has been cancelled or surrendered. It has the following details:
- Final return
To be filed within 3 months from the date of cancellation or surrender of registration, whichever is earlier.
GSTR-11: To be filed by taxpayers who have been issued a Unique Identity Number. UIN is allotted to foreign diplomatic missions and embassies not liable to pay tax in India, for the purpose of granting them refund of taxes.
GST Returns and filing period
| GST Return | Type | Filing Entities | Due Date |
|---|---|---|---|
| GSTR-1 | Outward Supplies Return | Regular taxpayers | 11th of the following month |
| GSTR-3B | Summary Return | Regular taxpayers | 20th of the following month |
| GSTR-4 | Quarterly Return | Composition scheme taxpayers | 18th of the month succeeding quarter |
| GSTR-5 | Non-Resident Taxpayer's Return | Non-resident taxpayers | 20th of the following month |
| GSTR-6 | Input Service Distributor Return | Input Service Distributors (ISDs) | 13th of the following month |
| GSTR-7 | TDS (Tax Deducted at Source) Return | Tax Deductors | 10th of the following month |
| GSTR-8 | TCS (Tax Collected at Source) Return | E-commerce operators | 10th of the following month |
| GSTR-9 | Annual Return | Regular taxpayers | 31st December of the subsequent year |
| GSTR-10 | Final Return | Canceled or surrendered taxpayers | Within 3 months from cancellation |
| GSTR-11 | Inward Supplies Statement for UIN | UIN holders (e.g., foreign missions) | 28th of the following 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. Moreover, this penalty is called 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 which will be announced through notifications. The maximum amount of fine that can be levied is Rs.5,000.Â
Integrated GST or IGST does not attract any late fee in the delay case of the return filing. In addition, the taxpayer will need to pay an 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.
FAQs
CGST is Central Goods and Services Tax which is levied by Centre on intra state supply of goods and/or services and that by the state is State Goods and Service Tax (SGST). On the other hand, IGST is Integrated Goods and Service Tax collected by centre on supply of goods and/or services outside the State.
No, different forms are not required and the same form can be used for filing CGST, SGST and IGST returns.
Taxes are to be paid before filing of GST returns.
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