GST Return Filing In Regular Tax payer
After obtaining GST registration, the entity will be required to file GST returns periodically. Failure to file GST returns will attract penalty.
- Entities with an annual turnover of more than Rs.1.5 crores (INR 15 Million) will have to file monthly GST returns.
- The three returns to be filed by normal taxpayers are GSTR-1 (details of outward supplies) on the 10th of each month,
- GSTR-2 (details of inward supplies) on the 15th of each month
- GSTR-3 (monthly return) on the 25th of each month.
The reduce the compliance burden of small businesses with a turnover of less than Rs.1.5 crores, the Government has announced quarterly returns commencing from the quarter starting in October.
GST Return Filing In Composition Tax payer
- GSTR-4 –GSTR-4 is a GST Return that has to be filed by a Composition Dealer. Unlike a normal taxpayer who needs to furnish 3 monthly returns, a dealer opting for the composition scheme is required to furnish only 1 return which is GSTR-4. GSTR-4 cannot be revised after filing on the GSTN Portal. Any mistake in the return can be revised in the next month’s return only.
- GSTR-4A –Similar to the GSTR-2A above, GSTR-4A is generated quarterly for composition scheme taxpayers. It has the details of the inward supplies as reported by suppliers in GSTR-1.
- GSTR-9A – This is the annual return for all composition tax payers. It has to filed by 31st December of the coming financial year and includes all the quarterly returns filed by the composition tax payer.
Returns to be filed by Foreign Non-Resident Taxpayer
GSTR-5 – This is a detailed form containing the particulars of outward supplies, imports, tax paid, input tax availed and remaining stock
Returns to be filed by an Input Service Distributor
GSTR-6A – It will be auto-populated with the details of inward supplier made to them. It has to be filed on a monthly basis by the ISD.
GSTR-6 – Once the details are confirmed or corrected by the ISD, then GSTR-6 will be generated. This is also a monthly filing.
Returns to be filed by a Tax Deductor
GSTR-7 – Details of the tax deductions made during the month has to be furnished here.
GSTR-7A – This is a TDS certificate, which is auto-generated upon filing the GSTR-7 by the tax Deductor. It will contain details of the tax deducted and the total amount of payment made.
Return to be filed by an E-Commerce Portal
- GSTR-8 – This return shall contain all the supplies made by the E-Commerce seller and the amount of tax collected as well.
- GSTR-9B – It has to be filed annually and is basically an audited annual accounts, duly certified by competent authority.
- Form GSTR-11 – These bodies have a UIN (Unique Identification Number) and hence will be required to furnish the details of inward supplies.
- GSTR-10 – Where a taxable person’s registration has been surrendered or cancelled, then a final return in Form GSTR-10 has to be filed within 3 months of such cancellation or registration.