What is meant by GST Return?

Each person registered under the act of GST has to provide regularly the information of purchases and sales along with taxes paid and collected by online GST return filing. It is necessary to pay the taxes due before filing the GST return.

What is the meant by GST Filing Returns Online?

Each individual who applies for a registration of GST needs to file the return of the GST online. Returns of GST are necessary for every individual who enroll for the registration of GST. There are various kinds of GST returns which you need to file every month and also require to file one GST return annually. If you are registered for the composition scheme of the GST, then you require to file GST returns every quarter along with filing one GST return every year. You require to file the GSTR 3,2 and 1.

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Procedure of filing GST return:

You can file GST returns in various ways and it also depends up on the registration and transaction nature. Forms of return which are relevant for tax payers and dates due are following:

Filing annual return by form GSTR-9 till the date 31st December of the coming financial year.

Monthly return filing with due tax payment with form GSTR-2 till next month 15th.

Monthly return filing with due tax payment with Form GSTR-3 till next month 20th.

Monthly outward supplies information with Form GSTR-1 till next month 10th.

Kinds of returns covered under GST

There are various returns covered under the regime of GST. The most of the frequently used GST returns are GSTR 9, GSTR 4, GSTR 3, GSTR 2 and GSTR 1. GSTR 3, GSTR 2 and GSTR 1 will submitted every month by all the businesses. GSTR9 is submitted every year. Composition taxpayers submits the GSTR 4 every quarter.

Important information regarding kinds of GST filings returns

GSTR-3B:

Particulars of taxable supply of services and goods for the July and August 2017 months. You don’t require to give level of invoice details in the form. You require to only provide sum of the values for every field.

GSTR-11:

Particulars of inward supplies needs to be provided by an individual who has UIN (Unique Identification Number) by month 28th date, next to the month for which you filed the statement.

GSTR-10:

A taxable person filed the final return whose registration is cancelled or surrendered within a duration of 3 months of surrender or cancellation date.

GSTR-9:

A taxable person who is registered, filed the annual return till next financial year on 31st December.

GSTR-8:

This form encloses the particulars of all supplies executed via the operator of e-commerce and the total amount of collected tax. GSTR-8 is filed by the collector of tax or the operator of e-commerce till 10th of each month.

GSTR-7:

This form encloses the tax deduction particulars. The last date of filing this form is the 10th of the coming month.

GSTR-6:

This form encloses the return particulars for the distributor of the input service and it is filed by distributor of the input services till 13th of the coming month.

GSTR-5:

This form encloses the particulars of remaining stock, paid tax, input tax, imports and outward supplies. A non-resident taxable person files this form till 20th of the coming month.

GSTR-4:

This form encloses the particulars of tax payment, tax payable, and outward supplies. The date due of this form filing is 18th of the succeeding quarter month.

GST-3:

This form is automatically filed on the inward supplies and the outward supplies basis with the tax payment encloses in GSTR-2 and 1. This form will be created by 20th of the coming month.

GSTR-2:

Information of taxable services and goods inward supplies need to be filed by the taxable registered recipient of the services and goods. The last date of form filing is 15th of the coming month.

GSTR-1:

Information of all the taxable services and goods of outward supplies is filed by taxable registered supplier. The last date of filing this form is 10th of the coming month.

Frequently Asked Questions

Each entity who is registered for GST need to file the return of the GST. You require to file a nil return if no any activities of sales and purchases are carried out during a period of return.
Depending on the kind of transactions and registrations, various duration of time is mentioned. Monthly return need to be filed by E-commerce operators, tax deductors, input service distributor, foreign non-residents, and the regular tax payers. Quarterly return is filed by composition taxpayers. An annual return of GST is also needs to be filed.
If the taxpayer does not file the return on the date due, then he needs to give a late fee penalty of Rs. 100 every day. The maximum amount of penalty is Rs. 5000.
The forms of returns are same for IGST, SGST and CGST. An independent column is applicable for IGST, SGST and CGST in the similar form and filled depending upon inter-state or intra-state supply.
The return of GSTR-1 encloses information of the sales of services/goods or outward supplies by taxpayers. Following details are captured by this form of return.
  •     Revision information regarding invoices of the outward sales related to previous periods of tax.
  •     Advances information received facing future supplies.
  •     Invoices information issued for the past month and the identical paid taxes.
  •     Simple information such as return filing period, GSTIN, and the name of the business etc.
The GSTR-2 return will enclose particulars of the purchases of services / or goods or the inward supplies by the taxpayer. For a buyer, GSTR-2 is filled already and it is filled on the basis of GSTR-1. A supplier filled GSTR-1. You require to verify the information which is already filled and you can make changes if needed.

Take an example, if you are purchasing things from a company B, then GSTR-1 is filled by the company b and as a purchaser, it encloses your name. The similar particulars are reflected in GSTR-2 as acquisition which requires to be verified by you. Therefore, GSTR-2 will encloses the particulars of purchases auto-populated.
GSTR-3 return is a merged version of GSTR-2 and GSTR-1. Based on the GSTR-2 and GSTR-1, for a taxpayer, GSTR-3 is filled already. You require to verify this already filed information and make changes if needed.

The GSTR-3 return will enclose the following particulars:
  •     Information relating to Liability ledger, cash ledger and tax credit ledger.
  •     Particulars of tax payment covered by different tax heads of IGST, SGST and CGST.
  •     The taxpayer will get the right of refund claiming for the extra payment or carrying the credit forward.
Small taxpayers having a total turnover around Rs. 75 lakhs have the right to choose the scheme of composition. In that case, he need to pay taxes at an established rate depending on business type. For other suppliers the rate is 1%, for restaurants in service sector the rate is 5%, and for the manufacturers the rate is 2%.

The facility of input credit of tax is not accessible. A taxpayer choosing the scheme of composition require to file GSTR-4 (quarterly return). He also needs to give the following particulars:
  •     Declaration of invoice level particulars of purchase
  •     Tax payment particulars in the return
  •     The sum of total consolidated supply built during the return period.

Under the GST, all the taxpayers need to submit GSTR-9 (annual GST return). This will give full visibility relating to the taxpayer activities.

It is a full return and capture particulars of entire expenses and incomes of the taxpayers. According to the monthly returns, it will organize the taxpayers.

The main benefit of filing this return is that it gives the convenience to rectify small reporting of undertaken activities.

The last date for filing this return is 31st December and it is next to the financial year end. The return needs to be filed with the annual accounts audited copies.

No. Those taxes which are due requires to be paid before return filing for a particular period. Without it the return is not valid.
No. You cannot revise the return of GST. Any modifications in the particulars can be performed in the section “amendment” of the form of return of the coming period.
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