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What is GST Returns? Know Due Dates and Types of GST Returns

In this article we will learn about….. What is GST Returns? Who should file, Due Dates and Types of GST Returns.

GST Returns is a document that will be contain all the details of your Sales, Purchases, tax collected on sales (Output Tax), tax paid on Purchases (Input Tax).Once you file return, you will get to know your tax liability i.e money that you owe the Government.

All Registered businesses have to file Monthly or Quarterly GST Returns and an Annual Return based on type of business. These Returns are done online on the GST Portals.

Who should File?

Under the GST Regime, a regular businesses having more than 5 cr as annual aggregate turnover ( taxpayer not opted for QRMP Scheme) have to file 2 monthly i.e GSTR1 and 3B) and an Annual Return i.e GSTR 9. Taxpayers with turnover upto 5 cr have the option to file returns under QRMP Scheme. In this Scheme, QRMP filers have to pay tax on a Monthly basis even though they are filling returns Quarterly.

There are also separate returns required to be filed in special cases like Composition scheme i.e CMP-08 and Annual Return i.e GSTR 4.

How many returns are there under GST?

There are 13 Returns namely GSTR 1,3B, 4,5,5A,6,7,8,9,10,11, CMP-08 and ITC-04.

However , all the returns do not apply to all taxpayers. Taxpayers file returns based on what type of Registration he obtained.

Besides the GST Returns that are required to be filed, there are statements of ITC available to taxpayers namely GSTR 2A ( Dynamic) and GSTR 2B (Static).

There is also an Invoice Furnishing Facility (IFF) available to small taxpayers who are registered under QRMP Scheme to furnish their B2B sales for the first 2 months of the Quarter. These small taxpayers will still need to pay taxes on a monthly basis  using form PMT-06.

Now , here is a list of some common used  returns to be filed under GST Law.

GSTR1 Details of Outward Supplies of taxable goods and services.

• Due Date: Monthly – 11TH of the next month

• Quarterly (if opted under the QRMP Scheme)-13th of the month succeeding the quarter.

IFF(Optional by taxpayers under QRMP Scheme)

• Details of B2B supplies of taxable goods and services

• Due date: Monthly( for the first 2 months of the quarter)-13th of the next month

GSTR 3B Summary Return of Outward supplies and input tax credit claimed along with payment of tax by the taxpayer.

• Due date: Monthly- 20th of next month.

• Quarterly (QRMP scheme)-22nd or 24th of the month succeeding the quarter.

GSTR 4 Return for taxpayer under Composition scheme under Sec 10 of CGST Act

• Annually: 30th of month succeeding a financial year

• CMP 08 Statement Cum Challan to make a tax payment

• Due date: Quarterly -18th of the month succeeding the Quarter

GSTR-5 Return to be filed by Non Resident Taxable Person

• Due date: Monthly- 20th of next Month

GSTR 6 Return for an Input Service Distributor to distribute the eligible ITC to its branches

• Due date: Monthly-13th of the next month

GSTR 7 Return to be filed by registered person deducting TDS

• Due date: Monthly-10th of the next month

GSTR 8 Returns to be filed by e commerce operator

• Due date: Monthly-10th of next month

GSTR9 Annual return by regular taxpayer

• Due date : Annually -31st december of next financial year

GSTR 10 Final return to be filed by taxpayer whose GST registration is canceled

• Due date:Once, when the reg is canceled or surrendered

• Within 3 months of the date of cancellation or date of cancellation order, whichever is later.

GSTR 11 Details of inward supplies to be furnished by a person having UIN and claiming a refund

• Due date: Monthly-28th of the month following the month for which statement is filed

Here is a detailed discussion about GSTR 1 

Person liable to furnish details of Outward Supplies

Every Registered person including casual registered person except the following:

• Input service distributor ( ISD)

• Non Resident Taxable Person (NRTP)

• Person pay tax under composition scheme

• Person deducting TDS

• Person collecting tax at source i.e e commerce operator

• A supplier of online information and database access or retrieval services ( OIDAR)

NIL GSTR1 - It can be filed through an SMS using the registered mobile number of the taxpayer.

Kind of details of Outward supplies

Invoice wise details

Consolidated details

 Debit and credit notes

Inter state and intra state supplies made to registered person

Intra state supplies made to unregistered person

Issued during the month for invoices issued previously

Inter state supplies made to unregistered person with invoice 

Inter state supplies made to unregistered person with invoice 

 

Value exceeding Rs               value upto Rs 250,000

250,000                                  for each rate of tax sep-

                                               arately for each state

Now some special points which need to understand

1. Can be uploaded anytime during the tax period and not just at the time of filling of GSTR 1 .

2. Invoices can be modified/ deleted any number of times till the submission of GSTR 1

3. The details of Outward supplies furnished by the supplier are communicate Invoices for auto populated to the respective recipient in form GSTR 2A and form GST Return 4A( in case of composition scheme)

4. These details can be updated in GSTR 2B by 13th of each month

5. If the supplier discovers any error or omission , he shall rectify the same in the tax period in which such error was noticed and pay the tax and interest.

6. Hence, maximum time limit within which such rectification is permissible is earlier of the following 2 dates:-

7. Date of filing of monthly return for the month of september following the end of F.Y to which such details pertains.

8. Date of filing of the relevant annual return.