GST is the single indirect tax that is levied on the supply of goods and services between different entities. GST returns are the income tax return forms that are required to be filed by these entities with the tax authorities of India.

All individuals registered under the GST Act need to furnish the main points of the sales and purchases of products and services along side the tax collected and paid. This can be done by filing online returns. GST Returns are the products and Services tax return forms that taxpayers of all kinds need to file with the income tax authorities of India under the new GST rules.

Implementation of a comprehensive tax system like GST in India will make sure that taxpayer services like registration, returns, and compliance are thin and easy. Individual taxpayers are going to be using 4 forms for filing their returns like the return for supplies, return for purchases, monthly returns, and annual return. Small taxpayers who have opted for composition scheme will need to file quarterly returns. All filing of returns will be done online.

How to File GST Returns Online?

From manufacturers and suppliers to dealers and consumers, all taxpayers need to file their tax returns with the GST department per annum . Under the new GST administration, filing tax returns has become automated. GST returns will be filed online using the software or apps provided by Goods and service Tax Network (GSTN) which can auto-populate the main points on each GSTR forms. Here are some steps for filing GST returns online:

  • Visit the GST portal (www.gst.gov.in).
  • A 15-digit GST number are issued depend on your state code and PAN number.
  • Upload statement on the GST portal or the software. An invoice reference number are issued against each invoice.
  • After uploading invoices, outward return, inward return, and cumulative monthly return need to be filed online. If there are any errors, you’ve got the choice to correct it and refile the returns.
  • File the outward supply returns in GSTR-1 form through the data section at the GST Common Portal (GSTN) on or before 10th of the subsequent month.
  • Details of outward supplies furnished by the supplier are made available in GSTR-2A to the recipient.
  • Recipient needs to verify, validate, and modify the main points of outward supplies, and also file details of credit or debit notes.
  • Recipient has got to furnish the main points of inward supplies of taxable goods and services in GSTR-2 form.
  • The supplier can either accept or reject the modifications of the main points of inward supplies made available by the recipient in GSTR-1A.

Different Standards of Returns applicable under the new GST Law

Return form Who should file the tax return and what should be filed? Due date for filing returns
GSTR-1 Registered taxable supplier should file details of outward supplies of taxable products and services as effected. 10th of the following month.
GSTR-2 Registered taxable recipient should file details of inward supplies of taxable goods and services claiming input tax reduction. 15th of the following month.
GSTR-3 Registered taxable person should file monthly return on the idea of finalization of details of outward supplies and inward supplies plus the payment of amount of tax. 20th of the following month.
GSTR-4 Composition supplier should file quarterly return. 18th of the month succeeding quarter.
GSTR-5 Return for non-resident taxable person. 20th of the following month.
GSTR-6 Return for input service distributor. 13th of the following month.
GSTR-7 Return for authorities completing tax write-off at source. 10th of the following month.
GSTR-8 E-commerce operator or taxman should file details of supplies effected and therefore the amount of tax collected. 10th of the following month.
GSTR-9 Registered taxable person should file annual return. 31 December of subsequent financial year .
GSTR-10 Taxable person whose registration has been rejected or cancelled should file final return. Within 3 months of date of cancellation or date of cancellation order, whichever is later.
GSTR-11 Person having UIN claiming rebate should file details of inward supplies. 28th of the month, following the month that the statement was filed.

Various kinds of GST return Forms

GST return are often filed using different forms looking on the sort of transaction and registration of the taxpayer. Return forms for normal taxpayers are:

GSTR-1

GSTR-1 return form must be filed by a registered taxable supplier with details of the outward supplies of products and services. This form is filled by the supplier. The buyer must validate the auto-populated purchase information on the style and make modifications if required. The form will contain the following details:

  • Business name, period that the return is register, Goods and Services Taxpayer identification number (GSTIN).
  • Invoices issued within the previous month and therefore the corresponding taxes collected.
  • Advances received against a supply order that must be delivered within the future.
  • Revision in outward sales statement from the previous tax periods.

GSTR-1 must be filed by 10th of the subsequent month.

GSTR-2

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

  • Business name, period that the return is register, Goods and Services Tax identification number (GSTIN).
  • Invoices issued within the previous month and therefore the corresponding taxes collected.
  • Advances received against a supply order that must be delivered within the future.
  • Revision in outward sales statement from the previous tax periods.

GSTR-2 has to be filed by 15th of the following month.

GSTR-3

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

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

GSTR-3 must be filed by 20th of the following month.

GSTR-4

GSTR-4 return form must be filed by taxpayers who have opted for the Composition Scheme. Taxpayers with small work or a turnover of up to Rs.75 lakh can choose the Composition Scheme wherein he or she need to pay tax at a fixed rate based on the type of business. Taxpayers under this scheme won’t have input tax reduction facility. GSTR-4 quarterly return form will contain the subsequent details:

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

GSTR-4 has got to be filed by 18th of the subsequent month.

GSTR-5

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

  • Name and address of the taxpayer, GSTIN, and age of return.
  • Details of outward supplies and inward supplies.
  • Details of products 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 products , and refund claimed from cash ledger.

GSTR-5 has got to be filed by 20th of the subsequent month.

GSTR-6

GSTR-6 return form must 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 age of return.
  • Details of input credit distributed.
  • Supplies received from registered persons.
  • The amount of input credit availed under the present tax period.
  • Details of inward supplies are auto-populated from GSTR-1 and GSTR-5 return forms.
  • Details of the receiver of input credit like his or her GSTIN.
  • Details of credit or debit notes.
  • Input tax reduction received, input tax reduction reverted, and input tax reduction distributed as SGST, CGST, and IGST.

GSTR-6 should be filed by 13th of the subsequent month.

GSTR-7

GSTR-7 return form must 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 age of return.
  • TDS details and amendments in statement amount, TDS amount or contract details.
  • TDS liability will be auto-populated. Details of fees for late filing of return and interest on late payment of TDS.
  • Refund received from Electronic Cash Ledger are auto-populated.

GSTR-7 must be filed by 10th of the subsequent month.

GSTR-8

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

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

GSTR-8 must be filed by 10th of the subsequent month.

GSTR-9

GSTR-9 return form is filed by normal taxpayers with particulars of all income and expenditure for the year. This detail are regrouped in accordance with the monthly returns. The taxpayer will have the chance to form modifications with the information provided if required. GSTR-9 must be filed by 31st December of the subsequent fiscal year along side the audited copies of the annual accounts.

GSTR-10

GSTR-10 return form must 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 receivable on closing stock.

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

GSTR- 11

GSTR-11 return form must 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 govt entity, UIN, and period of return.
  • All inward purchases from GST registered supplier are auto-populated.

Based on the above mentioned details, the tax refund will be made. GSTR-11 form must be filed on 28th of the month, following the month that supply was received.

File GST return with GSTN

The products and services Tax Network will gather all the information of all GST registered buyers and sellers, combine the submitted details, and maintain registers for further reference. Companies need to file 3 monthly returns every 3 months and one annual return during a fiscal year (37 returns in total). GSTN has launched an easy excel based template to form filing of returns easier for businesses. This excel workbook are often downloaded from the GST common portal free of charge. Taxpayers can use this template to collate invoice data on a daily basis. The details of inward and outward supplies are often uploaded on the GST portal on or before the maturity . The data preparation can be done offline. Only while installing the prepared file on the GST portal will the taxpayer need Internet.

Penalty for late filing of returns

A penalty are levied on the taxpayer just in case he/she fails to file the returns on time. 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 entire fine amount are going to be Rs.200 per day. However, this rate is subject to changes which can be announced through notifications. The maximum amount of fine which will be levied is Rs.5,000. Integrated GST or IGST doesn’t attract any late fee just in case the return filing is delayed. The taxpayer also will be required to pay an interest at the speed of 18% p.a. in addition to the late fee. This interest has got to be calculated by the taxpayer on the quantity of tax that’s to be paid. The period of time are going to be calculated from the day following the filing deadline till the date when the particular payment is formed .

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