GST return forms- Different types of GST returns in India

GST return forms- Different types of GST returns in India
12 min read

What is the Goods and Services Tax (GST)?

The goods and services tax (GST), a value-added tax, is levied on the majority of goods and services that are offered for domestic use. Although businesses that provide goods and services are also required to pay the GST to the government, it is an indirect tax that consumers must pay. In reality, the GST produces revenue for the government through the filing of numerous GST Returns.

What does a GST return ?

Various entities must file the tax return forms known as GST returns to the Indian Income Tax authorities.

A GST Return Form must include details about all purchases, sales, output GST (on sales), and input tax credit (GST paid on purchases) in order to calculate the assessee’s GST owed for a particular tax period.

Depending on the multiple pertinent factors, current GST returns can be filed on a monthly, quarterly, or annual basis and come in a variety of formats. The following list of categories for GST filing forms:

1. GSTR 1

GSTR 1 has a record of all sales. During the reporting month, the suppliers will be expected to use this form to report their outbound supplies. By the 11th of the next month, all registered taxpayers are normally required to file their taxes.

Who is required to submit GSTR 1?

  • Every registered taxpayer is required to submit a GSTR 1 form each month.
  • If the taxpayer’s total annual revenue exceeds INR 1.5 crores, he may file on a quarterly basis.

GSTR 1 Due Date: On a monthly basis, the 11th of the next month.

2. GSTR 2

A regular dealer is required to fill out Form GSTR-2 for each inward supply made throughout the month. The standard requirement is that all incoming supply from registered businesses, including those for which reverse charge tax must be paid, must be recorded at the invoice level.

In addition to inbound supplies, information on advances paid on supplies subject to reverse charge and the advance amount for which tax was paid in a previous return period but the invoice was received in the most recent reporting period must be disclosed.

Remember that the GST Council suspended the GSTR-2 purchase return at its 23rd meeting due to the convoluted form structure.

3. GSTR 2A

The receiver can obtain all the incoming supplies that your provider revealed on GSTR-1 through GSTR-2A, an automatically created statement. The data will be made accessible upon the return’s Portal submission. The information from GSTR-5 (Supplies from Non-resident Taxable Person), GSTR-6 (ISD), GSTR-7 (TDS Deductor), and GSTR-8 (TCS collected by e-commerce operator) will also be included in the auto-populating data in addition to the information from GSTR-1.

The GSTR 2A form must be submitted by whom?

It is an automatically filled-out form.

4. GSTR 3

A combined monthly report called the GSTR-3 contains data on tax liabilities, tax collected on exiting goods, and tax paid by registered people on entering supplies. The process is automatically filled out using the GSTR-1 and GSTR-2 of the registered person. With little to no operator intervention, the system would be updating records.

Be informed that due to the form’s complex structure, the GST Council stopped the GSTR-3, or input-output return, during its 23rd meeting.

5. GSTR 3B

The GSTR-3B monthly self-declaration must be submitted by a registered merchant. The return’s goal is for taxpayers to declare their total unpaid GST liabilities for the tax period and to immediately discharge those liabilities. It is a streamlined summary return of inward and outward supplies.

Who is required to submit GSTR 3?

Even for Nil returns, everyone who registered for GST is required to file the GSTR-3B return.

GSTR 3B Due date: The 20th day of every month for businesses with sales of at least Rs. 5 crore. For taxpayers with smaller sales, the due date would be either the 22nd or 24th day of the month, depending on the state from where they are filing.

5. GSTR 4 / GST Form CMP 08

Composition vendors are CMP 08 registered taxpayers who have enrolled in the composition system and who are required to submit GSTR-4 once every three months. The Composition Scheme allows taxpayers with reported income up to Rs. 1.5 crores to opt in and pay taxes on that income at a fixed rate. The former GSTR 4 has been replaced by Form GST CMP08. Information about imports and exports, including the taxes paid on those imports and exports as well as the interest owed, is requested on the CMP-08 statement cum challan.

Starting CMP-08 in April 2019 was a wise decision. A CMP-08 return must be filed every quarter.

Who must submit the CMP-08 (GSTR-4) form?

Tax payers who opted for the composition plan

The CMP 08 form must be filed by the 18th of the following month, on a quarterly basis.

6. GSTR 5

The GSTR-5 form must be submitted by any registered non-resident taxpayer who is required to submit a monthly return through the GST Portal. Suppliers who have been to India for business purposes but do not have a permanent place of business are regarded as non-resident taxable individuals.

Who must file Form GSTR 5?

The 20th of the following month is the due date for each non-resident taxpayer who has enrolled for GSTR 5 on a monthly basis.

7. GSTR 6

Businesses that are also input service distributors must submit Goods and Services Tax Return 6 each month. This report must detail the inbound supplies obtained from and outbound purchases made from other registered taxpayers (B2B), as well as how input tax credits were distributed among the company’s branches.

Who is required to submit GSTR 6?

By each and every Input Services Provider

GSTR 6 Due on the 13th of the following month.

8. GSTR 7

Taxpayers who deduct tax from payments they make to vendors or suppliers for the inward supplies they have received must file the GSTR 7 form or statement. Your return must include all the details of the transactions from which TDS was subtracted, as well as a detailed list of your suppliers.

Who must submit a GSTR 7?

every enrolled taxpayer who withholds tax from payments.

GSTR 7 The 10th of each month is the deadline.

9. GSTR 8

Every month, e-commerce businesses must submit GSTR 8 statements. It must detail the supplies made to customers through the taxpayer’s e-commerce site by both registered taxable people and unregistered individuals, as well as the basic information about the customers and the total amount of tax collected at source (TCS), tax payable, and tax paid.

Who is required to submit GSTR 8?

By e-commerce businesses owners

GSTR 8 is due on the tenth of the following month.

10. GSTR 9

Every taxpayer who has registered for GST is required to submit their yearly returns in a certain manner. That form is known as the GSTR 9. GSTR-9 contains details on the supplies made and received throughout the year under the different tax heads, CGST, SGST, and IGST. The information presented in the monthly/quarterly returns for the particular year is compiled. GSTR 9 is no exception to the tax agency’s stringent compliance with any legal infractions. If the taxpayer files GSTR 9 late or not at all, they may be subject to severe penalties.

The deadline for submitting the GSTR-9 is December 31 of the preceding year. For ex, December 31, 2018, for the fiscal year 2017–18.

Who must submit a GSTR 9?

Regular taxpayers who file GSTRs 1, 2, 3, and 3B during the fiscal year are required to submit this form.

GSTR 9 is due on December 31 of the next calendar year. Annually.

11. GSTR 9A

The GSTR-9A is a simplified annual return that business owners who have selected the GST composition plan must submit. Each and every quarterly return that the compounding dealers filed during that fiscal year is included in this form.

Who is required to submit GSTR 9A?

Those taxpayers who choose the composition plan.

GSTR 9A Due date: December 31 of the following calendar year Annually.

12. GSTR 9B

GSTR-9B is a summary of the data that taxpayers who are registered as GST E-commerce firms have supplied in GSTR-8.

Who is required to file GSTR 9B?

To be submitted by an online store owner.

13. GSTR 9C

GSTR 9C is a statement of reconciliation between the information from the taxpayer’s annual returns filed in GSTR 9 for a specific fiscal year and the data from its audited financial statements. Registered taxpayers must submit the GSTR-9C return form if their aggregate income exceeds Rs. 2 crores. Reconciliation statements that compare the value of the supplies mentioned in the return supplied for the financial year to those declared in the contested case must also be submitted, together with a copy of the taxpayer’s audited annual accounts.

Who is required to submit GSTR 9C?

Taxpayers who are enrolled and whose aggregate income is greater than Rs.

Individuals who are subject to an audit under Section 35 of the CGST Act

GSTR 9C due date: 31st December of next financial year.

14. GSTR 10

GSTR 10 and the Annual GST Return are not the same. It is always provided as the last GST return. A registered taxpayer must file this return within three months of the cancellation date or the day the cancellation order was authorized if they decide to renounce their GST registration.

A taxpayer who wants to cancel their GST registration must complete form GSTR 10.

GSTR 10 The payment is required within three months of the date of cancellation or the date of the cancellation order, whichever is later, when the registration is cancelled or turned in.

15. GSTR 11

Every Unique Identification Number (UIN)-holding registered firm or individual is only needed to submit a Goods and Services Tax Return 11 during the months in which they make purchases for their own use and are eligible to get a tax credit or refund.

Who is required to submit GSTR 11?

Each Unique Identity Number (UIN) holder is obliged to submit a GSTR-11 return.

The 28th of the month after the month in which the statement is filed is the deadline for GSTR 11 on a monthly basis.

After-the-deadline GST return filing penalties

The rules for the GST late filing penalty are as follows:

  • A person is late with information on supplies coming in or going out, with a monthly return, or with a final return. GST late reporting fines range from INR 100 to INR 5,000, depending on how long the error continues uncorrected.
  • Failure to file the annual report by the due date: The GST late filing penalty is INR 100 every day that the failure continues, up to a maximum of 25 percent of the person’s income in the state where he is registered.

Interest on late filing of GST Return

The following details have been published for the GST late payment penalty, even if the interest rates for the linked offenders’ GST fines have not yet been disclosed:

  • A tax-payer who ought to have paid their taxes fails to: The GST payment regulations state that interest on taxes owed will be calculated as of the first day the taxes were due to be paid.
  • An excessive or unauthorised claim for input tax credits or a decrease in output tax liabilities are made by the individual.
  • Interest on the amount owed will be added to the receiver’s liabilities if the service recipient does not pay the service provider within three months of the date the supplier sent the invoice for the service, along with any relevant tax.
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