Returns under Goods and Services Tax (GST) can be defined as a document or form in which the details related to income and its sources are being reported. GST Returns are required by the tax authorities for calculation of tax liability pertaining to a business.
GST Returns require your business details of
The filing of GST Returns has manifold importance,such as
For Return Filer
The basic steps involved in filing of GST returns include:
GST Returns can be filed online using any of the below mentioned methods:
Yes, non filing or delayed filing of GST Returns can attract you
Furnishing of GST return with incomplete or wrong information can attract a penalty upto Rs 25,000. CBIS has issued circular no 89/80/2019-GST dt 18/02/2019 in this regards.
The various GST returns prescribed under the GST include:
| Form | Who is Required to file? | Particulars | Due Date |
|---|---|---|---|
| GSTR-1 | Registered Person | Monthly statement of Outward Supplies of goods or services or both | 11th of the following month of the tax period |
| GSTR-2 (Suspended) | Suspended | Monthly return form used to give the details of inward supply or purchases | 15th of next month of the tax period |
| GSTR-3B | Registered Person | Monthly summary return to declare the GST liability for the tax period and to pay off such liability | 20th of the following month for which the return is to be submitted |
| GSTR-4 | Taxpayer who opted for Composition Scheme | A yearly return is for the taxpayers who opted for paying tax under the composition scheme | 30th April of the next financial year |
| GSTR-5 | Non Resident Taxable Person (NRTP) | Return for Non- Resident Taxpayer who are not availing Input Tax Credit (ITC) on local purchases | Registration period < 1 month, the due date is within 7 days of the expiry of registration, or Registration Period> 1 month, the due date is 20th of the following month and for remaining period is 7 days of the expiry of registration |
| GSTR-5A | Taxpayer providing OIDAR services | Monthly return for Online Information and Database Access or Retrieval (OIDAR) services provider, providing services from place outside India to un-registered person or customers in India | 20th of the following month |
| GSTR-6 | Input Service Distributor (ISD) | Monthly return for the Input Service Distributor for distribution of its credit among the different unit | 13th of the following month of the tax period |
| GSTR-7 | TDS Deductor | Monthly return for the person who deducts tax at the time of making payment to suppliers (TDS) u/s 51 of CGST Act 2017 | 10th of the next month |
| GSTR-8 | E Commerce Operator | Monthly return containing the details of taxable supplies and the amount collected by the E-Commerce Operator related to the supplies and amount of TCS collected | 10th of the following month of the tax period |
| GSTR-9 | Registered Taxpayer | Annual return containing information such as purchases, sales, input tax credit or refund claimed, etc. by the regular taxpayer | 31st December of the subsequent financial year |
| GSTR-9A | Taxpayer who opted for Composition Scheme | Annual return for taxpayer opted for composition scheme | 31st December of next financial year |
| GSTR-9C | Regular Taxpayer | An additional annual return submitted along with GSTR-9 by assessee having turnover more than Rs. 2 crores during the financial year | 31st December of the year subsequent |
| GSTR-10 | Taxpayer whose registration got canceled or surrendered | The taxpayer whose registration got canceled or surrendered, Final Return | Date of order of cancellation, or Within 3 months from the date of cancellation, Whichever is later. |
| GSTR-11 | UIN Holder Taxpayer | Return having details of inward supply of goods or services or both, for an assessee who has been assigned with the Unique Identification Number (UIN) and claiming a refund | 28th of the following month in which the UIN holders receive the inward supply |
| Turnover Limit (in a FY) | GSTR 1 Periodicity |
|---|---|
| Up to Rs. 1.5 crores | Quarterly |
| Exceeding Rs 1.5 crores | Monthly |
Assessee could opt for quarterly filing of this return if the turnover in the preceding financial year were and expect that turnover in the current financial year would also be up to Rs. 1.5 crores. The due dates for filing GSTR-1 as notified by CBIC for the tax period is 11th of the following month, e.g.
| Period | Due Date |
|---|---|
| April 2019 | 11th May 2019 |
| May 2019 | 11th June 2019 |
| June 2019 | 11th July 2019 |
| April – June 2019 (quarterly) | 31st July 2019 |
Since GST is altogether a new taxation regime in India it has witnessed frequent due date extension form the very inception. Hence we compiled a list of all important extended due dates which you should take note of in the near future.
| Return Form | Who needs to file | Due Date |
|---|---|---|
| GSTR 1 (Monthly) | Registered Taxpayer (aggregate turnover exceeding Rs 1.5 cr) | 11.10.2019 (for Sep 2019) |
| GSTR 1 (Quarterly) | Registered Taxpayer (aggregate turnover upto Rs 1.5 cr) | 31.10.2019 (for July - Sep 2019) |
| GSTR 3B | Registered Taxpayer | 20.10.2019 (for Sep 2019) |
| GSTR 9 | Registered Taxpayer | 30.11.2019 |
| GSTR 9A | Taxpayer who opted for Composition Scheme | 30.11.2019 |
| GSTR 9C | Regular Taxpayer | 30.11.2019 |
Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2Win.in. Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.
