GST Return Filing- Overview
GST Return refers to a document that comprises of taxpayer’s income/sales/and/or expense/purchase details which a taxpayer must file with the GST department. This GST Return helps the tax department to calculate the net tax liability of such taxpayer. Under GST a registered dealer needs to file returns that include purchases, Sales, Output GST (on sales and ITC (GST paid on purchases).
GST Return Filing is a mandatory requirement/compliance for every business registered under the GST Act/regime. Under GST (Goods and Services tax), filing the GST returns is a necessary activity that needs to be undertaken as a link between the government and the taxpayer.
GST returns should be filed electronically, i.e. on the GST portal. If the return is not filed within the prescribed due date then it shall attract penal provisions like late fees along with interest.
Who should File GST Return?
Just as earning individuals file income-tax returns (ITR), all business owners, dealers, traders and taxpayers registered under the GST system need to file GST returns wherein business information such as purchases, sales, tax collected, tax paid etc. are included. This procedure is carried out by filing GST return periodically by using appropriate GST return forms.
All registered businesses under GST must file monthly, quarterly, and/or annual GST Returns based on the type of business. Taxpayers running their firms and business in and across India, whether it is interstate or intrastate, must mandatorily file GST returns as prescribed by the GST council and indirect tax department.
Who should file which GST Return has been specified in the table made below:
GSTR Form |
Who files? |
GSTR-1 |
A registered taxable person |
GSTR-2 |
A registered taxable person |
GSTR-3 |
A registered taxable person |
GSTR-3B |
A registered taxable person |
CMP-08 |
Taxpayers registered as composition taxable person or taxpayer who have opted for composition levy |
GSTR-4 |
Taxpayers registered under the composition scheme |
GSTR-5 |
Non-resident foreign taxable person |
GSTR-6
|
Input Service Distributor |
GSTR-7 |
Filed by those who need to deduct TDS under GST |
GSTR-8 |
Filed by e-commerce operators |
GSTR-9 |
Taxpayers registered under GST |
GSTR-9C |
Taxpayers registered under GST |
GSTR-10
|
Taxpayer whose GST registration has been cancelled |
GSTR-11
|
Taxpayer having UIN and claiming refund |
Different types of GST Return Filing in India
There are various types of GST returns in India. The number of returns required to be filed depends on the type of taxpayer’s business activity. An exhaustive list of different types of GST returns in India along with its frequency of filing and the due date have been given in the table made below:
GSTR FORM |
DESCRIPTION OF THE FORM |
FREQUENCY OF FILING |
DUE DATE |
GSTR-1 |
Details of outward supplies of taxable goods and/or services effected. |
Monthly |
11th of the next month |
GSTR-2 |
Details of inward supplies of taxable goods and/or services effected claiming the ITC. |
Monthly |
15th of the next month |
GSTR-3 |
Return based on the finalisation of details of outward supplies & inward supplies along with the payment of tax. |
Monthly |
20th of the next month |
GSTR-3B |
Summary of outward supplies along with ITC is declared and payment of tax is effected by the taxpayer. |
Monthly |
20th of the next month |
Quarterly |
22nd or 24th of the month next to the quarter |
||
CMP-08 |
Summary of self-assessed tax payable for a given quarter by taxpayers registered as composition taxable person or a taxpayer who has opted for composition levy. |
Quarterly |
8th of the month succeeding the quarter |
GSTR-4 |
Return for those taxpayers who are registered under the composition scheme under Section 10 of the CGST Act. |
Annually |
30th of the month succeeding financial year. |
GSTR-5 |
GST Return for a non-resident foreign taxable person. |
Monthly |
20th of the next month |
GSTR-6
|
Return for input service distributor to distribute the eligible input tax credit to its branches. |
Monthly |
13th of the next month |
GSTR-7 |
Return for authorities doing tax deduction at source. |
Monthly |
10th of the next month |
GSTR-8 |
Supplies effected by e-commerce operators and the amount of tax collected at source by them. |
Monthly |
10th of the next month |
GSTR-9 |
Annual return for a normal taxpayer. |
Annually |
31st Dec of next financial year. |
GSTR-9C |
Certified reconciliation statement |
Annually |
31st Dec of next financial year. |
GSTR-10 |
Final return filed by a taxpayer whose GST registration has been cancelled. |
After the GST registration is cancelled |
Within 3 months of the date of GST cancellation or date of cancellation order, whichever is later. |
GSTR-11 |
Inward supplies details to be furnished by a taxpayer having UIN and claiming refund |
Monthly |
28th of the month after the month for which statement is filed. |
How to file a GST Return?
The following procedure can be followed to file a GST Return:
- Firstly you need to visit the GST portal- gst.gov.in;
- Ensure that you have kept ready GST compliant sales and purchase invoices while filing the GSTR;
- Login to the GST portal with valid credentials;
- Once you are logged in, click on the services and choose returns;
- A page will appear- “File Returns”. Select the financial year and the filing period for which you need to file return and click on search;
- After that you will obtain a 15 digit identification number based on your state code and PAN;
- Upload invoices and an invoice reference number would be issued against each invoice;
- Choose the return that you need to file and click on prepare online;
- Provide details as asked including the amount an late fee, in case it is applicable;
- Once all details have been filled in, click on save and a success message will be flashed on your screen;
- Click on submit to file the return;
- Once the status of your submitted GSTR changes to submitted, move ahead for payment by clicking on the payment of tax;
- Select check balance to see cash and credit balance to know these details before paying tax;
- In order to clear your liabilities, specify the amount of credit that you want to use from the credit available. Click on offset liability in order to make the payment;
- Click on “Ok” when a confirmation is displayed;
- Tick the box against the declaration and select an authorised signatory from the drop down list. Now click on the option- file form with DSC or file form with EVC and then click on proceed;
- Make payment for your respective GST form.
Downloading GST Return
One can download their GST Return directly from the GST portal. Follow the steps that are mentioned below to download the GSTR:
- Login to the GST portal by keying in your valid credentials;
- Click on the services tab from the menu;
- Choose returns dashboard under the returns option;
- Select the financial year and the GST Return Filing period from the drop down boxes;
- Click on the search button and select the return that you want to download;
- Select the download option and click on generate file;
- The generation of file will take some time, be patient;
- When the file is generated, a download link will be made available. Download the zip file containing your GSTR.
Penalty for not Filing GST Returns on time
If GST returns aren’t filed within the prescribed time, then the taxpayers would have to pay interests as well as the late fee. An interest of 18% per annum would be liable. The taxpayer can calculate the interest on the amount of outstanding tax to be paid. The time period must be from the next day of the return filing to the date of payment.
Late fee includes Rs. 100 per day per Act. Therefore, it is Rs. 100 under CGST & Rs. 100 under SGST (State Goods and Services Tax). In total, it amounts to Rs. 200 per day. The maximum amount will result to Rs. 5000. However, there’s no late fee on the Integrated Goods and Services Act (IGST).