Each and every business should perform GST Return Filing as it is a compulsory compliance for each business. This is registered under the GST Act/regime. According to Goods and Services tax (GST), this is an essential activity to file the GST returns. GST is like a bridge between the government and the taxpayer. The taxpayer needs to give the information like business activity in detail, payment of taxes, declaration of tax liability and other important information as needed by the government.
GST returns are filled online via GST Portal. However one can file GST returns manually. In those cases, returns are made offline and then they are uploaded to GSTIN portal through a facilitation centre or the taxpayer.
Every GST registration holder who comes under tax liability under the GST Act 2017 is needed to file GST returns depending on the nature of their business. Therefore if you are involved in the selling of goods or offering services to your clients, it is important to get GST registration and also file the returns regularly. According to GST, a registered business involved in the following tasks requires to file GST return :
Purchase
Sales
ITC (Income Tax Credit) with GST paid while purchasing
Output GST (in case of sales)
If you have done GST registration but your business turnover does not reach the threshold limit of Rs. 40 lakh, then you don't need to fill GST returns. On the other hand, any business in hilly and the North Eastern regions with the turnover below Rs. 20 lakh is not needed to file GST returns.
In India, there are a number of GST return types. The number of returns needed to be filed based on the type of taxpayer :
Filing of Returns by a Normal Taxpayer
| RETURNS | PARTICULARS | DUE DATE |
| GSTR-1 | Particulars of Outward Supplies | 10th day of the next month |
| GSTR-2 | Particulars of Inward Supplies | 15th of the next month |
| GSTR-3 | Monthly return of tax payment | 20th day of the next month |
| GSTR-9 | Annual return (Turnover>2 Lacs/ Voluntary) | 31st December of the next financial year |
| GSTR-9C | Annual Audit (Turnover>2 Lacs) | 31st December of the next financial year |
Filling of Returns by a Composition Taxpayer
| RETURNS | PARTICULARS | DUE DATE |
| GSTR-4 | Quarterly Return | 18th of each month of next quarter |
| GSTR-9A | Annual Return (Turnover>2 Lacs/ Voluntary) | 31st December of next financial year |
| GSTR-9C | Annual Audit (Turnover>2 Lacs) | 31st December of the next financial year |
Additional Returns depending on the type of the Business
| RETURNS | PARTICULARS | DUE DATE | FILED BY |
| GSTR-5 | Particulars of both inward and outward supplies. Consumption of tax liability | 20th day of the next month. If is in last month, either 7 days following expiration or 20th of the next month whichever is earlier | A taxable person who is non-resident |
| GSTR-6 | Distribution of Input Tax credit | 13th day of succeeding month | Input Service Distributor |
| GSTR-7 | Details of TDS or any other related alternations | 10th of next month | Tax is deducted at source by authorities |
| GSTR-8 | Detail records of supplies effected with them | 10th of succeeding month | Tax is collected at source by e-commerce operator |
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Registered persons taxable under GST must file 3 monthly returns and 1 annual return
All the businesses that do not exceed the exempted limit, which is Rs. 2 lakhs throughout India and Rs.10 lakhs in North Eastern and hilly States, is not suitable
All those businesses exceeding this limit requires filing GST return
This must be valid, even if the unit makes no sale during a year in the type of NIL returns
A company having turnover exceeding Rs. 1.5 crore requires filing returns monthly. And if the company has turnover that exceeds Rs.1 crore then, it must be filled annually also. Below this threshold limit, a company has an option for filing it as par their needs.
Legal Name of the registered person
GSTIN
Taxable outward supplies to a registered person
Taxable outward supplies to a consumer
Aggregate turnover of previous financial year
Legal name of the registered person
GSTIN
Receipt of TDS and TCS
Inward supplies received besides those attracting reverse charge
Inward supplies where tax is pertinent on reverse charge
Turnover
Intra-state supplies
Inter-state supplies
Inward supplies attracting reverse change
Tax effect of amendments made concerning outward supplies
GSTIN
Inward supplies where tax is to be paid on reverse charge
Legal name
Corrections to details of inward supplies furnished in returns of previous periods
Consolidated statement of advances paid
GSTIN
Legal name
Imported goods
Outward supplies made
Imported services
GSTIN
Legal name
Input tax credit received for distribution
Amendments to distribution documents and debit or credit notes of previous periods
GSTIN
Legal name
TDS details
Return period
Liability- payable and paid
GSTIN
Legal name
Details of supplies made via e-commerce operator
Tax paid and payable
Details of interest
Turnover
Inter-state supplies
Intra-state supplies
Tax effect of amendments made concerning outward supplies
Inward supplies attracting reverse change
GSTIN
Legal name
Effective date of cancellation/surrender
Cancellation order date
Tax payable on closing stock
Unique Identification Number
Name of the persons having UIN
Details of the supplies
Tax period
GST return is a document that contains the details of the income of the taxpayer. This document needs to be filed with the tax authorities.
One can perform filing GST return using GST software or by availing our assisted plans for normal taxpayers, e-commerce tax plan or other taxpayers.
Following are the kinds of GST returns :
GSTR-1- For filing monthly return of the outward supplies
GSTR-2- For filing monthly return of the inward supplies
GSTR-3 - For the monthly return including the details of the taxpayers from the other forms such as GSTR-1, GSTR-2, GSTR-6, GSTR-7)
GSTR-4- For the quarterly return
GSTR-5- For the variable return needs to be filed by the non-resident taxpayer
GSTR-6- For the monthly return needs to be filed by the input service distributor
GSTR-7- For the monthly return is to be filed for the Tax Deducted at Source (TDS)
GSTR-8- For the monthly return needs to be filed by e-commerce operator
GSTR-9- For the annual return
GSTR-10- For the final return paid before finishing business operations permanently
GSTR-11- For the taxes requires to be paid by the taxpayers with a Unique Identification Number (UIN)
Yes, all e-commerce websites that permit other producers and sellers using their website should file the return using the GSTR-8. If you use your own portal, then there is no need to file this return.
The benefits or purpose to file GST return are as follows :
It is used to confirm the tax liabilities of the tax payer within the specific time
Furthermore, it offers essential inputs for taking policy decisions
Information regarding mode of transfer to tax administration
It is easier to deal with audit and anti-tax evasion tasks of tax administration
Businesses who file for GSTR-1 to 3, except casual taxpayers and taxpayers under composition scheme need to file annual return.
A big part is auto populated from GSTR-1 to the GSTR-2 but some information is to be supplied into GSTR-2 still now. Like the details of imports, details of purchases from non-registered or composition suppliers and exempt/non-GST/nil GST supplies and others.
No, but certain information from the invoices need to be uploaded.
It depends completely upon the kind of registration and transactions. Different periods are allotted for this.
Monthly returns must be filed by the regular foreign non-residents, taxpayers, tax deductors, input service provider and e-commerce operators.
Quarterly returns require to be filed by the composition taxpayers.
No, the return forms are general for all the three. However there is a separate column in each which one requires filing depending on the inter-state and intra-state supply.
R-5 is required to be furnished for a non-resident taxable assessee. These are the suppliers that came for a short while for making supplies in India. But they don't have a business enterprise in the country. The significant headlines for GSTR-5 are as follows :
GSTIN
Imported services
Imported goods
Details of debit credit notes
Outward supplies made
