What is GST Return?
Any business whose annual turnover exceeds the prescribed limit in a year shall apply for a GST number and after approval from the government, he is allotted GSTIN. Once a business gets GST Registration, it becomes mandatory to file GST returns on time and in a proper manner otherwise, it may cause unnecessary penalties, interest, and other problems. GST Return filing is a document containing details of sales, purchase, output tax, Input tax, and other transactions. Depending upon the nature of the business, various monthly GST Return/quarterly GST Return / annual GST returns have been introduced by the Government and every GST return have different due dates, meaning, and importance. Thus, choosing the right GST Return filing which is applicable to your business is very important.
Returns Prescribed under GST Law
| GST Return Filing |
GST Return To Be Filed By Whom |
GST Return Filing Due Date * |
| GSTR-1 / IFF (Invoice Furnishing Facility) |
GSTR 1 / IFF contains details of outward supplies of goods and services |
GSTR 1 : 11th of next month IFF: 13th of next month |
| GSTR-3B |
GSTR 3B contains details of Output tax and Input tax |
Monthly GSTR 3B Filer: 20th of next month Quarterly return filer: 22nd of month succeeding quarter |
| CMP-08 (Earlier GSTR-4, for composition-scheme taxpayers only) |
Quarterly payment of Composition tax |
Quarterly: 18th of the month succeeding the quarter |
| GSTR-5 (for non-resident taxpayers) |
GSTR 5 to be filed by non-resident taxpayers when they do not wish to claim Input Tax Credit (ITC) |
Monthly: 20th of the next month |
| GSTR-6 |
GSTR 6 to be filed by Input Service Distributors for distribution of ITC |
Monthly: 13th of the next month |
| GSTR-7 |
To declare TDS liability by the authorities deducting tax at source |
Monthly: 10th of the next month |
| GSTR-8 |
To declare Tax Collected at Source (TCS) by e-commerce operators |
Monthly: 10th of the next month |
| GSTR-9 (Annual GST Return) |
GSTR 9 to be filed by taxpayer whose aggregate turnover is more than 2 crores |
Annually: 31st December of next year |
| GSTR 9C (Reconciliation Statement) |
GSTR 9C to be filed by taxpayer whose aggregate turnover is more than 5 crores |
Annually: 31st December of next year |
| GSTR-9A |
Annual return of Composition dealer |
Annually: 31st December of next year |
| GSTR-10(Final Return) |
GSTR 10 to be filed by the taxpayers, whose GST registration has been cancelled or surrendered |
Once: 3 months from the date of cancellation or order of cancellation, whichever is later |
| GSTR-11 |
To be filed by Unique Identity Number (UIN) holders stating the supplied/received goods and services. To claim GST refund through RFD-10 |
Quarterly, not mandatory for UIN holders who did not receive any inward supplies during the quarter. 28th of the next month for which refund statement is filed |
These due dates of GST return filing may be extended by the Government from time to time.
The most commonly used returns are GSTR-1 and GSTR-3B. Let’s discuss them:
What is GSTR-1?
GSTR -1 is a statement which contains details sales, credit note, debit note, export, deemed export etc. Tax liability is not discharged while filing GSTR-1. Tax liability is discharged while filing GSTR-3B.
What is GSTR-3B?
GSTR-3B is a simple summary return that all normal taxpayers must file every month. It contains summary details of sales (domestic as well as export), Input Tax credit on purchases, liability under Reverse charge mechanism and other specified particulars.
