GST Return Filing

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GST Return Filing

Goods and Service Tax came into effect from 1st July, 2017. GST is the most buzzing word all over the country since it came into existence. GST Registration is being applicable to specified entities having certain criteria. Once you get the GST Registration it becomes mandatory to file the GST Return and follow the compliances.

GST returns is a document in which every registered dealer provide the required details to concerned Tax Authorities in a set format prescribed by the Government. It contains various details regarding total turnover, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax) of supplier under Goods and Services Act etc.

These GST returns are required to be filed in a prescribed format and in a prescribed time frame because as we know GST reduces the cascading effect of Tax in a chain so the returns are also to be filed properly by every dealer in that chain so that the tax authorities can reconcile the transaction timely and provide the GST credit to each authorized dealer timely.

Types of Dealers and Returns

S.no	Type of Dealer	Applicable GST Return	Particulars
1.	Regular Dealer	GSTR-1	Details of outward supplies of taxable goods and/or services or Sales transaction in a tax period to registered and unregistered dealers. To be filed monthly by taxpayers having the total annual turnover above 1.5 crores else to be filed quarterly by rest taxpayers.
		GSTR-2A	Details of inward supplies of taxable goods and/or services from a registered dealer during a tax period in an auto populated format. Details filled in GSTR1 will be shown in GSTR 2A to respective dealers.
		GSTR 2	This is the return used for reporting the purchases during the tax period and inputs will be taken from GST 2A , however this return can be edited likewise for purchase return and submitted monthly. This return is suspended since application of GST.
		GSTR-3B	This is the most useful and popular GST return since the inception of GST in India. Self-Explanatory Return in which summary of outward supplies along with Input Tax Credit is declared and payment of tax is affected by taxpayer.
		GSTR 9	This is also called as Annual return of GST. It contains all the business transactions during an accounting year consolidating the data of all GST returns filed during the year. It a compilation of whole data in one place i.e. all the sales and purchase transactions made and taxability under the respective heads i.e. IGST, CGST and SGST. This also contains any amendments or adjustments made in returns showing the overall picture of GST on business.
		GSTR 9C	This form is applicable on auditable entities under GST. This statement filed by the company having turnover more than 2 crores and auditable under Income tax Act 1961. This is reconciliation between the turnover filed under 2 Acts.
		GSTR 10	This statement is called as Final return in GST. This Final return has to be filed compulsorily within 3 months from the date of cancellation of GSTN. It means this return is to be filed only on the event of cancellation or surrender of GSTN. This contains information about the closing stock held on that GSTN , the GST will be calculated on closing stock and tax will be paid and that statement must be certified by a CA in practice.
2.	Composition Dealer	GSTR-4/CMP-08	Return for a taxpayer registered under the composition levy, the dealers who opted for composition scheme having a turnover less than 1.5 crores and to be filed quarterly.
		GSTR 9A	This is the form of Annual return of the composition dealers. This form contains all the data from quarterly returns filed by the taxpayers.
3	Tax Deductors	GSTR 7	Monthly TDS Return filed by the taxpayers required to deduct TDS and paid off the liability. Mostly Govt Departments have taken this Reg in order to deduct the TDS of suppliers on tender amount and provide them TDS certificate in Form 7A.
4	Input Service Distributors	GSTR 6	Monthly Returns to be filed by Input Service Distributor (ISD) in order to distribute the Credits received. It contains all the information regarding the manner of credit received and distributed.
5	E-Commerce Operators	GSTR 8	Monthly returns to be filed by the E-Commerce operators required to deduct TCS of the dealers operating on online platform. TCS@1% to be deduct on supplies made through the given platform.
		GSTR 9B	Annual Return for the E-Commerce dealers who deduct the TCS of dealers for ex. Amazon. In this statement they are required to file the total outward supplies from their platform during the year less the supplies returned and total TCS collected from the dealers on their respective GSTN.
6	UN Bodies/Embassy	GSTR 11	This is a special type of return for some specified class of persons who are not liable for tax in Indian law exp. Foreign diplomats and foreign embassies. They are allocated a Unique Idenfication No. (UIN) on registration, with this UIN they are eligible to claim the refund of GST paid by them in India. This statement contains all the inwards supplies received and GST refund claimed on that.
7	Non-Resident Taxpayers	GSTR 5	All the foreign nationals who are doing business in India and did not get a permanent establishment here are eligible for a temporary registration under GST. For the tenure they did business in India they are liable to file a GST return in form GSTR 5 containing all the supplies sold and purchased during the time in India.

Steps Involved in GST Filing in India

The process for filing Income Tax in India involves simple three steps…

Send us documents

Send us required documents as applicable for your particular category. Also, you can connect with us for brief of documents requirements.

Review by CA

Based on documents, Our CA will prepare GST Return, We will send GST Return Copy for your review purpose. If you found in-line you can approve for filing.

GST Filing Done

After that, Our Another Senior CA will check the GST and Process for Online GST Filing. We will Provide GST Final Copy

GST Calender

S.no	GST Return	Due Date	Penalties
1.	GSTR-1	11^th of next month (Turnover above 1.5 crores) Last day of month of succeeding quarter (turnover up to 1.5 crores)	Rs.200 per day ( 100 per day for CGST and 100 per day for SGST)
2.	GSTR-2A	Auto Populated ( No need to file.)	Nil
3.	GSTR-3B	20^th 22^nd 24^th of next month (Dates as per states)	Rs.100 per day ( 50 per day for CGST and 50 per day for SGST) max to 10000 for a month.
4.	GSTR-4/CMP-08	18^th of month of succeeding quarter	Rs.100 per day ( 50 per day for CGST and 50 per day for SGST) max to 10000 for a month.
5.	GSTR-5	20^th of next month	Rs.200 per day ( 100 per day for CGST and 100 per day for SGST)
6.	GSTR 6	13^th of succeeding month	Rs.100 per day ( 50 per day for CGST and 50 per day for SGST) max to 10,000 for a month.
7.	GSTR 7	10^th of succeeding month	Rs.200 per day ( 100 per day for CGST and 100 per day for SGST)
8.	GSTR 8	10^th of succeeding month	Rs.200 per day ( 100 per day for CGST and 100 per day for SGST)
9.	GSTR-9	31^st of December of next financial year	Rs.200 per day ( 100 per day for CGST and 100 per day for SGST) Max- 0.50% of total turnover.
10.	GSTR-9A	31^st of December of next financial year	Rs.200 per day ( 100 per day for CGST and 100 per day for SGST) Max- 0.50% of total turnover.
11.	GSTR-10	Within 3 months of dates of cancellation or order whichever is earlier	Rs.100 per day ( 50 per day for CGST and 50 per day for SGST) Max to 10,000.

*These dates are subject to change according to the official notification from central Government

* In case of Nil return the penalty will reduce to Rs 20 as per CGST and Rs20 as per SGST.

Timeline for GST Return Filing in India

It takes 1 to 2 working days (approx.) to complete GST Return filing procedure. Timeline may vary depending on availability of documents from clientside.

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