GST Returns

ABOUT GST RETURN

A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability.

Under GST, a registered dealer has to file GST returns that include:

  • Purchases
  • Sales
  • Output GST (On sales)
  • Input tax credit (GST paid on purchases)

To file GST returns, GST compliant sales and purchase invoices are required. You can generate GST compliant invoices for free on Clear Tax Bill Book.

TYPE OF GST RETURN

Return Form Particulars Interval Due Date
GSTR-1 Details of outward supplies of taxable goods and/or services affected from July 2018 to March 2019 ( Taxpayers whose turnover is more than Rs. 1.5 Crores in previous year) Monthly* 11th of the next month**
GSTR-2 Details of inward supplies of taxable goods and/or services effected claiming input tax credit. Monthly* 15th of the next month
(Suspended now )
GSTR-3 Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of amount of tax. Monthly* 20th of the next month
GSTR-9 Annual Return Annually* 31st December of next financial year
GSTR-3B Return for the months of up to March 2019 Monthly 20th of the next month

A DEALER OPTING FOR COMPOSITION SCHEME

Return Form Particulars Interval Due Date
GSTR-4 Return for compounding taxable person Quarterly 18th of the month succeeding quarter**
GSTR-9A Annual Return Monthly* 31st December of next financial year

RETURNS TO BE FILED BY CERTAIN SPECIFIC REGISTERED DEALERS

Return Form Particulars Interval Due Date
GSTR-5 Return for Non-Resident foreign taxable person Monthly 20th of the next month***
GSTR-5A Return for Non-resident persons providing OIDAR services Monthly* 20th of the next month***
GSTR-6 Return for Input Service Distributor Monthly* 13th of the next month***
GSTR-7 Return for authorities deducting tax at source. Monthly* 10th of the next month
GSTR-8 Details of supplies effected through e-commerce operator and the amount of tax collected Monthly* 10th of the next month
GSTR-10 Final Return Once. When registration is cancelled or surrendered Within three months of the date of cancellation or date of cancellation order, whichever is later.
GSTR-11 Details of inward supplies to be furnished by a person having UIN and claiming refund Monthly 28th of the month following the month for which statement is filed

BENEFITS

  • Removing cascading tax effect
  • Higher threshold for registration
  • Composition scheme for small businesses
  • Simpler online procedure under GST
  • Lesser number of compliances
  • Regulating the unorganized sector
  • Defined treatment of E-Commerce
  • Increased efficiency of logistics.

FAQ'S

A return is a statement of financial activity by a taxable person for a prescribed period. This allows a taxable person to self-assess the tax they owe for that period.

Every registered taxable person is required to file returns under the GST law. If you have not performed any business activities during the period covered by a return, you need to file a Nil return.

There are some entities that will need to register for GST but aren’t required to file returns regularly, such as UN bodies (and foreign consulates) must register for a unique GST ID, but they are required to file returns only for months during which they make purchases.

Some entities do not need to register or file returns. Government entities and Public Sector Undertakings (PSUs), entities dealing with non-GST supplies, and those who deal with exempted/Nil rated/non GST goods and/or services will neither be required to register under the GST nor file returns.

Yes, you are allowed to make corrections. As a registered taxpayer, you are legally bound to file the details of every modification made to the return data to the GSTN either through an amendment form (if the edit was made before 17th of the following) or using the amendment sections under the next month’s tax return (if the edit was made after 17th of the following month). This is because modifications to invoices and other documents can result in a mismatch between your data and the data held by your customer or vendor and this will lead to litigation. Hence, by declaring the details of all edits made by you, you stay true to the law.

If e-sign does not work, you can always file a GST return using other methods which involve an OTP from your registered phone number, your PAN information and a DSC.

 

Yes, an OTP is required at every stage of the filing process: whether it’s for pushing data into GSTN, reconciling uncategorised transactions from GSTN, or for filing GST returns. Every OTP sent to the registered phone number is valid only for 10mins. That said, if you are filing your GST returns through a GST filing software, the life of your OTP gets extended.

Upon entering the OTP for the very first time inside the filing software, the network will authenticate the OTP and provide a token to the application which will allow you to carry out your filing operation uninterrupted for 6-12hrs (until the token expires).

Technically, you need the PAN and DSC of the registered person along with an OTP that will be sent by the GSTN to the registered person’s phone while filing GST returns. Hence it is better if the business owner is made aware before you initiate the filing process.

Before we dive into GST returns, let us first try to understand who a Non-Resident taxpayer is. A Non-Resident taxpayer is a taxable person who occasionally undertakes transactions involving supply of goods and/or services but who has no fixed place of business in India.

Non-Resident taxpayers are required to file the GSTR-5 for their registered period (which can range from days to weeks to months). This return has to be filed within a period of 7 days after the expiry date of the registration. If the registered period is more than a month, then this return has to be filed every month for the remainder of the registered period.