In this guide, we will be covering the following topics related to GST Return filing:

  1. What is a GST Return?
  2. Who should be filing GST Returns?
  3. What are the different type of GST Returns?
  4. What is the late fee for not filing GST Returns on time?

What is a GST Return?

The GST(Goods and Service Tax) return is a document that is required to be filled by a tax payer. The return file document consists of details like:

  • Sales
  • Purchases
  • Tax collected on sales (output tax), and 
  • Tax paid on purchases (input tax).

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Who should be filing GST Returns?

All business owners and dealers who conduct their businesses by registering under the GST system must file three monthly returns and one annual return. This totals to 37 GST returns in a year. 

In GST regime, a business owner has to manually enter details of one monthly return, i.e. GSTR-1. The details of GSTR 2 & 3 gets auto-populated by using the information from GSTR-1 filed by the business owners and their vendors.

What are the different type of GST Returns?

Following is a list of all the returns to be filed as prescribed under the Goods and Service Tax law:

For Regular Business

GSTR-1

Interval: Monthly
Particulars: Affected from July 18 to March 19. Details of outward supplies of taxable goods and/or services provided affected. (Taxpayers whose turnover is more than Rs. 1.5 Crores in previous year)

GSTR-2

Interval: Monthly
Particulars: Details of inward supplies of taxable goods and/or services claiming input tax credit. 

GSTR-3

Interval: Monthly
Particulars: Monthly return on the basis of finalization of details of inward supplies and outward supplies along with the payment of amount of tax.

GSTR-9

Interval: Annually
Particulars: Annual consolidated tax return containing the taxpayer’s income and expenditure in detail.

GSTR-3B

Interval: Monthly
Particulars: Return for the months of up to March 2019.

For dealers opting for composition scheme

GSTR-4

Interval: Quarterly
Particulars: Return for compounding taxable person that contains the total value of supply made during the period with the details of the tax paid at the compounding rate.

GSTR-9A 

Interval: Annual Return
Particulars: Consolidated annual return that includes all the quarterly returns filed in that particular financial year

For certain specific registered dealers

GSTR-5

Interval: Monthly
Particulars: Return for Non-Resident foreign taxable person. It contains the details of the taxpayer, period of return and invoice details of all goods and services sold and purchased 

GSTR-5A

Interval: Monthly
Particulars: Return for Non-resident persons providing OIDAR services.

GSTR-6

Interval:  Monthly
Particulars: Return for Input Service Distributor(ISDs)

GSTR-7

Interval: Monthly
Particulars
: Return to be filed by the tax deductor about tax deducted at source. Deductor is required to file the return and has to provide the detail of amount of TDS in his return.

GSTR-8

Interval: Monthly
Particulars: Details of supplies effected through e-commerce operator and the amount of tax collected

GSTR-10

Interval: Once
Particulars: Final Return to be filed when terminating business activities permanently/cancelling GST registration. It will contain the details of all supplies, liabilities, tax collected, tax payable, etc

GSTR-11

Interval: Monthly
Particulars: Details of inward supplies to be furnished by a person having UIN and claiming refund Monthly

What is the late fee for not filing GST Returns on time?

All the registered tax payers are to file GST returns mandatorily before the due date. If it i not filed within time, they will be liable to pay interest and a late fee.

The late fee is Rs. 100 per day per Act. Under CGST it is 100 & under SGST it is Rs.100, amounting to Rs.200/day. The maximum late fee is Rs. 5,000. There is no late fee on IGST.

The interest will be 18% per annum. It will be calculated by the taxpayer on the amount of outstanding tax that is to be paid. It will be calculated from the next day of filing to the date of payment.

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