GST Return - Types of GST Returns & How to File?
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What is GST Return?

Every person registered under the GST Act has to periodically furnish the details of sales and purchases along with tax collected and paid thereon, respectively, by filing online returns. Before filing the return, payment of tax due is compulsory otherwise such return will be invalid.

How to File GST Return?

GST return can be filed in different forms depending upon the nature of transaction and registration. Return Forms that are applicable for Normal Tax payers and their due dates are:

  • Monthly Details of outward supplies in FORM GSTR-1 by the 10th of next month.
  • Monthly Details of inward supplies in FORM GSTR-2 by the 15th of next month.
  • Monthly Filing of Return along with payment of tax due in FORM GSTR-3 by the 20th of next month.
  • GST Annual Return Filing in FORM GSTR-9 by 31st December of next financial year.

GST - Return Fees

Number of Invoice Fees
NIL/ Upto 10 Invoices ₹ 500
10-25 Invoices ₹ 750
25-50 Invoices ₹ 1,000
Above 50 Invoices

Who should file GST Returns?

Every entity registered under GST will have to file a GST Return. A NIL return has to be filed even if no purchase-sales activities have been carried out during the return period.

Tenure of Filing GST Return

Depending on the type of registration and transactions, different periods have been specified. Monthly return has to be filed by regular taxpayers, foreign non-residents, input service distributor, tax deductors and e-commerce operators whereas composition taxpayers will have to file a quarterly return.

What is GSTR-1 Return?

GSTR-1 return will include details of the outward supplies or sales of goods and services by the taxpayer. This return form would capture the following information:

  • Basic details like Business Name along with GSTIN, period for which the return is being filed, etc.
  • Details of invoices issued in the previous month and the corresponding taxes to be paid.
  • Details of advances received against a supply which has to be made in future.
  • Details of revision in relation to outward sales invoices pertaining to previous tax periods.

What is GSTR-2 Return?

GSTR-2 return will include details of the inward supplies or purchases of goods and services by the taxpayer. GSTR-2 is prefilled for a buyer based on the GSTR-1 filed by his supplier. You just have to validate this prefilled information and make modifications if required. For example, if you are buying goods from company B, then the company B would have filed its GSTR-1 and included your name as the buyer. Now the same information will be reflected in your GSTR-2 as purchases which you need to validate. GSTR-2 will thus include the details of auto-populated purchases.

What is GSTR-3B Return?

One can say that GSTR-3 is a combined version of GSTR-1 and GSTR-2. As in the case of GSTR-2, GSTR-3 is also prefilled for a taxpayer based on the GSTR-1 and GSTR-2. You just have to validate this prefilled information and make modifications if required. GSTR-3 return will include the following details:.

What is GST Quarterly Return? (GSTR-4)

A taxpayer with a turnover of up to Rs. 75 Lakhs has the option to opt for the composition scheme. In such a case, he would be required to pay taxes at a fixed rate depending on the type of his business (2% for manufacturers, 5% for restaurant service sector and 1% for other suppliers). Although no input tax credit facility would be available. A taxpayer opting for the composition scheme would be required to file a simplified quarterly return that is GSTR-4. He is required to provide only the following details:

What is GST Annual Return? (GSTR-9)

All the normal taxpayers would be required to submit annual return under GST. This is intended to provide complete visibility about the activities of the taxpayer.