What is GST Return Filing | Who Should File | Types of GST Returns

GST return is a form that a taxpayer registered under the Goods and Services Tax (GST) Act must file for every GSTIN that he is registered with. Further, the frequency of filing some GST returns may differ among the GSTR-1 and GSTR-3B filers, if the taxpayer opt for the Quarterly return filing and monthly payment of taxes.

GSTR-1

Information with regard to outward supplies of goods and services shall be required to be reported under the aforesaid return, in simple words once can say that all sales transaction during the period whether monthly or quarterly is to be reported. Apart from this all credit as well as debit notes are also required to be reported under this return. GSTR-1 return is required to be filed by normal taxpayers monthly. However, normal taxpayers having turnover up to Rs.1.5 crores in the previous financial year, can file it on a quarterly basis.

GSTR-2A

GSTR-2A return is a auto-populated return which contains details of all inward supplies of goods and services (Purchases made from registered suppliers during a tax period).

GSTR-2

GSTR-2 return is a return where we filed details with regard to inward supplies of goods and services i.e. the purchases made during a tax period.

GSTR-3

GSTR-3 return is also a monthly return for furnishing details of outward supplies. This return is also suspended by the government. Here the registered taxpayer shall fill all the net details and shall pay tax accordingly. The same shall be filed within due date and if not filled then taxpayer is required to pay late fees.

GSTR-3B

GSTR -3B Return was introduced here where a summary return is required to be filed by the registered taxpayer where information with regard to inward, outward supplies, input and tax liabilities. The Return should be filed within due date and if not filled within due dates then taxpayer will be required to pay penalty.

GSTR-4/CMP-08

GSTR-4 return is a return which is filed by registered taxpayers who have opted for the Composition Scheme as provided under GST Act. It shall be filed by the taxpayer who has opted for composition scheme. The return shall be filed quarterly.

GSTR-5

GSTR-5 return shall be filed by the non-resident foreign taxpayers (NRF taxpayer), who are registered under GST Act and run business in India. The return shall be filed monthly where information with regard to outward supplies made, inward supplies received, credit/debit notes, tax liability and taxes paid shall be filed.

GSTR-6

GSTR-6 return is a monthly return which shall be filed by an Input Service Distributor (ISD). ISD shall fill details with regard to the input tax credit which is being received and distributed by them.

GSTR-7

GSTR-7 return is also a monthly return which shall be filed by TDS Deductor under GST Act. Information in relation to TDS deducted, TDS liability payable and refund are require to be shown in this return.

GSTR-8

GSTR-8 return is a monthly return to filed by E-Commerce Operators registered under the GST Act, they collect Tax at source (TCS). The return contains details such as supplies made through the platform of E-commerce operator, and the TCS collected on the same. The GSTR-8 is to be filed on a monthly basis.

GSTR-9

GSTR-9 return is an annual return which shall be filed by all taxpayers registered under GST. The information with regard to all outward supplies made, inward supplies pertaining to previous year is required to be filed. It can be said that the return is a consolidated return of all monthly or quarterly returns. It is to be filed by all the registered taxpayer except the taxpayer as provided under the Act.

GSTR-9A

GSTR-9A return is an annual return for the taxpayer who opted for Composition Scheme under the GST Act in any financial year. It can be said that it is a consolidated return for all the monthly/quarterly returns filed during that financial year.

GSTR-10

GSTR-10 is to be filed by a taxable person whose registration has been cancelled or if he has surrendered it. It is the final return and the same has to be filed within a period of 3 month.

GSTR-11

GSTR-11 is to be filed by a registered person to whom a Unique Identity Number (UIN) has been issued. This is in order to get a refund under GST Act for the goods and services purchased by them in India.

Late fees, Penalty and Interest on GST returns in Delhi

Cancellation of GST registration

Failure to file GST returns on time may result into penalties and cancellation of GST registration. If GST return is continuously not submitted for six months, then the GST registration would be cancelled, and the person would not be able to obtain another GST registration unless all the late filing penalty is paid.

Nil GST returns

In case a person has no business, then also GST returns must be filed. Further, failure to file GST return in case of no business results into a penalty of INR 20 per day for each of the GSTR-3B return and GSTR-1 return. Penalty of Rs. 50 applicable if there are any sales liability.

Interest on late GST Payment

The person would also have to pay interest at the rate of 18% on GST payment remitted late to the Government.

Taxcellent helps you in filing GST returns timely. Plan for filing GST returns other than GSTR-1/GSTR-3B may vary as per the turnover.