GST Returns

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What is GST Return?

   GST return is a statement that contains details of all the purchases, sales, tax paid on purchases, and tax collected on sales-related details. The GST returns is required to be filed with the tax authorities to calculate the net tax liability after which the taxpayer has to pay off the decided tax liability.

Who is required to file GST Return

   GST returns must be filed by every business units who are registered under the GST system. The filing process has to be identified on the basis of the nature of the business and the turnover of the business.

Types of GST Returns:

Return formDescriptionWho needs to fileDue date & Frequency
GSTR 1Monthly Statement of Outward supplies of Goods or ServicesEvery normal registered taxpayer under GSTTurnover < Rs. 1.5 crore – Quarterly, 31st of the month succeeding the quarter Turnover > Rs. 1.5 crore – Monthly, 11th of the succeeding month
GSTR-3BDeclaring their summary GST liabilities for the applicable tax period calculated with details of outward supplies & inward suppliesAll the normal taxpayersMonthly, 20th of the succeeding month
CMP-08(Earlier GSTR-4)To declare summary of outward supplies and import of services liable to reverse charge mechanismTaxable Person opting for Composition LevyQuarterly, 18th of the month succeeding the quarter
GSTR-5It contains the details of the taxpayer, period of return and invoice details of all goods and services sold and purchased (this also includes imports) by the taxpayer on Indian soil for the registered period/monthNon-resident taxable personMonthly, 20th of the succeeding month
GSTR-6Include invoice-level supply details from the GSTR-1 of counter-parties, invoice details, including the GSTIN of the taxpayer receiving the credit, separate ISD ledger containing the opening ITC balance for the period, credit for ITC services received, debit for ITC reversed or distributed, and closing balanceReturn for input service distributorMonthly, 13th of the succeeding month
GSTR-7Declare TDS liability by the authorities deducting tax at sourceReturn for authorities carrying out tax deduction at sourceMonthly, 10th of the succeeding month
GSTR-8E-commerce operators or tax collectors should file details of supplies affected and the amount of tax collectedE-commerce operatorsMonthly, 10th of the succeeding month
GSTR-9Annual Return : A document or statement containing the details of all supplies made and received under various tax heads (CGST, SGST and IGST) during the entire year along with turnover and audit details for the sameRegistered Person other than an ISD, TDS/TCS Taxpayer, Casual Taxable Person and Non-resident TaxpayerAnnually, 31st December of next Financial Year
GSTR-9CReconciliation statement reconciling value of supplies declared in annual return with the audited annual accounts.Registered Persons Getting Accounts Audited From CAAnnually, 31st December of next Financial Year
GSTR-10Final Return .The taxable person whose registration has been canceled or surrendered should file the final returnRegistered Person Whose GST Registration Gets CancelledONCE, Within 3 months of the date of cancellation or date of cancellation order, whichever is later
GSTR-11The person having UIN should file details of inward supplies, to claim GST refund through RFD-10UIN (Unique Identification Number) HoldersQuarterly, not mandatory for UIN holders who did not receive any inward supplies during the quarter.
28th of the next month for which refund statement is filed

Interest on late payment of GST

                               Interest under GST is charged in following cases

Particulars Interest
1. Delayed Payment of GST 18% per annum
2. Undue or Excess reduction of Tax Liability 24% per annum
3. Undue or Excess claim of ITC 24% per annum

Late Fees until May 2021

When a Registered Taxpayer misses the filing of GST Returns within a due date, the late fees is levied by the government of India. 

The Late Fee for various GST Returns are as follows

ParticularsLate Fees
1. GSTR 3B, GSTR 1 and GSTR 4 (If there are Sales)Rs 50 per day up to a maximum of Rs 10,000
2. GSR 3B, GSTR 1 and GSTR 4 (Nil Return)Rs 20 per day up to a maximum of Rs 10,000
3. GSTR 9 & GSTR 9ARs 200 per day up to a maximum of 0.5% of turnover
4. GSTR 10 (Final Return)Rs 200 per day

Late Fees from June 2021

TurnoverType of Return 
1. Nil returnsGSTR 3B/GSTR 1Rs 50 per day up to a maximum of Rs 10,000
2. Turnover upto Rs 1.5 Crores (other than Nil Returns)GSTR 3B/GSTR 1Maximum Late Fees is Rs 2000
3. Turnover between Rs 1.5 crore to Rs 5 Crores (other than Nil Returns)GSTR 3B/GSTR 1Maximum Late Fees is Rs 5000
4. Turnover above Rs 5 CroresGSTR 3B/GSTR 1Maximum Late Fee is Rs 10,000
5. Nil returnsGSTR 4Maximum Late Fee is Rs 500
6. For Other than Nil ReturnsGSTR 4Maximum Late Fees is Rs 2000

Frequently Asked Questions(FAQ’s)

What type of outward supply details are to be filed in the return?

A normal registered taxpayer has to file the outward supply details in GSTR-1 in relation to various types of supplies made in a month, namely outward supplies to registered persons, outward supplies to unregistered persons (consumers), details of Credit/Debit Notes, zero rated, exempted and non-GST supplies, exports, and advances received in relation to future supply

Do Input Service Distributors (ISDs) need to file separate statement of outward and inward supplies with their return?

No, the ISDs need to file only a return in Form GSTR- 6 and the return has the details of credit received by them from the service provider and the credit distributed by them to the recipient units. Since their return itself covers these aspects, there is no requirement to file separate statement of inward and outward supplies.

What is Quarterly Returns with Monthly Payment (QRMP) Scheme?

Quarterly Returns with Monthly Payment (QRMP) Scheme is for eligible taxpayers to file their Form GSTR-1 and Form GSTR-3B returns on quarterly basis, while paying their tax dues on monthly basis through a challan.

Who all are eligible for the QRMP scheme?

All taxpayers whose aggregate annual turnover (PAN based) is up to 5 Crore in the current financial year and the preceding financial year (if applicable) and have already filed their last due Form GSTR-3B return, are eligible for the QRMP scheme.

Is an Annual Return and a Final Return one and the same?

Ans. No. Annual Return has to be filed by every registered person paying tax as a normal taxpayer. Final Return has to be filed only by those registered persons who have applied for cancellation of registration. The Final return has to be filed within three months of the date of cancellation or the date of cancellation order..

Is GSTR 1 filing mandatory?

GSTR 1 needs to be filed even if there is no business activity (NIL return) in the tax period.

What is IFF?

IFF stands for Invoice Furnishing Facility for taxpayers who have opted for QRMP scheme to declare outward supplies to a registered person for first two months of any quarter. It is an optional facility. The facility will be similar to Form GSTR-1. It allows filing for only B2B invoices, credit notes, debit notes etc. Last date of filing IFF for a month is the 13th of the next month. This will allow recipient taxpayers to take credit of these invoices in the same month, if reported in IFF, by the supplier taxpayer under QRMP scheme.

Is DSC mandatory for all types of taxpayers?

DSC is not mandatory for all types of taxpayers. It is mandatory for all public & private limited companies, Limited Liability Partnerships(LLPs)