GST Return Filing is a mandatory compliance for every business that is registered under the GST Act/regime.
Under GST (Goods and Services tax), filing the GST returns is a crucial activity that works as a link between the government and the taxpayer.
While filing the return, the taxpayer has to provide the information such as the details of the business activity, payment of taxes, declaration of tax liability, and other information as required by the government.
GST returns are supposed to be filed electronically, i.e. on the GST portal. However, there’s a facility where one can also file GST returns manually.
Such returns are prepared offline and then uploaded to GSTIN portal either through the taxpayer or a facilitation centre.
Every GST registration holder who is taxable under the GST Act, 2017 are required to file GST returns as based on the nature of their business.
Therefore, whether you are engaged in the selling of goods or render services to others, you must obtain GST registration and file the returns periodically.
Under GST, a registered dealer involved in the following activities needs to file GST return:
- Output GST (on Sales)
- ITC (Input Tax Credit) with GST paid on purchase.
There are various types of GST returns in India. The number of returns required to be filed depend on the nature of taxpayer:
Returns to be filed by a Normal Taxpayer
|Particulars of Outward Supplies
|10th of the next month
|Particulars of Inward Supplies
|15th of the next month
|Monthly Return of tax payment
|20th of the next month
|31st December of next financial year
Returns to be filed by a Composition Taxpayer
|18th of month succeeding every quarter
|31st December of next financial year
Additional Returns based on the Nature of the Business
|Particulars of Inward and Outward Supplies. Tax liability computation
|20thof the next month. For the last month either 20thof the next month or 7 days after expiration, whichever is earlier
|Non-Resident Taxable Person
|Distribution of Input Tax credit
|13th of next month
|Input Service Distributor
|TDS details or any related modifications
|10thof next month
|Authorities deducting tax at source
|Details of supplies affected through them.
|10thof the next month
|E-commerce Operator who collects tax at source
The above-stated returns are made compulsory by the Central Goods and Services Act (CGST) Act, 2017. However, the GST is altogether a new concept; therefore, it’s not that easy for the taxpayers to adjust the right way.
Hence, with a motto to make this transition to the new tax regime easy some relaxations have been introduced by the authorities.
If GST returns aren’t filed within the prescribed time, then the taxpayers would have to pay interests as well as the late fee.
An interest of 18% per annum would be liable. The taxpayer can calculate the interest on the amount of outstanding tax to be paid. The time period must be from the next day of the return filing to the date of payment.
Late fee includes Rs. 50 per day per Act. Therefore, it is Rs. 25 under CGST & Rs. 25 under SGST (State Goods and Services Tax). In total, it amounts to Rs. 50 per day.
1. Who is eligible to file GSTR 11?
An individual who has been granted a Unique Identity Number (UIN) for the purpose of receiving a refund on his/her purchase in India needs to file GSTR 11. Only diplomatic bodies or foreign embassies holding UN can file GSTR 11.
2. How can one file GST returns online?
For filing GST returns online, the person needs to first visit the GST portal. Secondly, you have to login using your username and password. Once the person has logged-in with his username and password, he can access his profile, and head to the ‘Services’ section and click on the ‘Return’ tab. On choosing the period of return filing, the applicant can view the various forms present and the due date for filing each return. Select on ‘Prepare Online’ to proceed with filing GST returns.
3. Does e-commerce operator also need to file GST returns?
Yes, e-commerce operator needs to file GSTR-8 who collects tax at source. The main objective of filing GSTR-8 forms is to maintain a complete record of the transactions done on an e-commerce platform. GSTR-8 must be filed before the 10th of every month.
4. Who can file GSTR-10?
Any person who has surrendered his GST registration or it has been cancelled needs to file GSTR 10. It should be filed within three months of the date of surrender or cancellation of the license.
5. Who is eligible to file GSTR-6 return?
A person who is registered under GST as an input service distributor needs to file GSTR-6 return before 13th of every month.
6. How many types of GST Returns are there?
There are thirteen types of GST Returns.
7. Who files the monthly GST return?
- GSTR 1-Must be filed on 10th of the subsequent month.
- GSTR 2-15thof the subsequent month.
- GSTR 3- 20thof the subsequent month.
- GSTR 5- 20thof the subsequent month.
- GSTR 6-13thof the subsequent month.
- GSTR 7- 10th of the subsequent month.
8. What is GSTR 2?
GSTR-2 is a monthly return which summarises the details of inward purchases of taxable goods and services or both. Every registered taxable person needs to give details of Inward Supply, i.e., purchases for a tax period in GSTR-2.
9. Who should file GSTR 1 monthly?
Every registered person is required to file GSTR-1 every month. This return contains details of all the outward supplies made during the month. However, certain taxpayers with an annual turnover up to Rs. 1.5 crores can file the GSTR-1 once in every quarter.
10. Is there any late fee for GSTR 1?
Yes, there is late fee for Form GSTR 1. Late Fees for not filing GSTR-1 is Rs. 200 / day of delay (Rs. 100 as per CGST Act and Rs. 100 as per SGST Act). The late fees will be charged from the date after the due date. As per the Latest Update: The late fees have been reduced to Rs. 50 per day and Rs 20 per day in case of nil return.
11. Can we file GSTR 3B without filing GSTR 1?
No, GSTR 1 needs to be filed before filing GSTR 3B. GSTR-1 and GSTR-3B are matched as the return-filing system is integrated and a mismatch between the same could result in improper disclosure in the annual return.
12. Who can file GSTR 1 Quarterly?
Small taxpayers with annual turnover up to Rs. 1.5 crore in the previous financial year can file GSTR 1 on a quarterly basis.
13. Who can file GST quarterly return?
Taxpayers having an annual aggregate turnover up to Rs 1.5 crore in the previous financial year or anticipated in the current financial year can avail the option of filing quarterly returns.
14. Is GST returned monthly or quarterly?
Taxpayers have the option to opt for either monthly or quarterly returns.
15. What is GSTR 3B AND GSTR 1?
- GSTR 3B-It is a monthly summary return filed which is by a taxpayer by the 20th of subsequent month. GSTR-3B discloses all the supplies made during the month along with GST to be paid, input tax credit claimed, purchases on which reverse charge is applicable, etc., and also makes a provision for the payment of taxes, if any, for the relevant month.
- GSTR 1- It is a monthly or quarterly return usually filed by taxpayers to disclose details of their outward supplies for the month, along with their tax liability.