GST Return Filing

Every business registered under the GST system must file GST returns according to a frequency that aligns with their business activities—whether it be monthly, quarterly, or annually. While this process may seem challenging, gsttaxwala offers expert online assistance to make it simple. It is crucial for taxpayers to meet the designated deadlines for submission, as these returns help the government assess the business’s overall tax liability.

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What is a GST Return?

A GST return is a formal document that records all financial transactions of a GST-registered person, including income and expenses. It is required to be submitted regularly to tax authorities to accurately determine the taxpayer’s net tax liability.

GST returns include the following key components:

  • Purchases: A detailed record of goods or services purchased by the taxpayer.
  • Sales: A log of the taxpayer’s sales transactions.
  • Output GST: GST collected on sales.
  • Input Tax Credit (ITC): GST paid on purchases, which can be claimed as credit against output GST.

For businesses looking for help with GST return filing and compliance, gsttaxwala offers software solutions designed to streamline the process.

Types of GST Returns

The type of GST return to be filed depends on the taxpayer’s category and registration details. Here are 13 major GST returns:

  • GSTR-1: Filed to report details of outward supplies (sales).
  • GSTR-3B: A summary return capturing both purchases and sales, including tax payments.
  • GSTR-4: A condensed statement for businesses under the Composition Scheme.
  • GSTR-5: Filed by non-resident taxpayers conducting taxable transactions in India.
  • GSTR-5A: Filed by online service providers who offer information and database services.
  • GSTR-6: Filed by Input Service Distributors to declare input tax credit distribution.
  • GSTR-7: Filed by entities responsible for deducting TDS under GST.
  • GSTR-8: Filed by e-commerce operators to report transactions on their platforms.
  • GSTR-9: The annual return summarizing all periodic filings for the financial year.
  • GSTR-10: Filed upon cancellation of GST registration.
  • GSTR-11: Filed to claim refunds by those with a Unique Identification Number.
  • CMP-08: A quarterly return for Composition Scheme taxpayers, reporting tax liability.
  • ITC-04: Filed by manufacturers to declare goods sent to or received from job workers.

Additional GST Returns Related to Input Tax Credit

  • GSTR-2A (Dynamic): Provides a real-time view of inward supplies based on supplier reports.
  • GSTR-2B (Static): Offers a fixed snapshot of inward supplies for input tax credit based on supplier filings.

For small taxpayers enrolled in the Quarterly Return Monthly Payment (QRMP) scheme, the Invoice Furnishing Facility (IFF) allows the reporting of B2B sales during the first two months of each quarter. However, monthly tax payments must still be made using Form PMT-06.

GST Return Due Dates

Here are the due dates for various types of GST returns:

  • GSTR-1:
    • Monthly for regular taxpayers: 11th of the following month.
    • Quarterly: 13th of the month following the quarter.
  • GSTR-2A: Auto-generated for all taxpayers, used for reconciliation.
  • GSTR-3B:
    • Monthly for regular taxpayers: 20th of the following month.
  • GSTR-4:
    • For Composition Scheme taxpayers: Annually, by 30th April following the financial year.
  • GSTR-5:
    • For non-resident taxpayers: 20th of the following month.
  • GSTR-6:
    • For Input Service Distributors: 13th of the following month.
  • GSTR-7:
    • For TDS deductors: 10th of the following month.
  • GSTR-8:
    • For e-commerce operators: 10th of the following month.
  • GSTR-9:
    • Annual for regular taxpayers: 31st December of the next financial year.
  • GSTR-9C:
    • Annual return, filed by 31st December along with GSTR-9.
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