For those who have opted for composition scheme, quarterly returns are to be submitted.GST return is a document that will contain all the details of your sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). Once you file GST returns, you will need to pay the resulting tax liability (money that you owe the government).
Types of GSTR Forms & Due Date:–
The following is the complete list of GSTR forms along with their purpose and due date.
- GSTR 1:-is a return form that contains the detailed information of all the outward goods and services that are undertaken by the normal registered taxpayer as per the GST Law.
GSTR-1 contains details of invoices, debit notes, credit notes, and revised invoices for outward goods and services. The return is filed monthly by the 10th of next month. However, it can also be extended by the Commissioner for any class of person beyond the 10th.
- GSTR 2:–In contrast to GSTR-1, GSTR-2 is the form which contains the detail information about the inward supply of goods and services. It contains the details of purchases made by the taxpayer from both registered and unregistered taxable persons, along with the information about debit notes, credit notes.
The due date for filing GSTR-2 is 15th of the next month. However, the process of making any required changes and filing are usually done from 11th to 15th of the next month.
- GSTR 2A:–This is a read-only document that gets auto-populated as and when the seller files GSTR-1. Thus, GSTR-2a enables the buyer to verify the details submitted by the seller. The buyer or the recipient also has the right to reject, accept, modify, or keep the pending invoices based on the details filled by the seller.
- GSTR 3:–Similar to GSTR-2A, GSTR-3 is also auto-populated. It includes the information filed under the GSTR-1 and GSTR-2, along with any other liabilities related to preceding tax periods. It is to be filed by the 20th of next month.
- GSTR 3B:–It is a summarized monthly return of outward and inward supplies. It is filled separately by both purchasers and suppliers. GSTR-3B is a self-declaration by the taxpayer of the GST tax liabilities for the concerned period. Every normal registered taxpayer needs to file GSTR-3B even if the tax liability is zero. The due date for its submission is 20th of the next month.
- GSTR 4:–It is used to file quarterly returns for the taxpayers registered under the composition scheme. Small taxpayers with turnover upto ₹ 1.50 Cr file quarterly returns through this form. To reduce the tax and compliance burden for these small taxpayers, pay tax at a fixed rate, and file return quarterly. The due date for it is 18th of the month succeeding the quarter for which return is to be filed.
- GSTR 5:–This form is for the non-resident taxable person. The return includes details of inward and outward supplies, tax paid or payable, interest or fee paid, and any other amount to be paid as per the GST Act.
- GSTR 6:–Each Input Service Distributor needs to file GSTR-6 each month. It provides the details of the invoices which are issued by the ISD, and the credit has been received. It summarizes the total input tax credit available for distribution and is made available to each recipient in part B of GSTR-2A. The due date to file GSTR-6 is 13th of the next month for which the tax has to be paid.
- GSTR 7:–includes details like; liability towards TDS, tax deducted at source, interest, and fee paid or payable, and TDS refund (if any). The due date to file GSTR-7 is 10th of the next month.
- GSTR 8:–It is to be filled by those e-commerce platforms which are required to deduct Tax Collected at Source as per GST law. The form contains the details of goods and services supplied through e-commerce platforms and the tax amount collected from suppliers. The due date for this return is the 10th of the next month for which tax is to be collected.
- GSTR 9:–As per section 44(1), each registered taxpayer needs to furnish an annual return for each financial year. It includes details of the Input tax credit, casual taxable person, person who has to pay tax under section 51 or 52, and details of the non-resident taxable person. In case the registered person has zero tax liability, a NIL Annual Return will be filled. The due date for filing GSTR-9 is 31st December after the end of the concerned financial year.
- GSTR 9A:–It is the annual return for persons registered under the composition scheme. The details of the form include tax paid, tax refunds, inward and outward supplies, late fee, and input tax credit availed or reversed. The due date for filing GSTR-9A is 31st December succeeding at the end of each financial year.
- GSTR 9B:–It is the annual return for the e-commerce portals which are required to collect tax at source under section 52. The due date for filing GSTR-9B is 31st December succeeding at the end of each financial year.
- GSTR 9C:–Each registered person with an annual turnover of ₹ 2 Cr and more needs to get their accounts audited by a CA or cost accountant. Besides, the user also needs to submit the audited copy accounts, annual return, and reconciliation statement. The reconciliation statement is submitted in Form GSTR-9C. The due date for filing GSTR-9C is 31st December succeeding at the end of each financial year.
- GSTR 10:–It is the final return to be filed by the user whose GST registration has got canceled. However, such a person does not include; person paying tax under a composition scheme, a person who is collecting TDS or TCS, an input service distributor, and a non-resident taxable person. The main intent for this return is to make sure that the taxpayer has paid off all outstanding tax liability.
- GSTR 11:–This return is for those users who have been allotted a UIN (Unique Identification Number). The UIN is issued to the registered person to claim tax refunds of GST paid on the purchase of goods and services. The due date for filing GSTR-11 is 28th of the next month in which the UIN holders received inward supplies.
Qus:-How do I get a GST refund?
- Login to GST portal.
- Select the Refund tab-> Application for Refund Option.
- Select the type of refund and Fill the necessary details and submit. …
- Later take a print out along with the ARN number mentioned thereon.
- Submit this along with the applicable annexure to the respective Jurisdictional GST officer.
Qus:-What happens if you dont file GST?
If you don’t file any GST return then subsequent returns cannot be filed. For example, if GSTR-2 return of August is not filed then the next return GSTR-3 and subsequent returns of September cannot be filed. Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty (see below).