Goods and Services Tax (GST) compliance is mandatory for all registered taxpayers in India. One of the key aspects of GST compliance is the timely filing of returns. Filing GST returns ensures proper reconciliation of input tax credit (ITC), prevents penalties due to late filing, and maintains the smooth operation of business entities.
This article covers the various types of GST returns, their applicability, due dates, and compliance requirements.
| GST Return Number | Applicability | Due Date |
|---|---|---|
| GSTR-1 (Outward Supplies) | All registered taxpayers except composition scheme taxpayers. | Monthly: 11th of the following month (For turnover >1.5 Cr) Quarterly: 13th of the month following the quarter (For turnover <1.5 Cr) |
| GSTR-3B (Summary Return) | All registered taxpayers except composition scheme taxpayers. | Monthly: 20th of the following month (May vary based on state-specific extensions) |
| GSTR-4 (CMP-08) | Composition taxpayers | Quarterly: 18th of the month following the quarter |
| GSTR-5 (Non-resident Taxpayer) | Non-resident taxable persons | Monthly: 20th of the following month |
| GSTR-6 (Input Service Distributor) | ISD (Input Service Distributor) | Monthly: 13th of the following month |
| GSTR-7 (Tax Deducted at Source) | Deductors of TDS under GST | Monthly: 10th of the following month |
| GSTR-8 (Tax Collected at Source) | E-commerce operators collecting TCS | Monthly: 10th of the following month |
| GSTR-9 (Annual Return) | Registered taxpayers with annual turnover above Rs. 2 Crore | Annually: 31st December of the following financial year |
| GSTR-9A (Annual Return for Composition) | Composition taxpayers | Annually: 31st December of the following financial year |
| GSTR-9C (Reconciliation Statement) | Taxpayers with an annual turnover exceeding Rs. 5 Crore (Audit requirement) | Annually: 31st December of the following financial year |
| GSTR-10 (Final Return) | Taxpayers whose GST registration is canceled/surrendered | Within 3 months of cancellation date |
| GSTR-11 (UIN Holders Claiming Refund) | Persons having Unique Identification Number (UIN) | Monthly: 28th of the following month |
a. Login to the GST Portal (www.gst.gov.in).
b. Select the Return Type as per applicability.
c. Enter Details of outward and inward supplies, input tax credit, tax liability, and payments made.
d. Reconcile Transactions with auto-populated data in GSTR-2A.
e. Verify and Submit the Return after ensuring accuracy.
f. Make Tax Payments, if required, through the GST Portal.
g. File Return with DSC or EVC to complete the submission process.
• Avoidance of Late Fees & Interest: Delayed filing attracts late fees of Rs. 50 per day (Rs. 20 per day for nil return filers) and interest at 18% per annum on unpaid taxes.
• Seamless Input Tax Credit: Regular filing ensures ITC eligibility without discrepancies.
• Prevention of GST Registration Cancellation: Continuous default in return filing can lead to cancellation of GST registration.
The government frequently extends due dates for compliance relief. It is advisable to check official GST notifications and circulars for the latest updates.
• Late Filing Penalty: Rs. 50 per day (Rs. 20 for nil returns) per return.
• Failure to File Returns for 6 Consecutive Months: Can lead to GST registration cancellation.
• Fraudulent Non-Filing of Returns: Can attract penalties up to 100% of tax due and prosecution in extreme cases.
Ensuring GST compliance helps businesses maintain legal standing and avoid unnecessary penalties. For expert guidance, professional assistance can help streamline the filing process. For professional assistance, reach out to us on email: info@returnfilings.com or on whatsapp: https://wa.me/919910123091.
A GST return is a document that taxpayers are required to file with the tax authorities, providing details of their sales, purchases, input tax credit claimed, and tax liability for a specific tax period.
GST returns are required for: Compliance with the GST law. Reporting business transactions to the government. Calculating and paying GST. Claiming input tax credit (ITC). Ensuring transparency and accountability.
Every registered GST taxpayer is required to file GST returns, even if there are no transactions during a particular tax period (in which case, a nil return must be filed).
There are various types of GST returns, each designed for specific purposes and categories of taxpayers. Some common returns include: GSTR-1: Details of outward supplies of goods or services. GSTR-3B: Summary return including outward supplies, inward supplies, ITC claimed, and tax payable. GSTR-9: Annual return. GSTR-9C: Reconciliation statement between audited annual accounts and GSTR-9. (Note: The specific returns applicable to a taxpayer may vary based on their business type and turnover.)
GST returns are filed online through the GST portal (www.gst.gov.in).
The process generally involves: Visiting the GST portal. Logging in to the GST account. Selecting the relevant return and tax period. Entering the required details. Uploading invoices (if applicable). Verifying the return using a Digital Signature Certificate (DSC) or Aadhaar-based e-signing. Submitting the return.
The due dates for filing GST returns vary depending on the type of return and the taxpayer’s category. It’s crucial to check the GST portal for the latest due dates as they can change.
Late filing attracts penalties, which increase with the delay. Consistent non-compliance can also lead to further action by the tax authorities.
GST return filed cannot be revised, amendments can be filed in subsequent returns.
Besides filing returns, businesses also need to comply with other requirements, such as: Maintaining proper records of invoices, purchases, and sales. Issuing tax invoices for outward supplies. Generating e-invoices (if applicable). Making timely GST payments. Reconciling ITC.
An e-invoice is a digitally generated invoice that is authenticated by the GST portal. It is mandatory for certain businesses above a specified turnover threshold.
E-invoicing aims to standardize invoicing practices, reduce tax evasion, and improve transparency.
GST reconciliation involves comparing the sales and purchase data reported in GST returns with the data recorded in the books of accounts. It helps identify discrepancies and ensure accuracy in reporting.
ITC is the credit you can claim for the GST paid on your purchases of goods or services used in your business. It can be used to offset your output tax liability.
ITC is claimed in the relevant GST return. You need to provide details of the invoices on which ITC is being claimed.
There are certain conditions for claiming ITC, such as: You must be a registered GST taxpayer. You must have a valid tax invoice. The goods or services must be used for business purposes. The supplier must have uploaded the invoice to the GST portal.
You can find your GSTIN on the GST portal or on your GST registration certificate.
HSN (Harmonized System of Nomenclature) code is a unique code used to classify goods under GST.
SAC (Services Accounting Code) code is a unique code used to classify services under GST.
You can update your details by logging in to the GST portal.
Penalties vary based on the type of return and the length of the delay.
You can download invoices from the GST portal if they have been uploaded by the supplier.
GSTR-2A is an auto-populated statement of inward supplies based on the invoices uploaded by your suppliers.
You should reconcile the sales data reported in GSTR-1 and GSTR-3B to ensure consistency.
Common errors include incorrect HSN/SAC codes, invoice mismatches, and data entry errors.
The GST portal is the official source for all GST-related notifications and circulars.
