What is GST Return?
GST Return is a document containing details of sales and purchases which a tax payer is required to file with the tax authorities. To file GST returns, GST compliant invoices are required.
Who should file GST Returns?
In the GST era, any regular business has to file two monthly returns and one annual return. As per the special cases, separate returns are required to be filed. Even if there is no business during the particular month, still returns filing are compulsory to avoid late filing fees and penalty.
- Registered persons taxable under GST has to file 3-monthly returns and 1-annual return.
- But all the businesses who has not exceeded the exempted limit, which is Rs.20 lakhs all over India and Rs.10 lakhs in Northeastern and Hill States, is not eligible.
- All those businesses that exceed this limit, needs to file GST return
- This should be applicable, even if an entity makes no sale during a given year in the form of NIL returns.
- A company having turnover of more than Rs.1.5 crore needs to file returns monthly. And if the company has turnover of more than Rs.1 crore then, it should be filled annually as well. Below this threshold limit, an enterprise has an option to file it according to their needs.
What if GST Returns are not filed?
- Buyers( Our Sellers) will not able to take ITC of goods purchased from us.
- It will liable to get registration cancelled automatically if returns not filed for approx 6 months.
What are the Types of GST Registration?
These are the types of GST returns along with their due dates. However, due to any circumstances any GST council may change any due dates for any particular period.
| Return Form | Particulars | Frequency | Due date |
| GSTR-1 | Details of outward supplies of goods and services | Monthly | 11th of the next month |
| GSTR-2 | Details of inward supplies of goods and services affected | Monthly | 15th of the next month |
| GSTR-3 | Monthly return, in the case of finalization of details of outward supplies and inward supplies along with the payment of tax. | Monthly | 20th of the next month |
| GSTR-3B | It is a simple return in which the summary of outward supplies along with Input Tax Credit is declared and payment of tax is affected by the taxpayer. | Monthly | 20th of the next month |
| GSTR-4 | For all the taxable person registered under the composition levy | Quarterly | 18th of the next month after the quarter |
| GSTR-5 | Returns for a non-resident foreign taxable person | Monthly | 20th of the next month |
| GSTR-6 | Returns for an input service distributor | Monthly | 13th of the next month |
| GSTR-7 | Returns for authorities deducting TDS | Monthly | 10th of the next month |
| GSTR-8 | Details of supplies effected through the e-commerce operator and the amount of tax collected | Monthly | 10th of the next month |
| GSTR-9 | Annual return for a normal taxpayer | Annually | 31st December of the next financial year |
| GSTR-9A | Annual return of a taxpayer registered under the composition levy anytime during the year | Annually | 31st December of the next financial year |
| GSTR-10 | Final return | Only once, when GST registration is cancelled or surrendered | Within 3 months of the date of cancellation or the date of cancellation of order, whichever is later |
| GSTR-11 | Details of inward supplies to be furnished by a person having UIN and claiming a refund | Monthly | 28th of the following month for which the statement is filed |
Can we revise the GST Returns?
No. It’s not possible to revise any GST returns. Any revision if any, in details already filed can be done in amendment section on GST portal for next period’s/ next month’s return.
What are Charges for Filing of GST Returns?
Filing of GST returns are starts with Rs.999/- per month.