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TYPES OF GST RETURNS
GSTR-1 return form has to be filed by a registered taxable supplier with details of the outward supplies of goods and services. This form is filled by the supplier. The buyer has to validate the auto-populated purchase information on the form and make modifications if required. The form will contain the following details:
- Business name, period for which the return is filed, Goods and Services Taxpayer Identification Number (GSTIN).
- Invoices issued in the previous month and the corresponding taxes collected.
- Advances received against a supply order that has to be delivered in the future.
- Revision in outward sales invoices from the previous tax periods.
GSTR-3 return form has to be filed by a registered taxpayer with details that are automatically populated by from GSTR-1 and GSTR-2 returns forms. The taxpayer has to verify and make modifications, if any. GSTR-3 return form will contain the following details:
- Details about Input Tax Credit, liability, and cash ledger.
- Details of tax paid under CGST, SGST, and IGST.
- Claim a refund of excess payment or request to carry forward the credit.
GSTR-4 return form has to be filed by taxpayers who have opted for the Composition Scheme. Taxpayers with small business or a turnover of up to Rs.75 lakh can opt for the Composition Scheme wherein he or she have to pay tax at a fixed rate based on the type of business. Taxpayers under this scheme will not have input tax credit facility. GSTR-4 quarterly return form will contain the following details:
- The total value of consolidated supply made during the period of return.
- Details of tax paid.
- Invoice-level purchase information.
GSTR-9 return form is filed by normal taxpayers with details of all income and expenditure for the year. This detail will be regrouped in accordance with the monthly returns. The taxpayer will have the opportunity to make modifications in the information provided if required. GSTR-9 has to be filed by 31st December of the following financial year along with the audited copies of the annual accounts.
GSTR-2 return form has to be filed by a registered taxable recipient with details of the inward supplies of goods and services. The form will contain the following details:
- Business name, period for which the return is filed, Goods and Services Tax Identification Number (GSTIN).
- Invoices issued in the previous month and the corresponding taxes collected.
- Advances received against a supply order that has to be delivered in the future.
- Revision in outward sales invoices from the previous tax periods.
GSTR-3 return form has to be filed by a registered taxpayer with details that are automatically populated by from GSTR-1 and GSTR-2 returns forms. The taxpayer has to verify and make modifications, if any. GSTR-3 return form will contain the following details:
- Details about Input Tax Credit, liability, and cash ledger.
- Details of tax paid under CGST, SGST, and IGST.
- Claim a refund of excess payment or request to carry forward the credit.
GSTR-5 return form has to be filed by all registered non-resident taxpayers. This form will contain the following:
- Name and address of the taxpayer, GSTIN, and period of return.
- Details of outward supplies and inward supplies.
- Details of goods imported, any amendments in goods imported during the previous tax periods.
- Import of services, amendments in import of services
- Details of credit or debit notes, closing stock of goods, and refund claimed from cash ledger.
GSTR-5 has to be filed by 20th of the following month.
GSTR-6 return form has to be filed by all taxpayers who are registered as an Input Service Distributor. This form will contain the following:
- Name and address of the taxpayer, GSTIN, and period of return.
- Details of input credit distributed.
- Supplies received from registered persons.
- The amount of input credit availed under the current tax period.
- Details of inward supplies will be auto-populated from GSTR-1 and GSTR-5 return forms.
- Details of the receiver of input credit corresponding to his or her GSTIN.
- Details of credit or debit notes.
- Input tax credit received, input tax credit reverted, and input tax credit distributed as SGST, CGST, and IGST.
GSTR-6 has to be filed by 13th of the following month.
GSTR-7 return form has to be filed by all registered taxpayers who are required to deduct tax at source under the GST rule. This form will contain the following:
- Name and address of the taxpayer, GSTIN, and period of return.
- TDS details and amendments in invoice amount, TDS amount or contract details.
- TDS liability will be auto-populated. Details of fees for late filing of return and interest on delayed payment of TDS.
- Refund received from Electronic Cash Ledger will be auto-populated.
GSTR-7 has to be filed by 10th of the following month.
GSTR-8 return form has to be filed by all e-Commerce operators who are required to collect tax at source under the GST rule. This form will contain details of supplies effected and the amount of tax collected under Sub-section (1) of Section 43C of Model GST Law. Other details include:
- Name and address of the taxpayer, GSTIN, and period of return.
- Details of supplies made to registered taxable person and amendments, if any.
- Details of supplies made to unregistered persons.
- Details of Tax Collected at Source.
- TDS liability will be auto-populated. Details of fees for late filing of return and interest on delayed payment of TDS.
Needed Knowlegde of GST Returns
| GST Return Form Name | Filing Period | Due Dates in February 2021 |
|---|---|---|
| GSTR 07 | Monthly (January 2021) | 10th February |
| GSTR 08 | Monthly (January 2021) | 10th February |
| GSTR 01 (T.O. more than 1.5 Crore) | Monthly (January 2021) | 11th February |
| GSTR 06 | Monthly (January 2021) | 13th February |
| GSTR 3B | Annual Turnover of more than INR 5cr in Previous FY – January 2021 | 20th February |
| GSTR 05 | Monthly (January 2021) | 20th February |
| GSTR 05A | Monthly (January 2021) | 20th February |
| GSTR 3B | Annual Turnover of upto INR 5cr in Previous FY – January 2021 (Group A: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep) | 22nd February |
| GSTR 3B | Annual Turnover of upto INR 5 Cr in Previous FY – January 2021 (Group B: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi) | 24th February |
| GSTR 9 & 9C | FY 2019-20 | “CBIC has extended the due date for filing GST annual and reconciliation form for FY 2019-20 till 28th February 2021” |
| GSTR 01 (T.O. upto 1.5 Crore) | Quarterly (January – March 2021) | 13th April 2021 |