What is GST Return?
GST return filing is done to maintain financial accounts per year. GST return is a document that contains the details of the income of the taxpayer. This document needs to be filed with the tax authorities.
Eligibility for Return Filing
- Registered persons taxable under GST has to file 2-monthly returns and 1-annual returns.
- But all the businesses who have not exceeded the exempted limit, which is Rs.20 lakhs all over India and Rs.10 lakhs in Northeastern and Hill States, are not eligible.
- All businesses with a turnover of more than 20 lakh rupees are required for GST return filing online.
- This should be applicable, even if an entity makes no sale during a given year in the form of NIL returns.
Types of GST Return?
| Return Form | Particulars | Frequency | Date |
|---|---|---|---|
| GSTR-1 | Details of outward supplies of goods and services | Monthly | 11th of the next month |
| GSTR-2B | Details of inward supplies of goods and services affected | Monthly | 13th 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 | |
| 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 | 30th December of the next financial year |
| GSTR-9A | The annual return of a taxpayer registered under the composition levy anytime during the year | Annually | 31st December of the next financial year |
| GSTR-9C | It is mandatory for registered taxpayers with a total turnover exceeding ₹5 Cr for the relevant financial year to file the GSTR 9C reconciliation statement. GSTR 9C must be prepared and self-certified by the taxpayer on the GST portal | Annually | 31st December of the next financial year |
| GSTR-10 | Final return | Only once, when GST registration is canceled or surrendered | Within 3 months of the date of cancellation or the date of cancellation of the 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 |