GST Return Filling

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Introduction:

Any Company or person registered as tax payer under the Goods & Service Tax Act is required to give details of his supply and discharge tax liability and do the GST Return Filing on a monthly or quarterly basis. It is the responsibility of the registered taxpayer to pay GST with the government within the 20th of the succeeding month by filing GST 3B & file outward supply details on a monthly/quarterly basis before the 20th of the succeeding month/quarter based on the scheme applicable to him.

What is GST Return?

It is a document containing details of all income/sales and/or purchase which a taxpayer (every GSTIN) is required to file with the tax administrative authorities.

Who should file GST Returns?

GST returns must be filed by every business unit whose turnover exceeds 20 or 40 lakh (Optional) annually. Taxpayers are also supposed to go through various eligibility criteria for different slabs

Under the GST, any regular business having more than Rs.5 crore as annual turnover has to file two monthly returns and one annual return. This amounts to 26 returns in a year.

GST Returns:

GSTR-1:	GSTR-2:
Details of outward supplies of taxable goods and/or services affected. Monthly Return\| Quarterly Return 11th of the next month/ 13th of the month succeeding the quarter.	Details of inward supplies of taxable goods and/or services effected claiming the input tax credit. (*Suspended from September 2017 onwards)* Monthly Return. 15th of the next month.
GSTR-3:	GSTR- B:
Finalization of details of outward supplies and inward supplies along with the payment of tax. (*Suspended from September 2017 onwards)* Monthly Return 20th of the next month.	Summary of outward supplies and the input tax credit is declared, and tax payment is affected by the taxpayer. Monthly Return 20th of the next month.
GSTR-4:	GSTR-5:
Return for a taxpayer registered under the composition scheme under section 10 of the CGST Act. Annually 30th of the month succeeding a financial year.	Return for a non-resident foreign taxable person. Monthly Return 20th of the next month.
GSTR-6:	GSTR-7:
Return for an input service distributor to distribute the eligible input tax credit to its branches. Monthly Return 13th of the next month	Return for government authorities deducting tax at source (TDS). Monthly Return 10th of the next month.
GSTR-8:	GSTR-9:
Details of supplies effected through e-commerce operators and the amount of tax collected at source by them. Monthly Return 10th of the next month.	Annual return for a normal taxpayer. Annually Return 31st December of next financial year.
GSTR-9A:	GSTR-9C:
*(Suspended)*	Certified reconciliation statement. Annually Return 31st December of next financial year.
GSTR-10:	GSTR-11:
Final return to be filed by a taxpayer whose GST registration is canceled. When GST registration is canceled or surrendered. Within 3 months of cancellation or date of cancellation order, whichever is later	Details of inward supplies to be furnished by a person having UIN and claiming a refund Monthly Return 28th of the month following the month for which statement is filed.

Late fee/penalties for non-filing GST Return:

In case the taxpayer fails to file the GST returns within the due date provided by the GST department, then the taxpayer has to liable to pay a late fee along with interest @18%. The late fee will be Rs.20 per day if it is a NIL return or else Rs 50 will be levied if you fail to furnish the return within the specified date.