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15 June 2017

Quick Guide To GST Returns

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The GST has aimed to unify tax payments across the nation, therefore the key idea is to converge all the taxes – both state and central, and bring it under the ambit of the GST portal. Under the erstwhile regime, each manufacturer was required to file returns under different states in case his business has several locations. The process of dealing with filing returns, annexures, registers for Excise, VAT and Service Tax alike are cumbersome and time consuming. Additionally, this needs to be done monthly, quarterly, biannually and annually.However, under the new regime, this entire process of GST Returns has become simplified.

Irrespective of being a trader, manufacturer, reseller or a service provider, one need only file GST returns. We have put together a brief of the 19 primary form filings required under the GST regime. These filings need to be done online as e-filings by way of the GST portal. They are as follows –

Regular Dealer

Form

When to be filed

Details

Form GSTR-1

On the 10th of every subsequent month

Outward supply of taxable goods and services

Form GSTR-2A

On the 11th of every subsequent month

Inward supply of taxable goods and services – auto populated – as made available to a recipient by the supplier by way of Form GSTR-1

Form GSTR-2

On the 15th of every subsequent month

Inward supply of taxable goods and services for the purpose of claiming input tax credit. Any additions to be made to Form GSTR-2A need to be provided in this form.

Form GSTR-1A

On the 20th of every subsequent month

Outward supply of taxable goods or services with regard to any additions, modifications, corrections or deletions by way of Form GSTR-2 to be made available to supplier

Form GSTR-3

On the 20th of every subsequent month

Monthly returns basis the finalized details pertaining to outward and inward supplies as well as the payment of tax liability

Form GST ITC-1

—

Form for communicating any acceptance, discrepancy or duplication of claim based on input tax credit

Form GSTR-3A

—

Form for providing notice to a registered taxable person when he fails to furnish his return as per section 27 and section 31

Form GSTR-9

On 31st December of every financial year

Form for filing of Annual Return including furnishing details of input tax credit availed, payment of GST (including local, interstate and import/exports)

ERP-Software-GST-Enabled

Composite Dealer

Form

When to be filed

Details

Form GSTR-4A

Quarterly

Inward supply related detailsthat have been made available to the recipient registered under the composition scheme, as per Form GSTR-1

Form GSTR-4

Quarterly on the 18th of the subsequent month

Form for furnishing details pertaining to outward supply of taxable goods and services including all auto populated details as given in Form GSTR-4A

Form GSTR-9A

On 31st December of the next financial year

Form for furnishing consolidated details of all quarterly returns and tax payment details.

Non-Resident Foreign Taxpayer

Form

When to be filed

Details

Form GSTR-5

On the 20th of every subsequent month and within 7 days of expiry of the registration

Form for furnishing details pertaining to imports, outward supplies, input tax credit availed, tax paid, and closing stock

Input Service Distributor 

Form

When to be filed

Details

Form GSTR-6A

On the 11th of every subsequent month

Inward supply of taxable goods and servicesas made available to the Input service distributor recipient as per Form GSTR-1 as furnished by the supplier

Form GSTR-6

On the 13th of every subsequent month

Form for furnishing details pertaining to input credit distributed

 

Tax Deductor

Form

When to be filed

Details

Form GSTR-7

On the 10th of every subsequent month

Form for furnishing details pertaining to tax deducted at source (TDS)

Form GSTR-7A

Monthly basis

Form for providing the TDS Certificate – containing details of the value on which TDS is deducted and for the purpose ofdepositing TDS so deducted to the appropriate government authority

Services in E-Commerce

Form

When to be filed

Details

Form GSTR-8

On the 10th of every subsequent month

Form containing details pertaining to taxable supplies that are effected through e-commerce providers and operators including the tax collected on supplies

ERP-Software-Solution

When the Aggregate Turnover exceeds INR 1 crore

Form

When to be filed

Details

Form GSTR-9B

On 31st December of the next financial year

Form containing Reconciliation Statement including audited annual accounts and a duly certified reconciliation statement

Final Returns for a taxable person having a surrendered or cancelled registration

Form

When to be filed

Details

Form GSTR-10

Monthly basis to be filed within 3 months of such surrender or cancellation

Form containing details of inputs and capital goods held, tax paid and due.

Government bodies and United Nations bodies    

Form

When to be filed

Details

Form GSTR-11

On the 28th of every subsequent month

Details pertaining to the inward supply of taxable goods and services required to be furnished by a person having a unique identification number

Related posts:

  1. A Brief Snapshot of the GST Rates
  2. Basics on GST Payments – All You Need To Know
  3. Everything you Need to Know About GST Practitioner
  4. Invoice Rules Under GST Regime
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