Filing of Returns

What is Filing of Returns?

Filing of Returns is a process where details of business invoices are furnished to the tax authority. It's a declaration and disclosure of the precise amount of sale and purchases to the Government so that the right amount of taxes can be paid. Under GST, a registered organization in India has to disclose purchases (input) and sales (output) on monthly or quarterly basis. The return filing is a simple process which involves uploading of invoices, buyer details, date, nature of goods, amount, etc. For filing GST returns, one need to be trained with the process and user interface so as to file and pay the tax smoothly.

On an average, an organization with annual aggregate turnover above Rs. 5 Crore need to file 26 returns in a year which includes two monthly returns and two annual returns.

Organizations with annual turnover up to Rs. 5 Crore can opt for QRMP Scheme (Quarterly Return Monthly Return) where they can file their returns on quarterly basis. They need to file 9 returns a year.

Organizations registered under Composition Scheme need to file only 5 returns year.

Different Types of GST Returns

Under GST, there are 22 types of returns out of which, 11 are active, 8 are auto populated and view only and 3 are suspended. Let's understand various type of returns under GST.

GSTR 1: In GSTR1, the tax payer is required to furnish all details of outward supplies of taxable goods and services. In requires uploading of invoices, details of debit and credit notes, HS Code wise list of outward supplies and even any amendments made in the sale invoice (even related to previous tax periods).

• For Monthly Taxpayers, GSTR 1 should be filed and submitted by 11th of next month.

• For QRMP Scheme Taxpayers, GSTR 1 should be filed and submitted by 13th of next month.

GSTR 2A: This is an auto populated form containing information of all inward supplies of goods and services from registered persons. The data here depends on the data filed by the concerned supplier in his GSTR 1. This is read only return and hence, cannot be edited. It is mainly used for claiming the right amount of ITC.

GSTR 2B: This return is also a view only return for all inward supplies of goods and services from registered persons. It contains constant ITC data for a particular period. It covers ITC details right from the date of filing previous month's GSTR 1 and is made available on 12th day of every month. It enables the tax payer to take action with respect to reversal, ineligible, reverse charge, etc.

GSTR 2: GSTR 2 is a return for registered buyers to report their inward supply of goods and services during the given period. It is currently suspended.

GSTR 3: It's a monthly summarized return to be furnished by a registered tax payer comprising of information relating to inward and outward supplies along with input tax credit and taxes paid. It is currently suspended.

GSTR 3B: GSTR 3B is a monthly self declared monthly furnishing of information related to outward supplies, input tax credit claimed, tax liability and any taxes paid. The details of outward supplies and input tax credit has to match with GSTR 1 and GSTR 2B for the respective tax period before filing GSTR 3B. This is required to avoid any mismatches in data, which may lead to severe consequences.

• For monthly Tax Payers, GSTR 3B should be filed and submitted by 20th of next month.

• For QRMP Scheme Tax Payers, GSTR 3B should be filed and submitted by 22nd of the month following the quarter for Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu, Puducherry, Andaman & Nicobar Islands and Lakshadweep, whereas 24th of the month following the quarter for Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu & Kashmir, Ladakh Chandigarh and New Delhi.

GSTR 4: It is the annual return to be filed by Composition dealers by 30th April of the following financial year. 2019-2020 onwards, it replaced GSTR 9A and before that, it was to be filed quarterly.

GSTR 5: This return is filed by non resident foreign taxpayers registered under GST who are carrying out business in India. It contains details of outward supplies, inwards supplies, debit - credit notes and taxes. GSTR 5 should be filed by 20th of the next month.

GSTR 5A: GSTR 5A reports outward supplies and tax payable by Online Information and Database Access or Retrieval Services (OIDAR) provider under GST. GSTR 5A should be filed before 20th of next month.

GSTR 6: This is a monthly return filed by Input Service Distributors. It contains details of input tax credit received and distributed by an input service distributor. GSTR 6 should be filed by 13th of next month.

GSTR 7: is a monthly return to be filed by persons required to deduct TDS (Tax deducted at source) under GST. It contains details of TDS deducted, TDS liability payable and paid and TDS refund claimed if any. The due date for filing GSTR 7 is 10th date of next month.

GSTR 8: This is a monthly return filed by e-commerce operators registered under the GST who are required to collect tax at source (TCS). It includes details of all supplies made through e-commerce platform and the TCS collected thereon. The due date for filing GSTR 8 is 10th date of next month.

GSTR 9: GSTR 9 is an annual return filed by taxpayers registered under GST. It contains details of outward supplies, inward supplies under CGST, SGST and IGST, value of supply as per HS Code along with details of tax payable and paid. It's a consolidated version of all the returns GSTR 1, GSTR 2A and GSTR 3B filed during the concerned financial year. The due date for filing GSTR 9 is 31st December of next financial year.

GSTR 9A: Suspended with effect from 2019. Was earlier used for reporting annual returns of Composition Dealers. It has been replaced by GSTR 4.

GSTR 9C: This is a reconciliation statement filed by registered taxpayers after having a GST audit of the books of accounts and the figures in GSTR 9. It is required to fled by taxpayers having turnover above Rs. 2 Crore in a financial year. The due date for filing GSTR 9C is 31st December of next financial year.

GSTR 10: This called final return as it has to be filed by taxpayers who are cancelling their GST registration. It has to be filed within 3 months from the date of cancellation or cancellation order, whichever is earlier.

GSTR 11: This return is to be filed by taxpayers who hold Unique Identity Number (UIN). They are foreign diplomatic missions and embassies located in India. This return contains inward supplies and refunds claimed by them.

Note: If there is no inward or outward supply, a person registered under GST should file NIL return.