GST Returns

GST Returns

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GST Returns

About:-

As Per GST Act, GST Return Basically a Statement of Specifed Particulars releted to the Business acticity, which deals by the taxable person during a specified Period/Frequency. In it very important tools for the department to collect financials data and other information of the assessee. All Returns under GST is filed online/electronically on the GSTN Portal. There is no Scope of Physical Filing as was previously done in old systems (Except Otherwise Directed by the Court to do so).

These are following types of returns filed under GST on regular intervals :-:-

  • GSTR-1:- In this Return we furnish details of outward supplies of taxable goods and/or services affected Monthly & Quartely Basis( applicale for those registered persons whose aggregate turnover upto 1.50 Cr may opt for quartely). The Due date of Filing of this return for Monthly it is 11th of the next month & for rest taxable persons 11th of next quarter.
  • GSTR-2A:- IT is a Auto populated input Details which showns on monthly Basis.this retuen is helpful to in maintaining transparecy.The return Contain all invoice of Goods/Service on which we Paid Tax under GST(Admissable/Blocked both).This is also a very good tools to find the details of non compliance venodors & to create pressure to vendor to comply first.
  • GSTR-2B:- This Return is Recenly lauched by the deptt . it is also an auto populated return. this return represent Input tax credit (Admissable/Blocked) just like 2A but the main difference is it remain constant for a period. now a days it is optional to file but it become mandatory very soon. It would reduce the involvement of time and cumbersome processes to download all the previous month’s statements.It is available for filing on 12th day in every month.
  • GSTR-3B:- Simple Return in which summary of outward supplies along with Input Tax Credit is declared and payment of tax is affected by taxpayer. Due date of Filing this return is 20th/22th/24th (These date are based on States zones bifurcated by the Govt to reduce the Rush on GST Portal on Peak time) of next month. In case of Late filling Interest @ 18% / 24% per annuam & Rs 20 /Rs 50 Late Fees per day may attract.
  • GSTR-4:- This Return for a taxpayer person registered under the composition Schme u/s 10(1) & 10(2A) of GST Act. Now it it to be filed on Annual Basis. Due date to File this Return is 30th april of the Next Financial year which which it Relate. In case of Late filling Interest @ 18% / 24% per annuam & Rs 20 /Rs 50 Late Fees per day may attract. /div>
  • GSTR-5:- This Return is applicable for Non-Resident foreign taxable person with the frequency of monthly basis. Due date of Filing this return is 20th day of next month. In case of Late filling Interest @ 18% / 24% per annuam & Rs 20 /Rs 50 Late Fees per day may attract.
  • GSTR-6:- This Return is applicable for Input Service Distributor with the frequency of Monthly basis. Due date of Filing this return is 13th day of next month. In case of Late filling Interest @ 18% / 24% per annuam & Rs 20 /Rs 50 Late Fees per day may attract.
  • GSTR-7:- This Return is applicable for authorities who deducting tax at source (TDS/TCS). with the frequency of Monthly basis. Due date of Filing this return is 10th day of next month. In case of Late filling Interest @ 18% / 24% per annuam & Rs 200 (100 for CGST & 100 For SGST) Late Fees per day may attract.
  • GSTR-7:- This Return is applicable for authorities who Deducting tax at source (TDS) with the frequency of Monthly basis. Due date of Filing this return is 10th day of next month. In case of Late filling Interest @ 18% / 24% per annuam & Rs 200 (Rs. 100 for CGST & Rs.100 For SGST) Late Fees per day may attract.
  • GSTR-8:- This Return is applicable for supplies effected through e-commerce operator and who is required to Collecting tax at Source(TCS) with the frequency of Monthly basis. Due date of Filing this return is 10th day of next month. In case of Late filling Interest @ 18% / 24% per annuam & Rs 200 (Rs. 100 for CGST & Rs.100 For SGST) Late Fees per day may attract.
  • GST-CMP-08:- This Return is applicable for the Taxable person who opts for Composition Scheme. Due date of Filing this return is 18th day of the Month Succeeding the quarter. In case of Late filling Interest @ 18% / 24% per annuam & Rs 200 (Rs. 100 for CGST & Rs.100 For SGST) Late Fees per day may attract.

These are following types of Special Returns filed under GST :-

  • GSTR-9-Annual Return:- This Return is applicable for Normal Registered Person other than an Input Service Distributor, TDS/ TCS Taxpayer, Casual Taxable Person, & Non Resident Taxpayer and Composition Person.The Due date of Filing of this return is 31st Dec of the Next Financial Year. In Case of Delay in filing, Late Fees of Rs 200 (Rs. 100 for CGST & Rs.100 For SGST) per day may attract.
  • GSTR-9A-Annual Return:- This Return is applicable for taxpayer who is registered under the Composition Scheme anytime during the year. The Due date of Filing of this return is 31st Dec of the Next Financial Year. In Case of Delay in filing, Late Fees of Rs 200 (Rs. 100 for CGST & Rs.100 For SGST) per day may attract.
  • GSTR-9B-Annual Return:- This Return is applicable for E-Commerce Operator who is required to Collect Tax at Source. The Due date of Filing of this return is 31st Dec of the Next Financial Year. In Case of Delay in Filing, Late Fees of Rs 200 (Rs. 100 for CGST & Rs.100 For SGST) per day may attract.
  • GSTR-9C-GST Audit-Reconcilation Statement:- This Return is applicable for all the Registered Person whose aggreegate tournover during the financial year if exceed Rs 2 Cr. This Statement to be Submitted along with GSTR-9/9A. this Statement must be certified by Chartered Accountant. The Due date of Filing of this return is 31st Dec of the Next Financial Year. In Case of Delay in Filing, Late Fees of Rs 200 (Rs. 100 for CGST & Rs.100 For SGST) per day may attract.
  • GSTR-10-Final Return:- This Return is applicable for all Taxable Person whose registration ihas been Surrendered or Cancelled. The Due date of Filing of this return is within 3 Months from the date of Cancellation or date of Order of Cancellation, whichever is earlier. In Case of Delay in Filing, Late Fees of Rs 200 (Rs. 100 for CGST & Rs.100 For SGST) per day may attract.
  • GSTR-11- Returnof Inward Supplies:- This Return is applicable for the Person who have been issued a unique Idantity Number (UIN) e.g Un Mission, All Embasses. The Due date of Filing of this return is within 28th day of the Next Month.

    • Required Documents For GST Return:-

    • GST Login ID & Password.
    • Relevant Transactions Details Like All Sales, Purchases, Services Rendered etc.
    • All Expenss Invoice/Bills/ Cash Memo Whether Tax Invoice or Not, With Bifuraction of Inter State & Intra State.
    • Statement of the Beneficiary in respect of TDS & TCS Deducted/Collected.
    • Digital SIgnature (Madatory In case Of Company & LLP)

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