What are GST Returns?

Last modified on : February 3rd, 2024 at 11:32 am

What are GST Returns?

It is a type of form that taxpayers who are registered under the GST law must file for every GSTIN that has been registered. Moreover, the GSTIN status should also be active if the taxpayer regularly files for the GST return.

The type of GST return filed by a business is mostly dependent on the type of the registered taxpayer. Among the many, few of the commonly registered taxpayers are regular taxpayers, e-commerce operators, composition taxable persons, non-resident taxpayers, TDS deductors, Input Service Distributors (ISD), casual taxable persons, etc.

Different Types of GST Returns and Their Due Date

  1. GSTR-1

    It is a type of return designed to report details on all outward supplies of goods and services being made. So, the monthly returns reflect the sales transactions of a business on that specific month.

    All registered taxpayers under the GST needed to file GSTR-1 every month. This return shows the details of debit notes, credit notes, invoices, and revised invoices, related to the outward supplies.

    For filing the return, the normal due date is 10 days from the month’s end. But, this due date can be extended by the commissioner for all registered taxpayers beyond the specified due date. The actual reason will be notified for this extension.

  2. GSTR-2A

    This is a read-only document, that gets auto-populated when the supplier uploads its details in the GSTR-1. GSTR-2A, in other words, lets the recipient verify the information uploaded by the supplier in GSTR-1. Additionally, the supplier can accept, reject, modify, or keep the pending invoices by using the said details. Although, these changes are done by the recipient in GSTR-2.

    This document is available to all registered taxpayers who file for return under GST. The reason is, it is a read-only document that gets auto-populated from the details that were uploaded by suppliers in GSTR-1.

    Since it is a read-only document, so, the taxpayer only validates the information made by the supplier in the GSTR-1. If there is any mismatch of the information, then the recipient can make those certain changes in the GSTR-2. The due date for making those changes is between the 11th and 15th of the succeeding month, for which the return needs to be filed.

  3. GSTR-2B

    It is also a view-only static return crucial for the recipient of the goods and services. It is presented monthly since August 2020 and has constant ITC data for a significant past period. The ITC details are available from the GSTR-1 filing date of the previous month, till the filing of the GSTR-1 of the current month. This return is available on the 12th of every month thus providing enough time for filing GSTR-3B.

  4. GSTR-3B

    This form is a simplified summary of the inward and outward of the supplies that are done monthly. This self-declaration document is the summary of the GST taxpayer’s liabilities for the tax period that is in question. It also helps the taxpayer in discharging the liabilities on time. Both the supplier and the recipient file the GSTR-3B form separately, which avoids delays in filing and thus prevents paying late fines and interests.

    All registered taxpayers are required to file GSTR-3B, however, they can also file during the tax periods when the tax liability is zero.

    The due date for submitting the GSTR-3B is on the 20th of the succeeding month. However, if there are no transactions made in the previous month, then the registered person must file a NIL return for that specific period.

  5. GSTR-4

    This form is a quarterly form that is needed to be filed by the registered taxpayer who has signed for the Composition Scheme. According to this scheme, taxpayers have a turnover of up to Rs. 1.5 crores need to pay a fixed-rated tax and need to file returns every quarter.

    The main purpose of introducing the GSTR-4 is to reduce the compliance burden on the smaller taxpayers.

    The due date for filing GSTR-4 is the 18th of the filing month. Say, for example, April 18th, 2023, is the due date for the quarter from January to March 2023.

  6. GSTR-5

    This is a monthly return that all non-resident taxpayer needs to file. The following details related to this return are as follows:

    • Inward supplies
    • Outward supplies
    • If any, interest, penalties, or fees
    • Tax payable or tax paid or
    • Any amount payable under the law.

    Note that this is the only return that the non-resident needs to file. Hence, there are no other returns required to file by any non-resident taxpayer.

    The GSTR-5 return needs to be filed on the 20th of every month under GSTIN that the taxpayer is registered.

  7. GSTR-5A

    This includes a summary return of the outward taxable supplies and tax payable by the Online Information and Database Access or Retrieval Services (OIDAR) provider under GST.

    The returns filing due date of GSTR-5A is the 20th of every month.

  8. GSTR-6

    This is a monthly return that needs to be filed every month by the Input Service Distributor (ISD). It deals with the details related to input tax credits received and distributed by ISD. Further, it contains information on the document issued for the distribution of input credit and the distribution manner.

    The due date for filing GSTR-6 is the 13th of every month.

  9. GSTR-7

    This is a monthly return that is filed to deduct TDS, under the GST system. It will have the details of the TDS deducted, TDS liability payable and paid, and TDS refund claimed.

    The due date for this return is the 10th of every month.

  10. GSTR-8

    This is a monthly return to be filed by the e-commerce operators who are responsible to collect tax at source. It has the details of all the supplies through the e-commerce platform and the TCS collected.

    The GSTR-8 return is to be filed by the 10th of every month.

  11. GSTR-9

    It is an annual return that is filed by the taxpayers registered under the GST. It has all the details of the outward supplies made, and inward supplies received in the financial year for different taxes like CGST, SGST, and IGST, and a summarized value of supplies for every HSN code with details of taxes and tax paid.

    This is a collaboration of all monthly and quarterly returns that were filed during the financial year. GSTR-9 must be filed by all taxpayers who are registered under the GST.

    However, few taxpayers are exempted from filing the GSTR-9 return who have opted for the composition scheme, input service distributors, casual taxable persons, individuals paying taxes under section 51 of the CGST act, and non-resident taxable persons.

  12. GSTR-9A

    This is presently a suspended annual return that was required to be filed by the composition taxpayers. It had an accumulation of all the quarterly returns that were filed during the financial year.

    From the time GSTR-4 was introduced, this return got shelved.

  13. GSTR-9C

    It is a certified reconciliation statement between the books of accounts and the GSTR-9 that is filed by taxpayers with annual revenue exceeding Rs. 5 crores. The due date is the same as GSTR-9. GSTR-9C needs to be filed for every GSTIN, hence one PAN can consist of multiple GSTR-9C filings.

  14. GSTR-10

    This return is filed by the person whose registration got canceled or surrendered. This is also known as the final return and must be filed within 3 months from the cancelation date or order, whichever is earlier.

  15. GSTR-11

    GSTR-11 needs to be filed by those who have been issued a Unique Identification Number (UIN) to get a refund under GST for the goods and services purchased in India. It showcases the details of the inward supplies received and the refund claimed.

What Happens During Late Filing of GST Returns?

Filing a return under the GST is mandatory even if there is no transaction. In such cases, the taxpayer needs to file a Nil return.

Keep a note of the certain points

  • One cannot file a return for a month if the taxpayer did not file for the previous month/quarter.
  • So, late filings will have a falling effect on the taxpayer due to imposing heavy fines and penalties.
  • The penalties and fines of the GSTR-1 are shown on the liability ledger of GSTR-3B which needs to be filed immediately after delay.

Details on The Interest and Late Fees That Is to Be Paid

  • The interest levied is 18% per annum. This interest is calculated on the outstanding tax amount that is there to be paid. It needs to be calculated on the net tax liability that is mentioned in the ledger during the time of payment. The period is from the next day of the due date till the actual date of payment.
  • According to the CGST Act, the late fee fine is Rs. 100 per day per act. So, the scenario is Rs. 100 under CGST, and Rs. 100 under SGST, which summed up to Rs. 200 per day. But it should be noted that the maximum fee levied is Rs. 5000 per Act. There are no late fines for IGST Act. For the return of GSTR-9/9C, the maximum late fee to be applied is 0.25% of the turnover in the state or Union Territory.
  • The late fee amount can also be reduced based on the relief schemes introduced by the government.

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