GST Return Compliance & Filing
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GST Return Filing and Compliances
What is GST return filing?
GST returns have to be filed by all the businesses that are registered under GST. The GST return could be filed monthly, quarterly or yearly depending on the business.
The details that are to be provided must include:
- Sales of goods and services.
- Purchase of goods and services.
- Amount of tax that is collected and paid.
Returns of the supplies, returns of the purchase made, monthly returns, annual returns are the 4 forms that are to be filed by an individual taxpayer for the filing of GST returns.
GST return is a document that contains the details of all the income or the expenses that a taxpayer is supposed to file with the tax administrative authorities. It is mandatory for every entity that has a valid registration under GST registration to file a GST return irrespective of the sales or profit made during the period of filing the returns.
Who should file GST returns?
- An individual who holds a valid GSTIN has to file the GST returns mandatorily.
- An individual who has an annual turnover of more that Rs. 20 lakh has to file the GST returns mandatorily.
- 10 lakh has been set as limit in case of special category states.
Types of GST Return.
Different Types of Returns and their compliances in India
GSTR1
Details relating to outward supplies of the taxable goods and services.
MONTHLY/
QUARTERLY
GSTR-3B
Simple return in which a summary of the outward supplies along with the input tax credit that is declared and the payment of the tax is affected by the taxpayer.
MONTHLY/ QUARTERLY
CMP 08
Statement cum challan to make a tax payment by a taxpayer registered under the composition scheme under Section 10 of the CGST Act.
Quarterly
GSTR4
Returns to be file by the taxpayer that is registered under the composition scheme under Section 10 of the CGST Act
Annually
GSTR-5
Returns to be filed by a non-resident taxable person Registered under GST Act.
Monthly
GSTR-6
To be filed by the input service distributor to distribute the eligible input tax credit
Monthly
GSTR-7
To be filed by the government authorities
Monthly
GSTR-8
Details of the supplies that are affected through e-commerce operators and the amount of tax that is collected at the source by them
Monthly
GSTR-9
Details of the supplies that are affected through e-commerce operators and the amount of tax that is collected at the source by them
Annually
GSTR-9C
Certified Input Credit Reconciliation Statement
Annually
GSTR-10
To be filed by the taxpayer whose GST registration is canceled. Also Termed as Final Return after Cancellation.
Once When Registratation Stands Cancelled
GSTR-11
Details of the inward supplies are furnished by a person who is a UIN holder and also claims a refund
Monthly