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GST Return: Who should file? Due Dates and Other Important Dates

Utpala Ghosh -

GST or the Goods and Services Tax has become an integral part of doing business in the current times. The entire business community is getting initiated into the new taxing system. The shift in the norms calls for a complete re-orientation of business practices which is taking some time. Hence, to make it easy for the business owners to understand the nuances of the new taxing system, we have come up with a series of articles on GST.

In this article, we are going to understand everything about GST returns.

What is GST Return?

GST Return is a document that has details of income that a taxpayer is required to file with the tax authorities. Tax authorities calculate tax liability with the help of this return.

GST returns filed by a registered dealer include:

  • Purchases
  • Sales
  • Output GST (on sales)
  • Input tax credit which is calculated on the GST paid on purchases

In order to file GST returns, remember to keep your sales and purchase invoice in proper order.

Who should file GST Returns?

As per GST rules, any regular business has to file two monthly returns and one annual return. This amounts to 26 returns in a year. GST return ( or GSTR ) is a format where a registered taxpayer has to file for each registration separately.

The number of GST filing varies for quarterly GSTR-1 filers and it is 17 in a year.

Composition dealers whose number of GST filings is 5 in a year, have to file separate returns.

CBIC has reported that the government has been receiving several representations to extend the due date for filing Annual Return ( Form-GSTR9) and Reconciliation Statement (Form-GSTR 9C) for 2018-19, beyond 31st October 2020. This is on account of the Covid-19 pandemic related lockdown and restrictions, due to which normal operation of businesses have still not been possible in several parts of the country.

Hence, on the recommendations of the GST council, the government has decided to extend the due date for filing the Annual Return and Reconciliation Statement in the case of Form GSTR9, GSTR 9A, and GSTR-9C). The extension for the financial year 2018-19 has been done from 31st October 2020 to 31st December 2020.

Different types of GST

  • GSTR 2 is a monthly return in which taxpayers give details of inward supply.
  • GSTR 7 is a return to be filed by a person who is required to deduct TDS. It contains a list of TDSs deducted, TDS liability payable and paid, and TDS refund claimed if any, etc. GSTR 4 is an annual return filed by a composition dealer. Unlike a normal taxpayer who has to file 3 monthly returns, a composition dealer has to file only one return by the 30th of April.
  • IGST is collected from the buyer by the seller in an inter-state transaction. Now instead of verifying the GST details of taxpayers manually, you can automate it with GSTIN search API. A GST bill or invoice is a receipt of items sent or services that a seller or service provider offers to a customer.

For taxpayers who had aggregate turnover below Rs 2 crore, the filing of annual return ( Form GSTR/9, GSTR/9A) for 2018-19 is optional. Form GSTR-9 is used by taxpayers to file a GST return every year which contains details on inward and outward supplies under different heads. The filing of Reconciliation Statement in Form-C for 2018-19 is optional for the taxpayers whose turnover is up to Rs 5 crore. A statement of reconciliation, with matching details provided in a GSTR-9 return along with the audited annual financial statements is given in form GSTR 9C.

What are the different types of GST Returns?

A list of all the returns to be filed as prescribed under the GST Law along with the due dates is given below:

1. GSTR-1:

It contains details of outward supplies of taxable goods and/or services affected. It has to be filed monthly and the due date is the 11th of the next month with effect from October 2018 until September 2020.

2. GSTR-3B:

A simple return in which the summary of outward supplies along with input tax credit is declared. This affects the payment of tax by the taxpayer. It has to be filed by the 20th of the next month for taxpayers with an aggregate turnover in the previous financial year of more than Rs 5 crore. The due date is 22nd of next month in category X states/UTs and 24th of next month in category Y states/UTs for the taxpayers with aggregate turnover equal to or below Rs 5 crore.

  • Category X: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, and the Union Territories of Daman and Diu, Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands, and Lakshadweep.
  • Category Y: Orissa, Jharkhand, Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam and West Bengal, and also the Union Territories of Chandigarh, Chandigarh, Jammu and Kashmir, and Ladakh.

3. CMP-08:

It is a statement-cum-challan to make a tax payment by a taxpayer registered under the composition scheme under section 10 of the CGST Act. It has to be filed quarterly by the 18th of the month succeeding the quarter.

4. GSTR-4:

It is a return for a taxpayer and has to be filed annually by the 30th of the month succeeding in a financial year.

5. GSTR-5:

It is a return for a non-resident foreign taxable person and has to be filed monthly by the 20th of the next month.

6. GSTR-6:

It is a return for an input service distributor to distribute the eligible input tax credit to its branches. It has to be filed monthly by the 13th of the next month.

7. GSTR-7:

It is a return for government authorities for tax deducted at source (TDS). It has to be filed monthly by the 10th of the next month.

8. GSTR-8:

It has details of supplies effected through e-commerce operators and the amount of tax collected at source by them. It has to be paid monthly by the 10th of the next month.

9. GSTR-9:

It has been described in detail above.

10. GSTR-10:

It is the final return to be filed by a taxpayer whose GST registration is cancelled and has to be filed within three months of the date of cancellation.

11. GSTR-11:

It has details of inward supplies to be furnished by a person having a Unique Identification Number or UIN, and who is claiming a refund. It has to be filed monthly by the 28th of the month following the month for which the statement is filed.

Also read:
Impact of GST on different sectors
Can GST benefit Salaried People?
Government GST portals and all their details