GST Returns

GST Returns

From 1st July 2017 the GST Act has been implemented in India. All the entities having GST registration should be filing the GST returns. GST return filing is mandatory for all entities having GST registration, irrespective of business activity or sales or profitability during the return filing period. Even a dormant business having a GST registration should be file GST returns.The entities having the GST no are required to file GSTR-1 (details of outward supplies) on the 10th of each month, GSTR-2 (details of inward supplies) on the 15th of each month and GSTR-3 (monthly return) on the 25th of each month.

If the entities registered under the GST composition scheme are required to file GSTR-4 every quarter, on 18th of the month next to the quarter. Finally, annual GST return must be filed by all GST registered entities on/before the 31st of December.

Return Form Particulars Frequency Due Date
GSTR-1 For outward supplies of taxable goods or taxable services Monthly 10 th of Next Month
GSTR-2 For inward supplies of taxable goodsor taxable
services effected claiming input tax credit
Monthly 15 th of Next Month
GSTR-3 Monthly return on the basis of details of outward
& inward supplies along with the payment of amount of tax.
Monthly 20 th of Next Month
GSTR-4 This is for compounding taxable person Quarterly 18th of the month succeeding quarter
GSTR-5 Return for Non-Resident foreign taxable person Monthly 20th of the next month
GSTR-6 Return for Input Service Distributor Monthly 13th of the next month
GSTR-7 Return for authorities deducting tax at source. Monthly 10th of the next month
GSTR-8 The supplies effected through e-commerce operator and the amount of tax collected Monthly 10th of the next month
GSTR-9 Annual Return Annually 31st December of next financial year
GSTR-9A Annual Return Annually 31st December of next financial year
GSTR-10 Final Return When registration is cancelled Within three months of the date
of cancellation
GSTR-11 Details of inward supplies to be furnished by a person having UIN and claiming refund Monthly 28th of the month following the month for which statement
is filed

Late filling and charges

  • In the GST act every entity should be file GST return every month even if there is no transaction.
  • In the GST the entity cannot file the succeeding month return without file the previous month return.
  • In the GST act the interest should be levy 18% per annum of the tax amount is outstanding.
  • The late fee is Rs 100 per day and this is for applicable for seprate-2 in CGST and SGST.
  • Late Fee for filing GSTR-1, GSTR-3B, GSTR-4, GSTR-5 & GSTR-6 after the due date has been reduced to Rs. 50 per day of delay.
  • Late fee for filing NIL returns have been reduced to Rs. 20 per day of delay for taxpayers(i.e having Nil tax liability for the month) for GSTR-1, GSTR-3B and GSTR-4 GSTR-5.