GST Return

What Is GST Return ?

Goods and Services Tax is a single indirect tax levied on the supply of goods and services from the manufacturer to the consumer. Input tax credits paid at each stage will be made available in the following stage of value addition. GST is basically a tax levied on value addition at each stage. Therefore, the consumer has to pay only the GST charged by the last dealer or supplier in the supply chain.

Who Should File GST Returns ?

The beauty of the system is that one has to manually enter details of one monthly return – GSTR-1. The other two returns – GSTR 2 & 3 will get auto-populated by deriving information from GSTR-1 filed by you and your vendors.

There are separate returns required to be filed by special cases such as composition dealers .

Different Types of Returns applicable under the new GST Law

Return formWho should file the return and what should be filed?Due date for filing returns
GSTR-1Registered taxable supplier should file details of outward supplies of taxable goods and services as effected.10th of the subsequent month.
GSTR-2Registered taxable recipient should file details of inward supplies of taxable goods and services claiming input tax credit.15th of the subsequent month.
GSTR-3Registered taxable person should file monthly return on the basis of finalization of details of outward supplies and inward supplies plus the payment of amount of tax.20th of the subsequent month.
GSTR-4Composition supplier should file quarterly return.18th of the month succeeding quarter.
GSTR-5Return for non-resident taxable person.20th of the subsequent month.
GSTR-6Return for input service distributor.13th of the subsequent month.
GSTR-7Return for authorities carrying out tax deduction at source.10th of the subsequent month.
GSTR-8E-commerce operator or tax collector should file details of supplies effected and the amount of tax collected.10th of the subsequent month.
GSTR-9Registered taxable person should file annual return.31 December of the next fiscal year.
GSTR-10Taxable person whose registration has been cancelled or surrendered should file final return.Within 3 months of date of cancellation or date of cancellation order, whichever is later.
GSTR-11Person having UIN claiming refund should file details of inward supplies.28th of the month, following the month for which the statement was filed.