What is GST Return?
A GST Return is a document containing all the details related to Income, payments, and GST invoices, of the taxpayer for a specific period. Business or individuals is liable to file with the tax administrative authorities. The Tax authorities will use the tax deceleration to calculate the amount of tax to be paid by the business.
The Tax Payer can file GST Return online on the official portal provided by GST Number.
During GST returns filing, the registered dealer requires the following details for the concerned period that include:
- Total purchases.
- Total sales.
- Output GST (GST paid by customers.)
- ITC or Input Tax Credit (GST paid by the business for purchases.
Once GST is Filed, a registered dealer can check the GST filing status online and comply with the requirements accordingly.
GST Returns Form and Due Dates
A taxpayer also needs to understand and select the right GST form before proceeding with the GST return filing process. There are 11 types of GST returns Form used for return filling in a different scenario and due date. For example, you will have to file Gstr-1 by the 10th of every month in case you are filing details of outward supplies of taxable goods. Once you have the complete required information and know your GST number, select the appropriate GST form and file GST return online before the due date.
GSTR 1 — Provide details of taxable goods or services, or both as well as that of outward supplies. It is Filed Monthly before the Due Date 11th of the next month.
GSTR-3B —It is a Simple Return in which summary of outward supplies along with Input Tax Credit is declared and payment of tax is affected by taxpayer. It is filed Monthly before the Due Date 20th of the next month.
GSTR 4 — Provide the details related to Quarterly Return filing, specifically for compounded tax liabilities of specific individuals. It is filed Quarterly before the Due Date 18th of the month succeeding quarter.
GSTR 5 — It Includes the details of GST return filing for non-resident foreign individuals. It is filed Monthly before the Due Date 20th of the next month.
GSTR 6 — Serves as the form for Input Service Distributors to file returns. It is filed Monthly before the Due Date 13th of the next month.
GSTR 7 — Serves as the form facilitates Return filing for authorities initiating TDS. It is filed Monthly before the Due Date 10th of the next month
GSTR 8 — Carries supply details for e-commerce operators along with the tax amount collected as per sub-section 52. It is filed Monthly before the Due Date 10th of the next month
GSTR 9 — Serves as the form to file Annual Returns. Annually 31st December of next financial year GSTR 9A Includes details to file Annual Returns relative to Compounding taxable individuals registered u/s 10. It is filed Annually before the Due Date 31st December of next financial year
GSTR-10 — It is filled Once, when surrendered or cancelled GST Registration. It is a Final Return and must be filled Within three months of the date of cancellation or surrender of GST Registration.
GSTR-11 — Details of inward supplies to be furnished by a person having UIN and claiming a refund Monthly 28th of the month following the month for which statement is filed
