Gst Return Filing

GST return is a form on which the Tax payer registered under GST has to file with the authorities and will include all the above-mentioned details of sales, purchases, tax on sales (output tax), and tax on purchase (input tax). After filing the GST returns, you have to pay the tax due (the amount of money you owe to the government).

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Details about GST Return

The GST return form is the document which is required to be filled by the Taxpayer registered under the GST regime in order to file the return with the concerned Authorities, which will include all the details of your sales, your purchases, the tax paid on your sales (output tax), and the tax paid on your purchases (input tax). After the filing of the GST returns, the tax payment is to be made (the amount to be paid to the Govt).

Persons engaged in normal business operations whose aggregate turnover is in excess of Rs 5 crores in a year (and those opted in QRMP scheme) are supposed to file two returns per month and an annual return. This means that 25 returns will be submitted in an year. Thus, in this way, unlike TCS, this new tax is distinct.

Under this QRMP scheme, the taxpayer whose revenue is not more than Rs. 5 crores is allowed to file tax return. It is mandatory that each year, a QRMP taxpayer is supposed to file a total of nine GSTRs. These include four GSTR-1 forms, along with GSTR-3Bs, which involve a total of three forms, along with an annual return. It is important to note that the taxpayer is supposed to pay taxes on a monthly basis though he or she is supposed to file tax return on a quarterly basis.

There are also other forms/returns which are to be submitted in special cases, like composition dealers, if the number of filings of GSTRs is 5 for each year (4 Statement Cum Chhallans in CMP-08 & 1 Annual Return GSTR-4).

Types of GST Returns & Frequency

Return Form	Description	Frequency	Due Date
GSTR-1	Details of outward supplies of taxable goods &/or services affected.	Monthly	11th of the next month.
GSTR-1		Quarterly (If opted under the QRMP scheme)	13th of the month succeeding the quarter.
IFF (Optional by taxpayers under the QRMP scheme)	Description of B2B supplies that pertain to taxable products and/or services.	Monthly (for the first two months of the quarter)	13th of the next month.
GSTR-3B	Consolidated return for outward supplies along with the input tax credit availed and payment of tax by the taxpayer.	Monthly	20th of the next month.
GSTR-3B		Quarterly (For taxpayers under the QRMP scheme)	22nd or 24th of the month in which it occurs ***
CMP-08	Statement-cum-Challan for making tax payments on account of a taxpayer opting for the Composition Scheme under Section 10 of the CGST Act.	Quarterly	18th of the month succeeding the quarter.
GSTR-4	Return for a taxpayer registered under the composition scheme under Section 10 of the CGST Act.	Annually	30th of the month succeeding a financial year.
GSTR-5	To return to be filed by a non-resident taxable person.	Monthly	20th of the next month. (Amended to 13th by Budget 2022; yet to be notified by CBIC.)
GSTR-5A	Return to be filed by Non-Resident OIDAR Service Providers.	Monthly	20th of the next month.
GSTR-6	Return by an Input Service Distributor for distribution of eligible input tax credit to its branches.	Monthly	13th of the next month.
GSTR-7	Return to be filed by registered persons deducting tax at source (TDS).	Monthly	10th of the next month.
GSTR-8	Return to be filed by e-commerce operators containing details of supplies effected and the amount of tax collected at source by them.	Monthly	10th of the next month.
GSTR-9	Annual return by a regular taxpayer.	Annually	31st December of the next financial year.
GSTR-9C	Self-certified reconciliation statement.	Annually	31st December of the next financial year.
GSTR-10	Final return to be filed by a taxpayer whose GST registration is cancelled.	Once, when the GST registration is cancelled or surrendered.	Within three months of the date of cancellation or date of cancellation order, whichever is later.
GSTR-11	Details of inward supplies to be furnished by a person having UIN and claiming a refund	Monthly	28th day of month following month for which return is filed.
ITC-04	Statement to be filed by a principal/Job-worker about the details of goods sent to/received from a job-worker	Annually (for AATO up to Rs.5 crore) Half-yearly (for AATO > Rs.5 crore)	25th April wherein AATO is up to Rs.5 crore. October 25 and April 25, where AATO is above Rs.5 crore. (AATO = Annual aggregate turnover)

Penal Provisions

If you failed to file GST returns within the prescribed time period, in that case, you are liable to pay an interest charge as well as a late fee.

The rate of interest is 18% per annum. It is to be calculated by the taxpayer for the amount of taxes payable for payment. The term for interest would be from next day of filing to the payment.

For the late fees, the rate is Rs.100 per day for each Act. Accordingly, the total liability will be Rs.100 under CGST Act. Likewise, the liability for SGST Act will be Rs.100. Accordingly, the total for each day will be Rs.200. The total will not exceed Rs.5,000. Please note that w.e.f. the month of/Quarter ended June 2021, the maximum fine will be as follows:

Taxpayer Category	Late Fees
Taxpayers whose total amount of central tax payable is Nil	Rs.250
Those taxpayers having an annual aggregate turnover not exceeding Rs. 1.5 crores in the previous financial year.	Rs.1,000
Taxpayers with an annual aggregate turnover exceeding Rs.1.5 crore and up to Rs.5 crore in the previous financial year	Rs.2,500

Required Information / Documents

Sales Invoices for the reporting period of GST Return
Purchase Invoices for reporting month of GST return
GST Login Credentials

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FAQs

'Nil' return can be filed by you for a particular tax period, if you have not made any outward supply (commonly known as sale) and have NOT received any inward supply (commonly known as purchase) of any goods/ services and do not have any tax liability for that particular tax period.

The GST Law also provides that the return furnished by a taxable person shall not be treated as valid return unless the full tax due as per the said return has been paid. It is only the valid return that would be used for allowing input tax credit (ITC) to the recipient.

The input claimed on the missing invoices by the recipient shall be filed by the seller within the next two tax periods from the input claimed by the recipient. If the same is not filed by the supplier, the input claimed by the recipient shall be reversed with interest and penalty.

The supplier of goods or service is liable to pay GST. However in specified cases like imports and other notified supplies, the liability may be cast on the recipient under the reverse charge mechanism.

If you don't file the GST returns that are required to be filed under the law, then late fees will apply for every day of default that occurs. Further, if there is any tax due, then interest will apply at the rate of 18% per annum on the tax liability.