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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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).
|
Return Form |
Description |
Frequency |
Due Date |
|
GSTR-1 |
Details of outward supplies of taxable goods &/or services affected. |
Monthly |
11th of the next month. |
|
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. |
|
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. |
|
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 |
25th April wherein AATO is up to Rs.5 crore. |
In case of non filing of GST returns within the stipulated time limits, you are liable to pay interest as well as a late fee.
The interest rate is 18% per annum. It is to be calculated by the taxpayer for the amount of taxes due for payment. The period of interest would be from the next day of filing to the payment.
The late fees are Rs.100 per day per Act. Therefore, the total amount shall be Rs.100 under CGST and Rs.100 under SGST. The total charge per day shall be Rs.200, which shall not exceed Rs.5,000. Note that with effect from the month of/quarter ended June 2021, the maximum fine has been revised 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 |
Sales Invoices for the reporting month of GST Return
Purchase Invoices for the reporting month of GST Return
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'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.
