GST return is a form that furnishes all the purchases, sales, tax paid on purchases, and tax collected on sales-related details. On the basis of this return Tax authorities calculates total tax liability. This forms are filed on monthly , quarterly and annually on the basis of their total sales or opted options. There are many types of GST returns which a taxpayer has to filed on the basis of category in which they Fall. GST return is to be filed by all the business who are registered under GST or Who falls under GST registered slab. Registered dealers who sales and purchase Good & Services and Charge output GST on invoice and claim input tax credit of their purchase need to file GST return.
"One things you have to take in mind while preparing or raising any GST invoice . Invoice should Include Invoice number not more than 15 digits ,Invoice date, Invoice mentioning "TAX Invoice on TOP " , Place of business and place of supply, GSTN of self and second party, HSN or SAC code , GST rate ."
Types of GSTR
- GSTR 1 - It shows details of all outward supplies whether taxable or exempt done by a taxpayer in a month or quarter ( if opted for QRMP-Quarterly return filing and Monthly Tax Payment scheme). Due date is 11th of every next month. for example due date of April month GSTR 1 will be before 11th of May.
- GSTR 2A- It is a read only documents which shows details of total taxable inwards in a month . Due date is 15th of every next month.
- GSTR 3B - Summary of inward and outward supplies in a month or quarter & if any liability occurs the to pay by challan. Due date is 20th of next month or in case of quarter system 20th of next month of quarter. for example due date of April to June quarter will be before 20th of July.
- GSTR 4 - Return for composite dealers. Taxpayer whose annual turnover is not more than 75 crore can registered themselves under Composite scheme . Due date is 18th of next month of quarter . for example due date of April to June quarter will be before 18th of July.
- GSTR 5 - Return for non resident taxable person. Due date is 20th of next month.
- GSTR 6 - Return for Input service Distributor . Due date 13th of next month.
- GSTR 7 - Return for taxpayers who required to deduct TDS( Tax deducted at Source ). Due date 10th of next month.
- GSTR 8 - Return to be furnished by e commerce who is required to deduct TCS( Tax collect at Source). Due date 10th of next month.
- GSTR 9 - Annual return for normal registered tax payers whose annual turnover is more than 2 crore in a year. Due date 31st December of next financial year.
- GSTR 9C - Annual return for taxpayers who required to get their account audited by CA ( Chartered Accountant) or whose turnover is more than 5 crore in a year. Currently no need to get account audited by CA( Chartered Accountant) . Self declaration will enough. Due date 31st December of next Financial year.
- GSTR 10- Also Known as final return . It is filed by the tax payers who have surrendered their GST registration or their GST registration is got cancelled. Due date is before 3 months of cancellation.
- GSTR 11 - Return for Unique Identification Number Holders. Due date is 28th of next month in which inward supplies received.
Penalty for Late filing of GSTR
Penalty/late fee is levied on taxpayers who failed to file returns on time. As per law penalty will be Rs. 100 each CGST & SGST every day upto Rs. 5,000. However this rate is subject to change which will be announced through notifications.
How to File GSTR online
All taxpayers has to filed their GSTR every month, quarter or on yearly basis. However under new GST regime, filling return has become automated. You can file GSTR by a software or manually online. To file GSTR you need to need to follow Following steps-
- First of all go to website "www.gst.gov.in"
- Then login with your login ID & password which have made at the time of GST Registration
- Go to return tab and select the month for which you have to file return
- Then Select GSTR 1
- You can upload invoice offline or manually by online method
- Once all invoice uploaded ,check it with your outward supplies report.
- Check for any Credit or debit note
- After validation file your GSTR 1 by DSC or EVC method
- After that check for your inward supplies in GSTR 2b and match it with tour inwards reports
- After that go to GSTR 3b , all data will be uploaded automatically.
- Check and validate with your records.
- Check for Tax liability.
- Now pay Tax Liability by Credit ledger or pay by cash.
- After successful payment , file it with DSC or EVC method
You can Download your GSTR by following Steps-
Stage 1: Use your Login ID & Password to sign in to the web-based GST gateway at https://www.gst.gov.in/.
Stage 2: Click on the 'Services' tab from the top menu.
Stage 3: Navigate to 'Returns Dashboard' under the 'Returns' choice.
Stage 4: In the following page, select the year and the return documenting period from the separate drop-down boxes.
Stage 5: Click on the 'Search' button and select the GSTR that you need to download.
Stage 6: Click on the 'Download Offline' button under the chose GSTR.
Stage 7: Navigate to the 'Download' choice and snap on 'Create File'.
Stage 8: As per rule, the request for generation takes around 20 minutes.
Stage 9: Once the document is produced, a download link will be created. Click on the 'Click Here' choice to download the ZIP document containing your GST Returns.
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