GST Return and Type of GST Return

GST Return and Type of GST Return

A return is a document including details of income which a taxpayer is required to file with the tax authorities. This can help tax authorities to calculate tax liability.

Under GST, a registered dealer has to file GST returns that include:
• Purchases
• Sales
• Output GST (On sales)
• Input tax credit (GST paid on purchases)

To file GST returns sales and purchase invoices are required. In the GST regime any Regular business has to file two monthly returns and one annual return. This amounts to 26 returns in a year.

The number of GST filings vary for Quarterly GSTR-1 filers. The number of GST filings online for them is 17 in a year.

There are separate returns required to be filed by special cases such as Composition dealers whose number of GST filings is 5 in a year.

GSTR 1 for Outward Supply

GSTR 1 shall be furnished for reporting details of all outward supplies (sales) of Goods and Services made in month or quarter as the case may be.

In simple words Sales transaction made during a month or if there is any credit Note or Debit Note then taxpayer shall file such details in GSTR 1

Every registered person is required to file GSTR-1 irrespective of whether there are any transactions during the month or not.

The following registered persons are exempt from filing the return:
• Input Service Distributors
• Composition Dealers
• Suppliers of online information and database access or retrieval services (OIDAR), who have to pay tax themselves (as per Section 14 of the IGST Act)
• Non-resident taxable person
• Taxpayer liable to collect TCS
• Taxpayer liable to deduct TDS

The due dates for GSTR-1 are based on your turnover. Businesses with sales of up to Rs. 1.5 crore have an option to file quarterly returns. Other taxpayers with sales above Rs. 1.5 crore have to file monthly

The Due date of filing return is 10 days from the end of the month for which such return is to be filed and it can be varied by government by notification in official gazette return.

GSTR 2 for Inward Supplies

GSTR-2 contains details of all the purchases of a registered dealer for a month. It will also include purchases on which reverse charge applies. The GSTR-2 filed by a registered dealer is used by the government to check with the sellers’ GSTR1 for buyer-seller reconciliation

The Information contained in GSTR 2 is auto populated with the details contained in GSTR 2A.

Every registered person is required to file GSTR-2 irrespective of whether there are any transactions during the month or not.

However, these registered persons do not have to file GSTR 2
• Input Service Distributors
• Composition Dealers
• Non-resident taxable person
• Persons liable to collect TCS
• Persons liable to deduct TDS
• Suppliers of online information and database access or retrieval services (OIDAR), who have to pay tax themselves (as per Section 14 of the IGST Act)

Due date for Filing GSTR-2 is 15th of next month. There is a 5-day gap between GSTR-1 & GSTR-2 filing to correct any errors and discrepancies.

GSTR 2A Auto-Populated Return

GSTR 2A is auto-populate once supplier file GSTR 1.GSTR 2A is a purchaserelated tax return that is automatically generated for each business by the GST portal.GSTR-2 is an official return which must be filed and it will have the same information as GSTR-2A. But GSTR-2 can be edited.

GSTR-2A is a read only document. All corrections must be done in GSTR-2. The CBIC has notified that taxpayers can claim input tax credit in the GSTR-3B return from February 2020 to August 2020, without applying the rule of capping provisional ITC claims at 10% of the eligible ITC as per GSTR-2A.

GSTR 3B Auto-Populated Return

GSTR-3B is a monthly self-declaration that has to be filed a registered dealer. It is monthly summary return of inward and outward supplies details. It can not be revised. It also helps taxpayer to discharge is liability in timely manner.

Every person who has registered for GST must file the return GSTR-3B including Nil returns.

However, the following registrants do not have to file GSTR-3B
• Input Service Distributors & Composition Dealers
• Suppliers of OIDAR
• Non-resident taxable person

Due dates of GSTR 3B

Taxpayers with aggregate turn over – 20, JAN 2021
More than Rs 5 Crore

Taxpayers with aggregate turn over – State 1: 22, JAN 2021
Up to Rs 5 Crore State 2: 24, JAN 2021

• State 1 Group (Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra,
Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman &
Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands,
Lakshadweep)

• State 2 Group (Himachal Pradesh, Punjab, Uttarakhand, Haryana,
Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland,
Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand,
Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi)

GSTR 4 For Composition Scheme

GSTR-4 is a GST Return that has to be filed by a composition dealer who has opt for this scheme. A dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4 once in a year by 30th of April following a financial year. GSTR 4 cannot be revised after filing on the GSTN Portal.

Under this scheme small taxpayers having turnover up to 1.5 Cr. Needs to pay tax at fixed rate and file quarterly return. It also covers the special composition scheme notified for the service providers vide the CGST notification number 2/2019 dated 7th March 2020 with effect from FY 2019-20.

The due date for filing GSTR 4 is 30th of April following the relevant financial year.

GSTR 5 For Non-Residents

Non-Resident foreign taxpayers are those suppliers who do not have a business establishment in India and have come for a short period to make supplies in India. Such a person is required to furnish details of all taxable supplies in GSTR5 for the period during which they carry out business’s transactions in India.

In other words, this person does not have any fixed place of business in India. He/she supplies goods occasionally.

It will contain all business details for non-resident including the details of sales & purchases. Information from GSTR-5 will flow into GSTR-2 of buyers.

This return is to be filed within a week following the expiry of their GST registration (if the return is filled for a period less than 30 days) or to be filed monthly before 20th of the following month if their registration extends over a period of several month.

GSTR 6 For Input Service Distributor

GSTR 6 is a monthly return that has to be filed by an Input Service Distributor. It contains details of ITC received by an Input Service Distributor and distribution of ITC. GSTR 6 contains details of all the documents issued for distribution of Input Tax Credit and the manner of distribution of credit and tax invoice on which credit is received.

In Other words, it gives summary of total input tax credit available for distribution during a month. GSTR 6 has to be filed by every ISD even if it is a nil return.

The due date for filing of GSTR 6 as per GST Act is 13th of next month and Late fees have been reduced to Rs. 50 per day. There is no provision under GST for revising GSTR 6. Any mistakes made in the return can be corrected while filing GSTR 6 of the following month.

GSTR 6A for Automatic Generated

GSTR 6A is an automatically generated form based on the details provided by the suppliers of an Input Service Distributor in their GSTR 1. GSTR-6A is a readonly form. Any changes to be made in GSTR-6A have to be done while filing GSTR-6.

You can view GSTR-6A by going to the Return Dashboard on the GST Portal and clicking on ‘PREPARE ONLINE’ on GSTR6A tile.

GSTR 7 For TDS Return

GSTR 7 is a return to be filed by the persons who is required to deduct TDS (Tax deducted at source) under GST. GSTR 7 contains the details of TDS deducted, TDS liability payable and paid, TDS refund claimed if any etc.

As per GST law following people/entities need to deduct TDS:

  1. A department or establishment of the Central or State Government, or
  2. Local authority, or
  3. Governmental agencies, or
  4. Persons or category of persons as may be notified, by the Central or a
    State Government on the recommendations of the Council.

As per Notification No. 33/2017 – Central Tax, 15th September 2017

The following entities also need to deduct TDS

  1. An authority or a board or any other body which has been set up by
    Parliament or a State Legislature or by a government, with 51% equity
    (control) owned by government
  1. A society established by the Central or any State Government or a Local
    Authority and the society is registered under the Societies Registration Act, 1860
  2. Public sector undertakings

The above diductor are required to TDS where the total value of supply exceeds Rs 2.5 Lakhs. The rate for TDS is 2% (CGST 1% + SGST 1%) in case of intra state supply and 2 % (IGST) in case of interstate supplies. However, the TDS will not be deducted when the location of the supplier and place of supply is different from the registration place (State) of the recipient.

The details of TDS deducted is available electronically to each of the deductees in PART ‘C’ of Form GSTR 2A after the due date of filing of Form GSTR 7. Also, the certificate for such TDS deducted shall be made available to the deductee in Form GSTR 7A on the basis of return filed in GSTR 7.

Filing of GSTR 7 for a month is due on 10th of the following month. If the GST return is not filed on time, then penalty of Rs 100 under CGST & Rs 100 under SGST shall be levied. The total will be Rs. 200/day. The maximum is Rs. 5,000 There is no late fee on IGST in case of delayed filing.

Along with late fee, interest has to be paid at 18% per annum. It has to be
calculated by the taxpayer on the tax to be paid. The time period will be from the next day of due date of filing to the date of payment. GSTR 7 once filed cannot be revised. Any mistake made in the return can be revised in the next month’s return.

GSTR 8 For TCS Return

GSTR-8 is a return to be filed by the e-commerce operators who are required to deduct TCS under GST. GSTR-8 contains the details of supplies effected through e-commerce platform and amount of TCS collected on such supplies. Every ecommerce operator registered under GST is required to file GSTR-8.

E-commerce operator has been defined under GST Act as any person who owns or manages a digital or electronic facility or platform for electronic commerce such as Amazon, Flipkart, E-bay etc. All such e-commerce operators are mandatory required to obtain GST registration as well as registered for TCS (Tax collection at source).

E-commerce operator is any person who owns or manages the digital or
electronic facility or platform for electronic commerce such as Amazon, Flipkart, etc. The e-commerce operator provides a platform whereby the sellers can reach out to a number of customers by getting registered online on their platform. Customers also get benefits as they get access to multiple sellers and competitive prices for the desired product.

GSTR-8 shows the details of supplies through the e-commerce platform and the amount of TCS collected on such supplies. The supplier can take the input credit of such TCS deducted by the e-commerce operator after filing of GSTR-8 by the e-commerce operator. The amount of such TCS will be reflected in Part C of Form GSTR-2A of the supplier.

GSTR-8 filing for a month is due on 10th of the following month. if the GST
return is not filed on time, then a penalty of Rs 100 under CGST & Rs 100 under SGST shall be levied per day. The maximum is Rs. 5,000. There is no late fee on IGST in case of delayed filing. Along with late fee, interest at 18% per annum has to be paid. It has to be calculated by the taxpayer on the tax to be paid. The time period will be from the next day of filing to the date of payment.

GSTR 9 Annual Return

GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. It consists of details regarding the outward and inward supplies made or received during the relevant financial year under different tax heads i.e., CGST, SGST & IGST with HSN codes.

GSTR-9 is divided into 6 parts and 19 sections. Each part asks for details that are easily available from your books of accounts and return filed in relevant financial year. In other word’s this form asks for disclosure of annual sales and the annual value of inward supplies and ITC availed thereon is to be revealed.

Furthermore, these purchases have to be classified as inputs, input services, and capital goods. Details of ITC that needs to be reversed due to ineligibility is to be entered.

It is a consolidation of all the monthly or quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year. Though complex, this return helps in extensive reconciliation of data for 100% transparent disclosures. The due date to file GSTR-9 for relevant financial year is 28th February.

All taxpayers registered under GST must file their GSTR 9. However, the
following are not required to file GSTR 9

• Taxpayers opting composition scheme (They must file GSTR-9A)
• Casual Taxable Person
• Input service distributors
• Non-resident taxable persons
• Persons paying TDS under section 51 of CGST Act.

GSTR 9A Annual Return for Composition Scheme

GSTR 9A shall be filed by taxpayer who have opt for composition scheme. It
includes all the information required to furnish in quarterly return filed by
taxpayer during the financial year.

All taxpayers registered under the composition levy scheme under GST should
file GSTR-9A.
However, the following persons are not required to file this:
• Non-resident taxable persons
• Input service distributor
• Casual Taxable Person
• Persons paying TDS under section 51 of the Act
• E-commerce operator paying TCS under section 52 of the Act

GSTR-9A has to be filed on or before 31st December. The annual return also
serves a useful purpose of rectifying mistakes committed at the time of filing GSTR 4. All information disclosed in GSTR 9 must be cross-checked with the books of accounts and the Form GSTR 4 filed for the period. It must be noted that additional tax liability not declared in Form GSTR 4 can be declared in GSTR 9A and tax can be paid voluntarily along with interest in Form DRC-03.

GSTR 9A Reconciliation Statement & Certification

Every registered person whose aggregate turnover during a financial year
exceeds two crore rupees shall get his accounts audited as specified under subsection (5) of section 35 of the CGST Act, and shall furnish a copy of the audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR9C.

GSTR 9C made optional for small taxpayer (Turnover up to Rs 2 Cr.) For financial year 2019-2020.

GSTR-9C is a statement of reconciliation between:
• the Annual Returns in GSTR-9 filed for a FY, and
• the figures as per the audited annual Financial Statements of the taxpayer.

It can be considered to be similar to that of a tax audit report furnished under the Income-tax act. It will consist of gross and taxable turnover as per the Books reconciled with the respective figures as per the consolidation of all the GST returns for an FY.

Hence, any differences arising from this reconciliation exercise will be reported here along with the reasons for the same. The certified statement shall be issued for every GSTIN. Hence, for a PAN there can be several GSTR-9C forms to be filed.

GSTR-9C must be prepared and certified by a Chartered Accountant or Cost
Accountant. It must be filed on the GST portal or through a facilitation centre by the taxpayer, along with other documents such as the copy of the Audited Accounts and Annual Return in form GSTR-9.

GSTR 10 for Cancellation of registration

A taxable person whose GST registration is cancelled or surrendered has to file a return in the form of GSTR-10. This return is called as final return. GSTR 10 must be filed within three months from the date of cancellation or date of cancellation order whichever is later.

It should be noted that GSTR 10 is required to be filed only by the persons
whose registration under GST has been cancelled or surrendered. The regular persons registered under GST are not required to file this return.

If the GSTR 10 is not filed within the due date, a notice will be sent to the such registered person. The person will be given 15 days’ time for filing the return with all the documents required. If the person still fails to file the return, the tax officer will pass the final order for the cancellation with the amount of tax payable along with interest/penalty.

GSTR 11 for UIN Holder

GSTR-11 is the return to be filed by the persons who has been issued a Unique Identity Number (UIN) in order to get refund under GST for the goods and services purchased by them in India.

UIN is a special classification made for foreign diplomatic missions and
embassies who are not liable to taxes in Indian territory.

The following organizations can apply for a UIN:

• A specialized agency of the United Nations Organization
• A Multilateral Financial Institution and Organization notified under the
United Nations (Privileges and Immunities) Act, 1947,
• Consulate or Embassy of foreign countries
• Any other person or class of persons as notified by the Commissioner.

The above persons/organizations can apply for UIN using Form GST REG- 13. The purpose of issuing UIN is that any amount of tax collected from the bodies or person holding UIN is refunded back to them. But in order to claim the refund of GST paid by them, they need to file GSTR 11. GSTR 11 must be filed by the 28th of the month following the month in which inward supply is received by the UIN holders.

read more at What is Udyam Registration?

read more at Digital Calendar 2021 From Income Tax Department

Disclaimer: The content of this article is intended to provide a knowledge of the subject matter. Suggestions and feedback to improve the task are welcome. The article and opinions therein are based on my understanding and interpretation of the law and provisions prevailing as on date. The contents of this article are for information purposes only and does not constitute an advice or a legal opinion. The opinion may vary according to one’s interpretation of the law. We love to hear your feedback at gadhiaandassociates@gmail.com

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