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What is GST Return?

A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability.

Under GST, a registered dealer has to file GST returns that includes:

  • Purchases
  • Sales
  • Output GST (On sales)
  • Input tax credit (GST paid on purchases)

To file GST returns, GST compliant sales and purchase invoices are required. You can generate GST compliant invoices for free on ClearTax BillBook.

GST returns

Who has to file GST Returns?

In the GST regime, any regular business has to file three monthly returns and one annual return. This amounts to 37 returns in a year.

The beauty of the system is that one has to manually enter details of one monthly return – GSTR-1. The other two returns – GSTR 2 & 3 will get auto-populated by deriving information from GSTR-1 filed by you and your vendors.

There are separate returns required to be filed by special cases such as composition dealers .

What are the types of GST Returns?

Here is a list of all the returns to be filed under the GST Law.

1. Any regular business:

Return Form Particulars Interval Due Date
GSTR-1 Details of outward supplies of taxable goods and/or services effected Monthly 10th of the next month
GSTR-2 Details of inward supplies of taxable goods and/or services effected claiming input tax credit. Monthly 15th of the next month
GSTR-3 Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of amount of tax. Monthly 20th of the next month
GSTR-9 Annual Return Annually 31st December of next financial year
GSTR-3B Provisional return for the months of July and August Monthly 25th of the next month


GSTR 3B 
is a simple return that businesses need to file in the first two months of GST (July and August, 2017)
. The government has postponed the filing of GSTR 1, 2 & 3 for July and August, 2017 in order to give businesses some time to adjust to GST.

Forms For July 2017 For August 2017
GSTR-3B 25th August 20th September
GSTR-1 1st-5th September 16th-20th September
GSTR-2 6th-10th September 21st– 25th September
GSTR-3 11th– 15th September 26th– 30th September

There is no buyer-seller reconciliation for July & August.

You have 2 options for July 2017-

  • Either file TRAN-1 and claim ITC of previous regime
  • File TRAN-1 later but cannot claim ITC of previous regime in this GSTR-3B
Options Last day of payment of GST Last date of filing GSTR-3B
Registered persons not opting not to file FORM GST TRAN- 1 by 28th August, 2017 25th August, 2017 25th August, 2017
Registered persons opting to file FORM GST TRAN- 1 by 28th August, 2017 25th August, 2017 28th August, 2017

Late fee & Penalty

Filing GSTR-3B is mandatory. Even if a business has no transactions during July, it will still have to file nil return.

If you do not file by 25th/28th August, you will be liable to pay interest and a late fee.

Interest is 18% per annum. It has to be calculated by the tax payer on the amount of outstanding tax to be paid. Time period will be from the next day of filing (26th/ 29th Aug) to the date of payment.

Late fee is Rs. 100 per day. Maximum is Rs. 5,000. This will be calculated by the GST Portal.

2. A dealer opting for composition scheme :

A composition dealer will enjoy the benefits of lesser returns & compliance along with payment of taxes at nominal rates. A composition dealer will file only 2 returns:

Return Form Particulars Interval Due Date
GSTR-4 Return for compounding taxable person Quarterly 18th of the month succeeding quarter
GSTR-9A Annual Return Monthly 31st December of next financial year

3. Returns to be filed by specific registered dealers:

Return Form Particulars Interval Due Date
GSTR-5 Return for Non-Resident foreign taxable person Monthly 20th of the next month
GSTR-6 Return for Input Service Distributor Monthly 13th of the next month
GSTR-7 Return for authorities deducting tax at source. Monthly 10th of the next month
GSTR-8 Details of supplies effected through e-commerce operator and the amount of tax collected Monthly 10th of the next month
GSTR-10 Final Return Once. When 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 refund Monthly 28th of the month following the month for which statement is filed

Since there are so many due dates to remember, here is a GST Calendar:

GST-Calendar

There are prescribed formats for each of the above of the returns. The forms may seem complex and difficult to understand.

Do not worry, you can file your returns very easily using ClearTax GST Software. 

Sign-up now and try it yourself.

 

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All Articles

  1. Let us look at chapter 8 of CGST rules - Returns. This text is taken from http://www.cbec.gov.in/resources//htdocs-cbec/gst/cgst-rules-01july2017%20.pdf
  2. The GST Council has relaxed filing for GSTR 3B for 1st two months post implementation. Here's how to file your returns for these months using form GSTR3B.
  3. Not every business is required to file all the returns and here we are elaborating on which all returns are required to be filed by different business assesses.
  4. A taxable person who opts for cancellation of GST registration has to file a final return under GST law in form GSTR-10 within three months. Read more here
  5. Every taxable person under GST law will be required to furnish an annual return in form GSTR-9 before 31st December of next financial year. Read more here
  6. Under GST, there are specific Rules for Return filing compliance by ecommerce operators and suppliers. Learn about the rules through easy examples here.
  7. E-Commerce Operators Registered under GST are Required to Collect Tax at Source and file GSTR-8 by 10th of next month. Read more here
  8. Every registered taxable person who is required to deduct tax at source under GST shall furnish a return in FORM GSTR-7 by 10th of next month. Read more here
  9. Every taxable person registered as an Input Service Distributor is required to furnish details of input credit distributed in form GSTR-6. Read more here
  10. Every person who has been issued a Unique Identity Number under GST shall furnish the details of supply in GSTR-11 by 28th of the next month. Read more here
  11. Every registered non-resident taxable person is required to furnish a return in GSTR-5 electronically through the GST Portal. Read here to know more
  12. A dealer registered under composition scheme of GST is required to furnish GSTR-4 by 18th of the month succeeding quarter. Read more to understand GSTR-4
  13. Every registered business is required to furnish details of Inward and Outward Supply and make payment of GST in monthly GSTR-3 Return. Read More
  14. According to revised model GST law, every registered taxable person is required to furnish details of Inward Supply for a tax period. Read More on GSTR-2
  15. According to Model GST law, every registered taxable person is required to submit “Details of Outward Supplies” in GSTR-1. This return is required to be filed within 10 days from the end of the tax period. Read More
  16. Tax returns and their due date for filing under the GST Law. Understand which all returns are applicable on your business and what are the filing timelines.