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All registered businesses have to file monthly, quarterly and/or annual GST Returns based on the type of business . In this article, we cover the following topics:

  1. What is GST Return?
  2. Who has to file GST Returns?
  3. What are the types of GST Returns?
  4. Late Fees for not Filing Return on Time

GST returns

1. 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 Return

2. 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 .

3. What are the types of GST Returns?

Here is a list of all the returns to be filed under the GST Law along with the due dates.

3.1. 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 to December 2017 Monthly 20th of the next month

 

3.2. 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

3.3. 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

Here is a video to understand who should file GST Return and why should it be filed –

 

4. Late Fees for not Filing Return on Time

If GST Returns are not filed within time, 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 per Act. So it is 100 under CGST & 100 under SGST. Total will be Rs. 200/day. Maximum is Rs. 5,000. There is no late fee on IGST.

 

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. GSTR-4 Filing, Format, Eligibility & Rules
  2. GSTR-3A is a notice sent by the tax authorities to defaulters who do not file their GST returns.
  3. To modify, add or delete details in invoices entered on GST Portal one can download and make changes GSTR 1 and upload it on the GST website. Here is how
  4. GSTR 2A is a return containing details of all the inward supplies, TDS and TCS. GSTR 2A is auto-populated based on the following -
  5. ClearTax has come across many queries and error messages received by taxpayers and compiled a few of filing GSTR 1 common errors.
  6. This article will help you understand whether a dealer with ZERO outward supplies is required to file GSTR 1 return and how to file a NIL GSTR 1 return.
  7. GSTR-2A is an automatic return generated for a taxpayer from his seller’s GSTR-1.
  8. GSTR-1A is a document containing changes made to sales invoices reported in GSTR-1 which was filed earlier.
  9. GSTR 1 is a monthly GST return that contains details of all outward supplies. This is a step-by-step guide on how to file GSTR 1 on the GST Portal.
  10. 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
  11. 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.
  12. 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.
  13. 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
  14. 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
  15. Under GST, there are specific Rules for Return filing compliance by ecommerce operators and suppliers. Learn about the rules through easy examples here.
  16. 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
  17. 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
  18. 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
  19. 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
  20. 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
  21. 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
  22. 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
  23. 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
  24. 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
  25. 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.