What is GST Return Filing

It has been a year since GST has been brought into enforcement. As we all know GST, i.e. Goods and Services Tax has made a huge change in the indirect tax regime of India. Instead of multiple indirect taxes, we only have to pay a single GST on a supply of goods and services. GST has simplified the indirect tax regime in India. GST is levied on a number of products and services. All the individuals or businesspeople that are registered under the GST Act have to provide the details of the sales and purchases of their goods and services along with the details of tax collected and paid. This information can be provided by GST Return filling.

GST Forms

S. No.

GST Form

Details

1.

GSTR-1

Monthly statement of Outward supplies of goods and services by all registered taxpayers, this has to be filed by 10th day of month, you can also opt for quarterly filing, this has to be submitted every month even if there no business activity (GST Nil Return Filling) in the tax period, you have to mention every detail regarding outward supplies whether it is credit or debit.

2.

GSTR- 1A

Addendum to form GSTR-1

3.

GSTR -2

All Registered taxable recipient should file details of inward supplies of taxable goods and services claiming input tax credit. The due date for this form is the 15th day of next month; you have to mention all inward entries whether it is credit or debit.

4.

GSTR-2A

Draft statement of inner supplies

5.

GSTR-3

It is auto prepared form which is prepared by 20th day of next month, it will have all details of inward and outward services as mentioned in GSTR-1 and GSTR-2, and it will determine your payable tax amount.

6.

GSTR-3B

Simplified summary return (declares the taxpayer’s summary GST liabilities for tax period and discharge of these liabilities in timely manner)

7.

GSTR-4

Return for compounding taxable person, it has to be filed quarterly

8.

GSTR-4A

Auto drafted and read only form and is auto created on basis of details provided in GSTR-1/5 and filed form GSTR-7

9.

GSTR-5

Return to be filed by nonresident tax payer if they do not wish to avail input tax credit on local procurements. It has to be file every month, due date is 20th of the next month

10.

GSTR-5A

Return to be furnished by online information and database access or retrieval services provider of the services provided to unregistered person or customer from a place outside India to person in India

11.

GSTR-6

Monthly return to be filed by all input service distributor’s for distribution of input tax credit amongst its units. Only those who registered as input service provider needs to file this form

12.

GSTR-6A

System generated draft of statement of inward supplies for a receiver taxpayer, it is a read only form, and you cannot take action against in this form. After submission of GSTR-1 by counterparty you will able to see this.

13.

GSTR-7

Return for authorities carrying out tax deduction at source

14.

GSTR-8

E commerce operator or tax collector filling details of supplies effected and amount of tax collected

15.

GSTR-9

Annual return which has to file by 31st December. It has all 12 month accumulation of GSTR-3

16.

GSTR-10

Final return of person whose registration has been cancelled or surrendered

17.

GSTR-11

Details of inward supplies by a person having unique identification number, it has to be filed quarterly basis

Conclusion

All said and done; you can file your GST online for which you have to visit the official website. During filing of GST, you have to choose from the number; types of forms are above mentioned. If you are registered under GST, then you should pay on or before the due date.

This is Anurag Jain, CMO at MyOnlineCA ( India's leading Online Legal Service Provider Company deals in Company and Tax Registration across India.