Filing of GST Return

What is GST?

Goods and Services Tax or GST is an indirect tax that came into being on 1st July 2017. GST replaced various taxes, which were implemented by the Central and State Government.

What is GST Return and who is supposed to file it?

GST return is a document that is filed by the dealers, who are registered under GST Act. A GST Return includes the details mentioned-below: -

• Sales made by the registered dealer
• Purchase made by the registered dealer
• Output GST on sales of goods and services
• Input Tax Credit or ITC on purchase of goods and services

In order to file GST return, the registered dealers require GST complete sales and purchase invoices as well other invoices on which GST is charged.

GST return is required to be filed by those who run Business in India. All in all, the dealers registered under GST are supposed to file GSTR-3B and GSTR-1 Forms and file the GST returns monthly or quarterly depending on the annual turnover of the Business.

What are the various types of GST Returns?

Here are the various types of GST returns, that a dealer registered under GST is required to file.

• General Business



Name of the Form	Details	Time Interval	Due Date
GSTR-1	Taxpayers who have turnover of more than 1.5 Cr are required to file this form. These forms contain the particulars related to the outward supplies of Goods/ or on Services from July 2018 to March 2019.	Monthly*	11th October Extended date 31st October.
GSTR-2	Particulars of inward supplies of taxable goods and/or services effected claiming input tax credit.	Monthly*	15th September (SUSPENDED NOW)
GSTR-3	Monthly returns based on the final particulars of outward supplies and inward supplies along with the payment of amount of tax.	Monthly*	20th October
GSTR-9	Return is filed Annually	Annually	31st December of the next Fiscal Year
GSTR-3B	Returns for the months till March 2019	Monthly	20th of next month

Note*

The registered dealers who have turnover of less than 1.5Cr in the previous Fiscal Year, can file GSTR-1 on quarterly basis. The last date to file GSTR-1 has extended to 31st October for the Period from July 2017 to September 2018.

• Composition Dealers

A composition dealer is required to file less returns and compliances, along with the payment of taxes at a nominal rate. The Composition dealers are required to file just 2 returns.

Name of the Form	Details	Time Interval	Due Date
GSTR-4	Return for compounding taxable person	Quarterly	18th of the month succeeding quarter
GSTR-9	Annual Return	Annually	31st December of the next Fiscal Year

• Returns filed by Specific registered dealers



Name of the Form	Details	Time Interval	Due Date
GSTR-5	Non-Resident Foreign taxable person can file GST return using this Form.	Monthly	20th October
GSTR-5A	Non-Resident Person providing OIDAR services can file GST return using this Form.	Monthly	20th October
GSTR-6	Input Services Distributers can file GST return using this Form	Monthly	13th October
GSTR-7	Return for authorities who deduct TDS	Monthly	10th October
GSTR-8	Details of supplies effected through e-commerce operator and the amount of tax collected	Monthly	10th October
GSTR-10	Last Return	Once, after the registration is cancelled or surrendered	Within three months of the date of cancellation or date of order cancellation
GSTR-11	This form contains the details of inward supplies by a person having UIN and claiming refund	Monthly	28th of the month succeeding the month for which statement is filed

What are the respective due dates to file GST returns?

GSTR-1 Form

Taxpayers who have turnover of  upto  Rs. 1.5Cr and have opted for quarterly return filing.

Taxpayers who have turnover of less than Rs. 1.5Cr, but who have opted for monthly return filing as well as those who have turnover of more than Rs. 1.5Cr.

GSTR-2 and GSTR-3 Form

The filing of the above-mentioned forms have been suspended, as per the new guidelines of the 27^th GST Council meeting.

GSTR-3B Form

The taxpayers can file GSTR-3B till March 2019. The taxpayers are required to file GSTR-3B for September 2018 by 20^th October 2018.

GSTR-4 Form

The due date to file GSTR-4 for the period from July 2018 to September 2018 is 18^th October 2018.

GSTR-5 Form

Due date to file GSTR-5 for September 2018 is 20^th October 2018.

GSTR-5A Form

Due date to file GSTR-5A for September 2018 is 20^th October 2018.

GSTR-6 Form

Recently, the due date to file GSTR-6 for the months from July 2017 to August 2018 has extended to 30^th September 2018.

What is the Penalty for late filing of GST Returns?

If a taxpayer does not file GST Return within the stipulated time, then they can invite some hefty penalty. The penalty that a taxpayer will have to pay for late filing is mentioned below.

• The taxpayer will have to pay an interest at the rate of 18% per annum. It is supposed to be calculated by the taxpayer on the amount of outstanding tax to be paid. The time-period will be from the next day of the due date till the date of filing.
• Generally, late fee is Rs. 50 per day. In case of nil return, the late filing fee will be Rs.20 per day as per the GST Act. Maximum amount of penalty will be upto Rs. 5,000. There is no late fee for IGST.