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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.
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: -
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.
Here are the various types of GST returns, that a dealer registered under GST is required to file.
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.
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 |
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 |
GSTR-1 Form
Taxpayers who have turnover of upto Rs. 1.5Cr and have opted for quarterly return filing.
Time-Period | Latest Due Dates |
January – March 2018 | 31st October 2018 |
April - June 2018 | 31st October 2018 |
July – September 2018 | 31st October 2018 |
October – December 2018 | 31st January 2019 |
January – March 2019 | 30th April 2019 |
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.
Time-Period | Latest Due Dates |
April 2018 | 31st October 2018 |
May 2018 | 31st October 2018 |
June 2018 | 31stt October 2018 |
July 2018 | 31st October 2018 |
August 2018 | 31st October 2018 |
September 2018 | 31st October 2018 |
GSTR-2 and GSTR-3 Form
The filing of the above-mentioned forms have been suspended, as per the new guidelines of the 27th 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 20th October 2018.
GSTR-4 Form
The due date to file GSTR-4 for the period from July 2018 to September 2018 is 18th October 2018.
GSTR-5 Form
Due date to file GSTR-5 for September 2018 is 20th October 2018.
GSTR-5A Form
Due date to file GSTR-5A for September 2018 is 20th 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 30th September 2018.
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.
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