GST Monthly & Quarterly Returns

Types of GST Returns: Filing & Due Dates of Returns

Taxpayers registered under GST are required to follow the return procedure to be able to file returns easily and take the benefit of Input Tax Credit (ITC). A regular taxpayer under GST is required to file two monthly returns (GSTR-3b & GSTR-1) and one annual return(GSTR-9). However, there are special category taxpayers registered under GST who need to furnish separate returns. These taxpayers include:

Non-resident taxable persons
Taxpayers registered under the composition scheme
Persons allotted with Unique Identification Number (UIN)
Input Service Distributors
Persons required to deduct TDS or collect TCS under GST

Return Under GST

Under the initial GST Return filing procedure, the different types of GST returns demanded the taxpayer to disclose the following details:

Note: However, the current system of GST Return filing requires a taxpayer to update outward supplies information in GSTR1. And then file a summary return in GSTR3B. All the other forms like GSTR2 and GSTR 3 have been suspended for the time being.

The taxpayers having an annual turnover of over Rs 5 Crores to file one monthly return only. Thus, small business owners, having an annual turnover of up to Rs 5 Crores would have the option to file quarterly return or monthly returns of GSTR1 and GSTR3B.

Types of GST Returns

GSTR – 1: Return for Outward Supplies

GSTR-1 is a monthly return of outward supplies undertaken by a normal registered taxpayer under GST. In other words, this monthly return showcases the sales transactions of a business in a particular month. Every normal registered taxpayer under GST is required to file GSTR-1 each month. The standard date for filing GSTR-1 is 10 days from the end of the month for which such a return is to be filed.

GSTR – 2: Return for Inward Supplies

GSTR-2 is a monthly return of inward supply of goods and services as agreed by the recipient of the goods and services. In other words, GSTR-2 contains details with regards to the purchases made by the recipient in a particular month. The information contained in GSTR-2 is auto-populated with the details contained in GSTR-2A. Every normal registered taxpayer under GST is required to provide details regarding inward supplies or purchases made for each month in GSTR-2.

GSTR – 2A: Read Only Document

GSTR-2A is a read only document. This document gets auto-populated once the supplier uploads the details in GSTR-1. In other words, GSTR-2A enables the recipient to verify the details uploaded by the supplier in GSTR 1. Also the recipient could accept, reject, modify or keep the invoices pending using the said details. However, such changes are made by the recipient in GSTR 2.GSTR-2A is made available to every normal registered taxpayer filing return under GST. This is because it is a read only document that gets auto-populated with details uploaded by supplier in GSTR-1.

GSTR – 3B: Summary of Inward and Outward Supplies

GSTR 3B is a simplified monthly summary return of inward and outward supplies. It is a self declaration showcasing the summary of GST liabilities of the taxpayer for the tax period in question. Moreover, it helps the taxpayer to discharge the tax liabilities in a timely manner. GSTR-3B is a form that cannot be revised. Furthermore, this form does not require the compliance of comparing invoices between supplier and purchaser. That means both the suppliers and the recipients file the GSTR-3B form separately. Every normal registered taxpayer filing GST Returns is required to file GSTR-3B. GSTR-3B is also filed during the tax periods for which the tax liability is zero. That is, a taxpayer needs to file a Nil Return in case there are no outward or inward transactions during a particular month.

GSTR – 4: Return For Composition Dealers

GSTR-4 is a quarterly return that needs to be filed by a registered taxpayer who has signed up for the Composition Scheme. Under this scheme, small taxpayers having a turnover of upto Rs 1.5 Crores need to pay tax at a fixed rate and file quarterly return. This is unlike the normal registered dealer who files three returns every month including GSTR-1, GSTR-2 and GSTR-3B. The Composition Scheme was introduced under GST in order to reduce the compliance burden on small taxpayers. Every registered taxpayer opting for Composition Scheme is required to file quarterly return in GSTR-4.

GSTR – 5: Return For Non-Resident Taxable Persons

GSTR-5 is a monthly return filed by every non-resident taxable person. This return includes details pertaining to:

Furthermore, this is the only return to be filed by a non-resident taxable person. This means, a non-resident taxable person is not required to file any annual return. Unlike a normal registered taxpayer, a non-resident taxable person is required to File monthly return in For GSTR-5. A non-resident taxable person means a person who supplies goods or services occasionally. This person does not have a fixed place of business or residence in India. Moreover, he can supply goods or services either as a principal or an agent or in any other capacity.

GSTR – 6: Return For Input Service Distributors

GSTR 6 is a monthly return that an Input Service Distributor files every calendar month. This return provides information of all the invoices on which credit has been received and are issued by an ISD. This means that it gives a summary of the total input tax credit available for distribution during a particular month. Thus, the details of the invoices that an ISD furnishes in form GSTR 6 are made available to every recipient of the credit. These details are visible to the recipient in part B of form GSTR 2A. GSTR 6A is an auto drafted, read only form. This form is generated automatically based on the details furnished by the suppliers of an ISD in form GSTR 1. This form contains details pertaining to the supplies against which credit is received for distribution.

GSTR – 7: Return For Taxpayers Deducting TDS

GSTR 7 is a monthly return that is required to be filed by the deductors who are required to deduct TDS under GST. Such a return consists of the details regarding:

GSTR – 8: Return For E-Commerce Operators Collecting TCS

GSTR 8 is a monthly return furnished by every electronic commerce operator who is required to deduct Tax Collected at Source under GST. This return reflects details of the supplies made through e-commerce portal and the amount of tax collected from suppliers of goods and services. Furthermore, the operator can also make changes to the details of supplies furnished in any of the earlier period statements.

GSTR – 10: Return For Registered Person Whose GST Registration Gets Cancelled

GSTR-10 is a final return required to be filed by a registered person whose GST Registration gets cancelled. Such a registered person does not include:

Further, Form GSTR-10 is filed electronically through the common portal either directly or via a facilitation centre as prescribed by the Commissioner. The intent of filing this final return is to make sure that the taxpayer pays of any liability outstanding. This liability may include an amount equivalent to the amount that is higher of:

GSTR – 11: Return For UIN (Unique Identification Number) Holders

GSTR-11 is a return to be furnished by a person who has been allotted a Unique Identification Number (UIN). UIN is issued so that the registered person obtaining the same can claim refunds for GST paid on goods and services purchased by them in India. UIN is allotted to foreign embassies and diplomatic missions who are not required to pay taxes in India. This number is issued so that these organizations can claim a refund for the amount of tax paid to the Indian Tax Authorities. In order to claim the refund on GST paid, these organizations need to file GSTR-11.

The organizations that can apply for UIN include:

Specialized agency of the United Nations Organization
A consulate or embassy of foreign countries
Multilateral financial institution and organization notified under the United Nations (Privileges and Immunities) Act, 1947
Any other person or class of persons as may be specified by the Commissioner

Penalty For Filing Late Returns

In case, a taxpayer fails to furnish the details relating to outward supplies, a penalty is charged for the same. The fine amounts to a sum of Rs 200 (Rs 100 for CGST and Rs 100 for SGST) for each day of continuing default. This is subject to a maximum of Rs 5,000 only. However, there is no late fee for IGST. Also, interest is charged at 18% per annum. This interest is calculated by the registered taxpayer on the amount of tax liability outstanding. Furthermore, the interest is calculated from the day succeeding the due date for filing the GST return until the date of payment of tax by the taxpayer.