What is a GST Return?

Under the GST Act, a registered dealer whose is liable to pay the indirect tax has to create a document containing details of income which the taxpayer is required to file with the tax administrative authorities. This document is used by the tax authority to calculate the tax liability. The document contains details like,

  • Purchases
  • Sales
  • Output GST (On sales)
  • Input tax credit (GST paid on purchases)

To file GST return you need a GST Compliance sales and purchase invoices.

Who should file the GST return?

All registered business have to file monthly, quarterly and/or annual GST Returns based on the type of business. Under the GST Act, every person who has registered must periodically furnish their details of sales, purchases, and tax paid and collected thereon by filing a return with GST Authorities. Payment of tax due is compulsory before filing any return, otherwise, such return will be invalid. He/she needs to file 3 monthly and one yearly returns.

Types of GST Return

GSTR 1 It is the return which summarized all the outward supplies(sales) of the taxpayer. To file the return the taxpayer must provide details of Invoices, debit notes, credit notes and revised invoices issued in relation to outward supplies made during the tax period. 10th day of every month Monthly/Quarterly
GSTR 2 It is a monthly summarized detail of inward supplies (purchase) made by the registered dealer. To file GSTR 2 is important for the taxpayer to enjoy an Income Tax Credit. 15th day of every month Monthly (Not Applicable Presently)
GSTR 3 GSTR -3 is the final return wherein the output liability as per GSTR 1 is set off against input as claimed in GSTR 2 and balance liability, if any, is determined which is to be paid in cash. On payment of balance tax liability and setting off of the same, the final return can be submitted. 20th day of every month Monthly (Not Applicable Presently)
GSTR 3B It is the actual tax liability which the taxpayer has to pay after setting off Input Tax Credit claimed in GSTR 2 from output liability. 20th day if every month Monthly
GSTR 4 It is the quarterly report prepared by the registered dealer under the GST composition scheme. However, not all businesses will be eligible to register under the GST composition scheme – only those business entities, for whom the annual turnover is below Rs 1 Crore and who also fulfill other specified criteria. 18th day of a month after every 3 months Quarterly
GSTR 5 This return document is for NRI, the NRIs can file the return for the period during which they carry out businesses transactions in India. 20th day of every month Monthly
GSTR 6 It is a tax return file by Input Service Distributor. 13th day of every month Monthly
GSTR 7 It is the return file for TDS. A registered taxpayer can file this return while making payment to a vendor on the purchase if the total value of the transaction exceeds Rs 2.5 Lakhs. 10th day of every month Monthly
GSTR 8 Every e-commerce operator registered under GST is required to file GSTR-8. E-commerce operator is that person who owns or manages a digital business. 10th day of every month. Monthly
GSTR 9 It is an annual tax return file by every taxpayer. 31st December of every year Annually
GSTR 9A The GSTR 9A is an annual GST composition return form that has to be mandatorily filed by composition scheme taxpayers. The GSTR 9A form constitutes consolidated details of SGST, CGST and IGST paid during a given financial year. 31st December of every year Annually
GSTR 10 A taxable person whose GST registration is canceled or surrendered has to file a return in Form GSTR-10 called as Final Return. within three months of the date of cancellation or date of order of cancellation, whichever is later. Once, when GST Registration is canceled or surrendered