GST RETURN

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Definition

Every person has to furnish a return as per the GST law. As per the GST law every taxpayer will be required to furnish return by time to time i.e. three returns monthly and one annually. Monthly returns are for output supply, input supply and summary accounts and would cover state GST, integrated GST (IGST) and central GST (CGST). Under GST, a taxpayer registered under the composition scheme, taxpayer registered as an Input Service Distributor, a person liable to deduct or collect the tax (TDS/TCS).

cost breakup

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About GSTR:

GSTR-1: [Outward Supplies]
Every registered taxable person has to furnish outward supply details in Form GSTR-1 (GST Returns-1) by the 10th of the subsequent month.

GSTR-2A:
GSTR-1 filed by supplier will have information in the form of GSTR-2A available to the recipient. On the 11th, the visibility of inward supplies is made available to the recipient in the auto-populated GSTR-2A.

The period from 11th to 15th will allow for any corrections (additions, modifications and deletion) in Form GSTR-2A.

This will be done by reconciling with the inward supplies ( as per GSTR 2A ) with books of accounts.

GSTR-2: [ Inward Supplies] by 15th of the subsequent month.

The corrections (addition, modification and deletion) by the recipient in Form GSTR-2 will be made available to supplier in Form GSTR-1A. The supplier has to accept or reject the adjustments made by the recipient.

In return, GSTR-1 will be amended according to the extent of correction accepted by supplier.

GSTR-3:
On 20th, the auto-populated return GSTR-3 will be available for submission along with the payment. After the due date of filing the monthly return Form GSTR-3, the inward supplies will be matched with the outward supplies furnished by supplier, and then the final acceptance of input tax credit will be communicated in Form GST MIS-1.

GST RETURNS DUE DATE & FORMS

GST Return Form Purpose Applicability Due Date
GSTR-1 Details of outward supplies of taxable goods and/or services effected Registered Taxable Supplier 10th of the next month
GSTR-2 Details of inward supplies of taxable goods and/or services effected claiming input tax credit. Registered Taxable Recipient 15th of the next month
GSTR-3 Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of amount of tax. Registered Taxable Person/- 20th of the next month
GSTR-4 Quarterly return for compounding taxable person. Composition Supplier 18th of the month succeeding quarter
GSTR-5 Return for Non-Resident foreign taxable person Non-Resident Taxable Person 20th of the next month
GSTR-6 Return for Input Service Distributor Input Service Distributor 15th of the next month
GSTR-7 Return for authorities deducting tax at source. Tax Deductor 10th of the next month
GSTR-8 Details of supplies effected through e-commerce operator and the amount of tax collected E-commerce Operator/Tax Collector 10th of the next month
GSTR-9 Annual Return Registered Taxable Person 31st December of next financial year
GSTR-10 Final Return Taxable person whose registration has been surrendered or cancelled. Within three months of the date of cancellation or date of cancellation order, whichever is later.
GSTR-11 Details of inward supplies to be furnished by a person having UIN Person having UIN and claiming refund 28th of the month following the month for which statement is filed

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  • Preparation of GST return
  • Filling of GST return
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FREQUENTLY ASKED QUESTIONS

Is it compulsory for taxpayer to file return by himself?

No. A registered taxpayer person can also get his return filed through a Tax Return Preparer, duly approved by the Central or the State tax administration.

What is the purpose of returns?

  1. Mode for transfer of information to tax administration;
  2. Compliance verification program of tax administration;
  3. Finalization of the tax liabilities of the taxpayer within stipulated period of limitation; to declare tax liability for a given period;
  4. Providing necessary inputs for taking policy decision;
  5. Management of audit and anti-evasion programs of tax administration.

Is the scanned copy of invoices to be uploaded along with GSTR-1?

No, scanned copy of invoices is to be uploaded. Only certain prescribed fields of information from invoices need to be uploaded.

What type of outward supply details are to be filed in the return?

A normal registered taxpayer has to file the outward supply details in GSTR-1 in relation to various types of supplies made in a month, namely outward supplies to registered persons, outward supplies to unregistered persons (consumers), details of Credit/Debit Notes, zero rated, exempted and non-GST supplies, exports, and advances received in relation to future supply.

Whether all invoices will have to be uploaded?

No. It depends on whether B2B or B2C plus whether Intra-state or Inter-state supplies.

For B2B supplies, all invoices, whether Intra-state or Interstate supplies, will have to be uploaded. Why So? Because ITC will be taken by the recipients, invoice matching is required to be done.

In B2C supplies, uploading in general may not be required as the buyer will not be taking ITC. However still in order to implement the destination based principle, invoices of value more than Rs.2.5 lacs in inter-state B2B supplies will have to be uploaded. For intra-state invoices below Rs. 2.5 114 115 lacs and all intra-state invoices, state wise summary will be sufficient.

Can a recipient feed information in his GSTR-2 which has been missed by the supplier?

Yes, the recipient can himself feed the invoices not uploaded by his supplier. The credit on such invoices will also be given provisionally but will be subject to matching. On matching, if the invoice is not uploaded by the supplier, both of them will be intimated. If the mismatch is rectified, provisional credit will be confirmed. But if mismatch continues even after intimation, the credit provisionally allowed will be reversed.

What is the special feature of GSTR-2?

The special feature of GSTR-2 is that the details of supplies received by a recipient can be auto populated on the basis of the details furnished by the counterparty supplier in his GSTR-1.

Who all need to file Annual Return?

All taxpayers filing return in GSTR-1 to 3 other than casual taxpayers and taxpayers under composition scheme are required to file an annual return. Casual taxpayers, nonresident taxpayers, ISDs and persons authorized to deduct tax at source are not required to file annual return.

Is an Annual Return and a Final Return one and the same?

No. Annual Return has to be filed by every registered taxable person paying tax as a normal or a compounding taxpayer. Final Return has to be filed only by those registered taxable persons who have applied for cancellation of registration. This has to be filed within three months of the date of cancellation or the date of cancellation order.

What is the consequence of not filing the return within the prescribed date?

A registered taxable person who files return beyond the prescribed date will have to pay late fees of rupees one hundred for every day of delay subject to a maximum of rupees five thousand

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