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GST Filing – Know How To File GST Returns

File GST returns

The enforcement of Goods and Service Tax (GST) as on 1st July 2017, has led to one of the greatest tax reforms in India. GST is a comprehensive tax imposed on the supply of services and goods, which seeks to replace all other forms of indirect tax, including VAT, purchase tax, central excise duty, central sales tax, etc. All manufacturers, service providers and traders need to register under GST return filing.

GST returns refer to the documents that the taxpayer files based on a period with the income tax authorities. Anyone registered on the GST portal needs to provide information related to the business – purchases, sales, tax paid and collected – by GST return filing online. The tax authorities use the information to calculate tax liability.

Types of GST Returns Applicable

You can opt for GST return filing using various forms.

GSTR 1 Form

You must submit the GSTR 1 Form by the 10th day of every month. The form contains details of the services rendered and the products supplied by the registered taxpayer. Under the form, the critical headings that appear are –

• Goods and Services Taxpayer Identification Number or GSTIN
• The registered person’s legal name
• Aggregate turnover for the previous financial year
• Outward supplies taxable to a person who is registered
• Outward supplies taxable to a consumer
• Alterations to details of any previous outward supplies

GSTR 2 Form

You must file GSTR 2 Form by 15th of every month. It sums up the inward purchase details of services and products that are taxable. This will list the purchase transactions of the registered dealer, taken on in a month. It will also include purchases having an applicable reverse charge. The headings under the form are –

• GSTIN
• The registered person’s legal name
• Inwards supplies received other than those attracting reverse charge
• Inward supplies having taxes applicable on a reverse charge
• TCS and TDS credit received
• Alterations to inward supplies details

GSTR 3 Form

This auto-generated monthly return form needs to be filed by the 20th day of the month. It holds information related to outward and inward supplies of services and products already mentioned in GSTR 2 and GSTR 1. Headings under GSTR 3 include –

• Turnover
• Intrastate supplies
• Interstate supplies
• Effects on taxes due to the alterations made regarding outward supplies
• Inward supplies that attract a reverse charge

GSTR 4 Form

Taxpayers, who are looking to opt for composition scheme, must file GSTR 4. They have to file their returns on a quarterly basis. The scheme puts forward two conditions – 1) only taxpayers having a turnover of up to INR 75 lakh are eligible to opt for the scheme, and 2) taxpayers should be involved only in intrastate trade. The headings under GSTR 4 Form are –

• GSTIN
• Legal name
• Inward supplies with taxes payable on a reverse charge
• Integrated statement of the advances paid
• Alterations to inward supplies details issued in previous returns

GSTR 5 Form

Non-resident foreign people who are registered taxpayers should file GSTR 5 by the 20th of every month. These are foreign suppliers lacking a business establishment abroad and visiting India to make supplies for a short while. Headings under GSTR 5 Form include –

• GSTIN
• Legal name
• Imported services and goods
• Credit/Debit notes details
• Outward supplies made

GSTR 6 Form

Every input service distributor has to file GSTR 6 by the 13th of each month. The form mentions the documents issued for input tax credit distribution and the manner of credit distribution. The critical headings under the form are –

• GSTIN
• Legal name
• Alterations to the distribution of documents and previous Debit/Credit notes
• Input tax credit gathered for distribution

GSTR 7 Form

Taxpayers registered for TDS deduction at source need to file GSTR 7 by the 10th of every month. The form contains details of monthly tax deductions. Some of the headings under GSTR 7 are –

• GSTIN
• Legal name
• Return period
• TDS detail
• Liability – paid and payable

GSTR 8 Form

E-commerce operators collecting tax at source are required to file GSTR 8 by 10th of every month. The form intends to keep a track of the transaction record made on an E-commerce website. Headings under GSTR 8 Form are –

• GSTIN
• Legal name
• Tax payable and paid
• Details of interest
• Supply details made through an E-commerce operator

GSTR 9 Form

All taxpayers registered under GST must issue the annual return GSTR 9 Form. This is a collection of the taxpayer’s annual GSTR 3 Form that needs to be filed by December 31, every year. GSTR 9 features details of imports, exports and the tax that the applicant pays in a year.

GSTR 10 Form

Any taxpayer, whose GST registration is cancelled or surrendered, needs to file GSTR 10. The final return needs to be filed in a span of three months from the date of cancellation order or cancellation, whichever arrives later. The headings under the Form include –

• GSTIN
• Legal name
• The effective date of surrender/cancellation
• Date of the cancellation order
• Tax payable on closing stock

GSTR 11 Form

Individuals – diplomatic bodies or foreign embassies – issued with a UIN (Unique Identification Number) for receiving a refund on purchase in India are required to file GSTR 11 Form. You should file the returns only in the months when the purchases are made. Headings under GSTR 11 include –

• UIN
• Name of the person holding UIN
• Tax period
• Details of supplies

How to File GST Return

The steps to GST return filing online are as follows –

• Visit the GST portal
• Login using your password and username
• Click on the ‘Services’ button and head to the ‘Returns’ dashboard
• Select the GST return filing period to view the different forms available and the due date for each return filing
• Click on ‘Prepare Online’ to proceed with GST return filing
• Enter the required values, i.e. the amount and late fee (if applicable)
• Once you are done filling the details, click on ‘Save’
• Click on the ‘Submit’ button at the bottom of the page to file the return
• Next, click on ‘Payment of Tax’ and proceed to ‘Check Balance’ so that you know the details before paying taxes
• Mention the credit amount you want to use from the available credit, to clear your liabilities
• Click on ‘Offset Liability’ to make the payment
• Once you receive the confirmation, click on ‘OK’
• Lastly, check the box against the declaration and choose an authorized signatory from the drop-down
• Click on ‘File form with EVC’ or ‘File form with DSC’ and click on ‘Proceed’
• Make the payment for your respective GST Form

Once you know how to file GST return online, the entire procedure seems simple and convenient. Make sure you are following the steps as mentioned above for a hassle-free experience.

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