GST Return Filing

Goods and Services Taxes (GST), is an Indirect tax, applicable on sale of Goods and Services. Multiple taxes like VAT, Service Tax, etc are subsumed into GST.

There are a total of 11 types of returns under the GST.

• GSTR-1: monthly return for outward supplies
• GSTR-2: monthly return for inward supplies
• GSTR-3: monthly return containing details from other monthly returns filed by the taxpayer (GSTR-1, GSTR-2, GSTR-6, GSTR-7)
• GSTR-4: quarterly return
• GSTR-5: variable return to be filed by Non-Resident Taxpayers
• GSTR-6: monthly return to be filed by input service distributors
• GSTR-7: monthly return to be filed for Tax Deducted at Source (TDS) transactions
• GSTR-8: monthly return to be filed by e-commerce operators
• GSTR-9: annual return
• GSTR-10: final return to be filed when terminating business activities permanently
• GSTR-11: to be filed by taxpayers with a Unique Identity Number (UIN)

Yes, GSTR 1 needs to be filed even if there is no business activity (NIL return) in the tax period.

A normal taxpayer is required to discharge tax liability at the time of filing GSTR 3B. The current due date for filing GSTR 3 is 20^th of succeeding month.

• B2B: It refers to supplies between registered taxable entities.
• B2C: It refers to supplies between registered supplier & Unregistered buyer.

GSTR 2B contains invoice level inward supply information rate wise as reported by the supplier in GSTR 1. Most of the details are auto populated from the other party return.

The GSTR-4 is required to be filed on a quarterly basis (every three months). This return specifically applies to compounding dealers (those who have a turnover of < Rs. 50,00,000 and are enrolled in the composition scheme).

In this return, you need to indicate the total value of supply made during the period covered by the return, along with the details of the tax paid at the compounding rate (not more than 1% of aggregate turnover) for the period. As a compounding dealer, you only need to provide invoice-wise details for inward supplies if they are either imports or purchased from normal taxpayers.

Non-Resident taxpayers are required to file the GSTR-5 for their registered period (which can range from days to weeks to months). This return has to be filed within a period of 7 days after the expiry date of the registration. If the registered period is more than a month, then this return has to be filed every month for the remainder of the registered period.

An Input Service Distributor (ISD) is the corporate office of a supplier of goods and/or services which receives tax invoices for inward supplies made by vendors on behalf of the branch offices in order to distribute tax credits.

In addition to the regular GSTR-1, 2, and 3, ISDs also have to file the GSTR-6, which contains:

• The taxpayer’s basic information (name, GSTIN, etc).
• Period to which the return pertains.
• Invoice-level supply details will be automatically fetched from the GSTR-1, but you can also manually update them.
• Invoice details, including the GSTIN of the taxpayer receiving the credit.
• Separate ISD ledger containing the opening ITC balance for the period, credit for ITC services received, debit for ITC reversed or distributed, and closing balance.

For transactions where you deduct tax at the source (under section 37 of model CGST and SGST law), you need to file the GSTR-7 along with your other monthly returns.

The GSTR-7 contains:

• Taxpayer’s basic information (name, GSTIN, etc).
• Period to which the return pertains.
• Supplier’s GSTIN.
• Invoices against which the tax has been deducted (categorized under the major tax heads – SGST, CGST, and IGST).
• Other payments such as interests and penalties.

Yes, all e-commerce operators who allow other suppliers to sell goods or services through their portals are required to file the GSTR-8 return. Those who use their own portal to sell their goods or services need not file this return. The GSTR-8 needs to be filed before the 10th of the following month, and it contains:

• The taxpayer’s basic information (name, GSTIN, etc).
• The period to which the return pertains.
• Supplies made to customers through the e-commerce portal by both registered taxable persons and unregistered persons.
• Your customers’ basic information (whether or not they are registered taxpayers).
• The amount of tax collected at source, tax payable, and tax paid.

The GSTR-9 return, also known as the annual return, must be submitted by all normal taxpayers (not for Non residential taxpayers). It provides a complete view of the taxpayer’s activities and allows their returns to be reconciled with their audited financial statements.

The annual return captures the taxpayer’s income and expenditure in detail. These are then regrouped according to the monthly returns filed by the tax payer. This return allows the taxpayer to properly update any details that were not reported during the year.

The annual return does not meet the reconciliation requirements for taxpayers who are required to have their accounting audited under section 44AB of the Income Tax Act of 1961. Those taxpayers must also file a dedicated reconciliation statement, which must be duly certified by a Chartered Accountant.

Any business that permanently terminates its operations is required to file the GSTR-10, also known as the final GST return.

Facile Corporate Services offers expert, efficient, and affordable services for GST Return Filings in India. With a team of seasoned professionals, we ensure seamless return filing, expert advisory saving you time and removing any legal roadblocks.

Yes, you are allowed to make corrections. As a registered taxpayer, you are legally bound to file the details of every modification made to the return data to the GSTN either through an amendment form (if the edit was made before 17th of the following) or using the amendment sections under the next month’s tax return (if the edit was made after 17th of the following month). This is because modifications to invoices and other documents can result in a mismatch between your data and the data held by your customer or vendor and this will lead to litigation. Hence, by declaring the details of all edits made by you, you stay true to the law.