GST RETURNS AND OTHER MATTERS

Goods and Services Tax (GST) Returns in India

GST in India requires registered businesses to file various returns based on the nature of their business and the type of GST registration they hold. These returns are essential for reporting sales, purchases, input tax credit (ITC), and tax liability. The GST regime mandates both periodic returns and an annual return.

Types of GST Returns

1. GSTR-1

• Who Files: All registered taxpayers except composition scheme taxpayers, Input Service Distributors (ISDs), non-resident taxable persons, and those liable to deduct TDS under GST.
• Frequency: Monthly (Quarterly for taxpayers with turnover up to ₹5 crores who opt for the QRMP scheme).
• Due Date:
  • Monthly: 11th of the following month.
  • Quarterly: 13th of the month following the quarter.
• Details Provided: Outward supplies of goods and services, including B2B (Business to Business) and B2C (Business to Consumer) sales, debit/credit notes issued, and amendments to previous returns.

2. GSTR-2A

• Who Files: Auto-generated for recipients of goods/services.
• Frequency: Monthly.
• Due Date: N/A (View only).
• Details Provided: Inward supplies of goods and services, reflecting data from suppliers’ GSTR-1. It helps in matching input tax credit (ITC).

3. GSTR-2B

• Who Files: Auto-generated for recipients of goods/services.
• Frequency: Monthly.
• Due Date: N/A (View only).
• Details Provided: A static month-wise ITC statement available for taxpayers, based on the supplier's GSTR-1, GSTR-5, and GSTR-6. It aids in claiming accurate ITC.

4. GSTR-3B

• Who Files: All registered taxpayers except composition scheme taxpayers, ISDs, non-resident taxable persons, and those liable to deduct TDS under GST.
• Frequency: Monthly (Quarterly for taxpayers with turnover up to ₹5 crores who opt for the QRMP scheme).
• Due Date: 20th of the following month (varies for different states).
• Details Provided: Summary of outward and inward supplies, ITC claimed, tax payable, and tax paid.

5. GSTR-4

• Who Files: Composition scheme taxpayers.
• Frequency: Annually.
• Due Date: 30th of April of the following financial year.
• Details Provided: Summary of outward and inward supplies, tax payable under the composition scheme.

6. GSTR-5

• Who Files: Non-resident taxable persons.
• Frequency: Monthly.
• Due Date: 20th of the following month or within 7 days of the expiry of registration, whichever is earlier.
• Details Provided: Details of outward and inward supplies, tax paid, interest, and penalties.

7. GSTR-6

• Who Files: Input Service Distributors (ISDs).
• Frequency: Monthly.
• Due Date: 13th of the following month.
• Details Provided: Details of ITC received, distributed, and the manner of distribution.

8. GSTR-7

• Who Files: Persons required to deduct TDS under GST.
• Frequency: Monthly.
• Due Date: 10th of the following month.
• Details Provided: Details of TDS deducted, TDS liability payable, and TDS refunds claimed.

9. GSTR-8

• Who Files: E-commerce operators who are required to collect TCS under GST.
• Frequency: Monthly.
• Due Date: 10th of the following month.
• Details Provided: Details of TCS collected, tax payable, and tax paid.

10. GSTR-9

• Who Files: All regular taxpayers (excluding those under composition scheme, casual taxable persons, and non-resident taxable persons).
• Frequency: Annually.
• Due Date: 31st December of the following financial year.
• Details Provided: Consolidated details of outward supplies, inward supplies, ITC, and tax paid for the entire financial year.

11. GSTR-9A

• Who Files: Composition scheme taxpayers.
• Frequency: Annually.
• Due Date: 31st December of the following financial year.
• Details Provided: Consolidated details of outward and inward supplies, tax payable, and tax paid for the entire financial year.

12. GSTR-9C

• Who Files: Taxpayers whose turnover exceeds ₹5 crores in a financial year and are required to get their accounts audited.
• Frequency: Annually.
• Due Date: 31st December of the following financial year.
• Details Provided: A reconciliation statement between the audited financial statements and the GSTR-9, certified by a Chartered Accountant or Cost Accountant.

13. GSTR-10

• Who Files: Taxpayers whose GST registration has been cancelled or surrendered.
• Frequency: Once (Final return).
• Due Date: Within three months of the date of cancellation or the date of cancellation order, whichever is later.
• Details Provided: Details of stocks held, tax liability on closing stock, and final tax payments.

14. GSTR-11

• Who Files: Persons with a Unique Identification Number (UIN) claiming a refund.
• Frequency: Monthly.
• Due Date: 28th of the month following the month for which the statement is filed.
• Details Provided: Details of inward supplies received and refunds claimed.

Annual GST Returns

1. GSTR-9 (Annual Return)

• Who Files: All regular taxpayers.
• Details Provided: Comprehensive details of all transactions during the financial year, including outward and inward supplies, ITC claimed, and taxes paid. It serves as a summary of all monthly or quarterly returns filed during the year.
• Due Date: 31st December of the following financial year.

2. GSTR-9A (Annual Return for Composition Taxpayers)

• Who Files: Taxpayers under the composition scheme.
• Details Provided: Consolidated summary of supplies made, taxes paid, and ITC claimed under the composition scheme.
• Due Date: 31st December of the following financial year.

3. GSTR-9C (Reconciliation Statement)

• Who Files: Taxpayers with an aggregate turnover exceeding ₹5 crores in a financial year.
• Details Provided: This is a reconciliation statement and certification to be filed by taxpayers who need to get their accounts audited. It includes a reconciliation between the audited financial statements and the annual return (GSTR-9).
• Due Date: 31st December of the following financial year.