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What is GST Return and GST Return Filing


A GST return is a legal document that records GST invoices, receipts, payments, and other related financial transactions for a specific period. It encompasses detailed information regarding income, sales, expenses, and purchases of a GST-registered taxpayer. Businesses registered under the Goods and Services Tax (GST) are required to file GST returns on a monthly, quarterly, or annual basis, depending on the type of business. While filing GST returns, it is mandatory to include details of sales or purchases of goods and services, along with the corresponding tax amounts collected and paid. To file GST returns, businesses must submit multiple forms, which may include returns for purchases, supplies, and monthly/annual filings. The government has made GST return filing compulsory for all entities holding valid GST registration


The main parts of a GST return include-




Online GST Filing Process

GST can be filed online using the software provided by the Goods and Services Tax Network. Below are the steps required to file GST online.

1. Navigate to the official GST portal.

2. Login using the state code and Permanent Account Number, a 15-digit GST identification number will be issued after data verification.

3. Uploading the invoices will generate a unique invoice reference number, after which a taxpayer will be able to file outward and inward returns, as well as cumulative monthly returns.

4. After the successful filing of the same, taxpayers will be liable to file outward supply returns in GSTR-1 Form. They will have to submit the relevant information before the 10th of the subsequent month. Details of the outward supplies furnished by the supplier will be available in the GSTR-2A form.

5. Next, taxpayers will have to submit details of inward supplies of all taxable goods and services in Form GSTR-2.

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GST Forms and Filing Dates

Form Name Applicable Entrepreneurs GST Filing Dates
GSTR-1 Taxable suppliers to file outward supplies. 10th of next month
GSTR-2 Taxable recipients to file inward supplies to claim tax credit. 15th of next month
GSTR-3 Taxable individuals file monthly returns based on finalisation of outward and inward supplies along with tax amount payment. 20th of next month
GSTR-4 Composition suppliers to file quarterly returns. 18th of next month
GSTR-5 NRIs who are taxable. 20th of next month
GSTR-6 Input service distributor to file for return. 13th of next month
GSTR-7 Authorities conducting TDs to file return. 10th of next month
GSTR-8 Tax collectors and e-commerce operators to file supply details and tax collection detail. 10th of next month
GSTR-9 Taxable individuals to file return. 31st December of next year
GSTR-10 Taxable individuals with cancelled registration to file final return. Within 3 months of cancellation of order
GSTR-11 Individuals with UIN refund claims to file inward supply detail. 28th of the month following the month for a statement was filed




Important Information on GST e-Filing Forms and Submission Dates


While the table above explains who the forms for GST e-filing are meant for, along with their submission date, it is also important to know the details to be filled in the form:



GSTR-1

Suppliers must validate the auto-generated purchase information of their outward supply of goods and services. The form contains the following details.

Name of business, period for which tax is being filed, and GST identification number (GSTIN).

Invoices and tax collection form previous month.

Advances received in favour of supplies.

Revision in previous month’s sales invoices.


GSTR-2 

Taxable recipients have to provide the following detail in this form during their GST filing..

Name of business, period for which tax is being filed, and GSTIN..

Invoices and collected tax in the previous month.

Advances received for order to be delivered in the future..

Revision of previous month’s sales and invoices.


GSTR-3 

Taxpayers filing this form already have their details electronically updated along with forms GSTR-1 and 2.

Taxpayers must check and verify the above forms as and when necessary, and also provide the details underneath.

Input tax credit, liability, and cash ledger details.

CGST, SGST and IGST tax payment details.

Excess payment repay claim or credit request.


GSTR-4 

Businesses with a turnover up to Rs.75 lakh can opt for Composition Scheme and go for GST filing with GSTR-4 form.

They pay tax at fixed rates based on their business type. While they do not have a tax credit facility, they must also provide the following details.

Total value of supply during return period.

Tax payment details.

Purchase information like invoices.


GSTR-5 

NRIs must provide the following information while filing this form.

Taxpayer’s name and address accompanied with return period and GSTIN.

Details of both outgoing and incoming supplies.

Service importing details along with amendments in the previous service.

Import details accompanied with amendments of previous returns.

Refunds from cash ledger, credit and debit details, closing stock, etc.


GSTR-6 

Input Service Distributors must provide the following details when they are completing their GST filing process. Some details are already electronically updated via forms GSTR-1 and 5.

Taxpayer’s name and address detail, return period, and GSTIN.

Input credit distribution details.

Details on the supplies received from registered suppliers.

Input credit amount in their present tax period.

Input credit receiver detail.

Credit and debit note details.

Tax credit that has been received, reverted, and distributed under CGST, SGST, and IGST.


GSTR-7 

Taxpayers who have deducted tax at source must provide the following details in their form.

The TDS liability is generated automatically. The Electronic Cash Ledger refunds will be auto-generated.

Address details of taxpayers to accompany their name and GSTIN along with the return period.

TDS amount, contract detail, and necessary amendments.

Late filing fee and interest.


GSTR-8 

E-commerce operators must provide the following details in their GST filing with form GSTR-8.

Personal details like name and address accompanied with return period and GSTIN.

Supply details of payments to registered individuals and necessary amendments to the previous tax payments.

Supply details to unregistered individuals.

TDS details.

Late filing details and delayed payment interest, accompanied by auto-populated tax liability.


GSTR-9 

Filed by normal taxpayers, it contains both income and expenditure details.

It is compiled and assorted with monthly returns.

Filing this must accompany audited copies of annual accounts, and taxpayers can amend the previous return filings if necessary.


GSTR-10 

To be filed on cancellation of GST, taxpayers must provide the following details while their GST filing with this form.

ARN or Application Reference Number.

GST registration cancellation date.

Cancellation order ID.

Cancellation order date.

Closing stock details and payable tax..


GSTR-11 

Every individual registered under GST with their UIN (Unique Identity Number) must file this form.

This is used to claim a refund of excess taxes paid in inward supplies.

UIN should be accompanied by the return period and name of the government body.

Auto-generated inward supplies from suppliers who are registered under GST.





GSTN


GSTN, or Goods and Services Tax Network, is an online portal containing all the details of sellers and buyers registered under GST’s regulation. Businesses and taxpayers can access these details from the GSTN for filing their returns, logging invoice data, etc. Companies have to file GST Returns based on type of taxpayer as below

• Regular taxpayers (under normal GST scheme):

• GSTR-1: Monthly or Quarterly (for businesses under QRMP scheme).

• GSTR-3B: Monthly or Quarterly (summary return with tax payment).

• GSTR-9: Annual return.

(A regular taxpayer filing monthly GSTR-1 and GSTR-3B submits 12+12+1 = 25 returns in a year, not 37.)

• Composition scheme taxpayers:

• GSTR-4: Annually (earlier quarterly, now yearly).

• CMP-08: Quarterly (tax payment statement).

• Other categories (e.g., e-commerce operators, input service distributors, NRIs, TDS deductors, etc.) have different filing requirements, such as GSTR-5, GSTR-6, GSTR-7, and GSTR-8.

These contain information, including details of inward and outward supplies instigated by an organisation. The data can be prepared offline and uploaded whenever there is an internet connection available.








How to Check GST Return Status?

The following ways can be used to track GST returns status online-




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Step 1: - Tracking Through ARN

Here are the steps to check the status through the Application Reference Number (ARN)-

Step 1: Open the official GST portal and log in.

Step 2: Click 'Services' > 'Returns' > 'Track Return status'.

Step 3: Enter the ARN number.

Step 4: Click on the search option to view the GST return application status.

Step 2: - Tracking through GST Returns Filing Period

Step 1: Log in to the official GST portal.

Step 2: Click on 'Services' > 'Returns' > 'Track Return Status'.

Step 3: Click on the GST Return Filing period and enter the dates.

Step 4: Click on the 'Search' to check the status.

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Step 3: - When Tracking Through the Status

Step 1: Open the GST portal and choose the search taxpayer option.

Step 2:Under the GSTIN/UIN option, enter GSTIN ID and fill out the captcha code. Click on the search. Note the Captcha Code will appear once you have entered the GSTIN ID

After filling out all the details and submitting them, the required details, such as company name, registration date, and GSTIN/UIN status, will be displayed on the screen.

Step 4: How to Download GST Returns Online

Follow the steps listed below to download the GST returns online-

Step 1: Log in to the GST Portal.

Step 2: Click on ‘File GST Returns'.

Step 3: Choose the period, i.e. the year and month and then click on the ‘Search’ option.

Step 4: Click on ‘View GSTR 1’

Step 5: Next, choose the ‘Preview’ option.

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Step 5: Penalty for Late Filing

Under the Goods and Services Tax (GST) regime in India, late fees are imposed on taxpayers who fail to file their GST returns within the prescribed due dates. The late fee varies depending on the specific GST return form and the nature of the taxpayer's liability.

GSTR-3B Late Fees:

• Standard Taxpayers: A late fee of ₹50 per day of delay is levied, comprising ₹25 under the Central GST (CGST) and ₹25 under the State GST (SGST), with a maximum cap of ₹5,000.

• Taxpayers with Nil Tax Liability: For those with no tax liability in a given tax period, the late fee is reduced to ₹20 per day of delay, split as ₹10 under CGST and ₹10 under SGST.

Additionally, an interest rate of 18% per annum is charged on the outstanding tax amount from the due date until the date of payment.

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GST Filing Services by Accountants Factory LLP


At Accountants Factory LLP, we specialize in offering expert GST filing services, ensuring that your business remains compliant with the ever-evolving tax regulations. With our professional support, you can manage your GST returns efficiently, minimize the risk of penalties, and optimize your tax liabilities. Let us handle the intricacies of GST filing so that you can focus on what truly matters—growing your business with confidence. Reach out to us today for personalized GST services tailored to your business needs.



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