Introductions

Every registered person under gst is required to give information about the transactions that comes under the purview of GST. These transactions includes information about turnover, input tax credit claimed under gst, tax to be paid and other information as may be applicable to the taxable person according to their category. GST returns in simple terms are statements or declaration about the liability of a taxpayer and input tax credits availed on purchases and other expenses. Here in this article we will discuss the various types of GST returns that are applicable to different types of taxpayers.

GSTR-3B:

GSTR-3B is a return in which the aggregate amount of outward tax liability as well as total of input tax credit to be claimed is to be reported. The tax payer shall pay the tax accordingly. GSTR-3B return requires tax payer to bifurcate their outward tax liability in table 3.1 and 3.2 of the return. In table 4 of the return, tax payer shall report and bifurcate the Input Tax Credit received on various transactions. Any exempt, nil rated or non GST inward supplies shall be reported in table 5. Any interest or late filing fees shall be declared in table 5.1. After filling all the required details, tax payer shall proceed with payment of tax.

The due date of filing GSTR-3B is mentioned below in below table:

GSTR-1:

GSTR-1 is basically a monthly or quarterly return depending upon the preference selected by tax payer. Those tax payers whose annual turnover is below 5 Cr can opt for quarterly return filing option and those tax payer whose turnover exceeds 5 Cr has to compulsorily file GSTR-1 on a monthly basis. The invoice wise details of outward supplies needs to be reported in this return. GSTR-1 is detailed return for reporting outward taxable supplies including supplies made outside the country, supplies made to B2C or B2Cs kind of tax payers, HSN wise details of outward supplies and Number of invoice issued during a particular return period.

Due date of filing GSTR-1 is mentioned in below table

GSTR-4

GSTR-4 is a return that has to be filed by a Composition Dealer. Unlike a normal taxpayer who needs to furnish 2 monthly returns, a dealer opting for the composition scheme is required to furnish only 1 return which is GSTR-4. GSTR-4 cannot be revised after filing on the GSTN Portal. Any mistake in the return can be revised in the next month’s return only

GSTR-5

GSTR 5/5A form is to be filed by registered non-resident persons to file monthly tax returns on GST portal. Each non-resident taxpayer, who carries out business in the country, is required to furnish GSTR-5 form details on or before 20th of the next month for a particular tax period. It will include the details of all inward and outward supplies performed by the particular non-resident during the tax period. The taxpayer can furnish details of taxable outward supplies made to non-taxable persons/ consumers in India, amendment to the details furnished in preceding tax period(s) and to view details of interest, or any other amount and offset the liabilities etc. in their GSTR-5.

GSTR-5A

GSTR-5A is a Return to be furnished by Online Information and Database Access or Retrieval (OIDAR) services provider to un-registered person or customers, on the GST Portal for the services provided from a place outside India to a person in India, other than a registered person. The taxpayer can furnish details of taxable outward supplies made to non-taxable persons/ consumers in India, amendment to the details furnished in preceding tax period(s) and to view details of interest, or any other amount and offset the liabilities etc. in their GSTR-5A.

GSTR-6

GSTR 6 is a return which has to be filed monthly. It has to be furnished by every Input Services Distributor. This return includes all the details of invoices on which credit has been received. The details includes input tax credit (ITC) received and distribution of ITC by the input service distributor. As per GST Act the due date for filing GSTR 6 is 13th of next month. If the GSTR 6 will be filed after the due date, the taxpayer is charged with a late fee as a penalty. The late fee is now Rs. 50 per day of default. However there is no fees for delay in filing of Nil return.

GSTR-7

GSTR 7 is a return form under GST for all the taxpayers who account all the tax deducted at source. TDS is deducted at the source of income and is deposited to the government and note that the TDS will not be deducted in case the supplier location and place of supply is other than the registration place of the recipient. The GSTR 7 due date is 10th of every next month in a particular tax period.

GSTR-8

Form GSTR-8 is a Statement of TCS (Tax Collected at Source) to be filed by E Commerce Operator. Form GSTR-8 contains the details of taxable supplies and the amount of consideration collected by such operator pertaining to the supplies made by other suppliers through such e commerce operator and amount of TCS collected on such supplies. Filing of Form GSTR-8 for every tax period is not mandatory. E-commerce operator is mandatorily required to file GSTR-8 for a tax period only when they have collected any TDS amount during the said tax period or they have to amend any details declared in earlier Return on their own or on account of any details rejected by supplier which is auto-populated in Table 4 in that tax period