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GST Return Filing and Types of GST Returns Explained

Anurag Mittal

Anurag Mittal is a seasoned technology executive who has led multiple marketing teams at SaaS-based organizations. At Vervotech, Anurag is responsible for marketing and strategy formulation and setting up a growth-oriented marketing & prospecting team.

In India, the Goods and Services Tax (GST) is a key tax on goods and services. It aims to make tax systems the same all over the country. Businesses that are GST-registered must file their GST returns. They do this by sharing details of their sales, purchases, and taxes online.

These returns are key because they cover sales, purchases, and taxes in detail. How often a business submits these returns depends on its size and nature. Businesses might file them each month, every three months, or once a year. Different return forms are used for different types of businesses. For example, regular businesses use forms like GSTR-1 and GSTR-3B. Others, such as composition dealers, use GSTR-4. There are even special forms for non-resident businesses, those making TDS transactions, and e-commerce businesses. Filing on time is very important to meet the GST rules.

Tools like Clear GST make filing GST returns easier. They let businesses import data from common programs like Tally and Busy. Even information from custom Excel files can be used. This way, the process becomes more efficient.

Table of Contents

Key Takeaways

GST in India covers most goods and services under a unified tax regime.
GST return filing is mandatory for all GST-registered businesses.
Details of transactions, Output GST, and Input Tax Credit must be reported.
Different GST return types cater to various business activities and turnover categories.
Adherence to specific due dates is crucial for compliance.
Clear GST software aids in streamlining the filing process.

Understanding GST Return Filing

Since July 1, 2017, India has seen a major tax change with the Goods and Services Tax (GST). It aimed to make the tax system smoother. GST replaced many old taxes like the central excise duty and state VAT. Now, everyone who sells, makes, or offers services must register under GST and file their returns. Let’s explore what this filing process involves.

What is a GST Return?

GST return is an official report that shows what a business has sold and bought. It helps the government see if there’s more tax to pay or if some can be refunded. The kind of return and how often it’s filed depends on the business’s activities and sales for the year.

Who Should File GST Returns?

Everyone signed up for GST must file returns, from sellers to service givers. This rule applies if your annual sales are above a set limit. By filing correctly, GST registered people follow tax laws well.

Types of GST Returns

Depending on what a business does, there are various kinds of returns to file:

Form Number	Applicable For	Frequency	Due Date
GSTR-1	Regular dealers	Monthly	10th of the succeeding month
GSTR-2	Regular dealers	Monthly	15th of the succeeding month
GSTR-3	Regular dealers	Monthly	20th of the succeeding month
GSTR-4	Composite taxpayers	Quarterly	18th of the succeeding month
GSTR-5	Foreign non-resident taxpayers	Monthly	20th of the succeeding month
GSTR-6	Input Service Distributors	Monthly	13th of the succeeding month
GSTR-7	Tax Diductors	Monthly	10th of the succeeding month
GSTR-8	E-commerce operators	Monthly	10th of the succeeding month
GSTR-9	Regular taxpayers (annual return)	Annually	31st December of the next financial year
GSTR-9A	Composite taxpayers (annual return)	Annually	31st December of the next financial year

GST Return Filing Process

Filing GST returns is easy if you know the steps and due dates. I’ll guide you through the important parts of the GST return process. This will help you file with ease.

Steps to File GST Returns

When it comes to GST returns filing steps, following a method is important. First, log in to the GST portal. Choose the right form, like GSTR-1 for sales details or GSTR-3B for a summary. Then, fill in the needed information.

Log in: Use your details to enter the GST portal.
Choose the form: Pick the form you need (GSTR-3B, GSTR-1, etc.).
Fill in details: Put in the correct information carefully.
Validate and Preview: Check your form for any mistakes.
Pay Tax if applicable: If you owe tax, calculate and pay it.
File the Return: Send your submission on the portal.
Reconciliation and Rectification: Always check and fix any mistakes.

Important Due Dates for GST Returns Filing

Knowing your GST return due date helps you avoid problems. Here is a simple guide:

For Monthly submissions:

GSTR-1 is due on the 11th of the next month.
GSTR-3B should be filed by the 20th of the next month.

For Quarterly submissions under QRMP:

Submit GSTR-1 by the 13th of the month after the quarter.
GSTR-3B is due on the 22nd or 24th of the next month, based on the quarter.

If you are in the Composition Scheme, note these dates:

File CMP-08 by the 18th of the month after the quarter.

Challenges in GST Return Filing

The GST return process can be tricky for some. People often find it hard to keep up with changes, input data correctly, and use Input Tax Credits.

It’s also tough to know which forms to use. Getting professional help, like GST return filing services, could make things easier. They help ensure you’re following the rules and your data is correct.

Conclusion

The GST return process is very important in India for following tax laws. It’s key to know all the different types of GST returns and how to file them. This ranges from GSTR-1 for sales to GSTR-9 for yearly reports. Not doing it right and on time can cause businesses a fine up to Rs. 5,000/-. So, making sure everything is filed correctly is super important.

Filing your GST online makes things much easier. Now, you can add your invoices, check your info, and send them with just a few clicks. But, you still need to be careful. Small mistakes like putting the wrong GSTIN or missing deadlines can cost you. They might slow down your business, and people might not trust you as much. Remember, there are different deadlines for filing depending on your business’s yearly revenue.

Submitting your GST returns correctly and on time is not just a rule; it’s also a way to keep your tax record good. Doing this lets you get money back, which is a big help for certain sales, like exports. Using new technology and maybe getting help from tax pros can make this process easier. Following these steps helps businesses do their part for the country and show they are responsible and honest with their taxes.