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GST RETURN - WHAT IT IS AND WHAT ARE THE TYPES OF GST RETURN ?

What is a GST return?

Your GST return will include information on all of your sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). After submitting GST returns, you must pay the additional tax obligation (money that you owe the government).


Who is required to file a GST return?

All owners and dealers who have registered under the GST system are obliged to file GST returns depending on the nature of their business or transactions.



TYPE OF RETURN

PURPOSE

GSTR 1

Tax return for purchases done outside of India (contains the details of interstate as well as intrastate B2B and B2C sales including purchases under reverse charge and inter state stock transfers made during the tax period). If Form GSTR-1 is submitted beyond the due date, the late fee will be automatically produced and collected in the subsequent open return in Form GSTR-3B. Taxpayers won't be allowed to submit Form GSTR-1 after January 1, 2022, if they haven't submitted Form GSTR-3B in the month prior.

GSTR 3B

Temporary consolidated summary return of inward and outbound supply for businesses that have just transitioned to the GST. Tax payments for the months of July and August 2017 will be based on this return.

GSTR 9

Annual consolidated tax return. Contains in-depth details about the taxpayer's income and outlays, which are then rearranged to coincide with the taxpayer's monthly returns.

GSTR 9C

Audit form to be submitted by taxpayers who must have their annual reports audited, when their aggregate revenue in a fiscal year reaches Rs. 2 crores.

GSTR 4

Quarterly return for compounding vendors. Contains total value of supplies made during the period covered by the return, details of tax paid at the compounding rate for the period (not more than 1% of total turnover), and invoice-by-invoice information for inward supplies if they are either imported or purchased from regular taxpayers.

GSTR 9A

Annual Composition Return Form to be submitted by each taxpayer who has registered for the composition system.

GSTR 5

Variable return for non-resident foreign taxpayers. Covers the taxpayer's information, the return period, and invoice information for any products and services the taxpayer sold and purchased on Indian soil for the registration period/month, including imports.

GSTR 6

Monthly return for ISDs. Contains information about the taxpayer's name, GSTIN, and other basic information, the period to which the return relates, invoice-level supply details from the counterparties' GSTR-1, invoice details, including the taxpayer receiving the credit's GSTIN, and a separate ISD ledger with the period's opening ITC balance, credits for ITC services received, debits for ITC reversed or distributed, and the closing balance.

GSTR 7

Monthly return for TDS Transactions. Includes information on any additional payments, such as interest and penalties, as well as the taxpayer's basic information (name, GSTIN, etc.), the period to which the return relates, the supplier's GSTIN, and invoices against which the tax has been deducted (categorised under the major tax heads of SGST, CGST, and IGST).

GSTR 8

Monthly return for e-commerce operators. Contains the taxpayer's fundamental details, such as name and GSTIN, as well as the period to which the return relates, details of supplies made to customers through the e-commerce portal by both registered taxable persons and unregistered persons, fundamental details about customers, including whether or not they are registered taxpayers, and the amount of tax collected at source, tax payable, and tax paid.

GSTR 9B

Yearly return for online store

GSTR 10

​After permanently ending business activities or cancelling a GST registration, you must submit GSTR10, the final GST return. It will include information on each purchase, liability, tax payment and collection, and other things.

GSTR 11

​Fill out Form GSTR-11, Variable Tax Return, if you are a taxpayer with a UIN (It contains the details of purchases made by foreign embassies and diplomatic missions for self consumption during a particular month).


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