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Types of GST Returns and How to File? : A Step-by-step guide

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New Delhi :

Goods and services tax is an indirect tax applicable from July 1st, 2017 across India. GST return is the filing of taxes through GSTR forms according to the slabs and eligibility criteria.

A return is a document containing details of income that a taxpayer is required to file with the tax administrative authorities.

To file GST returns or GST filing, GST compliant sales and purchase invoices are required. This is used by tax authorities to calculate tax liability.

Under GST, a registered dealer has to file GST returns that include purchases, sales, output GST (On sales), input tax credit (GST paid on purchases).

Who has to file GST Return:

All registered businesses have to file monthly, quarterly, and/or annual GST Returns based on the type of business.

Under the GST returns, the taxpayers running their firms and business across India, whether it is interstate or intrastate, are liable to file for GST returns as prescribed by the GST council and indirect tax department.

List of GST Returns:

GSTR-1 – The registered taxable supplier should file details of outward supplies of taxable goods and services as affected.

GSTR-2 – The registered taxable recipient should file details of inward supplies of taxable goods and services claiming the input tax credit (Currently Filing facility of GSTR-2 is not available on the portal).

GSTR-3B – The registered taxable person should file the monthly return on the basis of finalization of Summarized details of outward supplies & inward supplies plus the payment of an amount of tax.

GSTR-4 (CMP 08) – Composition supplier should file the quarterly return for depositing payment

GSTR-5 – Return for the non-resident taxable foreign taxpayer

GSTR-5A – Return for the OIDAR

GSTR-6 – Return for input service distributor

GSTR-7 – Return for authorities carrying out tax deduction at source

GSTR-8 – E-commerce operator or tax collector should file details of supplies affected and the amount of tax collected

GSTR-9 – The registered regular taxpayer should file an annual return

GSTR-9A – The composition traders should file an annual return

GSTR-9C – Turnover Above 2 crores (Regular Taxpayers) in a Particular FY

GSTR-10 – The taxable person whose registration has been canceled or surrendered should file the final return

GSTR-11 – The person having UIN claiming the refund should file details of inward supplies

How to file GST Return online:

1) Visit the GST portal (www.gst.gov.in). A 15-digit GST identification number will be issued based on your state code and PAN number.

2) Upload invoices on the GST portal or the software. An invoice reference number will be issued against each invoice.

3) After uploading invoices, outward return, inward return, and cumulative monthly return have to be filed online.

4) File the outward supply returns in GSTR-1 form through the information section at the GST Common Portal (GSTN) on or before the 10th of the following month.

5) If there are any errors, you have the option to correct them and refile the returns.

 

 

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