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What is GST return?

GST return is a statement or a document that contains all the details of your sales, purchases, tax collected on sales (output tax), tax paid on purchases (input tax), adjustments thereof and the resulting tax liability (money that you owe the government). On or before filing the GST returns, you will need to pay the tax liability, if any.


Who needs to file GST return?

Every registered person is registered to file GST returns. The type of return varies according to the nature of their business or transactions. For e.g. A registered person under Composition scheme will have a different type of return than a regular registered person.

 

Types of GST Returns and Due dates:

There are various types of returns under GST like GSTR-1, GSTR-3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR-7, GSTR-8, GSTR-9, GSTR-10, GSTR-11, CMP-08, and ITC-04. However, all the types of returns do not apply to everyone. Taxpayers file returns based on the type of taxpayer or type of registration obtained. 


GSTR-1 and GSTR-3B (Also GSTR-2A & 2B )

Practically, the most important returns are GSTR-1 and GSTR-3B, which we will learn in detail. Please note that GSTR-2A, GSTR-2B are not returns but a statement which is auto generated by the portal.



GSTR-1 (outward Supplies) / IFF

GSTR-1 is the return to be furnished for reporting details of all outward supplies of goods and services made.

In other words, it contains the invoices and debit-credit notes raised on the sales transactions for a tax period. GSTR-1 is to be filed by all normal taxpayers who are registered under GST, including all the casual taxable persons.
Any amendments to sales invoices made, even pertaining to previous tax periods, should be reported in the GSTR-1 return by all the suppliers or sellers.

Due Dates

The filing frequency of GSTR-1 is currently as follows:

(a) Monthly, by 11th of every month:

Registered person, who are not under QRMP Scheme - 11th of the next month 
QRMP - Quarterly Returns Monthly Payment


(b) Quarterly, by 13th of the month following every quarter:

Registered persons, who have opted for QRMP Scheme - 13th of the subsequent
month.

QRMP scheme is only allowed to persons whose turnover is upto Rs. 5 crores in the preceding financial year. Please note as the name suggests Returns are to be filed quarterly but tax payment has to be done monthly.
Such persons can  furnish details of outward supplies using IFF (Invoice Furnishing Facility) for the first two months of the quarter by 13th of subsequent months. Invoices furnished using the said facility in the first two months are not required to be furnished again in Form GSTR-1.

 

Is QRMP scheme mandatory for those whose turnover is less than Rs.5 crores ?

Yes
No

GSTR – 2A (ITC data - dynamic)

GSTR-2A is a view-only dynamic GST statement relevant for the recipient or the buyer. It contains the details of all inward supplies of goods and services i.e., purchases made from GST registered suppliers during a tax period.

The data is auto-populated based on data filed by the corresponding suppliers in their GSTR-1 returns. Further, data filed in the Invoice Furnishing Facility (IFF) by the QRMP taxpayer, also get auto-filled.

Since GSTR-2A is a read-only statement, no action can be taken on it. However, it is referred by the buyers to claim an accurate Input Tax Credit (ITC) for every financial year, across multiple tax periods. In case any invoice is missing, the buyer can communicate with the seller to upload it in their GSTR-1 on a timely basis.

In short, the data filled in GSTR-1 by the Suppliers comes to GSTR-2A of the Buyer automatically.

 

GSTR-2B (ITC data - static)

GSTR-2B is again a view-only static GST statement important for the recipient or buyer of goods and services. It is available every month, starting from August 2020 and contains constant ITC data for a period whenever checked.

ITC details will be covered from the date of filing GSTR-1 for the preceding month (M-1) up to the date of filing GSTR-1 for the current month (M). The return is made available 1 day after the dues dates of GSTR-1 or IFF. Hence on the 14th of every month is the ideal date, giving sufficient time before filing GSTR-3B, where the ITC is declared.


GSTR-2B provides action to be taken against every invoice reported, such as to be reversed, ineligible, subject to reverse charge, references to the table numbers in GSTR-3B.

GSTR-3B (Summary Return)

GSTR-3B is a monthly self-declaration return to be filed, for furnishing summarised details of all outward supplies made, input tax credit claimed, tax liability ascertained and taxes paid.

GSTR-3B is to be filed by all regular taxpayers registered under GST. The sales and input tax credit details must be reconciled with GSTR-1 and GSTR-2B every tax period before filing GSTR-3B. GST reconciliation is crucial to identify mismatches in data that may lead to GST notices in future or suspension of GST registration as well.

The filing frequency of GSTR-3B is currently as follows:
(a) Monthly, 20th of every month- Registered persons, who are not under the QRMP Scheme.

(b) Quarterly, 22nd of the month following the quarter for category 1 States and 24th of the month following the quarter for category 2 States

 

Category 1 States/UT – Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep.

Category 2 States/UT- Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union Territories of Jammu and Kashmir, Ladakh, Chandigarh and New Delhi.

The tax payer who has opted for QRMP, needs to pay the tax due in each of the first two months of the quarter by depositing the due amount in Form GST PMT-06, by the 25th day of the month succeeding such month under the head “Monthly payment for quarterly taxpayer”.

Other Forms - At a Glance:

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