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In India, all organizations registered under GST are required to file their GST returns based on the frequency that aligns with their business operations—monthly, quarterly, or annually. While this can seem complex, IndiaFilings simplifies the process with the support of experienced GST professionals, ensuring that businesses can easily navigate the required procedures. Adhering to GST submission deadlines is essential, as these returns help the Indian government assess the nation's tax obligations.

Streamline your GST return filing and maintain compliance effortlessly with IndiaFilings. With the LEDGERS GST platform, you can manage your business financials in real-time from anywhere, and its seamless integration with your existing apps ensures a smooth workflow.

what is GST return?

A GST Return is a document that businesses registered under the Goods and Services Tax (GST) must file with the tax authorities. It contains details of income, sales, purchases, and taxes paid, which helps the government assess the tax liability. Businesses must file their GST returns monthly, quarterly, or annually, depending on their turnover and business operations. Filing GST returns on time is essential to avoid penalties and maintain compliance.

The GST return filing encompasses several critical elements:

Purchases: Detailed record of all purchases made by the taxpayer.
Sales: Comprehensive log of the taxpayer's sales activities.
Output GST: GST charged on sales.
Input Tax Credit: GST paid on purchases, eligible for deduction from the GST payable on sales.

Who Should File GST Returns?

GST returns are mandatory for all businesses or individuals registered under the GST regime. This applies to entities whose annual turnover exceeds the specified threshold, which varies for standard taxpayers and those under the composition scheme.

How Many Returns are there under GST?

Within the Goods and Services Tax (GST) system, 13 returns cater to different facets of a taxpayer's financial dealings. It's important to recognize that not all taxpayers must file every type of return; the specific returns that need to be filed depend on the taxpayer's category and the particulars of their GST registration.

GSTR-1: Filed for disclosing details of outward supplies, essentially the sales.
GSTR-3B: A summarised return that outlines both sales and purchases, inclusive of tax payments.
GSTR-4: Applicable to those under the Composition Scheme, summarizing turnover and corresponding tax.
GSTR-5: For non-resident taxpayers conducting taxable transactions in India.
GSTR-5A: For providers of online information and database access or retrieval services.
GSTR-6: Used by Input Service Distributors for detailing input tax credit distribution.
GSTR-7: For entities required to deduct TDS under
GST.GSTR-8: To be filed by e-commerce operators reporting transactions on their platform.
GSTR-9: An annual comprehensive return summarizing all periodical filings over the fiscal year.
GSTR-10: The final return upon cancellation or surrender of GST registration.
GSTR-11: For those with a Unique Identity Number, claiming refunds on their purchases.
CMP-08: A quarterly statement for Composition Scheme taxpayers detailing tax liability.
ITC-04: For manufacturers to declare details about goods dispatched to and received from a job worker.

Additionally, there are return-related statements for input tax credits:

GSTR-2A (dynamic): Offers a real-time perspective of inward supplies as suppliers report.
GSTR-2B (static): Provides a fixed snapshot of inward supplies based on the suppliers' filings.

For small taxpayers enrolled in the Quarterly Return Monthly Payment (QRMP) scheme, the Invoice Furnishing Facility (IFF) permits the declaration of B2B sales during the first two months of a quarter. Nonetheless, these taxpayers are obligated to remit taxes monthly using Form PMT-06.

Penalty for Late Filing GST Returns

If you submit GST returns late, you could face penalties and interest charges. Businesses should submit on time to avoid these costs. Here's what you need to know about late GST returns: