What is GST return?

Every person registered under GST Act has to periodically furnish the details of sales, purchases and tax paid and collected theron by filing return with GST Authorities. Before filing any return payment of tax due is pre requisite otherwise such return will be invalid.

Steps for filing GST return:

  • Eliminating cascading effect of taxes.

  • Tax rates will be comparatively lower as the tax base will widen.

  • Seamless flow of Input tax credit.

  • Prices of the goods and services will fall.

  • Efficient supply change management.

  • Promote shift from unorganised sector to organised sector.

GST return filing process

Types of returns under GST

There are multiple return under the GST regime. The most common used return will be GSTR 1, 2 ,3, 4 & 9. GSTR 1, GSTR 2 & GSTR 3 will be submitted by all businesses on a monthly basis. GSTR 4 is submitted on a quarterly basis and GSTR 9 on an annual basis.

Return/Form Details Frequency Due Date
GSTR-1 Outward sales by business Monthly 10th of next month
GSTR-2 Purchases made by Business Monthly 15th of next month
GSTR-3 GST monthly return along with the payment of amount of tax Monthly 20th of next month
GSTR-4 Quarterly return for GST Quarterly 18th of month next quarter
GSTR-5 Periodic return by Non-Resident foreign taxpayer Monthly 20th of next month
GSTR-6 Return for Input Service Distributor (ISD). Monthly 15th of next month
GSTR-7 GST Return for TDS Monthly 10th of next month
GSTR-8 GST return for ecommerce suppliers Monthly 10th of next month
GSTR-9 GST Annual Return Annually 31st Dec of next financial year