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Returns mechanism under in GST regime includes electronic filing, uploading of invoice details and auto- generate of Input Tax Credit (ITC) details from suppliers Returns.

Goods and Services Tax is payable by taxable person on self-assessment basis (like under Income Tax Act, 1961). A registered person needs to furnish monthly returns, quarterly returns, annual return & final return.  

Following table depicts the various returns under GST Regime

Return

Particulars

To Be field by

Frequency

Due Date

GSTR - 1

Outward Sales

Registered Person

Monthly

10th of Next Month*

GSTR - 2

Purchases

Monthly

15th of Next Month **

GSTR - 3

Return along with the payment of amount of tax

Monthly

20th of Next Month

GSTR - 4

Quarterly Return

Taxable Person opting for

Composition Levy

Quarterly

18th of Month of next qtr.

GSTR - 5

By Non-Residents

Non-resident Taxpayer

Monthly

20th of Next Month

GSTR - 6

Input Service Distributors

Input Service Distributor

Monthly

15th of Next Month

GSTR - 7

Return for TDS

Tax Deductor

Monthly

10th of Next Month

GSTR - 8

By E-Commerce Companies

E-Commerce Operator

Monthly

10th of Next Month

GSTR - 9

Annual Return

Registered Person other

than an ISD, TDS/TCS

Taxpayer, Casual Taxable

Person and Non-resident

Taxpayer

Annually

31st Dec of next F. yr.

GSTR - 10

Final Return

Taxable Person whose registration has been

surrendered or cancelled

Within three months of

the date of cancellation

or date of order of cancellation, whichever

is later.

As mentioned above, there are separate returns for a taxpayer registered under the composition scheme, non - resident taxpayer, an Input Service Distributor, a person liable to deduct or collect the tax (TDS/ TCS).

It is important to note that a taxpayer is NOT required to file all types of returns, i.e. they are required to file returns depending on their nature of activities carrying.

GST Returns can be filed using any of the following methods

1. GSTN portal (www.gst.gov.in)
2. Offline utilities provided by GSTN
3. GST Suvidha Providers (GSPs)

Key Issues

  1. GST Returns to be field by taxable person on self - assessment basis.
  2. Taxable person can take the help of GST Practitioner in filing return, etc.  
  3. Invoice - wise details of outward supplies shall be uploaded to the GSTN by using From GSTR - 1.
  4. The details will be auto-populated in Form GSTR 2A of the recipient. 
  5. The receipt can confirm the details in Form GSTR 2.
  6. The supplier can confirm the details in Form GSTR 1A.
  7. Tax Liability Register shall be in Form GST PMT 01.
  8. Approved of final detail of Input Tax Credit (ITC) will be in Form GST ITC 1  
  9. Payment of tax on self-assessment basis and filing of Return shall be in Form GSTR  - 3
  10. Payment: Over the counter payment will be allowed up to `. 10,000 by generating a challan in Form GST PMT - 05. Payment of tax over than Rs. 10,000 will be allowed only by way of E- payment like Credit / Debit Card, NEFT or RTGS etc.

* For the month of July - by 1st - 5th September, 2017
For the month of August- by 16th - 20th September, 2017

** For the month of July - by 6th - 10th September, 2017
For the month of August - by 21st - 25th September, 2017

*** Form GSTR - 3B (Summary of outward and inward supplies)
For the month of July- by 20th August, 2017
For the month of August- by 20th September, 2017

Source: CBEC, GST Council’s Meeting Reports & Approved Final GST Return Rules

The author is a tax law professional and can also be reached at shreetaxchambers@bsnl.in 


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Category GST, Other Articles by - Prabhakar K S 



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