1. There will be common E-Return for CGST, SGST, IGST and Additional Tax.
2. Every registered person is required to file a return for the prescribed tax period. A return needs to be filed even if there is no business activity (i.e. Nil Return) during the said tax period of return.
3. Final invoice-level supply information pertaining to the tax period to be reported separately for goods and services. I have suggested at mygov.in that alternatively, it should also be allowed for customer wise i.e. aggregate supplies made to a GSTIN during a period should be allowed to be reported summarily instead of invoice level reporting to save valuable resources.
4. Normal / Regular taxpayers (including casual taxpayers) would have to file GSTR-1 (details of outward supplies) (Annexure-II), GSTR-2 (details of inward supplies) (Annexure-III) and GSTR-3 (monthly Return) (Annexure-IV) for each registration.
5. Compounding taxpayers would have to file a quarterly return called GSTR-4 (Annexure-V)
6. Annual return (GSTR-8) (Annexure-IX) will be filed by all normal / regular taxpayers. It will be based on financial records. Cut-Off date would be 31st December following the end of the FY. This statement would provide a reconciliation of the returns with the audited financial statements of the taxpayer. Since this return captures the minutest details of income and expenditure of the taxpayer, the gross profit/loss arrived on the basis of the details submitted in this statement should tally with the gross profit/loss indicated in the Profit and Loss Account of the dealer!!!
8. Cut-off date for filing of details of outward supplies (GSTR-1), inward supplies (GSTR-2) and Monthly return (GSTR-3) would be10th, 15th and 20th day respectively of the succeeding month for all Monthly filers.
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