Different Types of GST Return & Frequency of Filing

GSTR-1: GSTR-1 is a crucial GST return that involves reporting all outward supplies of goods and services made during a specific tax period, including debit and credit notes issued. This return is mandatory for "normal taxpayers," with exceptions for small taxpayers having a turnover up to Rs. 1.5 crore in the previous financial year. Normally filed on a monthly basis, it can also be filed quarterly under the QRMP scheme.

GSTR-2 SUSPENDED: GSTR-2, once an essential return for reporting inward supplies, has been suspended. It is now optional for taxpayers to file this return.

GSTR-2A: GSTR-2A serves as a read-only return, presenting details of inward supplies of goods and services received from registered suppliers during a specific tax period. This information is based on what suppliers report in their GSTR-1 return. No action is required for this return; it's for informational purposes and is filed on a monthly basis.

GSTR2B: GSTR-2B is a valuable auto-generated document functioning as an Input Tax Credit (ITC) statement. It's automatically generated on the 14th of the following month and aids in reducing return filing time, minimizing errors, facilitating reconciliation, and simplifying compliance.

GSTR-3 SUSPENDED: GSTR-3, formerly used for summarizing outward supplies, inward supplies, and tax liability calculations, has been suspended. Similar to GSTR-2, it's now optional for taxpayers to file this return.

GSTR-3B: GSTR-3B is a crucial monthly self-declaration return. It gathers information about outward supplies, input tax credit claimed, tax account definitions, and taxes paid. All normal taxpayers registered under GST must file this form on a monthly basis.

GSTR-4 (CMP-08): GSTR-4 is the GST return tailored for taxpayers who have opted for the "Composition Scheme" under GST. It's a quarterly return and replaces the older GSTR-4.

GSTR-5: GSTR-5 is a monthly return to be filed by non-resident foreign taxpayers conducting business transactions in India. It provides details of outward supplies made, inward supplies received, credit/debit notes, tax liability, and taxes paid.

GSTR-6: GSTR-6 is a monthly return for Input Service Distributors (ISDs) to report input tax credits received and distributed. It's a critical component in the GST framework.

GSTR-7: GSTR-7 is filed monthly by individuals who need to deduct Tax Deducted at Source (TDS) under GST. It outlines details of TDS deducted, TDS liability payable and paid, and any TDS refunds claimed.

GSTR-8: GSTR-8 is a monthly return for e-commerce operators registered under GST (TCS). It provides information about supplies made through the e-commerce platform and the TCS received.

GSTR-9: GSTR-9 is the annual return required for taxpayers registered under GST. It's now optional for businesses with turnovers up to Rs. 2 crores in FY 17-18 and FY 18-19. It encompasses details of supplies made and inward supplies received, compiling monthly or quarterly returns filed through GSTR-1, GSTR-2A, and GSTR-3B during that year.

GSTR-9A: GSTR-9A is an annual return for taxpayers under the 'Composition Scheme' for a financial year. However, this filing was suspended for FY 2017-18 and FY 2018-19 as per the 27th GST Council meeting. The frequency is quarterly.

GSTR-9C: GSTR-9C is an annual reconciliation statement required for taxpayers with a turnover exceeding Rs. 2 crore. It's filed annually and aims to reconcile financial and GST-related information.

GSTR-10: GSTR-10 is the final return filed after the cancellation of GST registration. The deadline is within a quarter from the registration cancellation date.

GSTR-11: GSTR-11 is for individuals with a Unique Identifying Number (UIN) to claim refunds on goods and services purchased in India. It includes details of internal supplies received and refunds claimed, mainly for foreign diplomatic embassies.

GST return file is mandatory for the following categories of taxpayers:

Regular Taxpayers: These are registered businesses with an annual turnover exceeding the specified threshold, which varies depending on the state. Regular taxpayers are obligated to file GST returns on a regular basis. The frequency of their return filing is determined by their turnover—either monthly or quarterly.

Composition Scheme Taxpayers: Small businesses with an annual turnover below the prescribed threshold can choose to enroll in the composition scheme. Taxpayers registered under this scheme are required to file their GST returns on a quarterly basis.

Input Service Distributors (ISD): Entities functioning as Input Service Distributors receive input services and distribute them to other branches or units within the same organization. ISDs are required to file monthly returns that provide comprehensive details about the input services received and distributed.

Non-Resident Taxpayers: Non-resident individuals or companies engaging in business activities within India, leading to taxable supplies, are obligated to file GST returns for the specific period during which they conduct these supplies. Regardless of their turnover, non-resident taxpayers need to file their returns on a monthly basis.

E-commerce Operators: Online platforms that facilitate the exchange of goods or services fall under the category of e-commerce operators. These operators have the responsibility of filing returns on behalf of the sellers registered on their platform. They must furnish detailed information about the supplies made through their platform.

Tax Deducted at Source (TDS) Deductors: Certain specified entities, including government departments, local authorities, and statutory bodies, are entrusted with the duty of deducting Tax Deducted at Source (TDS) on payments made to suppliers. TDS deductors are required to file monthly returns that provide comprehensive details about the TDS amounts deducted and subsequently deposited.

GST Return Filing Online: Procedures

To facilitate the process of filing GST returns online, the Indian government has established the Goods and Services Tax Network (GSTN) on the official GST portal at www.gst.gov.in. Follow these steps for seamless GST return filing:

Step 1: Visit the GST Portal:
Access the official GST portal (www.gst.gov.in) using a web browser.

Step 2: Obtain a GST Identification Number (GSTIN):
Generate a 15-digit GST Identification Number (GSTIN) that is based on your state code and PAN (Permanent Account Number).

Step 3: Upload Relevant Invoices:
Upload all the relevant invoices on the GST portal. For each invoice, you will receive an invoice reference number.

Step 4: Upload Inward and Outward Returns:
Upload both inward and outward returns on the portal.

Step 5: File Monthly GST Returns:
Ensure that all necessary data, including invoices and returns, are uploaded. Then, review and verify the information for accuracy.

Step 6: Submit the Returns:
Once you have reviewed and verified the data, submit the returns on the GST portal.

If you're looking for a streamlined experience in filing GST returns, Legalitis offers user-friendly online platforms for GST return filing services. Their dedicated representatives are available to guide you throughout the entire process and assist in collecting all the necessary documents. This assistance can simplify and expedite the GST return filing process for your business.

Different Types of GST Return Filing Invoices in India

Stock Bill and GST Return Filing:

• A stock bill is associated with a GST return filing receipt but does not include any tax amount since the seller cannot impose GST on the buyer.
• It is issued in cases where tax cannot be charged, such as when the registered person is dealing with exempted goods/services or has opted for the "composition scheme."

Invoice-Cum-Bill of Supply:

• As per Notification No. 45/2017 – Central Tax on October 13, 2017, if a registered person supplies taxable and exempted goods/services to an unregistered person, a single "invoice-cum-bill of supply" can be issued for such transactions.

Total Invoice for Small Amounts:

• If the utility of various bills is less than Rs. 200, and the buyer needs to be registered, the seller can issue an aggregate or bulk invoice for these smaller invoices regularly.

Debit and Credit Notes:

• A debit note is issued by the seller when the payable amount by the buyer increases. This could happen when the tax invoice has a lower taxable value.
• A credit note is issued by the seller in situations where the invoice amount decreases, the tax invoice has a higher taxable value, the buyer returns goods to the seller, or services are found to be deficient.

Who Should Issue GST Invoices:

• GST invoices should be issued by businesses that are registered under GST and are providing goods or services to their clients.
• Registered vendors providing goods or services to you should provide GST-compliant purchase invoices to you.

Essential Fields in a GST Invoice:

• HSN / SAC Code: HSN (Harmonized System of Nomenclature) code for goods or SAC (Services Accounting Code) for services must be mentioned.
• Taxable Value and Limits: The invoice should clearly indicate the taxable value of the goods or services provided.
• Signature of the Supplier: The invoice should be signed by the supplier.
• Client and Taxpayer's GSTIN: The GST Identification Number (GSTIN) of both the supplier and the recipient should be mentioned.
• Rate and Amount of Taxes: The applicable GST rates (CGST, SGST, IGST) along with the corresponding tax amounts should be clearly stated.
• Invoice Number and Date: A unique invoice number and the date of issuance should be included.
• Place of Supply: The state or territory where the supply is made should be specified.
• Product Details: Include detailed information about the products or services being supplied, including classification, quantity, unit of measurement, and total amount.
• Reverse Charge Basis: Indicate whether GST is payable on the reverse charge basis for specific supplies.
• Customer Details: The name of the customer receiving the goods or services should be provided.

Penalty for Not Filing GST Returns

Delayed GST return filing can indeed have significant consequences for taxpayers, leading to fines and penalties. If GST returns are not filed within the stipulated timeframe, taxpayers could incur late fees and interest charges. Here are the key points regarding the impact of delayed GST filing:

1. Interest and Late Fee: When GST returns are not filed on time, taxpayers are required to pay interest and a late fee. The interest is calculated at a rate of 18% per annum. The taxpayer can calculate the interest amount based on the outstanding tax payable.

2. Late Fee Calculation: The late fee consists of Rs. 100 per day per Act, which means Rs. 100 each under the Central Goods and Services Tax (CGST) and the State Goods and Services Tax (SGST). Therefore, the total late fee per day is Rs. 200. However, the maximum late fee is Rs. 5,000 (irrespective of the Integrated Goods and Services Tax or IGST).

Using the Offline Tool of New Return Filing System Prototype:

1. Forms and Annexures:

   • Annexure of Supplies (GST ANX-1)
   • Annexure of Inward Supplies (GST ANX-2)
   • Matching Tool: Auto-drafted details of GST ANX-2 with purchase register.

2. Login and User Profile:

   • User logs in and fills in their profile information. (Not saved or updated in prototype)

3. Initiating the Process:

   • User selects GSTIN and tax period.
   • Clicks 'Proceed' to move to GST ANX-1 and GST ANX-2 forms.

4. Form GST ANX-1:

   • Click 'Prepare Offline' under GST ANX-1.
   • Functionalities not available in the prototype: Import Excel/CSV, Open Downloaded JSON, Remove Data, Generate JSON, Export to Excel.
   • Prefilled tables with view-only access, including summary.
   • User fills in applicable tables, creates JSON file for upload on portal.

5. Form GST ANX-2:

   • Click 'Take Action' under GST ANX-2.
   • Functionalities not available in prototype: Open Downloaded JSON, Remove Data, Export to Excel, Generate JSON.
   • Matching Tool functionality shown with prefilled data.
   • User refines matching results, accepts/rejects/pends documents.

6. ITC Summary:

   • Summary of Input Tax Credit (ITC) in Table 4 after taking action.
   • View-only access, details auto-filled by offline tool.

7. Credit from ISD:

   • View credit received from Input Service Distributor (ISD) in Table 5 (view only).