All about GST Returns  What is it? Who should file? Types of GST Returns? - Legalo

All about GST Returns — What is it? Who should file? Types of GST Returns?

As per the GST law, every organization, either a private limited, or proprietorship, or limited liability, registered under GST act, has to provide the information of sales, purchases, and the tax amount, to the administration.

Also the registered businesses need to file their monthly, quarterly or the annual GST returns on the basis of company type, through a completely digital process.

Firstly, let’s look into the details of GST returns.

What is GST Return?

Any person who applies for GST registration will also have to make a GST return filing. GST return is a document which contains all details of the income which a taxpayer is mandated to file with the administrative authorities. With this information, tax authorities calculate the amount of tax to be received.

As per the GST law, a registered vendor needs to furnish a GST return filing that includes information of:

To be noted: For GST return filing, the GST compliant sales and purchase invoices are required. In absence of a GST compliant invoice, the GST return is not possible.

Who is eligible for GST returns?

The merchants, dealers, and business entity owners are required to file two monthly GST returns and one annual GST return as well. There are various kinds of GST returns and late filing invites monetary penalty. Based on the nature of business, different nature of GST gets levied which must be checked accordingly.

Different types of GST returns?

Following are the types of GST return along with the name of return form:

1. GSTR-1: Monthly return for the details of the outward supply of taxable goods

2. GSTR-3B: Monthly return to declare the outward supplies along with input tax

3. CMP-08: Quarterly statement to make payment under composition scheme under sec10 Of GST act.

4. GSTR-4: Annual Return for taxpayer registered under composition scheme

5. GSTR-5: Monthly return for non-resident foreign taxable person

6. GSTR-6: Monthly return for input service distributor to distribute the eligible input tax credit to the branches.

7. GSTR-7: Monthly return for Government authorities deducing TDS

8. GSTR-8: Monthly return for the details of supplies effected through e-commerce operators

9. GSTR-9: Annual return for a normal taxpayer.

10. GSTR-9A: Annual return to be filed by normal taxpayers registered under composition levy.

11. GSTR-9C: Annual Certified reconciliation statement

12. GSTR-10: Final return to be filed by a taxpayer whose GST registration is cancelled.

13. GSTR-11: Monthly details of inward supplies furnished by persons having UIN and claiming a refund.


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