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File GST Returns for FY18-19 Online

gst returns

 

How to file GST Returns

As of 1st July 2017, India saw a new tax reform coming into the act. The goods and service tax, aka GST, is the single indirect tax levied on goods and services of business entities. It is the single tax that ventures have to pay cutting out different tax heads like VAT, indirect tax etc. All business entities engaging in the business of over Rs.25 lakh annually need to register with the GST portal. Once registered, taxpayers then have to provide information such as sales, purchases, and tax paid and collected. Once all this information is provided GST returns need to be filed. The process of filing the GST returns is mentioned in the blog below.

A registered business entity has to file returns on the following criteria:

 

  1. Total Sales of the Month
  2. Total Purchase of the Month
  3. Total Input GST Credit Tax
  4. Total Output GST Tax

 

In the table mentioned below, there are different types of taxpayers and the forms need to be filled by them.

 

Types of Taxpayers GST Return Forms Due Dates
Normal Taxpayer GSTR 1 10th of the month
  GSTR 1A 15th of the month
  GSTR 2 15th of the month*
  GSTR 2A 15th of the month
  GSTR 3 20th of the month*
  GSTR 9 31st December – Annually
Composition Taxpayer GSTR 4 18th of every quarter
  GSTR 4A 18th of every quarter
  GSTR 9A 31st December – Annually
Foreign Non-Resident Taxpayer GSTR 5 20th of the month
Input Service Distributors GSTR 6 13th of the month
Tax Deductors GSTR 7 10th of the month
E-Commerce Portals GSTR 8 10th of the month
Apply for GST Business LoanApply for GST Business Loan

How to Download GSTR Forms

 

For downloading GSTR Forms, taxpayers need to follow the below-mentioned steps :

Step 1: Visit the official website of GST gst.gov.in

Step 2: Click “Downloads”

Step 3: Click “Offline Tools” and then click “Returns Office Tools”

Step 4: Click GSTR __ Form no. download

– GSTR 1 Form

 

The return of outward supplies must be filed by all business entities who have registered under the GST portal. This filing is to be done on a monthly basis on the 10th of every month. The form is to be filled by the supplier and the buyer has to validate the information made on the form.

The form contains the following details

  1. Business name, address, GSTIN
  2. Total Turnover of last financial year
  3. Details of outward sales made to end customers (Value exceeding 2.5 Lakhs and Value not exceeding 2.5 Lakhs)
  4. Invoice issued in the previous month and taxes collected

 

– GSTR 1A Form

 

This form is used to update any changes made in the GSTR 1 form. It includes the same details mentioned in the GSTR 1 form and if changes need to be made in the GSTIN or taxpayer name, changes in credit/debit notes etc. needs to be done here.

– GSTR 2 Form

 

The return of inward supplies of goods and services is the GSTR 2 form. It needs to be filled on the 15th of every month.* It includes various input taxables under the GST reform.

*As of 1st June 2018, the GSTR 2 form has been suspended temporarily.

The form contains the following details

  1. Business name, address, GSTIN
  2. Total Turnover of last financial year
  3. Advances received against supply orders in the future
  4. Invoice issued in the previous month and taxes collected

 

– GSTR 2A Form

 

This form is used to add, modify to delete any changes in the GSTR 2 form. The form helps in checking and validating the information provided. The GSTR 2A form is automatically generated using the information provided by the business entity in the GSTR 1 Form. This leads to no separate filing of the GSTR 2A form.

– GSTR 3 Form

 

The taxpayer has to file the GSTR 3 form which is automatically generated once the GSTR 1 form and GSTR 2 form has been filled. The taxpayer just has to check in all the details and modify and make changes wherever necessary. The GSTR 3 is a combination of the input and the output supplies of goods and services. The form is automatically prepared on the 20th of every month.*

* As of 1st June 2018, the GSTR 3 form has been suspended temporarily.

– GSTR 9 Form

 

This form includes all the information about the imports and exports and income and expenditure done by the taxpayer. The form includes details of the tax paid by the business entity during the year. This form needs to be filled annually on 31st December of the Financial Year. The GSTR 9 is also an accumulation of all 12 monthly GSTR 3 forms. The details submitted by the entity have to be audited if the turnover of the entity is more than Rs. 2 crores.

The form contains the following details:

  1. Details of income and expenditure
  2. Return Reconciliation Statement
  3. P&L Statement of the firm
  4. Details of import and export

These are the forms that need to be filled by normal taxpayers under the GST portal. Moving on, we will be talking about the forms need to be filled under the composition head of GST. If you want to know more about the composition structure under GST, read this article.

 

– GSTR 9A Form

 

Similar to the GSTR 9 form that needs to be filled annually by normal taxpayers, the GSTR 9A form is the annual form that needs to be filled by taxpayers under the composition scheme. It needs to be filled on 31st December or before of the Financial Year.

The form contains the following details:

  1. Turnover of the business entity/taxpayer
  2. Details of inward supplies, outward supplies and tax details
  3. Consolidated statements of receipt supplies

The above mentioned 3 forms are to be filled by the taxpayers under the composition scheme. Moving onto the next head is the GSTR form 5 that needs to be filled by Foreign Non-Resident Taxpayer.

– GSTR 4 Form

 

This form is exclusively for those taxpayers who fall under the composition scheme criteria. The form contains details like tax paid and the total value of supplies and sales. GSTR 4 needs to be filled quarterly and the due date is the 18th of every quarter.

The form contains the following details:

  1. Turnover of the business entity/taxpayer
  2. Details of inward supplies, outward supplies, and tax details
  3. Consolidated statements of receipt supplies

 

– GSTR 4A Form

 

This form is similar to the GSTR 2A form. It is an automatically generated form once you have filled in the details of the GSTR 4 form. This form includes details of the inward supplies by the suppliers in the GSTR 1 form. This form is generated only for the composition scheme taxpayers. There is no separate form filling required as this form is automatically generated.

– GSTR 5 Form

 

Any non-resident foreign taxpayer has to fill the GSTR 5 form which is provided on the GST portal. This includes all details like import and exports and inward and outward supplies. The form is to be filled on the 20th of every month. As foreign non-resident taxpayers have an expiry to their GST certificate, the taxpayers need to ensure the form is filled within 7 days of expiry.

The form contains the following details:

  1. Details of imported goods and services
  2. Details of exported goods and outward supplies
  3. Debit and Credit Note details
  4. Tax Paid by the entity

– GSTR 6 Form

 

The next form under an individual head is the form filled by the input service distributors. This form contains details of purchases and inward supplies. This form is mainly used by organizations operating as input service distributors. The form needs to be filled on the 13th of every month.

The form contains the following details:

  1. Debit/Credit Note Details
  2. Details of supplies acquired
  3. Input service distributor ledger
  4. The amount of input credit available

– GSTR 7 Form

 

The form GSTR 7 is to be filled by a taxpayer who is required to deduct TDS. This form contains details like TDS Deducted, TDS liability, and TDS refund if any. The form is due on the 10th of every month. Only those entities that have a registration under GST TDS can opt for this return and can deduct tax at source. Revisions can only be made in the month post the form has been uploaded. For eg. If a revision for the month of August needs to be done, it can only be done in the month of September or post, once the error has been detected.

The form contains the following details:

  1. TDS details from vendor/suppliers for inward supplies
  2. The liability that has been paid and that is to be paid
  3. Applicable return period
  4. A refund that can be claimed

– GSTR 8 Form

 

All business entities that conduct their business on e-commerce platform i.e. through online and digital modes need to fill the GSTR form no. 8 for their returns. This form needs to be filled monthly and is due on every 10th of the month. Taxable supplies and tax collected at source by the business entities need to be reported in the form.

The form contains the following details:

  1. Supply information to registered and un-registered business entities
  2. Month, year and tax period
  3. Tax Collected at Source for the time period
  4. Tax Paid and Tax Liability

How to file GST returns online?

 

Now that we have covered the different types and heads of GST returns that your business entity can fall under, let’s get to the process of how to file your returns online. Before we get started, this is a detailed file provided by the government for the process of filing your returns. The returns can be filed via the internet portal or even the GST app for online services. If you wish to file your returns offline, there are authorized banks approved by the government where you can also file your returns. Follow this link to know more about the offline GST return filing process.

Steps to follow for filing GST Returns online

  1. Click on the GST portal link –  http://www.gst.gov.in
  2. Once your registration process is complete, a 15- digit GSTIN will be provided to you to log into your account. To know more about this, read our blog on GST Verification.
  3. Upload your invoices on the portal. A reference number will be provided against each invoice you have uploaded. (Go to website gst.gov.in> Dashboard> Service> Returns> Returns Dashboard> File returns> Details of outward supplies of goods or services> Prepare online)
  4. Once uploaded, check for any errors and if any, correct them.
  5. Based on the category you fall under for the filing of returns, download those forms and upload them on the portal again.

File GST return with GSTN

 

Companies have to file 3 monthly returns every 3 months and one annual return in a financial year (37 returns in total). GSTN has launched a simple excel based template to make the filing of returns easier for businesses. The Excel workbook can be downloaded from the GST common portal free of charge. Taxpayers/Business entities can use this template to collate invoice data on a regular basis. The details of inward and outward supplies can be uploaded on the GST portal on or before the due date.

Penalty for late filings of GST Returns

An 18% p.a. will be levied upon the taxpayer/business entity on the total amount taxable for every late return the taxpayer has paid. Additionally, an Rs. 100 per day for CGST (Central Goods and Service Tax) and Rs. 100 per day for SGST (State Goods and Service Tax) totaling off to Rs. 200 per day to a maximum cap of Rs. 5000.

These are mostly the main pointers one needs to keep in mind while filing for his GST returns and ensures all the data mentioned is accurate and tax is paid on time.


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