The Goods and Services Tax (GST) is a unified tax system that has simplified indirect taxation in India. For businesses and individuals registered under GST, GST return is a mandatory part of compliance. Filing these returns ensures accurate tax reporting, facilitates input tax credit claims, and helps maintain transparency in the tax system.
This guide will take you through everything you need to know about GST returns, including filing procedures, types, due dates, and penalties.
What is a GST Return?
A GST return is a statement filed with the GST authorities that records a taxpayer’s business activity, including:
- Sales and purchases
- Output GST liability
- Input tax credit (ITC) claims
- Payments made
This return is used to calculate the taxpayer’s net GST liability or refund, if any. Filing GST returns is mandatory for all GST-registered entities, even if no transactions occur in a given period.
Who should file GST Return?
Filing GST returns is a legal requirement for all GST-registered entities. Here’s a breakdown of who needs to file:
- Regular Taxpayers: Entities with turnover exceeding ₹20 lakh (₹10 lakh in some states) must file monthly returns.
- Composition Scheme Taxpayers: Businesses opting for the composition scheme file quarterly returns.
- E-commerce Operators: Online platforms that facilitate transactions must file returns like GSTR-8.
- Input Service Distributors (ISD): ISDs distribute input tax credit among branches by filing GSTR-6.
- Casual Taxable Persons: Individuals conducting occasional taxable transactions.
- Non-resident Taxable Persons: Non-residents conducting business in India must file GSTR-5.
How many Returns are there under GST?
Under GST, the number of returns varies depending on the taxpayer type. A regular taxpayer files a minimum of 25 returns annually, including monthly returns and an annual return. Composition scheme taxpayers file five returns annually.
Overall, the frequency and type of returns depend on the taxpayer’s classification.
Types of GST Returns and their Due Dates?
Each type of GST return serves a specific purpose. Below is a detailed look at the most common returns and their due dates:
| Return Type | Description | Frequency | GST Return Due Date |
| GSTR-1 | Details of outward supplies (sales) | Monthly/ Quarterly | 11th of the following month |
| GSTR-2A/2B | Auto-drafted inward supplies (view only) | Monthly | N/A |
| GSTR-3B | Summary of tax liability, ITC, and tax payment | Monthly | 20th of the following month |
| CMP-08 | Quarterly return for composition scheme taxpayers | Quarterly | 18th of the following month |
| GSTR-4 | Annual return for composition scheme taxpayers | Annually | 30th April of the following year |
| GSTR-5 | Return for non-resident taxable persons | Monthly | 20th of the following month |
| GSTR-9 | Annual return for regular taxpayers | Annually | 31st December of the following year |
Due Dates to File GST Returns
Staying updated with GST return due dates is crucial to avoid penalties. Here are some key upcoming due dates:
- GSTR-1: 11th November 2024
- GSTR-3B: 20th November 2024
- CMP-08 (for Q3): 18th January 2025
Late Fees for Not Filing GST Returns on Time
Failing to file returns within the specified GST due dates leads to penalties, calculated as follows:
- For Regular Returns: ₹50 per day (₹25 CGST + ₹25 SGST)
- For Nil Returns: ₹20 per day (₹10 CGST + ₹10 SGST)
- For Annual Returns: Penalty depends on turnover but is capped at ₹200 per day.
The late fee is subject to a maximum cap of ₹5,000 for most returns, excluding annual filings.
How are GST Returns Filed or Submitted?
Filing GST returns online is straightforward with the GST portal. Here’s how you can file your GST return:
- Login to the GST Portal: Visit [gst.gov.in](https://gst.gov.in) and log in with your credentials.
- Select the Relevant Return: Choose the return type (e.g., GSTR-1, GSTR-3B).
- Prepare the Return: Enter details of outward/inward supplies, tax paid, and ITC claimed.
- Upload Data: If applicable, upload invoices and reconcile data with your accounting records.
- Preview and Submit: Review the details and submit the return.
- Pay Taxes: Clear any outstanding tax liabilities.
- Download Acknowledgement: Save the filed return for future reference.
Does GST have to be Paid Monthly?
In most cases, GST payments are made monthly, aligned with the filing of GSTR-3B. However, composition scheme taxpayers pay GST quarterly through CMP-08.
Conclusion
Filing GST returns on time is critical for every GST-registered entity. It ensures smooth business operations, allows input tax credit claims, and helps maintain compliance. Missing GST return due dates can lead to penalties, so staying updated is vital.
The GST system, with its structured filing process, has made taxation more transparent and efficient. By understanding the types of returns and their filing methods, businesses can confidently navigate the compliance landscape.
FAQs
1. What is a GST return?
A GST return is a statement of sales, purchases, input tax credits, and tax liabilities filed by GST-registered taxpayers.
2. What are the types of GST returns?
Common types include GSTR-1, GSTR-3B, CMP-08, GSTR-4, and GSTR-9. Each serves a different purpose.
3. What are the late fees for not filing a GST return?
Late fees start at ₹50 per day for regular returns and ₹20 per day for nil returns.
4. Can I revise a GST return after submission?
No, GST returns cannot be revised. Corrections can only be made in subsequent filings.
5. Is GST filing mandatory for businesses with no transactions?
Yes, filing nil GST returns is mandatory to maintain compliance.
