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GST Return – what is GST Return and who should file & sorts of GST Returns?
5 Oct 2020

All registered businesses need to file monthly, quarterly, and/or annual GST Returns supported the sort of business. There are so many GST Consultants in Gurgaon, Lakshmi Associates is one of the best.

Lakshmi Associates helps GST registration in Gurgaon & GST filings in online happen on the GST portal. During this topic, we cover the subsequent topics

1. What is GST Return?

2. Who should file GST Returns?

3. Sorts of GST Returns? 

1.    What is GST Return?

A return may be a document containing details of income that a taxpayer is required to file with the tax administrative authorities. This is often employed by tax authorities to calculate liabilities. Under GST, a registered dealer has got to file GST returns that include:

· Purchases

· Sales

· Output GST (On sales)

· Input decrease (GST paid on purchases)

To file GST returns or GST filing, GST compliant sales and buy invoices are required. You’ll generate GST compliant invoices for free of charge from one of the best CA firms in Gurgaon.

2.    Who should file GST Returns?

In the GST regime, any regular business has got to file two monthly returns and one annual return. This amounts to 26 returns during a year. The number of GST filings varies for quarterly GSTR-1 filers. The amount of GST filings online for them is 17 during a year. There are separate returns required to be filed by special cases like composition dealers whose number of GST filings is 5 during a year. 

3.    What are the various sorts of GST Returns?

Here may be a list of all the returns to be filed as prescribed under the GST Law alongside the due dates.

I. GSTR-1: Details of outward supplies of taxable goods and/or services affected – Monthly

II. GSTR-2: Details of inward supplies of taxable goods and/or services effected claiming the input tax credit – Monthly

III. GSTR-3: Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of tax – Monthly

IV. GSTR-3B: Simple return in which a summary of outward supplies along with input tax credit is declared and payment of tax is affected by the taxpayer – Monthly

V. GSTR-4: Return for a taxpayer registered under the composition scheme under section 10 of the CGST Act (supplier of goods) and CGST(Rate) notification no. 02/2019 dated 7th March 2020 (SOS) – Annually

VI. GSTR-5: Return for a non-resident foreign taxable person – Monthly

VII. GSTR-6: Return for an input service distributor to distribute the eligible input tax credit to its branches - Monthly

VIII. GSTR-7: Return for government authorities deducting tax at source (TDS) - Monthly

IX. GSTR-8: Details of supplies effected through e-commerce operators and the amount of tax collected at source by them - Monthly

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

XI. GSTR-9A: Annual return to be filed by a taxpayer registered under the composition levy anytime during the year - Annually

XII. GSTR-9C: Certified reconciliation statement - Annually

XIII. GSTR-10: Final return to be filed by a taxpayer whose GST registration is canceled. Once, when GST registration is canceled or surrendered


XIV. GSTR-11: Details of inward supplies to be furnished by a person having UIN and claiming a refund – Monthly

· Subject to changes by Notifications/ Orders

· Statement of self-assessed tax by composition dealers – same because the erstwhile form GSTR-4, which is now made an annual return with effect from FY 2019-2020 onwards.



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