Information About GST Return
What is a return?
A return is
a statement of financial activity by a taxable person for a prescribed period.
This allows a taxable person to self-assess the tax they owe for that period.
Types of GST Returns to be filed by
normal taxpayers
GSTR-1
The taxpayer
records all his outward supplies of goods and services in details in this form.
This has to be mandatorily done by the 10th of the next month (GSTN is
frequently changing the due date of filing GSTR1. So, keep checking
announcements). This will form the basis for all future flow and match for
credit reconciliations. GSTR-1 is a detailed form containing 13 different
heads. The critical headings are:
GSTIN of the
Taxable Person – Auto-populated results
Name –
Auto-populated result
Gross
Turnover in Last Financial Year – This has to be filed only once. From next
year onwards, this field will be auto-populated
The Period
for which the return is being filed – Month & Year shall be available as a
drop-down for selection
Taxable
outward supplies – Here, IGST shall be filled only in the case of inter-state
movement whereas CGST and SGST shall be filled in case of
intra-state
movement. Moreover, details of any exempted sales or sale at nil rate of tax
shall also be mentioned here
Outward
Supplies to end customer, where the value exceeds ₹ 2.5 lakhs – Other than mentioned, all such
supplies are optional in nature
Any other
supplies not covered in above 2 sections
Debit Notes
or Credit Notes Details
Amendments
to the details of any outward supplies of previous periods – This does not
cover any changes by way of debit/credit notes
Exempted,
Nil-Rated and Non-GST Supplies – This is a Non-GST section. When the details of
exempted sales or nil-rated sales have already been mentioned anywhere above,
then only Non-GST shall be filled up here
Export Sales
Tax
Liability arising out of advance receipts
Tax Paid
GSTR-2 A
It is
available on the 11th of the next month for the recipients to see and validate
the information therein. Recipients have time between 11th – 15th of the next
month to change any information, delete or add, based on their books of
accounts.
GSTR-2 A
This form is
the culmination of all inward supplies of goods and services as approved by the
recipient of the services. The due date is 15th of the next month. It is
auto-populated with the details of GSTR-2A. GSTR-2 shall include the following
heads:
GSTIN of the
Taxable Person – Auto populated result
Name – Auto
populated result
The Period
for which the return is being filed – Month & Year shall be available as a
drop-down for selection
Details of
all inward supplies – Auto populated with the details of GSTR-1. The taxable
person can make any further addition or changes to the invoice here
Changes to
the inward supplies made for any previous period
Import of
Goods – Imports are treated as Inter-state supply and IGST shall be applicable
on the same
Import of
Goods in earlier periods
Services
received from a person outside India (Import of Services)
Import of
Services in earlier periods
Debit notes
or Credit notes Details
Amendments
made to Debit or Credit notes of previous periods
Inward
supplies emanating from unregistered persons
Credits
received from an Input Service Distributor – Auto populated from details of GSTR-6
TDS credit
from specified persons – Auto populated from details of GSTR-7
TCS credit
from E-Commerce operators – Auto populated from details of GSTR-8
Input Tax
Credit remaining to be taken against an invoice, from which initially a partial
invoice was taken
Reverse
Charge tax liability
Amendment to
such reverse charge tax liability
Tax Paid
Input Tax
Credit Reversals – A dropdown containing reasons for such reversals shall be
made available
Amendments
to such Input Tax Credit Reversals
Update as on April 2018: GSTR-2 has
been kept on hold by GSTN.
GSTR-1 A
The form
shall be auto-populated after filing of GSTR-2 on the 15th of the next month, having
all the correct or changed information. The supplier shall have the choice to
accept or reject the changes made by the recipient. Following such acceptance,
the GSTR-1 shall be revised to such extent.
GSTR-3
This form is
auto prepared by 20th of the next month. It will have the details of all
outward as well as inward supplies of goods and services as furnished in GSTR-1
and GSTR-2. After considering both the details, GSTN will determine your input
tax credit availability or the amount of tax payable.
GSTR-9
This is the
annual return, which the taxpayer has to file by 31st December of the coming
financial year. It is nothing but the accumulation of all 12 monthly GSTR-3 of
the taxpayer. It would also include the amount of tax paid during the year, including
details of exports or imports.
For GST Registration & GST
Amendments
Phone No. +91 91122 55597
Email
: support@gstregistrationonline.org
For GST Compliance & GST
Surrender
Phone No. +91 91122 11467
Email
: returns@gstregistrationonline.org
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