GST Return

GST Return contains details of the nature of business activities with business turnover and any deductions or exemptions availed. It also includes sales and purchases with an input tax credit. As per the Goods and Services Tax, 2017, every business registered to have GSTIN under the act has to file returns compulsorily.

The returns are filed electronically on the GST portal. The returns are filed for legal compliance and calculating the tax liability by claiming the input tax credit.

It is the basis of future policy making from the government's perspective. It is a source for collecting financial statistics of organizations, and an effective mode for gaining information from taxpayers.

GST Return Filing Online Process

Small taxpayers must file prescribed returns compulsorily and any non-compliance can result in the disallowance of the Input Tax Credit (ITC).

The GST council allows small businesses with less than Rs. 5 crores turnover to file quarterly returns i.e., only four GSTR-1 and GSTR-3B instead of every month from January 2021 onwards.

This step is taken towards reducing the compliance burden and cost of compliance on small taxpayers. The process of filing the return is described in the following steps:

Step 1 : Visit the Official GST Portal

The taxpayer must log in with a username and password on the online GST portal.

Step 2 : GST Return Login with GSTIN

A 15-digit identification number is granted with GST registration and state code with the PAN number of the applicant.

Step 3 : Upload Invoices

You need to upload the invoices on the GST portal. An invoice reference number is given according to each invoice. The invoices are uploaded for outward return, inward return and total monthly return must be filed online. All errors can be rectified.

Step 4 : Return Filing Period

File the outward supply returns in Form GSTR-1 with the information section at the GST portal (GSTIN) on or before the 10th of the following month.

Step 5 : Outward Supplies

The outward supplies on the GST return portal furnished by the supplier will be received from the GSTR-2 form. The Supply details of the inward supplies of goods and services are in the Form GSTR filing.

Step 6 : Verification

The taxpayer must verify the details of the outward supplies made by him and file information of credit notes or debit notes. If there are any errors, you have the option to correct them and rectify your returns.

Step 7 : Accept or Reject

The supplier can accept or reject the details provided by the inward supplies made in the GSTR-1A. Submit the details by clicking on the ‘Submit’ option to file the return.

Types of GST Return with Due Date

The following are the monthly, quarterly and annual return are given:

• GSTR-1 for Outward supplies return should be filled monthly or quarterly by all the registered taxpayers except the exempted cases in the GST Act. The due date of this return is the 11th of the succeeding month.
• GSTR-2 for Inward supplies return should be filled monthly for records of purchases by the registered taxpayers as GSTR-2A. The due date of this return is the 15th of the subsequent month.
• GSTR-3 for Monthly returns including sales and purchases. This is an auto-mated return filed by GSTR-1 and GSTR-2 reports. The GST return date of this return is the 20th of every month.
• GSTR-4 for quarterly returns for taxpayers opted for composition schemes. It is filled in GST filing form 4A and the due date of this return is 30th April of every year.
• GSTR-5 for Non-resident foreign taxpayers with sales and purchases details. The due date of this return is the 20th of the succeeding month.
• GSTR-6 for Input Service Distributor showing ITC received and distributed. A nil return is also filled. The due date of this return is the 13th of the succeeding month. The late fee is Rs. 50 per day.
• GSTR-7 for TDS Deduction Authorities filled monthly under the GST act. The due date of this return is the 10th of the succeeding month.
• GSTR-8 is in the GST returns list for E-commerce operators who collect tax at source under GST Act. The due date of this monthly return is the 10th of the succeeding month.
• GSTR-9 for Annual return filed once a year about sales, purchases, input tax credit and other information. The due date of this yearly return is 31st December. The deadline can be extended by the notification. The late fee of filing is Rs. 100 per day
• GSTR-9A for composition taxpayers. The due date of this yearly return is 31st December.
• GSTR-9C for Annual GST Compliance and Transparency Statement . It is an annual reconciliation statement with turnover exceeding Rs. 2 crores certified by a professional. The due date of this yearly return is 31st December
• GSTR-10 for final return by cancellation or surrender cases. The due date of this return is within three months of the date of cancellation.
• GSTR-11 for Unique Identity number (UIN) holders. The due date of this return is the 28th of the succeeding month.

Steps to Check GST Return Status

There are three methods to check the return status. The following are three alternatives by which status can be viewed:

1. Track status with the ‘Return Filing Period’

Before tracking the return status, the taxpayer is required to access their GST account. The following steps are given:

• Visit the official GST portal
• For login into the GST portal, enter your username and password
• Select ‘Service’, and Click on ‘Returns and File Track Return Status’.
• Select the ‘Return Filing Period’
• Select the financial year regarding the filing of the return
• Click on the ‘Search’ option.

2. Track status with the ‘ARN’

• Visit the GST portal
• To Login in the portal, enter your username and password
• For GST Return; Select ‘Service’, Click on ‘Returns Filing Online’ and then track the return status.
• Type your ARN number in the given space.
• In the last step, click on ‘Search’ for tracking the return status

3. Track status with the ‘Status’

• Visit the GST portal
• Login using the username and password
• Click on the ‘Services’ tab, and click on ‘Returns and File Track Return Status’.
• Select the ‘Status of the Return’ button
• Click on the search to view the return status.

Consequences of Non-Filing

The delayed filing or non-filing of returns has penal provisions for late fees and penalties are GST returns under the Act.

The late fee for delayed returns in Form GSTR-9 i.e., the annual return for the financial year 2022-23 are:

• For a registered person having an aggregate turnover of up to Rs. 5 crore is Rs. 50 per day
• For a registered person having an aggregate turnover of more than Rs. 5 crores and up to Rs. 20 crores are Rs. 100 per day