GST Return Filing | Types of GST Returns
GST return is a form in which you have to fill the details of your business transactions and submit it to the government. In this, you have to give details of all sales and purchases as well as tax paid on sales (output tax) and purchases (input tax). If you have any outstanding tax liability, then it will also have to be deposited simultaneously
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Types of GST Returns
There are different rules for filing different types of returns for different categories of businessmen.
GSTR-1
In this return form, a business has to account for all outward supplies made. Apart from this, details of purchases made under reverse charge system and stock transfer between different states are also to be given. There are two types of GSTR-1 returns as per the category of businessmen. The dates for filling and submission of both are also different-
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Businessmen with QRMP scheme:
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Businesses who have registered themselves under the QRMP scheme of GST will have to file a return of business every quarter. It has to be filled and submitted by the 13th of the month immediately following every quarter.
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Businessmen with non-QRMP scheme:
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Businesses that have not registered themselves under the QRMP scheme of GST are required to file monthly business returns. The deposit has to be made by the 11th of the month in which the trade is done.
GSTR -2
currently suspended
GSTR-3
currently suspended
GSTR-3B
This is self-declaration. Which is mandatory to be filled every month. It contains information about all types of supplies, input tax credit, tax liability and tax to be paid. It has to be filled by all taxpayers registered under GST.
GSTR-4
Which specifically contains details related to quarterly return filing for composite tax liabilities of composition taxpayers.
GSTR-5
It contains the details of GST return filing for Non-Resident Foreign Individuals.
GSTR-6
Acts as a form for Input Service Distributors for filing returns.
GSTR- 7
The form facilitates return filing for TDS introducing authorities.( Authorized TDS deductor as per section 51 of CGST Act).
GSTR- 8
E-commerce companies (like Amazon, Flipkart, Myntra, Snapdeal etc.) have to file monthly turnover and TCS (Tax Collected at Source) calculations through this return (GSTR-8). It is mandatory to fill and submit it after every month by the 10th of the next month.
GSTR- 9
GSR-9 return form is filed by normal taxpayers with details of all income and expenditure for the year. In this, you have to give rough details of purchase and sale and tax payment etc. for the whole year. The last date for filing GSTR-9 is 31st December every year, following the financial year.