GST Returns 2021 – Types of GST Return, Penalty, Late Fees

GST return is the detailed information containing the inward and outward supply of goods and services along with tax collected and paid. Some conditional returns also contain information about the tax deducted at source and tax collected at source.

GST return is the detailed information containing the inward and outward supply of goods and services along with tax collected and paid. Some conditional returns also contain information about the tax deducted at source and tax collected at source.

GST Returns

All registered individuals, traders, organizations, and companies registered have to furnish the details of their sales and purchases of the goods and services plus the tax paid and collected. Such details are submitted by filing GST Return. This return is a basis on which the tax authorities calculate tax liability. The registered GST user will have to file the return, which includes; purchases, sales, output GST, and input credit of GST. A registered user has to submit 4 forms to file their GST return, which are; return for purchases, return for sale/supplies, monthly return, and annual return. For those who have opted for the composition scheme, quarterly returns are to be submitted.

Types of GST Return

The following is the complete list of GSTR forms along with their purpose and due date.

GSTR 1

  • GSTR 1 is a return form that contains the detailed information of all the outward goods and services that are undertaken by the normal registered taxpayer as per the GST Law.
  • GSTR-1 contains details of invoices, debit notes, credit notes, and revised invoices for outward goods and services.
  • The return is filed monthly by the 10th of next month. However, it can also be extended by the Commissioner for any class of person beyond the 10th.

GSTR 2

  • In contrast to GSTR-1, GSTR-2 is the form which contains the detail information about the inward supply of goods and services.
  • It contains the details of purchases made by the taxpayer from both registered and unregistered taxable persons, along with the information about debit notes, credit notes.
  • The due date for filing GSTR 2 is 15th of the next month. However, the process of making any required changes and filing are usually done from 11th to 15th of the next month.

GSTR 2A

  • This is a read-only document that gets auto-populated as and when the seller files GSTR-1. Thus, GSTR 2a enables the buyer to verify the details submitted by the seller.
  • The buyer or the recipient also has the right to reject, accept, modify, or keep the pending invoices based on the details filled by the seller.
  • It is available to each registered normal taxpayer.
  • In case of any mismatch, the recipient can accept, reject, modify, or keep the pending invoices.

GSTR 3

  • Similar to GSTR 2A, GSTR-3 is also auto-populated.
  • It includes the information filed under the GSTR-1 and GSTR-2, along with any other liabilities related to preceding tax periods.
  • It is to be filed by the 20th of next month.

GSTR 3B

  • It is a summarized monthly return of outward and inward supplies.
  • It is filled separately by both purchasers and suppliers.
  • GSTR-3B is a self-declaration by the taxpayer of the GST tax liabilities for the concerned period.
  • Every normal registered taxpayer needs to file GSTR3B even if the tax liability is zero.
  • The due date for its submission is 20th of the next month.

GSTR 4

  • It is used to file quarterly returns for the taxpayers registered under the composition scheme.
  • Small taxpayers with turnover upto ₹ 1.50 Cr file quarterly returns through this form.
  • To reduce the tax and compliance burden for these small taxpayers, pay tax at a fixed rate, and file return quarterly.
  • The due date for it is 18th of the month succeeding the quarter for which return is to be filed.

GSTR 5

  • This form is for the non-resident taxable person.
  • The return includes details of inward and outward supplies, tax paid or payable, interest or fee paid, and any other amount to be paid as per the GST Act.
  • A non-resident taxpayer is a person who supplies goods or services occasionally. These persons do not usually have a fixed place of business or residence in India, and can also supply goods and services in any capacity.

GSTR 6

  • Each Input Service Distributor needs to file GSTR-6 each month.
  • It provides the details ofthe invoices which are issued by the ISD, and the credit has been received. It summarizes the total input tax credit available for distribution and is made available to each recipient in part B of GSTR2A.
  • The due date to file GSTR-6 is 13th of the next month for which the tax has to be paid.

GSTR 7

  • It is filled by those taxpayers who are required to deduct TDS as per the GST law.
  • GSTR-7 includes details like; liability towards TDS, tax deducted at source, interest, and fee paid or payable, and TDS refund (if any).
  • The due date to file GSTR-7 is 10th of the next month.

GSTR 8

  • It is to be filled by those e-commerce platforms which are required to deduct Tax Collected at Source as per GST law.
  • The form contains the details of goods and services supplied through e-commerce platforms and the tax amount collected from suppliers.
  • Under this form, operators can also make changes in the information filled about supplies in previous statements.
  • The due date for this return is the 10th of the next month for which tax is to be collected.

GSTR 9

  • As per section 44(1), each registered taxpayer needs to furnish an annual return for each financial year.
  • It includes details of the Input tax credit, casual taxable person, person who has to pay tax under section 51 or 52, and details of the non-resident taxable person.
  • In case the registered person has zero tax liability, a NIL Annual Return will be filled.
  • The due date for filing GSTR-9 is 31st December after the end of the concerned financial year.

GSTR 9A

  • It is the annual return for persons registered under the composition scheme.
  • The details of the form include tax paid, tax refunds, inward and outward supplies, late fee, and input tax credit availed or reversed.
  • The due date for filing GSTR-9A is 31st December succeeding at the end of each financial year.

GSTR 9B

  • It is the annual return for the e-commerce portals which are required to collect tax at source under section 52.
  • The due date for filing GSTR-9B is 31st December succeeding at the end of each financial year.

GSTR 9C

  • Each registered person with an annual turnover of Rs. 2 Cr and more needs to get their accounts audited by a CA or cost accountant. Besides, the user also needs to submit the audited copy accounts, annual return, and reconciliation statement.
  • The reconciliation statement is submitted in Form GSTR-9C.
  • The due date for filing GSTR-9C is 31st December succeeding at the end of each financial year.

GSTR 10

  • It is the final return to be filed by the user whose GST registration has got canceled.
  • However, such a person does not include; person paying tax under a composition scheme, a person who is collecting TDS or TCS, an input service distributor, and a non-resident taxable person.
  • The main intent for this return is to make sure that the taxpayer has paid off all outstanding tax liability. The liability is higher of;
    • output tax payable on finished goods, semi-finished goods, capital goods, or plant and machinery.
    • input tax related to such goods as mentioned above.
  • The due date of filing GSTR-10 is later of:
    • 3 months from the date of registration getting canceled, or
    • date of order of cancellation.

GSTR 11

  • This return is for those users who have been allotted a UIN (Unique Identification Number).
  • The UIN is issued to the registered person to claim tax refunds of GST paid on the purchase of goods and services.
  • The organizations who can get UIN are:
    • A consulate or embassy of foreign countries
    • Multilateral Financial Institutions and Organizations which are notified in the United Nations (Privileges and Immunities) Act, 1947.
    • Specialized agencies of the United Nations Organizations
    • any other class of user or person as may be specified by the Commissioner
  • The due date for filing GSTR-11 is 28th of the next month in which the UIN holders received inward supplies.

Penalty for Late Filing of Returns.

GST return filing is mandatory for all registered taxpayers, whether they are normal taxpayers of registered under composition scheme. Failing to file the return on time attracts penalty as per the GST law. A penalty of Rs. 100 per day is levied in case of delay of return for each Central Goods and Services Tax and State Goods and Services Tax. Thus, the effective late fee is Rs. 200 per day. However, the maximum late fee is limited to Rs. 5,000. In the case of IGST, there is no late fee.

In addition to late fee interest at the rate of 18% per annum is also to be paid on the amount of tax for 5.

Late Fees for not Filing Return on Time

  • If GST Returns are not filed within time, you will be liable to pay interest and a late fee.
  • Interest is 18% per annum. It has to be calculated by the taxpayer on the amount of outstanding tax to be paid. The time period will be from the next day of filing to the date of payment.
  • Late fees is Rs. 100 per day per Act.
  • So it is 100 under CGST & 100 under SGST. Total will be Rs. 200/day. Maximum is Rs. 5,000. There is no late fee on IGST. However, currently, a reduced late fees of Rs 50 per day of delay(Rs 20 for NIL return) is applicable for those who file GSTR-1 and GSTR-3B.
  • There are prescribed formats for each of the above of the returns. The forms may seem complex and difficult to understand.

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