Online GST Returns- An Overview

All GST registered businesses have to file monthly or quarterly GST returns and an annual GST return based on the type of business. Our team of experts is here to guide you through the GST return filing process and ensure that your business is compliant with GST tax laws.

 All GST registered businesses have to file monthly or quarterly GST returns and an annual GST return based on the type of business.

Different Online GST Returns and Key Filing Dates

There are several different types of GST returns that businesses may be required to file, including:

GSTR-1: This is a monthly or quarterly return that businesses are required to file. GSTR-1 reports the details of all outward supplies made by the business. Due date for monthly return 11th of the next month, and quarterly return 13th of the month succeeding the quarter.

GSTR-2: This is a monthly or quarterly return that businesses are required to file to report the details of all inward supplies received by the business.

GSTR-3B: This is a monthly return that businesses are required to file to report the summary of outward supplies, inward supplies, and the GST liability for the month. Due date for monthly return 20th of the next month, and quarterly return 22nd or 24th of the month succeeding the quarter. GSTR-3B late payments are Rs. 20 (Rs. 10 for CGST and Rs. 10 for SGST) per day for NIL returns and Rs. 50 (Rs. 25 for CGST and Rs. 25 for SGST) in all other scenarios.

CMP-08: This is the Statement-cum-challan to make a tax payment by a taxpayer registered under the composition scheme under Section 10 of the CGST Act. Due date for quarterly return 18th of the month succeeding the quarter.

GSTR-4: This is the annual return that was to be filed by the composition taxable persons under GST, by 30th April of the year following the relevant financial yea. Due date for GSTR-4 is 30th of the month succeeding a financial year.

GSTR-5: This is a return that non-resident taxable persons are required to file monthly. Due date for monthly return 20th of the next month.

GSTR-6: This is a return that Input Service Distributors are required to file every month. Due date for monthly return 13th of the next month.

GSTR-7: This is a return that TDS deductors are required to file on a monthly basis. Due date for monthly return 10th of the next month.

GSTR-8: This is a return that E-Commerce operator are required to file on a monthly basis. Due date for monthly return 10th of the next month.

GSTR-9: This is an annual return that all registered businesses are required to file. Due date for GSTR-9 is 31st December of the next financial year.

It is important to note that businesses must file their GST returns on time to avoid late fees and penalties. Late filing of GST returns may also result in the suspension of the GST registration.

In conclusion, GST returns are forms that businesses are required to file to report their GST liability to the Indian tax authorities. The frequency and type of GST returns that a business must file depends on the turnover of the business and the type of business activities. Businesses must file their GST returns on time to avoid late fees and penalties and maintain their GST registration.