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GST return filing is the process where a taxpayer registered under the Goods and Services Tax (GST) regime provides details of their income, expenses, and GST liabilities to the government. It’s a way for businesses to report their sales, purchases, and tax paid to the tax authorities.
Types of GST Registration
Under the Goods and Services Tax (GST) system in India, there are various types of GST filings required based on the nature of business and the turnover of the taxpayer. Some of the main types of GST filings include:
GSTR-1: This return captures outward supplies made by registered taxpayers. It contains details of sales made to other registered businesses (B2B) and consumers (B2C). It needs to be filed by the 10th of the following month by most taxpayers (monthly or quarterly, based on turnover).
GSTR-3B: A summary return summarizing the sales, purchases, and tax paid by the taxpayer. It’s filed monthly by most taxpayers by the 20th of the following month.
GSTR-4: This is filed by taxpayers opting for the Composition Scheme, which is a scheme for small businesses with reduced compliance requirements. It’s a quarterly return providing a summary of outward supplies.
GSTR-9: An annual return that consolidates the information furnished in monthly/quarterly returns (GSTR-1 and GSTR-3B) for the entire financial year. It needs to be filed by December 31st of the subsequent financial year.
GSTR-9C: This is a reconciliation statement and certification to be filed along with the annual return (GSTR-9) by taxpayers whose turnover exceeds a specified limit. It reconciles the taxpayer’s financial statements with the GST returns filed during the year.
Due dates for filing the GST returns
The due dates for filing various GST returns in India are typically categorized based on the type of return and the frequency of filing. Here are the general due dates:
GSTR-1: The due date for filing GSTR-1, which includes details of outward supplies, is generally the 10th of the following month. However, for businesses with a turnover up to a specified limit, it might be on a quarterly basis.
GSTR-3B: This summary return of sales, purchases, and tax paid is usually due by the 20th of the following month.
GSTR-4: For taxpayers opting for the Composition Scheme, the due date for filing GSTR-4 (quarterly return) is typically the 18th of the month succeeding the quarter.
GSTR-9: The annual return summarizing the entire year’s activities needs to be filed by December 31st of the subsequent financial year.
GSTR-9C: This reconciliation statement needs to be filed along with the annual return (GSTR-9) by December 31st of the subsequent financial year for taxpayers meeting the specified turnover criteria.