INDEX

  • What is GST Return?

  • Who Should File GST Returns?

  • GST Returns along with Due Date

  • Key GST Return Filing Notes:

GST RETURN

What is a GST Return?

A GST return is a document that a GST-registered business or taxpayer must file with the government. It contains details of income/sales, purchases/expenses, output GST (tax collected on sales), and input tax credit (tax paid on purchases). This information is used by the tax authorities to calculate a business’s net tax liability, i.e., how much tax needs to be paid or refunded.

GST Portal (for detailed information on GST registration, GST applicability, and forms).

Link: https://www.gst.gov.in/

Who Should File GST Returns?

Any business or entity that is registered under the Goods and Services Tax (GST) Act is required to file GST returns. This includes:

1. Regular GST-registered businesses – These are businesses with an annual turnover above the GST exemption threshold.

2. Composition scheme taxpayers – Small businesses that opt for a simplified tax scheme (subject to certain turnover limits).

3. E-commerce operators and aggregators – These entities must file specific returns related to their business activities under GST.

4. Non-resident taxable persons (NRTPs) – Foreign entities supplying goods/services in India are required to file returns.

5. Input service Distributor– GST Input Service Distributor (ISD) enables centralized distribution of input tax credits to branches.

(For more detailed Info. on Gst for different business assessee)

Special Categories of States and UTs:
    • Category X States/UTs:
        • States: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh.
        • UTs: Daman and Diu, Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep.
        • Due Dates for GSTR-3B (QRMP Scheme): 22nd of the month following the quarter.
    • Category Y States/UTs:
        • States: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha.
        • UTs: Jammu and Kashmir, Ladakh, Chandigarh, New Delhi.
        • Due Dates for GSTR-3B (QRMP Scheme): 24th of the month following the quarter. 

Note: All due dates are subject to changes or extensions by CBIC notifications/orders. Make sure to verify them periodically to ensure compliance.

The Central Goods and Services Tax (CGST) Act or GST Act 2017

Link: https://www.cbic.gov.in/htdocs-cbec/gst/index

Division Of GST

GST in India is divided into three types: CGST, SGST, and IGST, each serving different purposes based on the nature of the transaction.

  1. CGST (Central Goods and Services Tax): Collected by the central government on intra-state transactions. The revenue is used to fund national-level programs and infrastructure.

  2. SGST (State Goods and Services Tax): Collected by state governments on intra-state transactions. It is used for state-specific initiatives, such as regional infrastructure, public welfare, and education.

  3. IGST (Integrated Goods and Services Tax): Applied to inter-state transactions. The central government collects the tax, then distributes it between the central and state governments based on the origin and destination of goods or services.

Together, CGST, SGST, and IGST ensure a balanced distribution of tax revenue between the central and state governments, promoting smooth commerce and supporting both national and regional development.

ITC Utilization and Sequence for CGST, SGST & IGST

The ITC utilization sequence for different types of GST — CGST (Central GST), SGST (State GST), and IGST (Integrated GST) — is crucial for businesses. The sequence ensures that the ITC is first utilized against the relevant GST type (CGST/SGST/IGST) and then, if there is any balance, it can be used for other types.

ITC Utilization Order:

The sequence for utilizing the ITC is as follows:

  1. Set off CGST liability using available CGST credit:
    • ITC on CGST should first be used to pay CGST on output supplies.
  2. Set off SGST liability using available SGST credit:
    • ITC on SGST should first be used to pay SGST on output supplies.
  3. Set off IGST liability using available IGST credit:
    • ITC on IGST should first be used to pay IGST on output supplies.
  4. Cross-utilization between CGST, SGST, and IGST:
  • CGST credit can only be used for CGST and IGST liabilities.
  • SGST credit can only be used for SGST and IGST liabilities.
  • IGST credit is more versatile and can be used to pay IGST, CGST, and SGST liabilities, in that order.
  • Cross-utilization of CGST and SGST credits is not allowed. You cannot use CGST for SGST liabilities or vice versa.Important Note: ITC cannot be utilized across SGST and CGST (i.e., SGST credit cannot be used for CGST tax liability and vice versa).

GST RETURNS ALONG WITH DUE DATE

Here is a comprehensive list of GST returns along with the frequency and due dates for each, as prescribed under the GST law:

  1. GSTR-1: Outward Supply Details
    • Description: Details of outward supplies of taxable goods and/or services made by the taxpayer.
    • Frequency:
      • Monthly: 11th of the next month.
      • Quarterly (for taxpayers opting for the QRMP scheme): 13th of the month following the quarter.
  1. IFF (Invoice Furnishing Facility): B2B Supply Details (QRMP Scheme)
    • Description: Details of Business-to-Business (B2B) supplies of taxable goods and/or services.
    • Frequency: Monthly (for the first two months of the quarter).
    • Due Date: 13th of the next month.
  1. GSTR-3B: Summary Return
    • Description: A summary return for outward supplies, input tax credit claimed, and tax payment.
    • Frequency:
      • Monthly: 20th of the next month.
      • Quarterly (for taxpayers under the QRMP scheme):
        • Category X states/UTs: 22nd of the month following the quarter.
        • Category Y states/UTs: 24th of the month following the quarter.
  1. CMP-08: Composition Scheme Tax Payment
    • Description: Statement-cum-challan to make tax payments for taxpayers under the composition scheme (Section 10 of CGST Act).
    • Frequency: Quarterly
    • Due Date: 18th of the month following the quarter.
  1. GSTR-4: Composition Scheme Return
    • Description: Return for taxpayers registered under the composition scheme.
    • Frequency: Annually
    • Due Date:
      • For FY 2023-24 and earlier: 30th of the month following the financial year.
      • For FY 2024-25 and onwards: 30th of June following the financial year.
  1. GSTR-5: Non-Resident Taxable Persons
    • Description: Return to be filed by non-resident taxable persons.
    • Frequency: Monthly
    • Due Date: 20th of the next month. (Note: Amended to 13th by Budget 2022; pending CBIC notification)
  1. GSTR-5A: Non-Resident OIDAR Service Providers
    • Description: Return to be filed by non-resident Online Information and Database Access or Retrieval (OIDAR) service providers.
    • Frequency: Monthly
    • Due Date: 20th of the next month.
  1. GSTR-6: Input Service Distributor (ISD)
    • Description: Return for an input service distributor to distribute eligible input tax credit to its branches.
    • Frequency: Monthly
    • Due Date: 13th of the next month.
  1. GSTR-7: TDS (Tax Deducted at Source)
    • Description: Return to be filed by registered persons deducting tax at source.
    • Frequency: Monthly
    • Due Date: 10th of the next month.
  1. GSTR-8: TCS (Tax Collected at Source) by E-commerce Operators
    • Description: Return to be filed by e-commerce operators containing details of supplies effected and tax collected at source.
    • Frequency: Monthly
    • Due Date: 10th of the next month.
  1. GSTR-9: Annual Return for Regular Taxpayers
    • Description: Annual return by regular taxpayers.
    • Frequency: Annually
    • Due Date: 31st December of the next financial year.
  1. GSTR-9C: Reconciliation Statement
    • Description: Self-certified reconciliation statement for businesses with a turnover exceeding Rs. 5 crore.
    • Frequency: Annually
    • Due Date: 31st December of the next financial year.
  1. GSTR-10: Final Return for Cancellation of Registration
    • Description: Final return to be filed by a taxpayer whose GST registration has been cancelled or surrendered.
    • Frequency: Once, when the GST registration is cancelled.
    • Due Date: Within three months of the cancellation date or the date of the cancellation order, whichever is later.
  1. GSTR-11: Refund Claim by UN Organizations
    • Description: Details of inward supplies to be furnished by a person having a Unique Identification Number (UIN) and claiming a refund.
    • Frequency: Monthly
  • Due Date: 28th of the month following the month for which the statement is filed.

     15. ITC-04: Job Worker Details

  • Description: Statement to be filed by a principal or job-worker regarding the goods sent to or received from a job-worker.
  • Frequency:
    1. Annually (for businesses with an AATO up to Rs. 5 crore).
    2. Half-Yearly (for businesses with an AATO > Rs. 5 crore).
  • Due Dates:

      • For AATO up to Rs. 5 crore: 25th April of the following financial year.

      • For AATO exceeding Rs. 5 crore: 25th October (for the first half) and 25th April (for the second half).

Key GST Return Filing Notes:

1. Late Fees: Late filing of GST returns can attract a late fee along with interest on unpaid taxes.

2. Input Tax Credit: Ensure that all purchase details (input tax credit) are accurately reflected in the GST returns to avoid any discrepancies during assessments.

3. Penalties: Non-compliance with GST return filing can lead to penalties, suspension of GST registration, or even cancellation of the GST registration.

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