What is GST Return Filing Overview

As per the GST law, every individual/Company/LLP registered under the GST Act has to furnish the details of sales, purchases and the tax paid by filing for GST returns with the administrative authorities. As a business person/ firm, one of your first priorities will be to do is GST return filing. Hence, knowing the ropes can help you make the process smoother and simpler. While filing a GST return, you are supposed to provide all the particulars related to your business activities, like the tax liability declarations, tax payments and also any other related information as per instructions provided by the government. The GST return filing process has to be done electronically in the GST portal. A facility has to be offered for the manual process of GST return filing tasks. This facility helps the business taxpayer in India to prepare the return offline and then upload it on GSTN through the facilitation center. There are also various components of GST returns filing that you need to know about. The GST return mainly includes output GST on the sales, input tax credits as per GST paid while making the purchases, and also includes the total sales. In order to file the GST return, the purchase invoices and GST compliant sales are needed.

GST Returns (GSTR) Overview

GSTR-1

• Who files: Regular taxpayers, including businesses with GST registration.
• What it covers: Details of outward supplies (sales) made by the business, including sales to other GST-registered businesses and consumers.
• Frequency: Monthly/Quarterly, depending on the turnover.

GSTR-2 (Currently suspended)

• Who files: Regular taxpayers.
• What it covers: Details of inward supplies (purchases) made by the business, including purchases from GST-registered suppliers.
• Frequency: Monthly.
• Note: GSTR-2 is not in effect currently due to suspension by the GST Council.

GSTR-3B

• Who files: All regular taxpayers.
• What it covers: Summary of outward supplies, inward supplies, and the GST payable/paid for the month. It includes both sales and purchase details and the calculation of the net GST liability.
• Frequency: Monthly.

GSTR-4

• Who files: Composition scheme taxpayers.
• What it covers: Details of quarterly sales, purchases, and tax liabilities for those opting for the composition scheme.
• Frequency: Quarterly.

GSTR-5

• Who files: Non-resident foreign taxpayers.
• What it covers: Details of outward and inward supplies, along with tax liabilities, for non-resident taxpayers.
• Frequency: Monthly.

GSTR-6

• Who files: Input Service Distributors (ISD).
• What it covers: Details of ITC (Input Tax Credit) received and distributed to different units of the business.
• Frequency: Monthly.

GSTR-7

• Who files: Taxpayers required to deduct TDS (Tax Deducted at Source).
• What it covers: Details of TDS deducted by the taxpayer.
• Frequency: Monthly.

GSTR-8

• Who files: E-commerce operators who are required to deduct TCS (Tax Collected at Source).
• What it covers: Details of the TCS collected by the e-commerce platform.
• Frequency: Monthly.

GSTR-9

• Who files: Regular taxpayers.
• What it covers: Annual return providing a summary of all transactions made during the year, including sales, purchases, input tax credits, and tax liabilities.
• Frequency: Annually.

GSTR-10

• Who files: Businesses that cancel their GST registration.
• What it covers: Final return for a business that is no longer registered under GST.
• Frequency: Once (on cancellation).

Login to GST Portal:

• Visit the official GST portal: www.gst.gov.in.
• Login using your GSTIN (Goods and Services Tax Identification Number) and password.

Select the Return Type:

• Choose the appropriate return form (e.g., GSTR-1, GSTR-3B, etc.) based on your business type.

Fill the Return Form:

• For GSTR-1, enter details of all sales, including both inter-state and intra-state sales, export sales, and taxable sales to consumers.
• For GSTR-3B, enter summary of outward supplies and input tax credits.
• Ensure the correct HSN (Harmonized System of Nomenclature) codes, GST rates, and values are filled in.

Review the Details:

• Double-check all details before submission. Ensure that the sales, purchases, and taxes are accurately reflected.

Pay the Tax:

• If there is a GST liability, pay the tax using the appropriate mode (online payment via the GST portal or through challan).

Submit the Return:

• After verifying all the details, submit the return. After successful submission, a confirmation message will appear, and you will receive an ARN (Acknowledgment Reference Number).

Download the Acknowledgment:

• After submission, download the acknowledgment receipt (GST R-1, R-3B, etc.) for your records.