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GST Return Filing

GST RETURN

Small businesses are the backbone of Indian economics.A large number of businesses in the country are unorganized and irregular in filing returns and paying taxes

GST,a comprehensive indirect tax system.Under GST,non-compliance will not only affect user’s cash outflow in paying fines,interest,and penalties but also affect the continuity user’s business and compliance rating.

There are various returns to be furnished under GST during return filing:

Form GSTR-1

User need to declare the details of all the outward supplies of goods and services effected during the month.GSTR-1 filed on or before the 10th of every month with details of all supplies effected during the previous

Form GSTR-2

After reconciling,and additional claim/correction needs to be incorporated and submitted in the Form GSTR-2 by 15th of every month.

Form GSTR-3

On 20th,based on the Form GSTR-1 and Form GSTR-2,an auto-populated return GSTR-3 will be available for submission along with to payment.

After the due date of filing the monthly return in Form GSTR-3,the inward supplies will be matched with the outward supplies furnished by suppliers,and then final acceptance of input tax credit will be communicated in Form GST MIS-1.There are following detail will be matching of invoices

  1. GSTIN of the supplier
  2. GSTIN of the recipient
  3. Invoice/debit note number
  4. Invoice/debit note date
  5. Taxable value and
  6. Tax amount

Form GSTR-4

On 18th of month of succession quarter,quarterly return for compounding taxable person.

Form GSTR-5

Return for Non-resident foreign taxable person by Non-Resident Taxable Person.

Form GSTR-6

On 13th of next month,Return for Input Service Distributor by Input-Service Distributor.

Form GSTR-8

On 10th of next month,Details of supplies effected through e-commerce operator and the amount of tax collected by E-commerce operator/Tax Collector.

Form GSTR-9

On 31st December of next financial year,Annual GST return filed by Registered Taxable Person