Each and every registered taxable individual shall receive, in specified manner and nature, an electronic return of inward and outward suppliers of products and/or services, Input tax credit accessible, Tax payable, Tax payment and other information as may be specified within 20 days after the end of that month.

A return furnished by the registered taxable person without payment of full tax due as per the return shall not be treated as a valid return for allowing input tax credit in respect of supplies made by such person

Dual GST Structure – CGST, SGST & IGST

India is a federal country where both the Centre and the States have been assigned the powers to levy and collect taxes through appropriate legislation. All forms of government have different duties to carry out in compliance with the separation of powers set down in the Constitution under which they need to collect money. The dual GST would also be compatible with the constitutional norm of fiscal federalism.

Center will collect and administer CGST & IGST while SGST GST Return will be collected and administered by the respective states.

GST Return : Type of Return, Due Date, and Forms

This will be a dual GST with the Central and the States receiving taxes on a single tax base at the same time. The GST to be imposed by the Center for Intra-State Provision of Products and/or Services would be named the Central GST (CGST) which would be named the State GST (SGST) to be imposed by the Governments. Integrated GST (IGST) should also be obtained and distributed by the Centre.

GST Online Return Filing Forms in India:

The government has introduced GST Return Forms in India for GST return filing. The Govt has introduced 8 GST return forms named as GSTR-1 to GSTR-8.

Form GSTR-1 (Sales Register):

Form GSTR-1 is for Sales Register. Here the taxpayer entity can enter the detailed date of Sale of Goods or services. It is important to classify the goods or services with his SAC or HSN code. The SAC or HSN code will identify the nature of transaction.

In Form GSTR-1, details of transactions worths Rs. 2,50,000 or more are to be mentioned with details. These details are asked to prevent the black money transactions.

Download-form-GSTR-1

Form GSTR-2 (Purchase Register):

Form GSTR-2 is a comprehensive Purchase Register. here the taxpayer entity has to record the details of purchase of Goods or Services.

Download-form-GSTR-2

Form GSTR-3 (Monthly Return Form):

When you have entered all required data in Form GSTR-1 and GSTR-2, your time consuming part is over. Because in Form GSTR-3 you will rarely need to fill other information. As It picks up data from Form GSTR-1 and GSTR-2.

•  You will have to enter Only adjustment entries and challan information.
•  Here cash ledger (tax deposit in cash and TDS/ TCS) will made separately for CGST , SGST and IGST.

Download-Form-GSTR-3

Form GSTR-4 (Quarterly Return for Compounding Dealers):

•  This Form is for Quarterly return filled by the compounding dealer. According to the legislation for a GST rule, the assessor whose turnover is less than Rs. 50 lakes and there's no international sale is liable to submit a report on just before the 18th of the month following the section.
•  In this Form, data will be automatically populated after filing of GSTR-1.

Download-Form-GSTR-4

Form GSTR-5 (Return Form for Non-Residents):

•  Form GSTR-5 is a monthly return form filed by the non –resident within 18th day after end of the month and within the 7 days after expiry of registration.
•  In this return HSN/SAC code should be mention because these are classify the transaction as a sales and purchase of goods and services.

Download-Form-GSTR-5

Download-Form-GSTR-6

•  Form GSTR-6 will be filed by the Input Service Distributors within 15 days after end of the month.
•  The Input Service Distribution Ledger will be preserved in this return type. In this Ledger Credit of CGST, SGST, IGST shall hold each tax number apart.

Download-Form-GSTR-6

Form GSTR-7 (TDS Return):

•  The tax deductor is liable to submit this TDS report within 10 days from the end of the month
•  The return form is somewhat identical to the TDS income tax return (26Q/24Q etc.) because the details on the deductee's return and the cost detail is shown in the corresponding voucher under which the TDS payment is charged to the government

Download-Form-GSTR-7

Form GSTR-8 (Annual Return):

•  Form GSTR-8 is to be filed on or before 31st December of the next financial year. Form GSTR-8 is for Annual return.
•  In Form GSTR-8, the total annual returns information will be provided and the same will be matched by the department with the monthly /quarterly return filled by the assesse.
•  In Form GSTR-8, information about the Auditors will also be sumitted.
•  With this exchange, all transactions must be created inside products and services. This differentiation should be compatible with the HSN / SAC code provided by the assessee in its monthly / quarterly return.

Download-Form-GSTR-8

Return Filing Requirements for Regular Taxpayers – 3 Monthly Return and 1 Annual Return

Every registered taxable person has to furnish outward supply details in Form GSTR-1 (GST Returns-1) by the 10th of the subsequent month. On the 11th, the visibility of inward supplies is made available to the recipient in the auto-populated GSTR-2A. The period from 11th to 15th will allow for any corrections (additions, modifications and deletion) in Form GSTR-2A and submission in Form GSTR-2 by 15th of the subsequent month. The corrections (addition, modification and deletion) by the recipient in Form GSTR-2 will be made available to supplier in Form GSTR-1A. The supplier has to accept or reject the adjustments made by the recipient. The Form GSTR-1 will be amended according to the extent of correction accepted by supplier.

The special feature of GST is that the final input credit is available only if the inward details filed by the recipient are matched with the outward details furnished by the supplier in his valid return.

For this purpose, the auto-populated details of outward supplies and inward supplies will be made available in the following manner:

GSTR 1A (Outward Supplies – effects of changes made by recipient) : Details of outward supplies as added, corrected or deleted by the recipient in Form GSTR-2 will be made available to supplier ( by 20th of the next month after filing GSTR-1)

GSTR-2A: (Inward Supplies – information furnished by suppliers) The details of inward supplies will be auto-populated on the basis of the details furnished by the counterparty supplier in his GSTR-1. (by 11th of the next month before filing GSTR-2)

On 20th, the auto-populated return GSTR-3 will be available for submission along with the payment. After the due date of filing the monthly return Form GSTR-3, the inward supplies will be matched with the outward supplies furnished by supplier, and then the final acceptance of input tax credit will be communicated in Form GST ITC-1.

Also, the mismatch input tax credit on account of excess claims or duplication claims will be communicated in Form GST ITC-1. Discrepancies not ratified will be added as output tax liability along with interest. However, within the prescribed time, if it is ratified, the recipient will be eligible to reduce this output tax liability.