The return is document which is filed by the dealer with concern tax authorities. According to GST law a normal tax payer is supposed to file 3 returns quarterly and one return annually. Following returns are to filed under GST law:-
|RETURN FORM||DETAILS TO BE FURNISHED||DUE DATE|
|GSTR-1||Details of outward supplies of taxable goods||10th of next month|
|or services or both|
|GSTR-2||Details of inward supplies of taxable goods||15th of next month|
|or services or both|
|GSTR-3||Monthly return of the basis of finalization of||20th of next month|
|details of outward supplies and inward|
|supplies along with the payment of amount of tax|
|GSTR-4||Quaterly return for composition dealers||18th from end of the|
|GSTR-5||Return for non-resident foreign taxable||20th of next month|
|GSTR-6||Input service distributor return||13th of next month|
|GSTR-7||Return for authorities deducting tax at source||10th of next month|
|GSTR-8||Details of supplies effected through e-commerce||10th of next month|
|operator and the amount of tax collected as|
|required under sub-section (52)|
|GSTR-9||Annual return||31st December of the|
|next financial year|
|GSTR-9A||Annual return by composition dealers||31st December of the|
|next financial year|
Provision for first two months of transition:- Return filing process has been simplified FORM GST-3B, containing only summary details, has been provided for all class of tax payers for acclimatisation of the tax payers with the new GST tax regime. The details are as follows:-
GSTR-1:- July’17 return can be submitted up to 5th September instead of 10th August. August’2017 return can be submitted up to 20th September instead of 10th of September.
GSTR-2:- July’2017 return can be submitted up to 10th September instead of 15th August. August’17 return can be submitted up to 25th September instead of 15th September.
GSTR-3:- July’2017 return can be submitted up to 15th September instead of 20th August. August’17 return can be submitted up to up to 30th September instead of 20th September.
GSTR-3B:- July’2017 return can be submitted up to 20th August’2017. August’2017 return can be submitted up to 20th September’2017.
Note:- GSTR-3B is a new form introduced by government. It is to be filed only for two months i.e July’2017 and August’2017. After the GSTR-1 is filed, GSTR-2 and GSTR-3 will be auto – populated according to the information furnished in Form GSTR-1. GSTR-3B should be matched with Form GSTR-3. If there is any difference, it can be solved with payment of refund to the dealer or payment of tax by the dealer as the case ma be. No interest or penalty will be imposed on the difference. All the returns will be submitted in time according to the rules under GST for the month of September’2017 and onward.
According to the 22nd GST council meeting held on the 6th October,2017:-
- The quarterly return will be submitted by the small businessmen whose turnover is within Rs. 1.50 Crore. Tax also paid on quarterly basis. This cycle will be effective from Oct’2017 onward. However, the businessman under this category has to file monthly return for the the month of July, August and September.
- No GST is to be paid on advance receipt against supply of goods by the registered dealer who is having annual turnover up to Rs. 1.50 Crore.
- Due date of filing of GSTR-6 for the month of July, August and Septeber’2017 is extended to 15th November’2017 for Input Service Distributor.
According to the 23rd GST council meeting held on the 10th November’2017:-
- All registered dealers other than composition dealers, have to file GSTR-1 and GSTR-3B till March’2018.
- The dealer having annual turnover less than Rs.1.50 crore will file quarterly GSTR-1. The date of filing of quarterly return under this category is as under:-
- For Quarter July’2017 to September’2017, the filing due date is 31-12.2017.
- For Quarter October’2017 to December’2017, the filing due date is 15.20.2018.
- For Quarter January’2018 to March’2018 the filing due date is 30.04.2018.
- The dealer having annual turnover more than Rs.1.50 crore will file monthly GSTR-1. The date of filing of quarterly return under this category is as under:-
- GSTR-1 Returns for the month of July’2017, August’2017 and September’2017 will be filed up to 31.12.2017.
- GSTR-1 Return for the month of November’2017 will be filed up to 10.01.2018.
- GSTR-1 Return for the month of December’2017 will be filed up to 10.02.2018.
- GSTR-1 Return for the month of January’2018 will be filed up to 10.03.2018.
- GSTR-1 Return for the month of February’2018 will be filed up to 10.04.2018.GSTR-1
- GSTR-1 Return for the month of March’2018 will be filed up to 10.05.2018.
- Time period of filing of GSTR-2 and GSTR-3 returns will be for the for the period of July’2017 to March’2018 will be finalized by the committee.
- The date of filing of GSTR-6 return for Input Service Distributor is extended to 31.12.2017 from old due date 13.08.2017
- The due date of TRAN-1 return is being extended from 30.09.2017 to 31.12.2017
As per latest news, the GST Council has extended the the filing date of GSTR-1 return from 31.12.2017 to 10.01.2018 for the quarter from July’17 to Sept’17 for businessman having turnover up to Rs.1.50 crore. For these businessmen, the date of filing GSTR-1 return for the quarter from October’2017 to December’2017 is being extended from 10.01.2018 to 10.02.18.
For the person having turnover more than Rs. 1.50 crore, the filing date of monthly GSTR-1 return is being extended from 31.12.2017 to 10.01.2018 for the month of July’2017 to October’2017. They are supposed to file monthly GSTR-1 return for the month of November’2017 up to 10.01.2018. Monthly return for the month of December’2017 is to be filed up to 10.02.2018. After Januar’2018 onward these monthly returns are to be filed on 10th of the succeeding month.
According to the 25th meeting of GST Council, held on 18.01.18, the following recommendations were made:-
- The late fees for filing the GSTR-1 Form is reduced to Rs.50/= per day and Rs. 20/= per day for the person who will file nil return.
- The late fees for filing of GSTR-6 form shall be Rs. 50/= per day.
- The person who has taken voluntary registration under GST rules, can apply for cancellation of his registration even before the expiry of one year from the date of registration.
- The e-way bills for inter-state movement of goods are to be made from 01.02.18. The generation of e-way-bill for intra-state movement of goods, are to be decided by the states themselves but the date of starting of e-way-bill should not be later than 01.06.2018.
According to the 26th meeting of GST Council, held on 10.03.18, the following recommendations were made:-
- GSTR 3B return filing is extended up to June’2018. This was the temporary measure till the GSTR1, GSTR2 and GSTR3 are to be fully implemented.
- GSTR1 and GSTR2 returns have been suspended for the time being.
According to the 27th meeting of GST Council, held on 04.05.18, the following recommendations were made:-
- GSTR2 and GSTR3 returns will not be filed till further notification.
- GST Council also has decided to simplify the filing of return and to file only on return for each month.
- GSTR1 and GSTR3B will continue till the further decision.
According to the 28th meeting of GST Council, held on 21.07.18:-
- The person who is having turnover up to 5 crores, can file the GST Return on quarterly basis but tax is to be deposited on monthly basis including composite dealer.
- The benefit of this recommendation will go to 90% of tax payers.
- The council also has cleared two new return forms :- Sugam & Sahaj to simplify the details to be given by the taxpayers.
- All other dealers will file the return on monthly basis. There are two tables in return form:- one for outward supplies and one for availing input tax credit based on invoices uploaded by the suppliers. Invoices can be uploaded regularly by the seller and can be viewed by the purchaser regularly and locked by the purchaser for availing the input tax credit. Due to this practice the major part of the return is automatically filled on the basis of invoices uploaded by the buyer and seller. For the maximum number of dealer this system will be – Upload – Lock – Pay.
- For Nil returns i.e. there is no purchase or no sales, the facility shall be given to file the return just sending SMS.
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