Types of GST Returns

GSTR-1

• Details of outward supplies (sales)

GSTR-2A

• Details of inward supplies (purchases) auto-populated from GSTR-1

GSTR-3B

• Summary of outward and inward supplies, and tax payment

GSTR-4

• Quarterly return for composition taxpayers

GSTR-5

• Return for non-resident taxpayers

GSTR-6

• Return for input service distributors

GSTR-7

• Return for taxpayers deducting TDS

GSTR-8

• Return for e-commerce operators

GSTR-9

• Annual return for regular taxpayers

GSTR-9C

• Reconciliation statement and audit report

GST Return Filing Process

• 1. Login to GST Portal: Access the GST portal using your credentials
• 2. Navigate to Returns Dashboard: Click on "Returns" and select the relevant return
• 3. Fill Return Form: Enter required details, such as sales, purchases, and tax payments
• 4. Verify and Submit: Verify the information, and submit the return
• 5. Pay Tax: Pay any tax due, if applicable

GST Return Due Dates

• 1. GSTR-3B: 20th of the next month
• 2. GSTR-1: 11th of the next month (for quarterly filers)
• 3. GSTR-4: 18th of the month following the quarter
• 4. GSTR-5: 20th of the next month
• 5. GSTR-9: 31st December of the next financial year

Consequences of Late Filing

• 1. Late Fee: ₹50 per day (capped at ₹5,000)
• 2. Interest: 18% per annum on tax due
• 3. Penalty: Up to ₹25,000 or more, depending on the offense

GST Return Filing Tips

• 1. Maintain Accurate Records: Ensure accurate and up-to-date records
• 2. Verify Return Details: Double-check return details before submission
• 3. File Returns on Time: File returns before the due date to avoid penalties
• 4. Seek Professional Help: Consult a tax professional, if needed