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Draft Report on Returns under GST

Draft Report on Returns under GST

  • Every registered dealer is required to file return for the prescribed tax period. A Return needs to be filed even if there is no business activity (i.e. Nil Return) during the said tax period of return;
  • Government entities / PSUs , etc. not dealing in GST supplies or persons exclusively dealing in exempted / Nil rated / non –GST goods or services would neither be required to obtain registration nor required to file returns under the GST law.
  • However, State tax authorities may assign Departmental ID to such government departments / PSUs / other persons and will ask the suppliers to quote this ID in the supply invoices for all inter-State purchases being made to them.

Salient Features of GST Returns

  • Filing of returns would only be through online mode. Facility of offline generation and preparation of returns will also be available. The returns prepared in the offline mode will have to be uploaded.
  • There will be a common e-return for CGST, SGST, IGST and Additional Tax.
  • A registered Tax Payer shall file GST Return at GST Common Portal either by himself or through his authorised representative;
  • There would be no revision of Returns. Changes to be done in subsequent Returns

Types of GST Returns

Eight different types of Returns are prescribed viz. GSTR 1 to GSTR 8; Types of taxpayers for every return and the periodicity of return for different categories of taxpayers is as follows..

S. No.Return / LedgerFor To be filed by 
1GSTR 1Outward supplies made by taxpayer (other than compounding taxpayer and ISD)10th of the next month
2GSTR 2Inward supplies received by a taxpayer (other than a compounding taxpayer and ISD) 15th of the next month 
3GSTR 3Monthly return (other than compounding taxpayer and ISD) 20th of the next month
4GSTR 4Quarterly return for compounding Taxpayer 18th of the month next to quarter
5GSTR 5Periodic return by Non-Resident Foreign Taxpayer  Last day of registration
6GSTR 6Return for Input Service Distributor (ISD)15th of the next month
7GSTR 7Return for Tax Deducted at Source 10th of the next month 
8GSTR 8Annual ReturnBy 31st December of next FY
9ITC Ledger of taxpayerContinuous
10Cash Ledger of taxpayerContinuous
11Tax ledger of taxpayerContinuous

Normal/ Regular Tax Payers

  • Normal / Regular taxpayers (including casual taxpayers) would have to file
    • GSTR-1 (details of outward supplies)
    • GSTR-2 (details of inward supplies) and
    • GSTR-3 (monthly Return) for each registration.
    • GSTR-8 (Annual return)
  • Normal / Regular taxpayers with multiple registrations (for business verticals) within a State would have to file GSTR-1, GSTR-2, GSTR-3 and GSTR-8 (Annual return) for each of the registrations separately.
  • A separate reconciliation statement, duly certified by a Chartered Accountant, will have to be filed by those taxpayers who are required to get their accounts audited under section 44AB of Income Tax Act 1961

Compounding Tax Payers

Compounding taxpayers would have to file a quarterly return called GSTR-4. Taxpayers otherwise eligible for the compounding scheme can opt against the compounding and file monthly returns and thereby make their supplies eligible for ITC in hands of the purchasers. Compounding taxpayer will also file a simple Annual return (GSTR-8)

Casual/ Non – Resident Taxpayers

  • Casual/ Non – Resident Taxpayers (other than foreigners) would have to file GSTR-1, GSTR-2 and GSTR-3 returns for the period for which they have obtained registration. The registration of Casual/Non –Resident taxpayers will be done in the same manner as that of Normal / Regular taxpayers.
  • Non- Resident Taxpayers (foreigners) would be required to file GSTR-5 return for the period for which they have obtained registration within a period of seven days after the date of expiry of registration. In case registration period is for more than one month, monthly return(s) would be filed and thereafter return for remaining period would be filed within a period of seven days as stated earlier. For these taxpayers the registration format to be used will be the same as that for UN Bodies/Embassies

Draft Report on Returns under GST

Gujarat VAT department has issued circular

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