GST Returns

Posted by Ananya Nair on December 31st, 2019

How to File GST Returns Online in India - Who Should File and Types of GST Returns

Any person who applies for GST registration also required to make a GST return filing. GST return is basically a document that contains particulars of earnings that a taxpayer needs to file with the tax administrative specialists. Tax experts use it for calculating tax accountability.

In a GST return the taxpayer should provide the below details:

· Sales
· Purchases
· Output GST (On sales)
· Input tax credit (GST paid on purchases)

Who should file GST Returns?

It is mandatory to file GST Returns for every business owners whose annual business turnover exceeds 20–40 Lakh. Taxpayers also are supposed to go through numerous eligibility standards for specific slabs.

What are the Types of GST Returns?

GSTR — 1: Return for Outward Supplies of taxable goods and services as affected.

GSTR — 2: Return for Inward Supplies of taxable goods and services claiming the input tax credit.

GSTR — 2A: Read the Only Document.

GSTR — 3B: Monthly summary return of Inward and Outward Supplies.

GSTR-4 / CMP-08: GST Quarterly Return for Composition Dealers.

GSTR — 5: Return For Non-Resident Taxable Persons before the 20th and within 7 days from the last day of registration.

GSTR — 6: Return For Input Service Distributors on or before the 13th of every month.

GSTR — 7: Return for Taxpayers Deducting (TDS).

GSTR — 8: Return For E-Commerce Operators Collecting TCS (Tax deducted at source).

GSTR — 9: Return or Annual GST Return for Normal Registered Taxpayer under GST.

GSTR — 9A: Annual Return for the Composition Scheme.

GSTR — 9C: Turnover above Rs.2 cores (Regular Taxpayers) in a financial year.

GSTR — 10: Return For Registered Person Whose GST Registration Gets Cancelled or surrendered.

GSTR — 11: GST Return for Unique Identity Number (UIN) Holders.

How to File GST Returns Online?

Following are the step by step guidelines for filing GST return online:

Step 1: Go to the GST portal

Step 2: Obtain a 15-digit GST identification number (GSTIN) that will be issued based on your state code and PAN Number.

Step 3: Upload invoices on the software or the GST portal. An invoice reference number will be issued against each invoice.

Step 4: After uploading invoices, inward, outward return and cumulative monthly return have to be filed online. If there are any errors and file returns, you have the option to correct it and refile the returns.

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Original Source: What is GST Returns?