Types of GST Returns, Due Dates, Who Should file, Late Fee

Types of GST Returns, Due Dates, Who Should file, Late Fee

Posted by CA Pankaj Kumar Vats
On 30 Nov 2022

Here in this article, we are explaining the below points 
What is GST Return?
Who Should File?
Due Dates?
Types of GST Returns?
Late Fee? 

GST return is a declaration cum document, that contain all the details of Sales, Income, Purchases, Expenses, Tax collected on Sales and Income (i.e. Output Tax), and tax paid on Purchases and  Expenses(i.e. Input Tax).

Types of GST returns:-

Regular Business

GSTR1

  • Who Needs to File:- Regular Businesses, every Registered Taxable Person, Input Services Distributor, Composition Taxpayer, Person Liable to deduct tax.
  • Due Date:- GSTR1 is the 11th of subsequent months in case covered monthly filing system. However it is 13th if covered by QRMP. In this case this return is called as IFF
  • Late Filing Fee:- is per day Rs 50
  • Interest on delayed payments if any:- na
  • Importance of  GSTR1:-This GSTR 1 is the Key basis of entire GST System. It is the Only Return, on the basis of which, the buyer of products or services can aval ITC. This Return contains the details at transaction level to ensure that correct ITC is passed on and nothing is hidden or manipulated.

GSTR3B

  • Who need to file:-All Normal Registered Tax Payers need to file it to discharge their tax liability.
  • Due Date:-of GSTR3B is 20th of subsequent month in case covered by Monthly filing system. The due date is 20/22/24th of subsequent Quarter, in case opted for QRMP. However the Tax has to be paid every month on or before 25th in Case of QRMP.
  • Late Fee:- is per day Rs 50
  • Interest On Delayed Payment If Any:-18%
  • Importance of GSTR 3B:- This return is really crucial for tax payments. The tax liability is discharged via this return.  It contains the summary details of total outward supplies, output tax liability and Input tax credit.

GSTR9

  • Who Need To File :- GSTR-9 is to be filed by a person who is registered as a normal taxpayer. For FY 2021-22, it is mandatory if the turnover exceeds, Rs. 2 crore and it is optional if the turnover is below Rs. 2 crore.
  • Due Date:- GSTR9 must be filed on or before the 31st December of the following year.
  • Late Fees :-is  the taxpayer has to pay Rs 200 per day  as a penalty.
  • Total penalty cannot exceed 0.25% of the turnover on which the said penalty is being  levied.
  • Interest On Delayed Payments If Any:-18%
  • Importance Of GSTR9:-GSTR9 is annual GST return which includes details of inward and outward supplies, ITC details, tax paid. This return help in declaring the adjustments made during the year.

GSTR9C

  • Who Need To File:-Every registered Tax payer needs to file this return if its turnover is more than Rs. 5 crore
  • Due Date:- GSTR9C must be filed on or before the 31 December of the following year.
  • Late Filing Fee:- Any delay in filing GSTR9C the taxpayers liable to pay 200 per day as penalty.
  • Interest On Delayed Payments If Any:-18%
  • Importance’s Of GSTR9C:-It is the reconciliation of GST on annual basis, which helps in determining the variation if any.

Businesses Registered Under The Composition Scheme

  • Business turnover needs to be below Rs 1.5 crore to opt  for this composition scheme . In case of Himachal Pradesh or the North-Eastern States, it is Rs 75 lakh

GSTR4

  • Who Need To File:-A Composition Taxpayer
  • Due Date:-On 31st May of the subsequent Year.
  • Late Filing Fees:-Rs. 200 per day
  • Interest On Delayed Payments If Any:-18%
  • Importance Of GSTR4:- To declare the details of purchase made during the year.

Other Types Of Business Owners And Dealers

GSTR5

  • Who Need To Files:-It is return for Non-Resident Foreign Taxpayer
  • Due Date:- Is 20th of subsequent of month
  • Late Filing Fee:-Late fee is Rs.50 per day
  • Interest On Delayed Payments If Any:-18%
  • Importance Of GSTR-5:- It contains the details of the taxpayer invoice details of all goods and services sold and purchases

GSTR-6

  • Who Need To Files:-The organizations that are Input Service Distributors (ISD) these businesses provide services and goods or both.
  • Due Date :-of 13th of subsequent of month
  • Late Filing Fee:-Late fee is Rs 50 per day
  • Interest On Delayed Payments If Any:-18%
  • Importance Of GSTR-6:- Contains details of all the documents issued for distribution of Input Tax Credit and the manner of distribution of credit and tax invoice on which credit is received.

GSTR7

  • Who Need To File:-As per section 51 of the CGST act, following persons/ entities/establishments are required to deduct TDS. A Local Authority Government Departments Government Agencies
  • Due Date:- For filing form GSTR 7, the due date is 10th of succeeding month.
  • Late Fees :- Rs 50 per day
  • Interest On Delayed Payments If Any:-18%
  • Importance Of GSTR7:- GSTR-7 shows the details of TDS deducted, amount of TDS paid and payable, and any refund of TDS claimed
  • Form gstr7 is a return which is required to be filed by the persons who deduct tax at the time of making /crediting payment to suppliers towards the inward received

GSTR8

  • Who Need To File:-E-Commerce Operators / Aggregators such as Amazon, Flipkart etc.
  • Due Date:- 10th for subsequent of the month.
  • Late Filing Fee:-late fee is 200 per day
  • Interest On Delayed Payments If Any:-18%
  • Importance Of GSTR8:- GSTR-8 lists the details of all the supplies affected through e-commerce platform. It also depicts the information related to TCS collected on such supplies.

GSTR9B

  • Who Need To File:- E-Commerce Operators / Aggregators such as Amazon, Flipkart etc.
  • Due Date:-GSTR 9B must be filed by the 31 December following the end of a financial year.
  • Late Filing Fee:-Late fee of INR 100 per day will be charged for each day.
  • Interest On Delayed Payments If Any:-18%.
  • Importance Of GSTR9B:-it contain the details of outward supplies of goods and services , return if any and the amount collected during the financial year.

GSTR10

  • Who Need To File:-Final GSTR before cancelling GST registration
  • Due Date:-Filed within three months
  • Late Filing Fee:-Late fees is Rs 200 per day .
  • Interest On Delayed Payments If Any:-18%
  • Importance Of GSTR10:-It will contain the details of all supplier, liabilities tax collected tax payables etc.

GSTR11

  • Who Need To File :-it contains the details of purchase made by foreign embassies and diplomatic missions for self consumption during a particular months.
  • Due Date:-due date 28th subsequent of the month.
  • Late Filing Fee:- . the late fees is Rs. 200 per day
  • Interest On Delayed Payments If Any:-interest will be charged at 18% per annum and it is calculated by the tax payer on the outstanding tax amount
  • Importance Of GSTR11:- every person who has been issued a Unique Identity Number (UIN) must furnish the details of inward supplies to obtain refunds under GST.

GSTR3A

  • Who Need To File :-tax notice issued by the tax authority to a defaulter who has failed to file monthly GST returns on time
  • Due Date:-the defaulter has to file the return within 15 days from the date of notice along with penalty and late fees.
  • Late Filing Fee:-late fee Rs. 200 per day
  • Interest On Delayed Payments If Any:-interest at 18% per annum has to be paid by the dealer.
  • Importance Of GSTR-3A:- If the return is filed after 15 days but before the proper officer passes an assessment order then the notice will be assumed to be withdrawn. 
  • GSTR-3a is not a return, it is kind of form
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