A guide on returns to be filed under GST

Under GST tax payers are required to file Monthly, quarterly as well as annual returns. Chapter IX of CGST Act, 2017 contains the provisions related to returns to be filed by tax payers.

As per this chapter tax payers are supposed to file the following returns/information with department, each requirement is explained in detail, you can either read the full guide or skip to a particular section:

Monthly uploading of outward supplies (uploading of Sales invoices) by tax payers

As per section 37 of CGST Act, 2017 every tax payer needs to update his monthly details of outward supplies on or before 10th of month succeeding the said tax period.

For example, due date of filing the details of sales invoices will be 10th August for the month of July.

This requirement is mandatory for all tax payers except the following class of tax payers:

  1. Input Service Distributor,
  2. a non-resident taxable person and
  3. a person paying tax under the provisions of section 10 or section 51 or section 52

It should be further noted that you cannot upload details of outward supplies/sale between 11th and 15th.

Buyers of taxable supplies should accept or reject the details uploaded before 17th but not before 15th of day, of the month succeeding the tax period and the details furnished by him under sub-section (1) shall stand amended accordingly.

If there is any mis-match in sales uploaded, tax payer should compute and pay the shortfall in taxes due to such mismatch. If there is any error or omission, tax payer should correct them before due date of filing the return under section 39.

Any mismatch in details furnished should be corrected on or before 20th or date of return filing whichever is earlier.

Furnishing details of inward supplies (uploading of monthly purchase invoices/details)

Every tax payer has to furnish the details of his purchases/inward supplies. Section 38 of CGST ACT, provides that every tax payer except the following, should furnish the details of inward supplies. For inward supplies/purchase you have to first match the details uploaded by seller/supplier with your own details, and delete, modify or include information not matching with the details uploaded.

Following class of tax payers are not required to provide details of inward supplies:

  1. Input Service Distributor,
  2. a non-resident taxable person and
  3. a person paying tax under the provisions of section 10 or section 51 or section 52

Every registered person, has to  verify, validate, modify or delete, if required, the details relating to outward supplies and credit or debit notes communicated under sub-section (1) of section 37 to prepare the details of his inward supplies and credit or debit notes and may include therein, the details of inward supplies and credit or debit notes received by him in respect of such supplies that have not been declared by the supplier under sub-section (1) of section 37.

Every registered person, other than above listed, shall furnish, electronically, the details of inward supplies of taxable goods or services or both, including inward supplies of goods or services or both on which the tax is payable on reverse charge basis under this Act and inward supplies of goods or services or both taxable under the Integrated Goods and Services Tax Act or on which integrated goods and services tax is payable under section 3 of the Customs Tariff Act, 1975, and credit or debit notes received in respect of such supplies during a tax period after the tenth day but on or before the fifteenth day of the month succeeding the tax period in such form and manner as may be prescribed.

The details of supplies modified, deleted or included by the recipient and furnished under sub-section (2) shall be communicated to the supplier concerned in such manner and within such time as may be prescribed.

 The details of supplies modified, deleted or included by the recipient in the return furnished under sub-section (2) or sub-section (4) of section 39 shall be communicated to the supplier concerned in such manner and within such time as may be prescribed.

Any registered person, who has furnished the details under sub-section (2) for any tax period and which have remained unmatched under section 42 or section 43, shall, upon discovery of any error or omission therein, rectify such error or omission in the tax period during which such error or omission is noticed in such manner as may be prescribed, and shall pay the tax and interest, if any, in case there is a short payment of tax on account of such
error or omission, in the return to be furnished for such tax period, Provided that no rectification of error or omission in respect of the details furnished
under sub-section (2) shall be allowed after furnishing of the return under section 39 for the month of September following the end of the financial year to which such details pertain, or furnishing of the relevant annual return, whichever is earlier.

Monthly and quarterly returns under GST

Every registered person has to file monthly GST returns, however for tax payers who chose composition levy scheme need to file quarterly returns. As per section 39 every person except the following listed need to file monthly GST returns.

  1. an Input Service Distributor or a
  2. non-resident taxable person
  3. or a person paying tax under the provisions of section 10 or section 51 or section 52

The monthly returns should be filed on or before of 20th of the month succeeding such calendar month or part thereof.

Monthly return is to filed electronically, containing inward and outward supplies of goods or services or both, input tax credit availed, tax payable, tax paid and such other particulars as may be prescribed.

Due date for quarterly return is 18th of each month.

Tax payers which are required to deduct tax on source ( section 51 ), needs to file their returns on or before 10th of each month.

Due date of input service distributors is 13th of each month.

Non-resident registered person should file their returns on or before 20th or within 7 days after the last day of the period of registration.

Due date to pay tax is same is date of filing returns.

Filing return is compulsory whether any supply made or received.

Returns or information provided cannot be revised after due date of September or date of filing annual returns, whichever is earlier.

You cannot file a return unless return of previous period is filed. For example, you cannot file return of October month unless you filed all returns up to September.

Filing your first return after registration

Section 40, clear specify that while filing your first return after registration details of outward supplies in the period between the date on which he became liable to registration till the date on which registration has been granted shall declare the same in the first return furnished by him after grant of
registration.

Annual return under GST

Every registered person other than Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person, shall furnish an annual return for every financial year electronically in such form and manner as may be prescribed on or before the thirty-first day of December following the end of such financial year.

Every registered person who is required to get his accounts audited in accordance with the provisions of sub-section (5) of section 35 shall furnish, electronically, the annual return under sub-section (1) along with a copy of the audited annual accounts and a reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year with the audited annual financial statement, and such other particulars
as may be prescribed.

Due date for filing annual return is 31st December for each financial year. Due date to file audit report along with annual return is also 31st December.

Final return under GST post deregistration

If you are registered under GST and filing your return, you need to file a final return after cancellation of registration. Final return should be filed within 3 months of cancellation of registration.

List of due dates of various return and information to be provided under GST

I understand there are lot information and returns are required to be filed under GST. Below is summary of returns to be filed along with their respective due dates.

Due date of return to be filed under GST
Sl. No. Return under GST Due Date of filing
1. Filing of sales/outward supplies details On or before 10th of month succeeding the said tax period.
2. Filing inward supplies/purchase details After the 10th day but on or before the 15th day of the month succeeding the tax period.
3. Filing of monthly return On or before of 20th of the month succeeding such calendar month.
4. Filing of quarterly return On or before 18th of each month following the quarter.
5. Filing of Annual return On or before the 31st of December following the end of  financial year.
6. Audit report, if applicable Along with annual return
7. Final return (applicable in case of cancellation of registration) Within 3 months of cancellation of registration.

 

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Author
Posted by Pulkit Sharma under GST

A Chartered Accountant by qualification. I am founder of KnowyourGST.com to provide free resources to enable smooth compliance by Tax Payers. You can use GST Invoicing application developed by m...Contact



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