GST RETURN FILINGS
Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer and as a destination-based tax, it is collected from point of consumption and not point of origin like previous taxes.
Under the new taxation regime Taxpayers have to file various monthly and Quarterly Returns and Forms under the Central Goods and Service Tax Act, 2017 to comply with the Provision of the Act.
Taxpayer has to file the following Returns
For Regular Taxpayer
- GSTR 1 Filed by all registered taxpayers for Outward Supplies
- GSTR 3B Summarized details of all outward supplies made, input tax credit claimed, tax
liability ascertained and taxes paid. - GSTR 9 Annual return to be filed by taxpayers registered under GST
For Composition Scheme
- GSTR 4 Filed by taxpayers who have opted for the Composition Scheme
- GSTR 9A Annual return to be filed by taxpayers who have registered under the Composition
Scheme in a financial year
For Others
- GSTR 5 Filed by non-resident foreign taxpayers
- GSTR 6 Filed by an Input Service Distributor (ISD)
- GSTR 7 Filed by persons required to deduct TDS (Tax deducted at source) under GST
- GSTR 8 Filed by e-commerce operators registered under the GST who are required to
collect tax at source (TCS)
- GSTR 9B Filed by Electronic Commerce Operator
- GSTR 11 Filed by persons who have been issued a Unique Identity Number(UIN)