GST Return Filing is to be filed electronically, i.e. on the GST portal. GST Return Filing is a complete online process. GST filing is very easy and quick process. The suppliers registered under this law needs to fulfill the compliance requirement regularly. Based on the turnover and the activities, the requirements and period of filing returns are prescribed under law. All you need is GST website login credentials to get started. Once your GST registration is done, GST return filing is mandatory.
Types of Return Filing under GST:
GSTR – 1: Details of outward supplies
GSTR 1 is the record of all sales made. Under this form, the suppliers have to report their outward supplies during the reporting month. According to the norm, all the registered taxable persons are required to file the same by the 10th of the following month or quarter.
GSTR 3B: Finalised details of the supplies with payment of taxes
GSTR-3B is a monthly self-declaration, which should be filed by every registered person under GST. It is a simplified summary return of inward and outward supplies. The due date of filing of GSTR 3B is 20th of the subsequent month. GSTR 3B once filed cannot be revised.
GSTR 9: GST Annual Return for normal taxpayers
It is mandatory for all the taxpayers registered under GST to file their annual return in a particular form called the GSTR 9. The due date of filing of GSTR 9 is 31st December every year. It is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year.
GSTR 9A: GST Annual Return for the dealers who have opted composition scheme
GSTR 9A is an annual return to be filed by dealers who have opted composition scheme. It comprises of all the information furnished in the quarterly returns filed by the composition taxpayers during that financial year. Due date of filing of GSTR 9A is 31st December every year.
GSTR 4: Quarterly return by Composition Taxpayers
GSTR-4 is a return to be filed by a Composition Dealer. Unlike a normal taxpayer who needs to furnish 3 monthly returns, a dealer opting for the composition scheme is required to furnish 1 return which is GSTR-4. The due date for GSTR 4 is 18th of the month subsequent to each quarter.