May 22, 2024

What are the different types of gst returns?

Are you confused about the different types of GST returns in India? Don’t worry, you’re not alone. With the introduction of GST, there has been a lot of confusion among taxpayers regarding the filing and procedures for various types of GST returns. In this blog post, we will discuss all the different types of GST returns in India and their respective due dates to help you navigate through this complex system with ease. So sit tight and get ready to learn everything there is to know about GST returns!

Introduction to GST

GST stands for Goods and Services Tax and it is a consumption tax levied on the sale of goods and services in India. The GST is a comprehensive, indirect tax that replaces several other taxes such as value-added tax (VAT), central excise duty, service tax, octroi, and entry tax. It was introduced on 1 July 2017 by the Indian government.

There are three types of GST in India: Central GST (CGST), State GST (SGST), and Union Territory GST (UTGST). CGST and SGST are levied by the central and state governments, respectively, while UTGST is levied by the union territories. Under the GST regime, businesses have to file monthly, quarterly, or annual returns depending on their turnover.

Types of GST Returns

Let’s look at some of the most important types of gst returns:

GSTR 1- Outward Supply

As per the GST law, every registered person is required to file a return for their outward supplies. The details of such outward supplies are to be furnished in Form GSTR-1 on a monthly or quarterly basis. This return form has to be filed by 10th of the next month. For example, if your filing period is July, the details have to be uploaded on the GST portal by 10th August. The return filing frequency depends on the turnover of the business during the previous financial year. If it is more than Rs. 1.5 crore, then you have to file GSTR-1 on a monthly basis. If it is less than Rs. 1.5 crore, you can file GSTR-1 either monthly or quarterly.

This information must contain:

o Taxpayer name and address
o Period for which statement is being filed
o Total turnover for the said period
o List of all invoices issued during the period with relevant details such as:
o Invoice number
o Date of invoice
o Invoice value
o Taxable value
o Rate of tax  
o Amount of CGST, SGST or IGST levied


GSTR 2A- Inward Supply

GSTR 2A is a return that captures all the inward supplies made to a registered person from his/her suppliers. It is auto-generated on the basis of invoices uploaded by the supplier on the GST portal. The registered person can view and download this return in PDF format.

GSTR 3B- Monthly Return

GSTR 3B is a monthly GST return that must be filed by all registered taxpayers. This return includes all of the information required to calculate your GST liability for the month, including your total sales and purchases, any GST credits or refunds you are entitled to, and any adjustments or corrections to previous returns. For tax payers with a pending GSTR-3B the government has also introduced the GST amnesty scheme. Visit this page for more info.

GSTR 4- Quarterly Return

GSTR 4 is a quarterly return that needs to be filed by those registered under the composition scheme. This return must be filed even if there is no business activity during the quarter. The due date for filing GSTR 4 is the 20th of the month following the end of the quarter.

Leave a Reply

Your email address will not be published. Required fields are marked *