What is GST Returns Filings ?

GST has been implemented in India from 1st July, 2017. Under the new GST regime, nearly 1 crore busineses in India have obtained GST registration. All entities having GST registration are required to file GST returns, as per the GST return due date schedule mentioned below. GST return filing is mandatory for all entities having GST registration, irrespective of business activity or sales or profitability during the return filing period. Hence, even a dormant business that obtained GST registration must file GST return.

A GST Return is a document that is required to be filed as per the law with the tax authorities. Under the GST law, a taxpayer has to submit three returns on a monthly basis and one such return annually. All returns have to be filed online. Please note that there is no provision for revising the returns. All invoices of the previous tax period that went unreported must be included in the current month.

GST registration holder are required to file GSTR-1 (details of outward supplies) on the 10th of each month, GSTR-2 (details of inward supplies) on the 15th of each month and GSTR-3 (monthly return) on the 25th of each month. Dealers registered under the GST composition scheme are required to file GSTR-4 every quarter, on 18th of the month next to the quarter. Finally, annual GST return must be filed by all GST registered entities on/before the 31st of December. The due dates for the GST return due in July, August and September are different from the normal schedule to help the taxpayers and GSTN network ensure a smooth GST rollout.

forosado is the leading business services platform in India, offering end to end GST services from registration to return filing. forosado can help you file GST returns in India. The average time taken to file a GST return is about 1 - 3 working days, subject to government processing time and client document submission. Get a free consultation on GST return filing by scheduling an appointment with an forosado Advisor.

Schedule for Return Filing

GSTR1 or return of outward supplies must be filed by all taxpayers having regular GST registration. The due date for filing GSTR1 return is the 10th of every month. For July, September and October, the GST return due dates are different from the normal schedule.

GSTR2 or return of inward supplies must be filed by all taxpayers having regular GST registration. The due date for filing GSTR 2 return is the 15th of every month. For July, September and October, GSTR2 return due dates are different from the normal schedule.

GSTR3 or monthly GST return must be filed by a taxpayer after filing GSTR1 and GSTR2 return. GSTR3 is due on the 20th of every month. For July, September and October, GSTR2 return due dates are different from the normal schedule.

GSTR4 return must be filed by taxpayer registered under the GST composition scheme. GSTR4 is a quarterly return that is due on the 18th of October, January, April and July.

GSTR5 return must be filed by persons registered under GST as a non-resident taxable person. GSTR5 is due on the 20th of every month.

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