New Indirect Tax Regime – GST

Goods and Services Tax is considered as the poster boy of Indian Economic Reforms. It is expected to revolutionize the way Indian’s do business. Businesses small and large are expected to get impacted by its implementation. The new regime will unify the return filing process across the country. Until June 2017, businesses were required to file their sales tax/ VAT return on monthly, quarterly or half-yearly basis depending on the business they were doing and the state they were operating from. However, now under the new regime monthly/quarterly return will need to be filed. Here we are providing a list of all the returns notified under the GST law. Though these returns have been notified, however, the filing process for some of these returns have been postponed indefinitely to bring ease of transition for businesses.

Returns Applicable Under GST

In the table below, we have provided details of all the returns which are required to be filed under the GST Law.

Return Form What to file? By Whom? By When?
GSTR-1 Details of outward supplies of taxable goods and/or services effected Registered Taxable Supplier 10th of the next month
GSTR-2 Details of inward supplies of taxable goods and/or services effected claiming input tax credit. Registered Taxable Recipient 15th of the next month
GSTR-3 Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of amount of tax. Registered Taxable Person 20th of the next month
GSTR-4 Quarterly return for compounding taxable person. Composition Supplier 18th of the month succeeding quarter
GSTR-5 Return for Non-Resident foreign taxable person Non-Resident Taxable Person 20th of the next month
GSTR-6 Return for Input Service Distributor Input Service Distributor 13th of the next month
GSTR-7 Return for authorities deducting tax at source. Tax Deductor 10th of the next month
GSTR-8 Details of supplies effected through e-commerce operator and the amount of tax collected E-commerce Operator/Tax Collector 10th of the next month
GSTR-9 Annual Return Registered Taxable Person 31st December of next financial year
GSTR-10 Final Return Taxable person whose registration has been surrendered or cancelled. Within three months of the date of cancellation or date of cancellation order, whichever is later.
GSTR-11 Details of inward supplies to be furnished by a person having UIN Person having UIN and claiming refund 28th of the month following the month for which statement is filed
GSTR-3B Monthly Summary Return of Purchase and Sale Registered Taxable Person 20th of the month following the month for purchase and sale
2018-04-02T17:21:05+00:00July 24th, 2017|GST Return|
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