GST Returns & Compliance (Updated for FY 2024-25)
Goods and Services Tax (GST) in India - Returns & Compliance (Updated for FY 2024-25)
1. Introduction to GST Returns
GST Returns are documents that registered taxpayers must file with the government, containing details of their sales,
purchases, tax collected, and tax paid. Filing GST returns is mandatory for businesses registered under GST.
2. List of GST Returns and Their Purpose
| GST Form | Purpose | Filing Frequency |
|----------|---------|-----------------|
| **GSTR-1** | Details of outward supplies (sales) | Monthly/Quarterly |
| **GSTR-2A** | Auto-generated purchase details (View Only) | Monthly |
| **GSTR-3B** | Summary return of sales, purchases, tax paid | Monthly |
| **GSTR-4** | Return for composition scheme taxpayers | Annually |
| **GSTR-5** | Return for non-resident taxable persons | Monthly |
| **GSTR-6** | Return for Input Service Distributors (ISD) | Monthly |
| **GSTR-7** | Return for TDS deductors under GST | Monthly |
| **GSTR-8** | Return for e-commerce operators collecting TCS | Monthly |
| **GSTR-9** | Annual return for regular taxpayers | Annually |
| **GSTR-9C** | Reconciliation statement for businesses above Rs.5 crore turnover | Annually |
| **GSTR-10** | Final return for GST registration cancellation | One-time |
| **GSTR-11** | Return for UIN holders (Embassies, UN Bodies) | Monthly |
3. Key GST Returns Explained
**A. GSTR-1 (Outward Supplies Return)**
- Filed by: Regular taxpayers
- Details: Sales invoices, credit/debit notes issued
- Due Date: 11th of the next month (monthly) or end of the next month (quarterly for QRMP scheme)
**B. GSTR-3B (Summary Return)**
- Filed by: Regular taxpayers
- Details: Summary of sales, purchases, tax paid
- Due Date: 20th of next month (monthly) or staggered due dates for QRMP
**C. GSTR-4 (For Composition Taxpayers)**
- Filed by: Composition Scheme taxpayers (turnover < Rs.1.5 crore)
- Details: Summary of sales and tax liability
- Due Date: 30th April of the next financial year
**D. GSTR-9 (Annual Return)**
- Filed by: Regular taxpayers (Turnover > Rs.2 crore)
- Details: Consolidated sales, purchases, tax paid during the year
- Due Date: 31st December of the next financial year
**E. GSTR-9C (Reconciliation Statement)**
- Filed by: Taxpayers with turnover above Rs.5 crore
- Details: GST audit and reconciliation with financial statements
- Due Date: 31st December
4. GST Late Fees & Penalties
- Late Fee for GSTR-3B/GSTR-1: Rs.50 per day (Rs.20 for NIL return)
- Late Fee for GSTR-9: Rs.100 per day per Act (CGST + SGST = Rs.200 per day)
- Interest: 18% per annum on outstanding tax
5. How to File GST Returns?
1. Log in to GST Portal: [[Link]
2. Select the return form (GSTR-1, GSTR-3B, etc.)
3. Enter sales, purchases, tax details
4. Validate and pay tax if applicable
5. Submit and file the return
Conclusion:
Filing GST returns on time helps businesses avoid penalties and maintain compliance. Taxpayers must keep track of
their filing deadlines and maintain proper records.
