Goods and Services Tax (GST) was introduced in India on July 1, 2017, with an aim to simplify the tax system and bring transparency in tax payments. GST has replaced various indirect taxes and has made it easy for businesses to file tax returns. However, with the introduction of GST, there are different types of GST returns that businesses are required to file. In this blog, we will discuss different types of GST returns in India.

  • GSTR-1:

GSTR-1 is a monthly return that businesses are required to file. It contains details of outward supplies made by the business during the tax period. The due date for filing GSTR-1 is the 10th of the following month. However, businesses with a turnover of up to Rs. 1.5 crores can file GSTR-1 quarterly.

  • GSTR-2:

GSTR-2 is a purchase register that contains details of inward supplies received by the business during the tax period. It is auto-populated with details of purchases made by the business from suppliers who have filed their GSTR-1. Businesses are required to verify and confirm the details before filing GSTR-2. However, GSTR-2 has been discontinued from April 1, 2021, and will be replaced by GSTR-2B.

  • GSTR-2B:

GSTR-2B is a purchase register that contains details of inward supplies received by the business during the tax period. It is auto-populated with details of purchases made by the business from suppliers who have filed their GSTR-1. GSTR-2B is a read-only form, and businesses are required to verify and confirm the details before filing GSTR-3B.

  • GSTR-3:

GSTR-3 is a monthly return that contains details of outward supplies, inward supplies, and input tax credit (ITC) claimed by the business during the tax period. It is auto-populated with details of GSTR-1 and GSTR-2B. However, GSTR-3 has been discontinued from April 1, 2021, and has been merged with GSTR-1.

  • GSTR-3B:

GSTR-3B is a simplified monthly return that contains details of outward supplies, inward supplies, and ITC claimed by the business during the tax period. It is a self-declaration form, and businesses are required to file it before the 20th of the following month. GSTR-3B has replaced GSTR-1, GSTR-2, and GSTR-3.

  • GSTR-4:

GSTR-4 is a quarterly return that businesses registered under the Composition Scheme are required to file. It contains details of outward supplies made by the business during the tax period. The due date for filing GSTR-4 is the 18th of the month following the end of the quarter.

  • GSTR-5:

GSTR-5 is a monthly return that non-resident taxpayers and casual taxpayers are required to file. It contains details of outward supplies made by the business during the tax period. The due date for filing GSTR-5 is the 20th of the following month.

  • GSTR-6:

GSTR-6 is a monthly return that Input Service Distributors (ISDs) are required to file. It contains details of ITC received and distributed by the ISD during the tax period. The due date for filing GSTR-6 is the 13th of the following month.

  • GSTR-7:

GSTR-7 is a monthly return that tax deductors are required to file. It contains details of TDS deducted by the deductor during the tax period. The due date for filing GSTR-7 is the 10th of the following month.

  • GSTR-8:

GSTR-8 is a annual return that e-commerce operators are required to file. It contains details of sales made by the e-commerce operator during the financial year. The due date for filing GSTR-8 is the 31st of December of the following financial year.

Conclusion:

GST returns are an integral part of the GST regime. Businesses are required to file GST returns regularly to comply with the GST laws. In this blog, we have discussed different types of GST returns in India. It is important for businesses to understand the different types of GST returns and their due dates to ensure compliance with the GST laws. If you have any queries related to GST returns, you can contact ApkiReturn at +91 7665156000.

FAQs:

1. What is the due date for filing GSTR-1?

The due date for filing GSTR-1 is the 10th of the following month.

2. What is GSTR-2B?

GSTR-2B is a purchase register that contains details of inward supplies received by the business during the tax period.

3. What is GSTR-3B?

GSTR-3B is a simplified monthly return that contains details of outward supplies, inward supplies, and ITC claimed by the business during the tax period.

4. Who are required to file GSTR-4?

Businesses registered under the Composition Scheme are required to file GSTR-4.

5. What is the due date for filing GSTR-8?

The due date for filing GSTR-8 is the 31st of December of the following financial year.