Various Returns To Be Filed Under GST ( Goods And Services Tax) Regime

In India, the Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services. GST returns are filed by registered taxpayers to report their business transactions and calculate their tax liability. There are several types of GST returns that taxpayers need to be aware of:

1. GSTR-1 (Outward Supplies Return): This return includes details of outward supplies made by the taxpayer, such as sales and invoices issued, during a specific period. It needs to be filed monthly or quarterly, depending on the taxpayer’s turnover.

2. GSTR-3B (Summary Return): GSTR-3B is a monthly self-declaration of summary GST liabilities along with the input tax credit claimed. It includes both outward and inward supplies, and the taxpayer calculates and pays the net tax liability through this return.

3. GSTR-4 (Composition Scheme Return): Applicable to taxpayers under the composition scheme, this return is filed on a quarterly basis. It includes details of outward supplies, tax payable, and the payment made.

4. GSTR-5 (Non-Resident Foreign Taxpayer Return): GSTR-5 is filed by non-resident foreign taxpayers who engage in taxable supplies in India. It contains information about their business activities and taxes paid.

5. GSTR-6 (Input Service Distributor Return): Filed by an Input Service Distributor (ISD), this return provides details of input tax credit distributed to various units of the same entity.

6. GSTR-7 (Tax Deducted at Source Return): This return is for taxpayers who are required to deduct tax at source from payments made to suppliers. It contains details of TDS deducted and deposited.

7. GSTR-8 (E-commerce Operator/Tax Collector at Source Return): Applicable to e-commerce operators, this return captures details of supplies made through their platform and the TCS (Tax Collected at Source) collected.

8. GSTR-9 (Annual Return): GSTR-9 is an annual return summarizing the taxpayer’s GST transactions for the financial year. It includes comprehensive details of inward and outward supplies, input tax credit, and taxes paid.

9. GSTR-10 (Final Return): Filed when a taxpayer’s GST registration is canceled or surrendered, GSTR-10 provides information about stock held and liabilities as of the date of cancellation.

10. GSTR-11 (Inward Supplies Statement for UIN Holders): GSTR-11 is filed by entities having a Unique Identification Number (UIN), such as diplomatic missions and embassies, to declare inward supplies.