Taxpayers registered under GST have to file several GST Returns to report the outward supply of goods and services and a reconciliation return of GST Liability vs Payment. Setindiabiz’s team of tax filers helps comply with the GST provisions.
| Transactions | Monthly | Quarterly | Half Yearly |
|---|---|---|---|
| Nil | 199 | 499 | 900 |
| 1-10 | 750 | 2000 | 3800 |
| 11-25 | 1500 | 4000 | 7500 |
| 26-50 | 3000 | 7500 | 14000 |
| 51-100 | 5000 | 12000 | 22000 |
Depending on its category, a taxpayer registered under GST must file several returns at the GSTN Portal. There are 22 types of GST Returns prescribed under the GST, of which only 11 are active. The due dates are subject to change through a notification; please refer to gst.gov.in for updated information. We offer services to comply with the requirements under the GST Law and file GST returns based on the data you prepared. Following are the most common GST Returns that have to be filed by the GST-registered taxpayer.
| GST Return | Applicability | Due Date |
|---|---|---|
| GSTR-1 | Applies to All Taxpayers for reporting of outward supplies. | 11th of next Month or 13th of Next Month Following Quarter |
| GSTR-3B | Every registered taxpayer has to file a reconciliation return of GST Dues and Paid. | 22 to 24th Day of Next Month |
| GSTR-4 (Composition) | By the taxpayer under the Composition Scheme | 30th April for Preceding Year |
| GSTR-9 (Annual Return) | Annual return is mandatory after the turnover crosses two crores. | 30 December 2021 For FY 2020-21 |
Every registered taxpayer under the GST must file a monthly or quarterly return of the sale of goods or services provided (also known as outward supplies). The filing of a GSTR-1 Return is mandatory to report the taxable, exempt, and zero-rated supplies during the relevant tax period. The outward supplies so that the buyer can claim an Input Tax Credit (ITC) based on the details provided in the GSTR-1 Return.
GSTR-1 Filing Frequency: Originally, GSTR-1 was planned to be a monthly filing for all taxpayers. However, to relieve small taxpayers, the frequency of filing the GSTR-1 return can be selected as either monthly or quarterly. Even if the GSTR-1 filing frequency is selected as quarterly, the taxpayer must still file the details of invoices through the Invoice Furnishing Facility (IFF).
| S.No | Turnover (INR) | Frequency | Due Date |
|---|---|---|---|
| 1. | Upto 5 Crore | Quarterly | 13th of the month following the quarter |
| 2. | More than 5 Crore | Monthly | 11th of Next Month |
Though monthly filing is mandatory for taxpayers with a turnover of more than five crores, the frequency of quarterly filing for small tax filers (turnover lesser than 5 crores) can be modified to monthly or quarterly at the taxpayer’s choice at the beginning of the financial year or quarter.
The GSTR-3B is a simplified monthly or quarterly return to self-declare a summary of outward supplies, the tax liability, and the Input credit claimed for the resulting tax liability. Unlike the GSTR-1, which captures details of sales, the GSTR-3B return is focused on reporting the tax liability and the amount paid towards it. Based on the frequency of GST Return filing, the GSTR-3B must be filed within its due date, which differs from state to state. For monthly files, the due date to file GSTR-3B is the 20th of the following month. However, for quarterly filers, the due dates are 22 and 24, depending on the state, following the table of due dates for GSTR3B Filing under the QRMP Scheme.
| X Category 22 Day of Next Month | Y Category 24 Day of Next Month |
|---|---|
| Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep. | Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union Territories of Jammu and Kashmir, Ladakh, Chandigarh and New Delhi. |
In order to reduce the tax compliance burden on small taxpayers, the QRMP scheme was introduced to provide an option of filing the GST Returns, such as GSTR-1 and GSTR-3B, on a quarterly basis while continuing to pay the GST Liability on a monthly basis. The QRMP scheme is available for taxpayers with an annual turnover of up to five crore rupees. The important points of the QRMP scheme are as under
| Quarterly Returns | Monthly Tax Payments | Invoice Furnishing Facility (IFF) |
|---|---|---|
| The GST Returns, such as GSTR-1 and 3B, shall be filed every quarter. | The taxpayer must calculate the GST tax liability and pay the GST using a fixed sum method. | The taxpayer should upload B2B sales, credit and debit notes in IFF |
The taxpayers who have opted for the QRMP scheme under the GST can file the GSTR-1 return on a quarterly basis. However, these taxpayers have to furnish details of their B2B (business-to-business) sales invoices to the GSTN. The seller filing the IFF enables the buyer to avail of the Input Tax Credit on time, thus helping in cash flow improvements. The details to be furnished in IFF include GSTIN of the buyer, Invoice number, Invoice date, Taxable amount and applicable tax (CGST, SGST, IGST). You can also add credit/debit notes. The IFF should be filed between the 1st to 13 of the month.
The IFF can be filed only by a GST Taxpayer who has opted for quarterly GSTR-1 Return filing for the first two months of the quarter. The details of the outward supplies for the last month of the quarter will be filed in the quarterly GSTR-1 Return. The IFF is purely optional, and in case there are no significant B2B transactions, it may be skipped.
GSTR 9 applies to a particular class of Taxpayers and is an annual return filed at GSTN by the taxpayer within its due date for the respective financial year. The GST Annual Return consolidates all the monthly or quarterly returns filed by the taxpayers, such as GSTR-1 and GSTR-3B. In the GSTR-9, the taxpayers get a final opportunity to reconcile the tax filings of a particular financial year and take corrective steps. Here are the applicability and certification criteria for the Annual GST return.
| No | Taxpayer Category | Certification |
|---|---|---|
| 1 | Turnover less than 2 Crore - Annual Return in GSTR-9 is optional | Not Required |
| 2 | Turnover less than Rs. 5 Crore | Self Certification |
| 3 | Turnover above Rs. 5 Crore | CA Certification |
The taxpayer is expected to file the applicable GST Returns within their due dates to ensure free flow of credit in the tax system. However, the delayed filing of GST Returns is allowed subject to the late fee. In the case of NIL GST Returns, the late fee is Rs. 20 for each day of delay, and for Non-NIL Gst returns, the late fee payable is Rs. 50 per day. There is an upper cap on the late fees to reduce the burden of recurring Late Fees on small taxpayers.
| S.No | Case | Late Fee |
|---|---|---|
| 1 | NIL Tax Liability | Capped at Rs 500/- (Rs 250 CGST + Rs 250 SGST) |
| 2 | Turnover in the previous year is up to Rs 1.5 Crores | Capped at Rs 2000/- (1000 CGST + 1000 SGST); |
| 3 | Turnover in the previous year is more than Rs 1.5 Crores but up to Rs. 5 Crores | Capped at Rs 5000/- (2500 CGST + 2500 SGST); |
| 4 | Turnover in the previous year exceeded Rs 5 Crores | Capped at Rs 10000/- (5000 CGST+ 5000 SGST); |
1 Late Fee on Delay in Filing Form GSTR-4 by Composition Dealer: Capped to Rs 500 (Rs 250 CGST + Rs 250 SGST) per return, if the tax liability is nil in the return, and Rs 2000 (Rs 1000 CGST + Rs 1000 SGST) per return for others.
2 Late fee payable for delayed furnishing of FORM GSTR-7: Reduced to Rs.50/- per day (Rs. 25 CGST + Rs 25 SGST) and to be capped to a maximum of Rs 2000/- (Rs. 1,000 CGST + Rs 1,000 SGST) per return.
The GST is the primary source of revenue for the states and the union of India, the taxes are required to be paid monthly, and any delay in the payment in the GST to the credit of the Government of India attracts an interest of 18% per annum levied on daily basis.
Due to various reasons, including the complexity of the GST system during the initial period of its launch, several thousand taxpayers defaulted on filing the GST Returns. It is to be noted that even if there is no business, the taxpayers are required to file the NIL Return until the taxpayer registration with the GST is active. To provide relief to such taxpayers, the late fee for non-furnishing FORM GSTR-3B for the tax periods from July 2017 to April 2021 has been reduced/waived as under :
| No | Case | Late Fee |
|---|---|---|
| 1 | NIL Return: For taxpayers, who did not have any tax liability for the particular; | Late fee capped to a maximum of Rs 500/- (Rs. 250/- each for CGST & SGST) per return |
| 2 | For other taxpayers | Late fee limited to a maximum of Rs 1000/- (Rs. 500/- each for CGST & SGST) per return for other taxpayers; |
Window: The reduced rate of the late fee would apply if GSTR-3B returns for these tax periods are furnished between 01.06.2021 to 31.08.2021. (Extended to 30th November 2021)
