Showing posts with label GST Return. Show all posts
Showing posts with label GST Return. Show all posts

GST Returns - Types of Forms and Due Dates

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'Change is only Constant' because Change in one thing that ends up impacting the other. Goods and Services Tax, popularly known as GST, is a reform for our economy's indirect tax plan. On 8th August 2016, GST Bill (Which was long pending) was passed in Lok Sabha. It was possible after a very long journey flooded with challenges, Confrontations. As last, the GST Bill has entered the phase of implementation, which will come into effect from July 1, 2017. GST would make changes in the tax structure between the Center and the State.

GST is like Value Added Tax (VAT) that will eradicate the cascade effect/double taxation from the price of goods and services down the value chain. It would surely affect the incidence, structure and calculation of the indirect taxes, which will lead to a comprehensive refurbishment of the current tax system in India.

Here are the list of GST Returns :
Sl. No.
Return Form
Particulars
1
GSTR-1
Details of Outward Supplies of Taxable Goods or Services or Both effected
2
GSTR-2
Details of Inward Supplies of Taxable Goods or Services or Both claiming Input Tax Credit
3
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
4
GSTR-4
Quarterly Return for Compounding Taxable Persons
5
GSTR-5
Return for Non-Resident Foreign Taxable Persons
6
GSTR-6
Input Service Distributor Return
7
GSTR-7
Return for Authorities Deducting Tax At Source
8
GSTR-8
Details of Supplies effected through e-Commerce Operator and the amount of tax collected as required under sub-Section (52)
9
GSTR-9
Annual Return
10
GSTR-9A
Simplified Annual Return by Compounding Taxable persons registered under Section 10


Due Dates of GST Return:
Sl. No.
Return Form
Due Dates
1
GSTR-1
10th of Next Month
2
GSTR-2
After the 10th But before 15th of Next Month
3
GSTR-3
20th of Next Month
4
GSTR-4
18th from end of the Quarter
5
GSTR-5
20th from end of the month or within 7 days after the last day of validity of registration whichever is earlier.
6
GSTR-6
13th of Next Month
7
GSTR-7
10th of Next Month
8
GSTR-8
10th of Next Month
9
GSTR-9
31st December of Next Financial Year
10
GSTR-9A
31st December of Next Financial Year


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