GST Returns : All types of gst returns, due dates & Penalties
Every registered taxpayers under GST require to file their gst returns on time to save penalties. In this article you will found all information about GST returns, its types, due dates & penalties
GST returns due date- upcoming
CBIC extended due date for filing Form GSTR-7 till 31st January 2019
Types and Due dates of GST returns
As originally provided in CGST Act, 2017 and CGST Rules(Return)
|Form Name||About form||Frequency||Due Date|
|GSTR-1||Details of outward supplies of goods or services||Monthly||10th of the next month|
|GSTR-2||Details of inward supplies of goods or services||Monthly|| |
15th of the next month
|GSTR-3||Monthly return- both inward and output supplies||Monthly|| |
20th of the next month
|GSTR-3B||Simple return for Jul 2017- Mar 2018||Monthly||20th of the next month|
|GSTR-4||Quarterly return for registered person opting for composition levy||Quarterly|| |
18th of the month succeeding quarter
|GSTR-5||Return for Non Resident Taxable Person||Monthly|| |
20th of the next month
|GSTR-6||Return for Input Service Distributor||Monthly||13th of the Next Month|
|GSTR-7||Return for Tax Deductor (TDS-RETURN)||Monthly||10th of the Next Month|
Details of supplies effected through e-commerce operator and the amount of tax collected
10th of the Next Month
|GSTR-9||Annual Return||Annually||31st December of Next financial year|
|GSTR-10||Final Return||At the time of cancellation/ surrender of registration||Within three months of the date of cancellation or date of cancellation order, whichever is later.|
|GSTR-11||Details of inward supplies to be furnished by a person having UIN and claiming refund||Monthly|| |
28th of the month following the month for which statement is filed
GST Returns are the forms prescribed by GST act and rules for the purpose of calculating the tax liability and to verify the accuracy of business transactions
Under GST there are various returns to enter details like:
- Output GST (On sales)
- Input tax credit (GST paid on purchases)
LATE FEES AND PENALTIES ON NON-FILLING OF GST RETURN
Return filing is mandatory under GST. Even if there is no transaction, you must file a Nil return.
- Interest is 18% per annum. It has to be calculated by the tax payer on the amount of outstanding tax to be paid. Time period will be from the next day of filing to the date of payment.
- As per GST Act Late fee is Rs. 100 per day per Act. So it is 100 under CGST & 100 under SGST.
- Late Fee for filing GSTR-1, GSTR-3B, GSTR-4, GSTR-5 & GSTR-6 after the due date has been reduced to Rs. 50 per day of delay.
- Late fee for filing NIL returns have been reduced to Rs. 20 per day of delay for taxpayers(i.e having Nil tax liability for the month) for GSTR-1, GSTR-3B and GSTR-4 & GSTR-5.
Note: Subject to change by notifications/refer latest updates