Home » GST » Articles » Points of GST return to be furnished by taxable entity

As per Draft rules total return from GSTR-1 to GSTR-11 format has been prescribed for registered taxable person and periodicity has been described in respective Rule under GST Law.

Return  summary for normal registered taxable person :

Form #/Section Detail Periodicity Due Date/Remarks
GSTR-1 Details of outward supply of taxable goods and services (Sec-32) Monthly 10th of succeeding month
GSTR-1A Details of outward supply as added corrected or deleted by the recipient(Sec-38) Monthly (Auto draft detail) Wrong/Short/Excess supply corrected by recipient subject to acceptance by supplier
GSTR-2 Detail of inward supply of taxable goods and services(Sec-33) Monthly 10th but before the 15th day of the succeeding month
 GSTR-2A  Details of inward supply made available to the recipient on the basis of GSTR-1 furnished by supplier(Sec-37)  Monthly (Auto draft detail)  Wrong/Short/Excess supply corrected by recipient subject to acceptance by ultimate supplier
 GSTR-3  Monthly return on the basis of finalization of details of onward supplies and inward supplies along with payment of tax(Sec-34)  Monthly on or before the twentieth day of the succeeding month
 GSTR-7  Return for authorities deducting tax at source(Sec-46)  Monthly  within 10 days after the end of the month
 GSTR-9  Annual Return(Sec-39)  Annually  On or before the 31st day of December following the end of such financial year
 GSTR-9B  Reconciliation statement(Sec-39)  Annually  Audited copy of the annual accounts and a reconciliation statement, reconciling the value of supplies declared in the return furnished for the year with the audited annual financial statement

Summary of returns for other registered taxable persons :

Form #/Section Detail Periodicity Due Date/Remarks
GSTR-4 Quarterly return for compounding taxable person(Sec-9) Qtrly To be decided
GSTR-5 Return by non-resident taxable person(Sec-24) Monthly Within 20 days after the end of a tax period or within seven days after the last day of the validity period of registration, whichever is earlier
GSTR-6 ISD Return (Sec-21)
GSTR-6A Details of inward supplies made available to ISD recipient on the basis of form GSTR-1 furnished by supplier (Sec-21)
GSTR-8 Statement of suppliers effected through e-commerce (sec-56) Monthly
GSTR-10 Final return (Sec-40) On cancellation/surrender of registration
GSTR-11 Details of inward supplies to be furnished by a person having UIN (Sec-48) Monthly or as and when inward receipt received Consulate or Embassy of foreign countries and any other person

Summary of Returns :

Periodicity of return # of return Total eturns annually Remarks
Monthly 6 72 GSTR-1,2,3,7 and auto drafted return GSTR-1A, 2A
Annually 2 2 GSTR-9,9B having 12 annexures for reconciliation duly reconciled with audited annual financial statement
Total 74

In addition to above following important points to be noted:

1. Format for non-filers of return is prescribed in GST-3 where return to be filed within 15 days from receipt of notice.
2. Format for communication of mismatch cases is prescribed in GST-ITC-1 regarding acceptance, discrepancy and duplication of ITC claim.
3. GSTR-1 can be finalized only after taking impact of auto drafted return of GSTR-1A which means-

i. Our outward supply tax liability ascertainment is finalized only after receipt confirmed by recipient or our final supply qty will be considered based on receipt qty accepted by recipient.
ii. For example if X has shown 10 Mt qty in GSTR-1 and recipient has accepted/received 9 Mt only accordingly auto drafted GSTR-1A will show 9 Mt which either supplier has to accept or get it corrected from recipient within time to ascertain final tax liability.
iii. I means supply qty is having link with qty received and accepted by recipient.
iv. All supplier has to make proper mechanism for timely validation of outward supply qty, value from recipient in same month to avoid any mismatch and adjustment in subsequent month by way of debit note or credit note.

4. GSTR-2 has following elements.

i. Supplies from registered person – Regular and Composition scheme.
ii. Supplies from Unregistered Person
iii. Supplies attracting reverse charge
iv. Amendments to details of inward supplies received in earlier tax periods.
v. Goods received from abroad / Amendments of earlier period.
vi. Services received from outside India/ Amendments/Earlier period details
vii. Details of Debit/Credit note and Amendments related to earlier tax period.
viii. Supplies from composition taxable person/unregistered person & exempt / Nil/ non GST supplies Scheme.
ix. ISD credit received
x. TDS credit received
xi. TCS credit received
xii. Tax liability under reverse charge on advance paid without invoice.

5. GSTR-9 Annual Return with 9B having following summary of annexures.

1. Detail of supplies and corresponding taxes
2. Total outward supplies
3. Total inward supplies
4. Total tax liability on output supply and supplies liable to reverse charge
5. Input tax credit availed during the year
6. Payment of tax liability on output supply and supplies liable to reverse charge.
7. By utilising cash in cash ledger
8. By utilising input tax credit ledger
10.Deposit by challans
11.Transfer of TDS from Deductors
12. Retunds
13. Amounts paid under protes/as pre-deposit against demand
14. Balance as on date of financial statements (GST payable)
15. Balance as on date of financial statements (ITC)
16. TDS deducted

Having voluminous requirement of uploading of invoice wise detail of outward supply and validation of inward supply following check list can be followed for ensuring 100% compliance under GST.

1. Return are reconciled with annual report, balance sheet through robust ERP IT system.
2. All advances also to be matched with reference ID and reverse charge cases matches.
3. Annual return contain 12 annexure pertains to reconciliation to be matched with annual return.
4. All credit booked under capital goods credit are part ot capitalization means part of fixed asset register or not.

From above details it is clear that all business houses have to design their accounting system and SAP and Oracle system in such a way that required information from filing monthly and annual return received from system and reconciliation statement of all outward supply and inward supply received matches with audited annual accounts.

Print Friendly, PDF & Email

Leave a Reply

Your email address will not be published. Required fields are marked *