GST Returns, Do not forget the dates of returns.

GST return is a document that will contain all the details of your sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). Once you file GST returns, you will need to pay the resulting tax liability (money that you owe the government). 

Every company thats registered under GST Act has to periodically furnish the details of Sales, Purchases and Tax paid and collected by filing return with GST Authorities.

Types of GST Returns

GST ReturnsPurpose
GSTR1Tax return for outward supplies made (contains the details of interstate as well as intrastate B2B and B2C sales including purchases under reverse charge and inter state stock transfers made during the tax period).
GSTR2Monthly return for inward supplies received (contains tax payer info, period of return and final invoice-level purchase information related to the tax period, listed separately for goods and services).
GSTR3Consolidated monthly tax return (contains The taxpayer’s basic information (name, GSTIN, etc), period to which the return pertains, turnover details, final aggregate-level inward and outward supply details, tax liability under CGST, SGST, IGST, and additional tax (+1% tax), details about your ITC, cash, and liability ledgers, details of other payments such as interests, penalties, and fees).
GSTR3BTemporary consolidated summary return of inward and outward supplies that the Government of India has introduced as a relaxation for businesses that have recently transitioned to GST. Hence, in the months of July and August 2017, the tax payments will be based on a simple return called the GSTR-3B instead. 
GSTR9Annual consolidated tax return (It contains the taxpayer’s income and expenditure in detail. These are then regrouped according to the monthly returns filed by the tax payer).
GSTR9CAudit form that needs to be filed by every taxpayer who is liable to get their annual reports audited when their aggregate turnover exceeds Rs. 2 crores in a financial year.
Download GST return format. PDF

www.aces.gov.in/Documents/draft-return-formats-26092016.pdf

One of the major changes is GST expects you to submit the returns with Bills and its Items with HSN Codes. Before filing any return payment of tax due is pre requisite otherwise such return will be invalid. So be careful with dates by when each of these returns to file.

GST Cloud ERP solutions

Steps to File GST Returns with Date of Returns. There are multiple types of GST Returns – Filing GST Returns Online.

1.    Monthly Details of Inward Suppliers in Form GSTR-1 by 10th Next Month

2.   Monthly Details of Outward Suppliers in Form GSTR-2 by 15th Next Month

3.   Monthly Filing of Returns in Form GSTR-3 by 20th Next Month

4.   Quarterly Filing of Returns in Form GSTR-4 by 18th of month of next Quarter

5.   Monthly periodic return by Non Resident Foreign tax Payer GSTR-5 by 20th Next Month 

6.   Monthly periodic return for Input service distributor (ISD) form GSTR -6 by 15th Next Month 

7.   Monthly periodic GST return for TDS form GSTR-7 by 10th Next Month 

8.  Monthly periodic return by eCommerce suppliers – GSTR-8 by 10th Next Month 

9.   Annual Filing of return Form GSTR-9 by 31st December of next financial year.

Note that once the monthly returns on 20th of next month is done, you can’t modify the details again. So be careful. Filing GST Returns Online.

Any Support or Clarification.

Call Us: +91 80 2662 9236 or Email Us: sales@actouch.com

GST Ready Cloud ERP  – AcTouch.

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AUTOMATE YOUR BUSINESS PROCESS WITH ACTOUCH CLOUD ERP AT AN UNBELIEVABLE PRICE
  • Competitive Advantage
  • Improved Process Efficiency
  • Accurate Forecasting
  • Department Collaboration
  • Scalable Resource
  • Integrated Information
  • Cost Savings
  • Streamlined Processes
  • Mobility
  • Customized Reporting
  • Increased Productivity
  • Regulatory Compliance
  • Flexible Systems
  • Customer Service
  • Data Reliability