GST RETURNS
A GST return is a statutory document which containing details of the total income of a taxpayer which is used by tax administrative authorities to calculate the tax liability.
A GST Return contains the following:
- Tax paid and payable
- Outward and inward supplies
- Input tax credits availed
- Total Purchases and Sales
The types of GST Returns filed by regular taxpayers include the following:
- GSTR1
Carries details of taxable goods or services, or both as well as that of outward supplies
- GSTR2
Carries details of inward supplies related to taxable goods and/or services, along with ITC claim.
- GSTR3
Includes details of monthly returns based on finalised detail related to inward and outward supplies.
It also includes details of total tax payable.
- GSTR4
Carries details related to Quarterly Return filing, specifically for compounded tax liabilities of specific individuals.
- GSTR5
Includes details of GST return filing for non-resident foreign individuals.
- GSTR6
Serves as the form for Input Service Distributors to file returns.
- GSTR7
Serves as the form facilitates Return filing for authorities initiating TDS.
- GSTR8
Carries supply details for e-commerce operators along with the tax amount collected
- GSTR9
Serves as the form to file Annual Returns
- GSTR9A
Annual Return a taxpayer registered under the composition levy anytime during the year
