Last updated: June 9th, 2023 11:50 AM

 GST Return Filing Due Dates

GST return filing is a critical aspect of the GST compliance framework. The GST system has streamlined the taxation process and brought uniformity to tax rates nationwide. Under GST, businesses must file various returns to report their tax liabilities and claim input tax credits. This article delves into the types of GST returns along with GST return filing due dates.

GST Returns - An Overview:

• GSTR-1:

Outward Supplies Return GSTR-1 is a monthly or quarterly return containing details of all outward supplies a taxpayer makes. It includes information about sales invoices, credit notes, debit notes, and export-related documents. All regular taxpayers must file GSTR-1 except those registered under the composition scheme. The due date for filing GSTR-1 is the 11th month for monthly filers and the 31st of the next quarter for quarterly filers.

• GSTR-2 and GSTR-2B:

GSTR-2A is an auto-populated return generated for a taxpayer based on the details provided by their suppliers in their GSTR-1 returns. It serves as a ready reckoner for the recipient to verify the accuracy of the details before accepting them. GSTR-2B, on the other hand, is an auto-drafted return generated for the recipient, which includes details of inward supplies from registered persons, including import of goods and services.

• GSTR-3B:

Summary Return GSTR-3B is a monthly return that summarizes the details of inward and outward supplies, input tax credits, and tax liability. All registered taxpayers must file this as a self-declaration of tax liability. Additionally, the due date for filing GSTR-3B is the 20th of the following month.

• GSTR-4:

Composition Scheme Return GSTR-4 is a quarterly return filed by taxpayers registered under the composition scheme. The scheme is available for small businesses with an annual turnover of up to Rs. 1.5 crores. GSTR-4 includes details of outward supplies, tax payable, and payment of tax liability. The due date for filing GSTR-4 is the 18th of the month following the end of the quarter.

• GSTR-5:

Non-Resident Foreign Taxpayer Return GSTR-5 is a monthly return. Non-resident foreign taxpayers who engage in business activities in India must file this return. This includes details of supplies made, input tax credit availed, and tax liability. The due date for filing GSTR-5 is the 20th of the following month.

• GSTR-6:

Input Service Distributor (ISD) Return GSTR-6 is a monthly return and Input Service Distributor (ISD) file this return to distribute input tax credit to its branches or units. ISD is the office of the supplier of goods and services that receives tax invoices and issues invoices to distribute input tax credit. GSTR-6 is filed on the 13th of the following month.

• GSTR-7:

Tax Deducted at Source (TDS) Return GSTR-7 is a monthly return filed by taxpayers who must deduct tax at source (TDS) under GST. This includes details of TDS deducted, TDS liability, and TDS paid. The due date for filing GSTR-7 is the 10th of the following month.

• GSTR-8:

Tax Collection at Source (TCS) Return GSTR-8 is a monthly return. E-commerce operators who collect tax at source (TCS) on supplies made through their platforms must file this return. This includes details of supplies, tax collected, and TCS liability. The due date for filing GSTR-8 is the 10th of the following month.

• GSTR-9:

Annual Return GSTR-9 is an annual return filed by regular taxpayers, providing a comprehensive summary of all GST transactions made during the financial year. This includes outward and inward supplies, input tax credit, and tax liability. The due date for filing GSTR-9 is the 31st December, at the end of the financial year.

• GSTR-10:

Final Return GSTR-10 is a final return filed by taxpayers who have cancelled their GST registration. This includes details of closing stock held on the date of cancellation and tax liabilities, if any. The due date for filing GSTR-10 is within three months since the date of cancellation or the date of the order of cancellation, whichever is later.

• GSTR-11:

Inward Supplies Statement for UIN GSTR-11 is a statement of inward supplies filed by entities allotted a Unique Identity Number (UIN). UIN is provided to foreign diplomatic missions, embassies, and other UN bodies for official purposes. The due date to file GSTR-11 is the 28th of the month preceding the month for which the statement is filed.  

Importance of Timely GST Return Filing

• Compliance with Tax Regulations:

The tax authorities have imposed GST return filing due dates as a statutory requirement. Complying with the deadline demonstrates a business's commitment to adhering to tax laws and fulfilling its obligations. This helps maintain transparency in the tax system and contributes to the overall integrity of the GST regime.

• Avoidance of Penalties:

Failing to file GST returns within the stipulated time can lead to penalties and late fees. The penalty for delayed filing typically involves a fixed amount per day of delay, which can accumulate significantly over time. These penalties can cause financial strain on businesses and erode profitability. By filing returns on time, companies can avoid such penalties and maintain financial stability.

• Input Tax Credit (ITC) Availability:

Timely GST return filing is crucial for businesses to claim input tax credits. Input tax credits are credits companies can avail for the GST paid on their purchases. However, the availability of ITC is subject to the condition that the supplier has reported the transaction correctly and filed their GST returns. The supplier must file returns by the due date to ensure the buyer can claim the ITC. Therefore, timely filing of returns provides compliance and safeguards eligibility for input tax credits.

• Enhanced Business Reputation:

Compliance with GST return filing deadlines reflects a business's commitment to ethical practices and responsible financial management. Meeting deadlines consistently builds a positive reputation in the market, instilling confidence in customers, suppliers, and stakeholders. Conversely, frequent delays or non-compliance can damage a business's reputation and erode trust. This can potentially impact its growth prospects.

• Facilitation of Financial Planning:

Timely GST return filing allows businesses to maintain accurate financial records and plan their finances effectively. The returns provide insights into sales, purchases, and tax liabilities, enabling enterprises to make informed decisions regarding cash flow management, inventory control, and expansion strategies. Regular and punctual filing ensures businesses can access real-time financial data to support their decision-making processes. Different types of GST returns not only report tax liabilities but also provide an overview of taxpayer transactions. By understanding the types of returns and their respective due dates, businesses can effectively manage their GST compliance requirements and contribute to the smooth functioning of the GST regime.  IndiaFilings can assist you in filing your GST returns in an easy and efficient way.