GST Returns

GST Returns Simplified: Which One Applies to You? Filing GST returns is a key compliance requirement for businesses in India. But with multiple returns, understanding which one to file can be confusing! Here’s a quick breakdown of the key GST returns and their purpose: --- 1️⃣ GST Returns for Regular Taxpayers A. Outward & Summary Returns ✅ GSTR-1 – Reports details of all outward supplies (sales) made during the period. Businesses must declare invoice-wise sales and tax collected. ✅ GSTR-3B – A summary return that includes total sales, input tax credit (ITC) claimed, tax payable, and tax paid. This is used for tax payment. B. Annual & Audit Returns ✅ GSTR-9 – The annual return consolidating all GSTR-1 and GSTR-3B details for the financial year. ✅ GSTR-9C – A reconciliation statement and audit report required for businesses with a turnover exceeding ₹5 crore. --- 2️⃣ GST Returns for Composition Scheme Taxpayers A. Annual & Tax Payment Returns ✅ GSTR-4 – An annual return for composition dealers (small businesses with turnover up to ₹1.5 crore). It summarizes sales and tax paid under the scheme. ✅ CMP-08 – A quarterly form used to pay tax under the composition scheme. --- 3️⃣ GST Returns for E-Commerce Operators & TDS/TCS Deductors A. Non-Resident & Online Service Providers ✅ GSTR-5 – Filed by non-resident taxpayers conducting business in India, showing sales and tax liability. ✅ GSTR-5A – Filed by Online Information and Database Access or Retrieval (OIDAR) service providers for services provided to Indian consumers. B. Input Tax Credit & Tax Deduction ✅ GSTR-6 – Filed by Input Service Distributors (ISD) to distribute input tax credit (ITC) to their branches. ✅ GSTR-7 – Filed by businesses that deduct TDS (Tax Deducted at Source) on GST payments. ✅ GSTR-8 – Filed by e-commerce operators to report TCS (Tax Collected at Source) deducted from suppliers selling on their platform. --- 4️⃣ Special GST Returns A. Cancellation & Refund Returns ✅ GSTR-10 – A final return that must be filed when a GST registration is canceled or surrendered. ✅ GSTR-11 – Filed by UIN holders such as foreign embassies and diplomatic missions to claim GST refunds. --- 5️⃣ GST Returns for QRMP Scheme Taxpayers (Turnover ≤ ₹5 crore) ✅ GSTR-1 & GSTR-3B – Filed quarterly instead of monthly, while tax is paid monthly using PMT-06 under the QRMP scheme.