GST Returns Filing: Basic Idea About GST Return

GST Returns:

GST return is a document, holding details of income which a taxpayer has to file with the tax authorities. Tax officials use it to calculate tax balance.

Under GST, a dealer having GSTIN has to file GST returns that involve:

  • Purchases
  • Sales
  • Output GST
  • Input tax credit (ITC)

To file GST returns, it requires GST acquiescent sales and purchase invoices. You can generate GST docile invoices for free on the official website of GST.

gst returns

After GST implementation, it was easy to impose a tax as materials were put in an appropriate category. But filing GST Returns isn’t easy as people were expecting. In this article, I will try to explain to you GST returns.

GST includes three kinds of returns which are GSTR1, GSTR2, and GSTR3.

Let me explain it briefly.

1. GSTR1:

GSTR1 is filed by seller In which he encloses all detail of sales. It includes B2B Invoices i.e. business to business invoice. So here we will put the detail of parties having a registration number (GSTIN) under GST. Another detail includes is B2C (Bussiness to a customer) small invoices-5A and B. Under this category, if it is an interstate sale to the unregisterd dealer, then the amount is up to Rs. 250000. There is no limit for sale to local unregistered person, even amount exceeds Rs. 250000.

After this, we are left with Interstate unregistered dealer whose amount exceeds Rs. 250000. This detail will be enclosed in b2c large invoices (5A and 5B). Also, we are required to show the detail of credit and debit notes of both registered and unregistered dealers. Then export invoices under 6A, adjustment of advance received and nil rated invoices.

1.1 GSTR1A:

After filing GSTR1, GSTR2 stores all details. Your buyer has the option to agree or disagree for detail. If he disagrees, and make any change, then it will appear in GSTR1A.

2. GSTR2:

This form gives the details of the inward supplies of good & services as authorized and confirmed by the recipient of the goods/services.

Filing Date: 15th of the month

2.1. GSTR2A:

This is a self-populated form, which enables the recipients to see & review the details filed by the supplier.

4. GSTR3B:

This is a consolidation of all GST returns which get populated by all above returns along with tax on inwards and outwards supplies by registered person. Under this, only system update all records. There is few option for any edit manually.

5. GSTR3A:

This is not a part of GST return, but still, as so many queries about this, GSTR3A is Tax authorities issue notice for not filing GSTR3, GSTR4, GSTR5, GSTR6,, GSTR7, GSTR8, GSTR9 and GSTR10.

GST return

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