All About GST Return For Taxpayers

Each and every business whether it be small or large has to get their online GST return filing done. These returns are filed to pay taxes as well as to provide data to the government relating to the transactions made by the business during the period under consideration. Every return Form has been designed to ensure a complete disclosure of transactions made between buyers and sellers. Once you file GST returns, you will need to pay the resulting tax liability to the government. You don’t have to file all the return forms. There are separate GST returns required to be filed in various cases depending on your work type which are discussed below –

Form Type

 Who should file?

GSTR-1

Every registered Individual or entity

GSTR-2A

View-only Autofill form

GSTR 2B

View-only

GSTR 3B

Regular taxpayer

GSTR-4

Composition dealer who has opted composition scheme

GSTR-5

Non-resident foreigners who have businesses in India

GSTR-5A

Non-resident OIDAR service providers

GSTR-6

Input Service Distributor (ISD)

GSTR-7

Individuals who need to deduct TDS under GST

GSTR-8

E-commerce operators

GSTR-9

Every registered taxpayer

GSTR 9C

Every registered taxpayer

GSTR-10

People whose registration has been canceled or surrendered
GSTR-11

By foreign diplomatic missions and embassies for refund claim

 

List of Documents Required while GST Return filing

↦ List of Invoices (B2B Services, B2C Services)
↦ Customer GSTIN
↦ Type of Invoice
↦ Invoice Number
↦ Place of Supply
↦ GST Rate
↦ Taxable Value
↦ Amount of CGST, SGST, IGST and GST Cess applicable.
↦ Consolidated intra-state and inter-state sales.
↦ HSN wise summary details.
↦ Summary of requisite documents i.e. Debit and Credit Note.

Online GST Return Filing Procedure

The process of online GST return filing requires a list of receipts, invoices, and bills to be kept handy as discussed above. Below we have explained the steps on how to file your online GST return-

Step 1 – Visit the portal, www.gst.gov.in.

Step 2 – Get access to your profile by entering your username and password.

Step 3 – Head to the “Services” section and click on the “Return” tab.

Step 4 – Fill in the financial year and the return filing period.

Step 5 – Select the return you want to file and then click “Prepare online”.’

Step 6 – Enter all the required fields and click on ‘save’. A success message will be displayed on your screen.

Step 7 – Now click on ‘submit’ at the bottom of the page to file the return. Once the status of your return changes to ‘submitted’, scroll down and click on the ‘payment of tax’ option. Mention the amount of credit you wish to use from the credit available.

Step 8 – Make your payment in the next step for respective GST

Conclusion

GST ensures more transparency due to its digital support available. From registration to return filing to cancellation of registration, everything can be done online now which minimizes paperwork for speedy administrative procedures, removing the need to make personal visits to the tax department thus making the process more hassle-free.