GST Return Filing - Taxcharcha

Goods and Services Tax has been introduced from 1^st July 2017 in which mostly all the Indirect taxes have been subsumed and there is One Nation One Tax in the entire country. With the Goods and Services Tax, now the suppliers can comply with the requirement at a single platform regarding the return filings.

Types of GST Returns and their due dates

GST Return	Particulars	Due date
GSTR 1	Detail of Outward supplies	For Monthly Returns – 11^th of the following month For Quarterly Returns – 31^st of the following quarter
GSTR 3B	Summary of Outward and Inward supplies	In a stagerred manner – 20^th, 22^nd, 24^th of the following month
GSTR 4	Annual return by Composition Taxpayer	15^th of the July of the following year
CMP – 08	Quarterly summary of the Composition supplier	7^th of the following quarter
GSTR 5	Return by Non-resident Foreign Taxpayer	20^th of the following month
GSTR 6	Monthly return by Input Service Distributor	13^th of the following month
GSTR 7	Monthly return by Tax deductor	10^th of the following month
GSTR 8	Monthly Return by E-commerce operator	10^th of the following month
GSTR 9	GST Annual Return for Normal taxpayer	31^st December of the following financial year
GSTR 9A	GST Annual Return for Composition Taxpayer	31^st December of the following financial year
GSTR 9C	GST Audit	31^st December of the following financial year

GST Return Filing

Benefits of Goods and Services Tax

Easier Compliance

Before the GST era, if the supplier had to supply the goods to another state, then they had to collect the C forms and others forms according to the respective state tax laws for the Tax assessment purpose. Now, in the GST era there is no such requirement for the same. Now the Invoice and E-way bill is the self-explanatory document for the transaction being done by the suppliers.

Easy flow of ITC credit

With the onset of GST, the credit is to be passed to the purchaser of the other state through the filing of the return of the outward supplies on the GST portal. And the same can be checked by the Recipient on their online portal.