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A Brief On Returns Under GST (GSTR)

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GST everywhere!!

With less than a week after GST came into effect in India, dealers are anxious about registration and compliances under the new law. Worry not, let us have a quick peek at the Registration and Returns filing aspect under GST.

Who Should Register For GST?

Every person making taxable supplies of goods and/or service is liable to be registered under GST if his aggregate turnover exceeds Rs. 20 lakhs in a financial year. For further details, please do refer our article GST Registration In India: Who, How And Why?.

The aggregate turnover is considered as “Rs 10 lakhs” for the Special Category States of Arunachal Pradesh, Assam, Himachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, and Uttarakhand.

Returns Under GST

Under GST, 19 forms are available for e-filing for various user categories. However, let us take a look at the basic GST Returns forms in India – 

Form Due Date Frequency Furnish details of Not applicable to
GSTR-1 10th of the following month Monthly Outward supplies of goods and/or services
  • Non-resident taxable person
  • Input Service Distributor
  • Person under composition scheme
GSTR-2 15th of the following month Monthly Inward supplies of goods and/or services to avail input tax credit
  • Non-resident taxable person
  • Input Service Distributor
  • Person under composition scheme
GSTR-3 20th of the following month Monthly Finalisation of Outward and inward supplies, input tax credit availed, etc with payment of tax.
GSTR-9 31st December of the next fiscal Annually Annual return containing consolidated details of monthly returns & tax paid details

Composition Scheme

Businesses dealing in goods can opt for composition scheme. Among service providers, only ‘restaurant sector taxpayers’ can avail this scheme. In both cases, the annual turnover should not exceed Rs 50 lakhs.

Persons registered under composition scheme have to file GSTR-4 on the 18th of the month following the quarter. The Annual Return (GSTR-9A), containing consolidated details of quarterly returns and tax paid details, is to be filed by 31st December of the next fiscal.

The introduction of GST will lead to a uniform taxation system across states. Many other countries have successfully implemented GST and proved that it is the way forward.

Convergence and Compliance is the key to GST implementation!

Post Implementation

  1. A press note has been released by the CBEC to provide relaxation in filing of returns for the first 2 months of GST implementation. Therefore, the tax would be payable based on a simple return (GSTR-3B) containing details of outward and inward supplies. Further, no late fees and penalties would be levied for this interim period.
Interim Period GSTR-1 GSTR-2 GSTR-3B
July 2017 File within 5th September instead of 10th August File within 10th September instead of 15th August File within 20th August
August 2017 File within 20th September instead of 10th September File within 25th September instead of 15th September File within 20th September
  1. Fresh GST registration has started from 25th June 2017. Users can access to create their login ID’s and obtain their GST Identification Number (GSTIN).

Your GST Enabler! is a legal service provider that provides legal services online and on time. With the advent of GST, we are ready to enable applicants for GST with digital signature services, documentation services, agreements, affidavits, etc. to enable a smooth registration for GST. With everything at the click of a button away, you can register and get your GST Registration Certificate without having to leave your home or office.

06 Jul, 17

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