About GST Monthly Filing
A document which furnishes all the purchases, sales, tax paid on purchases, and tax collected on sales and other related details is called the GST Return. The GST Return is required to be filed with the tax authorities following which the taxpayer has to pay off the tax liability. There are various types of GST Returns varying from monthly to quarterly and further to annually depending upon various schemes and conditions. Let us further know about GST monthly return filing.
Types of monthly GST Returns
GSTR-1 It consists of details of outward supplies of goods and services. The due date for filing this is 11th of the following month.
GSTR-3B:
It is a simple return in which the summary of outward supplies along with Input Tax Credit is declared and payment of tax is affected by the taxpayer. The due date for filing this is 20th of the following month. Further the due date for filing would be 22nd or 24th* of the subsequent month (If Aggregate turnover is less than or equal to 5cr.). 22nd or 24th is based on the state of the taxpayer.
GSTR-5
It is a return for a non-resident foreign taxable person. The due date for filing this is 20th of the following month.
GSTR-6
It is a return for an input service distributor. The due date for filing this is 13th of the following month.
GSTR-7
It is a return for authorities deducting TDS. The due date for filing this is 10th of the following month.
GSTR-8
It consists of details of supplies effected through the e-commerce operator and the amount of tax collected. The due date for filing this is 10th of the following month.
GSTR-11
It consists of details of inward supplies to be furnished by a person having UIN and claiming a refund. The due date for filing this is 28th of the following month for which the statement is filed.
Eligibility for GST Return Filing
All the taxpayers registered under GST laws are required to file GSTR-monthly except the following: Taxpayers who have a Turnover up to Rs. 5 Crore in last financial year and have opted quarterly. - Composition Dealer - Input Service Distributor - Non- Resident Registered person - Person liable to deduct or collect tax under the CGST Act