GST Compliance

Every entity/person registered under GST will have to file returns in government prescribed format. A NIL return has to be filed even if NO purchase-sale activities have been carried out during the return period.

A registered person will have to file returns either monthly (normal supplier) or quarterly basis (Supplier opting for composition scheme). Every registered person, other than an Input Service Distributor or non-resident taxable person or a person paying tax under the provisions of section 10, section 51 or section 52 shall, for every calendar month or part thereof, furnish, in such form and manner as may be prescribed by government, a return, electronically, of inward and outward supplies of goods or services or both, input tax credit availed, tax payable, tax paid and such other particulars as may be prescribed by government, on or before the twentieth day of month succeeding such calendar month or part thereof.

A normal registered taxpayer has to file the outward supply details in GSTR-1 in relation to various types of supplies made in a month, namely outward supplies to registered persons, outward supplies to unregistered persons (consumers), details of Credit/Debit Notes, zero rated, exempted and non-GST supplies, exports, and advances received in relation to future supply.

Here is a list of all the returns to be filed as prescribed under the GST Law along with the due dates.

3.1. Any regular business:

As per the CGST Act ( Note:- subject to change by Notifications/Orders)

Return Form	Particulars	Interval	Due Date
GSTR-1	Details of outward supplies of taxable goods and/or services affected from July 2018 to March 2019 ( Taxpayers whose turnover is more than Rs. 1.5 Crores in previous year)	Monthly*	11th of the next month**
GSTR-2	Details of inward supplies of taxable goods and/or services effected claiming input tax credit.	Monthly*	15th of the next month
GSTR-3	Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of amount of tax.	Monthly*	20th of the next month
GSTR-9	Annual Return	Annually	31st December of next financial year
GSTR-3B	Return for the months of up to March 2019	Monthly	20TH of the next month

** Details of outward supplies of taxable goods and/or services affected till June 2018 will be 10th of the next month.

** Taxpayers whose turnover was less than Rs. 1.5 Crores in the previous financial year has the option to file a quarterly GSTR-1 by end of the next month affected July 2018 to March 2019.

3.2. A Dealer opting for composition scheme

A composition dealer will enjoy the benefits of lesser returns & compliance along with payment of taxes at nominal rates. A composition dealer will file only 2 returns:

Return Form	Particulars	Interval	Due Date
GSTR-4	Return for compounding taxable person	Quarterly	18th of the month succeeding quarter**
GSTR-9A	Annual Return	Monthly	31ST December of next financial year

3.3. Returns to be filed by certain specific registered dealers:

A composition dealer will enjoy the benefits of lesser returns & compliance along with payment of taxes at nominal rates. A composition dealer will file only 2 returns:

Return Form	Particulars	Interval	Due Date
GSTR-5	Return for Non-Resident Foreign taxable person	Monthly	20th of the next month***
GSTR-5A	Return for Non-resident persons providing OIDAR services	Monthly	20th of the next month***
GSTR-6	Return for Input Service Distributor	Monthly	13th of the next month***
GSTR-7	Return for authorities deducting tax at source.	Monthly	10th of the next month
GSTR-8	Details of supplies effected through e-commerce operator and the amount of tax collected	Monthly	10th of the next month
GSTR-11	Details of inward supplies to be furnished by a person having UIN and claiming refund	Monthly	28th of the month following the month for which statement is filed

If GST Returns are not filed within time, you will be liable to pay interest and a late fee. Interest is 18% per annum. It has to be calculated by the taxpayer on the amount of outstanding tax to be paid. The time period will be from the next day of filing to the date of payment.

Late fee is Rs. 100 per day per Act. So it is 100 under CGST & 100 under SGST. Total will be Rs. 200/day. Maximum is Rs. 5,000. There is no late fee on IGST.

In addition, the GST Council reduced the fees for filing GSTR-3B and GSTR-4 returns after their due dates to:

• Rs. 50 per day of delay in normal cases (so it is 50 under CGST and 50 under SGST subject to maximum Rs.5000.)
• Rs. 20 per day of delay for taxpayers having nil tax liability for the month (so it is 20 under CGST and 20 under SGST subject to maximum Rs.5000.)

No scanned copy of invoices is to be uploaded. Only certain prescribed fields of information from invoices need to be uploaded.

No. It depends on whether B2B or B2C plus whether Intra- state or Inter-state supplies. For B2B supplies, all invoices, whether Intra-state or Interstate supplies, will have to be uploaded. Why So? Because ITC will be taken by the recipients, invoice matching is required to be done. In B2C supplies, uploading in general may not be required as the buyer will not be taking ITC. However still in order to implement the destination based principle, invoices of value more than Rs.2.5 lacs in inter-state B2C supplies will have to be uploaded. For inter-state invoices below Rs. 2.5 lacs and all intra-state invoices, state wise summary will be sufficient.

No. Annual Return has to be filed by every registered person paying tax as a normal taxpayer. Final Return has to be filed only by those registered persons who have applied for cancellation of registration. The Final return has to be filed within three months of the date of cancellation or the date of cancellation order.