Every registered dealer will need to file GST returns within the stipulated tax period. The timeline for filing and type of form needed will vary with the category of the dealer and its legal status. However, certain salient features of GSTR will apply across the board:
- Filing online is encouraged. However, offline submission is possible as well
- Returns for CGST, SGST, IGST, and other taxes will be filed jointly.
- Any correction, addition, or deletion must be submitted via subsequent returns. Unlike under the current regime, GST does not have a provision for revised returns.
GST returns: the process
There are approximately 11 types of GST returns forms along with a subset of forms dealing with changes. The following is a brief overview of the forms related to the general filing process.
Every registered taxpayer must furnish outward supply details monthly by submitting Form GSTR-1 by the 10th of the subsequent month. The period between the 11th and the 15th of the subsequent month allows for any corrections through Form GSTR-2A, which must be submitted by the 15th of the following month. To put that into perspective, every month taxpayers have a narrow window of roughly six days to submit and verify multiple GSTR forms – quite the burden, particularly with a manual compliance process.
On the 20th of the subsequent month, the auto-populated Form GSTR-3 will be available for submission along with the payment. Afterward, the inward supplies will be cross-verified with the outward supplies furnished by the supplier for final acceptance of Input
Tax Credit through Form GST ITC-1. Any excess or duplicated claims would be addressed through Form GST ITC-1 as well.
Outward Suppliers made by the Tax Payer
The above procedure only deals with the monthly return. Different but similar GSTR forms would need to be filed on both a quarterly and an annual basis, depending on the legal status of the taxpayer as per GST law. Here are some screenshots of GSTR forms showing the various information taxpayers must supply (and how complex it will be):