Types of GST Returns:

GSTR-1: Monthly or quarterly return for outward supplies (sales) made by registered taxpayers.

GSTR-3B: Monthly summary return containing details of outward and inward supplies, input tax credit (ITC) claimed, and tax payable.

GSTR-4: Quarterly return filed by composition scheme taxpayers.

GSTR-9: Annual return reconciling the details provided in the monthly/quarterly returns for the financial year.

GSTR-9C: Reconciliation statement and certification of the annual return for taxpayers with aggregate turnover above a specified threshold.

Others: There are several other returns for specific types of transactions and taxpayers, such as GSTR-5 for non-resident taxpayers, GSTR-6 for input service distributors, etc.

Steps to File GST Returns:

1. Maintain Records: Keep detailed records of all sales, purchases, input tax credits, and other relevant transactions in your accounting system.

2. Verify Invoices: Ensure that invoices issued and received comply with GST invoicing requirements, including mandatory fields and proper tax rates.

3. Prepare Returns: Use accounting software or GST return filing software to prepare your GST returns based on the data maintained in your records.

4. Validate Data: Validate the data entered in the returns to ensure accuracy and correctness. Cross-check against your source documents to avoid errors.

5. File Returns Online: Log in to the GST portal (https://www.gst.gov.in/) using your GSTIN (Goods and Services Tax Identification Number) and password. Navigate to the “Returns” section and select the relevant return to file.

6. Upload Data: Upload the prepared return file (in JSON format) to the GST portal using the provided offline tool or directly from your accounting software.

7. Review and Submit: Review the return summary and verify the details before submitting. Once satisfied, submit the return electronically using digital signature (if applicable) or OTP authentication.

8. Payment of Tax: Pay any tax liability due after filing GSTR-3B through the GST portal using available payment modes such as internet banking, credit/debit card, NEFT/RTGS, etc.

Due Dates:

• Due dates for GST return filing vary depending on the type of return and the taxpayer’s turnover. Generally, GSTR-1 is due on the 11th of the following month, GSTR-3B is due on the 20th of the following month, and GSTR-9 is due on the 31st of December following the end of the financial year.
• Late filing of GST returns may attract penalties and interest charges, so it’s essential to file returns within the prescribed due dates to avoid any penalties.

Compliance:

• Ensure compliance with GST laws, rules, and regulations applicable to your business. Stay updated on changes in GST rates, compliance requirements, and filing procedures issued by the GST council and authorities.
• Seek assistance from tax professionals or GST consultants if you have complex transactions or need guidance on GST compliance and return filing.