What are the Types of GST Returns?

This article focuses largely on the types of GST returns you as a consumer of services and articles are liable to pay on the Indian subcontinent. We will learn briefly about the basic concept of GST, including where the tax is applied and where it is not. Then we will move to what are the categories of GST returns and how legal places can assist your filing of GST documents.

If we go by the simplest textbook definition of GST or Goods and Services Tax is an indirect tax that has to be paid by both Business holders and salaried households against the objects they purchase and the service they avail. There are three categories of GST that are levied on those services and objects. But, there are around 20 types of GST returns when going by the book.

Three Categories of Goods and Services Tax(GST)

GST is roughly separated into three main types, with a fourth one also garnering attention sometimes. These categories are as follows:

• Central Goods and Services Tax also called (CGST)
• State Goods and Services Tax also called (SGST)
• Integrated Goods and Services Tax is known as(IGST)
• The fourth category is known as UTGST or Union Territory Goods and Services Tax.

1. CGST: Central Good and Services Tax is a Center levied Tax on all the businesses and transactions that take place in a state. The CGST is not an exclusive Goods and Services tax as it is levied along with state or union GST. CGST had substituted all former taxes like CSD, state tax, SAD etc.
2. SGST: This is State Goods and Services Tax, levied by each state on all intra-state services. SGST has led to dispelling of all former state taxes like VAT, Luxury and entertainment tax, Octroi and even taxes on lottery tickets. A variant of the State Goods and Services Tax is the UTGST or Union Territory Goods and Services Tax. It is levied in all the Union Territories. 
3. IGST: Integrated Goods and Services Tax or IGST is a shared GST where both the Central and the State governments have a dividend. IGST can help save some tax. 

Advantages of the Goods and Services Tax

1. Helps with the Tax Effect.
2. Lesser Tax Compliance.
3. Easier for smaller businesses to form and thrive.
4. A greater threshold is made for business registrations. 
5. There is greater efficiency in the logistics

And many more.

What Are the Types of GST Returns?

This may be a sparse known fact, but there are around 20 types of GST returns, each designed for a particular type of business corporation. Each of these filings is done according to its own unique schedule and each has a different filing date. There are around 20 types of GST returns but only 11 of them are seen to be implemented. We will be going over those 11 divisions, also pointing out each’s return filing date.

1. GSTR 1:Details of outward sales are populated in the GSTR1 division. The business has to fill the form by the 11th of a month, to pay for the preceding month or by the 13th of your current month if paying for a quarter together. If not filled on time, fines are accumulated and are levied for the next immediate filing. 
2. GSTR 3B: The Input Tax credit and total outward and sales have to be clearly denoted. These are due to be filled every month. 
3. GSTR 4: This is to be filled on yearly basis by composition vendors. The due date is roughly around the 30th of April. 
4. GSTR 5: GSTR 5 deals with returns of any Non-Residing Indian who is doing business with Indian Citizens on Indian soil.  The return must contain details of all imports, sold services and amenities along with other taxpayer information. The filing is 20th of the current month and is done for the previous month. 
5. GSTR 6: This division pertains to the ISD or the Input Service distributor. In the invoice created for the return all the basic information of the taxpayer must be present along with various supply details of the parties from the 1st category of GSTR including the invoice and GSTIN of the receiving taxpayer. To be filed for the last month on every 13th of the current one.
6. GSTR 7: TDS or Tax Deducted at Store returns fall under this type of GST return filing.  Along with personal details and any penalty details, if occurred the filing has to be done for the last one month on the 10th of the current one. 
7. GSTR 8: GSTR8 is the return category for the E-commerce brands that have registered under GST laws. Basic information including biodata, the return details and basic information about the customers, tax amount etc. are to be shared. Filing is to be done on the 10th of a month and is done for the previous month.
8. GSTR 9A:  This is to be paid on the 31st of December in an annual fashion by all members under a composition scheme. 
9. GSTR 9B: Similar to 9A, this is also to be filled on an annual basis on the 31st Of December and is only for the individuals who work on behalf of an E-commerce firm to collect the tax money. 
10. GSTR 10: This one is a special case among all the types of  GST returns as this is regarded as the ultimate filing before the suspension or cancellation of GST registration. In this return all the basic data, the tax amount, both payable and collected and the part’s liabilities are disclosed. This has to be filed either before three months of registration cancellation or the date of the order of cancellation. 
11. GSTR 11: GSTR 11 is only to be filled as the individuals gifted with a Unique Identification Number or UIN. People with UIN numbers are usually dignitaries and delegates working with international bodies and residing on Indian soil. All of their tax work is done under this. The last date of filing should be no further than the 28th of that month provided it is the succeeding month when the statement was filled. 

A few other divisions 

Other than the major types of GST returns discussed, there are a few others like GSTR 3A which a tax defaulter gets issued by the authorities. There are also a few auto-drafted GSTs such as GSTR2A, 2B and 4a. Each of these is self-generated by the GST portal based on failure to provide entire information or due to some other factors. There are even new forms like GST ANX1 and GST ANX2 which are used by taxpayers with over 5 cr INR turnover. 

Conclusion

Taxation or no taxation, it is crucial to always clear any GST dues at the correct times. Any fail in doing so brings a hefty fine. If you, as a taxpaying business are bewildered about our discussion so far and need help to settle your GST returns: https://www.gst.gov.in/help/returns you can always resort to the leading online legal company, Vakilserach. We, at Vakilsearch at always present at your service. To know more, reach out to us using our official website.