What is GST monthly filing?

In the new system of GST return filing, a taxpayer needs to file form GST RET-1 (Normal) or Form GST RET-2 (Sahaj) or Form GST RET-3 (Sugam) on either a monthly or quarterly basis. A taxpayer with a turnover of up to Rs 5 crores can file GST returns on a quarterly basis.

Who needs to do GST monthly filing?

1. GST monthly filing is done by all the registered taxpayers under GST laws. 

2. There are certain exceptions to this which are as follows:

• Small taxpayers  

• Composition dealer

• Input service distributor 

• Non-resident registered person

• A person who is liable to deduct or collect tax under the CGST Act

3. The due date for filing will be the 20th of next month.

What is the process of monthly GST filing?

• Firstly you need to visit the GST portal (www.gst.gov.in).

• A 15-digit GST identification number will be issued to you on the basis of your state code and PAN number.

• Now, upload your invoices on the GST portal or the software, and an invoice reference number against each invoice will be issued.

• The next step is to file outward return, inward return, and cumulative monthly returns online. If any errors occur, you have the option to correct it and refile the returns.

• In the GSTR-1 file, the outward supply returns form through the information section at the GST Common Portal (GSTN) on or before 10th of the following month.

• Now supplier needs to furnish details of outward supplies and will be made available in GSTR-2A to the recipient.

• The recipient has to verify, validate, and modify the details of outward supplies, and also file details of credit or debit notes.

• The recipient has to furnish the details of inward supplies of taxable goods and services in GSTR-2 form.

• The supplier can either accept or reject the modifications of the details of inward supplies made available by the recipient in GSTR-1A.

What are the types of monthly GST return?

GSTR 1

A registered taxable supplier must file a GSTR-1 form describing outward supplies of goods and services. The provider fills out this form. The buyer must review the auto-populated purchase information on the form and make any necessary changes. The following information will be included on the form:

• Business name, filing period, and GSTIN (Goods and Services Taxpayer Identification Number) (GSTIN).

• Invoices from the prior month and the taxes collected.

• Advances on a supply order that must be delivered in the coming years.

• Outgoing sales invoices from prior tax periods have been revised.

• The GSTR-1 form must be submitted by the 10th of next month.

GSTR 2

A registered taxable recipient must file a GSTR-2 form detailing the inward supply of goods and services. The following information will be included on the form:

• Business name, filing period, and GSTIN (Goods and Services Taxpayer Identification Number) (GSTIN).

• Invoices from the prior month and the taxes collected.

• Advances on a supply order that must be delivered in the coming years.

• Outgoing sales invoices from prior tax periods have been revised.

The GSTR-2 form must be submitted by the 15th of the following month.

GSTR-3

A registered taxpayer must file a GSTR-3 form with information that is automatically supplied from the GSTR-1 and GSTR-2 returns forms. The taxpayer must validate the information and, if necessary, make changes. The following information will be included on the GSTR-3 return form:

• Information about the Input Tax Credit, the liabilities, and the cash ledger.

• Details of CGST, SGST, and IGST paid.

• Request a refund of the excess payment or a credit to be carried forward.

The GSTR-3 form must be submitted by the 20th of the next month.

GSTR-5

All non-resident taxpayers are required to file the GSTR-5 form. The following information will be included on this form:

• Taxpayer's name and address, GSTIN, and return period

• Outward and inward supplies are mentioned.

• Details about imported items, and any changes in commodities imported during past tax periods.

• Services import and modifications to services import

• Credit or debit notes, closing stock of items, and refund claims from the cash ledger are all specified.

The GSTR-5 form must be submitted by the 20th of the next month.

GSTR-6

All taxpayers who are registered as Input Service Distributors must file the GSTR-6 form. The following information will be included on this form:

• Taxpayer's name and address, GSTIN, and return period

• Information about input credit distributed.

• Supplies received from the registered person.

• The amount of input credit that has been claimed for the current tax year.

• The GSTR-1 and GSTR-5 return forms will be auto-populated with information of incoming supply.

• Details about the GSTIN of the person who received input credit.

• Credit or debit note information.

• Input tax credit received, the credit returned, and the input tax credit distributed as SGST, CGST, and IGST.

The GSTR-6 form must be submitted by the 13th of the next month.

GSTR-7

All registered taxpayers who are required to deduct tax at source under the GST system must file the GSTR-7 form. The following information will be included on this form:

• Taxpayer's name and address, GSTIN, and return period

• TDS information and changes to invoice amounts, TDS amounts, or contact information.

• TDS liability will be filled in automatically. Fees for late filing of returns and interest on late TDS payments are mentioned.

• The refund from the Electronic Cash Ledger will be automatically filled in.

• The GSTR-7 form must be submitted by the 10th of the next month.

GSTR-8

All e-commerce firms who are obligated to collect tax at source under the GST law must file the GSTR-8 form. This form will include information on the supplies made and the tax collected under Subsection (1) of Section 43C of the Model GST Law. Other information includes:

• Taxpayer's name and address, GSTIN, and return period

• Details about supply made to a taxable person who is registered, and any amendments.

• Information of supplies given to unregistered individuals.

• Information about Tax Collected at Source

• TDS liability will be filled automatically. Fees for late filing of returns and interest on late TDS payments are mentioned.

The GSTR-8 form must be submitted by the 10th of the next month.

GSTR-11

Everyone who has been given a Unique Identity Number (UIN) and claims a refund of taxes paid on inbound supply must fill out the GSTR-11 form. The following information is included on this form:

• Name of the government entity, UIN, and return period

• All inward purchases from GST-registered suppliers will be automatically filled in.

• The tax refund will be issued based on the information provided above. The GSTR-11 form is due on the 28th of the month following the month in which the supply was received..