Topics In Demand
Notification
New

No notification found.

Blog
Returns to be filed under GST

June 14, 2017

GST

461

0

In this blog, we look at a query on the number and types of returns to be filed by a registered person.

 

Query:

What are the returns that a Company in the IT ITeS sector be required to file, in a financial year?

 

Response:

The following returns would be required to be filed by every registration (i.e., if operations in two States, by each of the two registrations):

  1. Form GSTR-1: Details of outward supplies (By 10th of every month, for the previous month) – 12 returns
  2. Form GSTR-2: Details of inward supplies (By 15th of every month, for the previous month, based on acceptance/ rejection/ modification/ deletion/ addition of entries to those auto-populated from the GSTR-1 of the various suppliers) – 12 returns
  3. Form GSTR-3: Return for the month (By 15th of every month, for the previous month, based on auto-populated details from furnished Form GSTR-1 & GSTR-2, and payment of taxes through electronic credit ledger or electronic cash ledger) – 12 returns
  4. Form GSTR-9: Annual return (By 31st December of the following financial year) along with audit accounts and a reconciliation statement between the details furnished in the returns and the figures ion the audited accounts (Annual return alone would suffice where the aggregate turnover in the year does not exceed Rs.2 Crore) – 1 return

Additionally, where applicable, the below returns would also have to be filed:

  1. Form GSTR-6: Return for distribution of credits by every registration as an Input Service Distributor (By 13th of every month, for the previous month, based on acceptance/ rejection/ modification/ deletion/ addition of entries to those auto-populated from the GSTR-1 of the various suppliers of service) – 12 returns
  2. Form GSTR-8: Only if the Company acts as an e-commerce operator for the supply of goods or services by other suppliers for tax collected at source (By 10th of every month, for the previous month) – 12 returns, if applicable 

 

Legislative reference: Section 37, 38, 39 and 44 read with Section 20 and 52 of the CGST Act, 2017

Authors: Meghana Belawadi and NR Badrinath

 

With GST set to be implemented, www.withdia.com brings to you collaborative wisdom on the GST law and potential impact areas for your business. To read more such curated content or to give us your valuable feedback head to our webpage www.withdia.com, or download our Android/iOS app on your phone and have all this knowledge accessible on the go!


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


© Copyright nasscom. All Rights Reserved.