One of the key aspects of the GST era is that most of the indirect taxes – for which returns had to be filed separately for various businesses, have been subsumed. Today, irrespective of whether one is a trader, manufacturer, reseller or service provider, one needs to file GST returns online, in the prescribed formats. More importantly, the monthly compliance activity has significantly gone up in the GST regime.
Under GST, there are 19 GST return forms, which tax payers can use to file GST returns online. All these forms are required to be e-filed as per the GST return filing process laid down in the GST return rules section of the GST Act. While most of them are monthly returns, there are quite a few which are quarterly and annually as well.
Under GST, every registered taxable person will need to file GST monthly returns – which are specifically via filing a set of GSTR (GST Returns ) forms. For a particular month, the GST monthly returns format will need to be adhered to, filed and submitted in the subsequent month. The following will help understand the GST monthly returns dates in a given month:
Monthly GST return must be filed by all taxpayer except for small taxpayers (Taxpayers having a turnover of less than Rs.5 crores), composition dealers, input service distributors, non-resident registered persons and person liable to deduct tax at source. Hence, any person having GST registration and a turnover of more than Rs.5 crores per annum would be required to file monthly GST return. The taxpayer would be able to determine if the account falls in the small category taxpayer by checking the GST portal. In case of a newly registered taxpayer, the account would be classified on the basis of self-declaration of the estimated turnover.