GST Online Return Form Details:
GST Online Return Form GSTR-1 to GSTR-8
As the GST Bill is likely to come into action by the next year, Modi government is taking necessary steps to make sure that the GST regime works fine.
The Government is likely to introduce eight return forms namely GSTR-1 to GSTR-8 that will be required to file the GST Tax returns in India. These forms will be collectively used to take the assesses details and offer multiple options to file online return.
As per Section 2 return means any return prescribed or otherwise required to be furnished by or under this Act or rules made thereunder.

GST Online Return Form GSTR-1 to GSTR-8

• This is a sales register of goods and services, here we can enter the details data of of sales . If a persons sells his goods and services to a register person within the state in that case he is liable to charge CGST and SGST on the transaction. At the same point of time if the person sells his goods and services to other state he is liable for IGST charge on him.
• Here of each transaction it is important to classify the goods or services with his SAC or HSN code because these codes will identify the nature of the transaction.

1. HSN code (4 digits) for goods and accounting code for services will be mandatory initially for all taxpayers with turnover in the preceding financial year above INR 5 crores.
2. HSN codes (8 digits) and accounting codes for services will be mandatory in case of exports and imports.

• All inter-state B2C supplies invoice level details to be uploaded for invoices whose value is more than INR 2,50,000. For invoices below this value, state-wise summary of supply statement shall be filed.

Inward Supplies: GSTR- 2

• This is a comprehensive purchase register. Here we can enter the data of both purchase of service and goods.
• In GSTR-2 the data of the goods purchase from register dealer including debit/credit note will automatically populated as the respective dealers upload there sales register on due date. Due to this we can match our purchases against the sales register and the impact of this in current scenario where tax credit mismatch is hard to match and a time taking process, in GST there we will check our data as per seller return so mismatch issue resolve will solve easily
• As well as here we will amend our purchase bill too as we received in earlier periods
• Here a separate details information will be required for input service distributors
• Separate table for submitting details in relation to ITC received on an invoice on which partial credit has been availed earlier.
• Separate table for ISD credit and TDS credit received by taxpayer.
• Due date of filling the return is 15th of the next month. But we can upload our data on daily, fortnight, weekly too. Soon the last date of return filing the workload should be lesser than before

Monthly Return Form: GSTR-3

• It would capture the aggregate level outward and inward supply information which will be auto populated through GSTR-1 and GSTR-2.
• Information about ITC ledger, cash ledger and liability ledger would be updated in real time on an activity in connection with these ledgers by the taxpayer.
• Details of payment of tax under various tax heads of CGST, SGST, IGST and Additional tax separately would be populated from the debit entry in credit/cash ledger. GST law may have provision for maintaining 4 head-wise account for CGST, SGST, IGST and Additional tax and at associated minor heads for interest, penalty, fee etc.
• Taxpayer will have the option of claiming refund of excess payment through the return for which appropriate field will be provided in the return form.
• Details of ITC balance (CGST, SGST and IGST) at the end of the tax period will be auto-populated in the ITC ledger irrespective of mode of filing return.
• The return would have a field to enable the taxpayer to claim the refund or to carry forward the ITC balance (CGST, SGST and IGST). GST law may provide that the refund will be processed quarterly.
• It will be auto-populated through GSTR- 1 (of suppliers), own GSTR-2, ISD return, TDS return of deductor, own ITC ledger, own cash ledger and own tax liability ledger.
• Now the time taking process of return filling is over now. In GST return maximum data of this return is auto populated from purchase and sales registers. Only adjustment entries and challan information will enter after these entries
• Here cash ledger (tax deposit in cash and TDS/ TCS) will made separately for CGST , SGST and IGST

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Quarterly return for compounding dealers: GSTR-4

• This return is a quarterly return filled by the compounding dealer (as per draft GST law the assesses whose turnover is less than Rs. 50 lacs and there is no interstate transaction ) is liable to file return with in 18 days from end of such quarter
• In this return, data will be automatically populated after filing of GSTR-1

Return file by the Non-Resident:GSTR-5

• This will be a monthly return filed by the non resident within 18th day after end of the month and within the 7 days after expiry of registration
• In this return HSN/SAC code should be mention because these are classify the transaction as a sales and purchase of goods and services

Return for Input Service Distributor: GSTR-6

• Every Input Service Distributor shall, for every calendar month or part thereof,furnish a return, electronically, in such form and in such manner as may be prescribed,within thirteen days after the end of such month.
• In this return form input service distribution ledger will be maintained. In this ledger credit of CGST, SGST, IGST will maintain separately of each tax amount

TDS Return: GSTR-7

• Tax deductor will be liable to file this TDS return within the 10 days after end of the month
• This return form is almost similar to TDS return of income tax (26Q/24Q etc) as in this return deductee information and transaction information is mention with the related challan in which the TDS amount is paid to department

Annual Return: GSTR-8

• This return form will be filed electronically on or before 31st day of December following the end of such financial year
• In this return the total annual returns information will be matched by the department with the monthly /quarterly return filled by the assesse
• In this return auditors information will submitted
• In this return all the transaction will bifurcated within goods and services. This bifurcation should be match with the HSN/SAC code given by the assessee in his monthly/ quarterly return

First Return : Section 27A
(1) Every registered taxable person paying tax under the provisions of section 7 shall furnish the first return containing the details of:
(a) outward supplies under section 25 from the date on which he became liable to registration till the end of the month in which the registration has been granted;
(b) inward supplies under section 26 from the effective date of registration till the end of the month in which the registration has been granted:
Provided that a registered taxable person paying tax under the provisions of section 8 shall furnish the first return for the period starting from the date on which he becomes a registered taxable person till the end of the quarter in which the registration has been granted.
(2) Provisions of section 25, 26 and 27, other than the provision pertaining to tax period, shall apply mutatis mutandis to the said person furnishing return under sub section (1).
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GST Online Return Form GSTR-1 to GSTR-8