The GSTR forms are the monthly return form that must be submitted to the GST Portal by every registered non-resident taxable person. Non-resident taxable individuals are suppliers who do not have a business presence in India and have come to make supplies for a brief length of time. Keep reading the blog to learn more.
Types of GST Forms in India
GSTR- 6
The Goods and Services Tax Return 6 is a monthly document/statement that firms. They are also Input Service Distributors that must file. This return must include information about inward supplies received/purchases. This purchase was made from other registered taxpayers (B2B) as well as information. Moreover, the information is about input tax credits dispersed among the organization’s branches.
GSTR- 7
GSTR 7 is a record or statement produced by taxpayers who deduct tax from payments made to vendors/suppliers for inward supplies received. This return must include the specifics of the transactions where TDS was deducted, as well as the complete list of your suppliers.
GSTR- 8
GSTR 8 is a monthly statement that e-commerce firms must file. It must include information about supplies made to customers through the taxpayer’s e-commerce site by both registered taxable persons and unregistered individuals, basic information about the customers, the amount of tax collected at source (TCS), tax payable, and tax paid.
GSTR- 9
All GST-registered taxpayers are required to complete an annual return in a specific format. This form is known as the GSTR 9. GSTR-9 contains information regarding supplies made and received during the fiscal year under several tax heads, such as CGST, SGST, and IGST. Moreover, it compiles the information provided in the monthly/quarterly returns for the given year. The tax agency has always strictly enforced non-compliance with the law, and GSTR 9 is no exception. Non-filing GSTR 9 or filing it beyond the due date might result in significant penalties for the taxpayer.
GSTR- 9A
GSTR-9A is a simplified yearly return filed by business owners who have chosen the GST composition scheme. This return incorporates all quarterly returns filed by compounding dealers during the fiscal year.
GSTR- 9B
GSTR-9B is one of the GST forms that is a summary of the information reported in GSTR-8 by taxpayers registered as GST E-commerce operators.
GSTR- 9C
GSTR 9C is a statement of reconciliation between the figures in the taxpayer’s audited annual financial statements and the figures in the annual returns submitted in GSTR 9 for a fiscal year. GSTR-9C is a return form that registered taxpayers must file if their total revenue exceeds Rs.2 crores. In this scenario, the taxpayer must also provide a copy of the audited annual accounts as well as reconciliation documents reconciling the value of supplies reported in the return filed for the fiscal year.
Who is required to file GSTR 9C?
- Registered taxpayers with a combined annual turnover of more than Rs.2 crores.
- Individuals who are obligated to have their accounts audited under Section 35 of the CGST Act
GSTR- 10
GSTR 10 is not the same as the Annual GST Return. It is only filed once, as the final GST return. If a registered taxpayer chooses to discontinue their GST registration, they must file this return within three months of the cancellation date or the day the cancellation order was issued.
GSTR- 11
The Goods and Services Tax Return 11 is a document/statement that must be filed by every registered organization/person who is assigned a Unique Identification Number (UIN) solely during the months in which they acquire things for their own consumption while simultaneously receiving tax credit/refund.
Final Thoughts
To summarize, We hope you find this article useful and know some knowledge about GST forms. Tax HelpDesk is your one-stop solution to all your Income Tax and GST-related issues. Its GST Consultation Services makes filing and choosing the correct GST Forms a very simple process.
