Goods and Services Tax (GST) returns are filed by businesses and individuals to report their taxable transactions and to pay the applicable GST to the government. The types of GST returns can vary by country, and they may also be subject to change over time. Please note that the details may have changed since then, so it's essential to refer to the latest regulations and guidelines. Here are some of the common types of GST returns in India:
GSTR-1: This return is used to report outward supplies of goods and services. Registered taxpayers must file GSTR-1 monthly or quarterly, depending on their turnover.
GSTR-3B: This is a simplified return form used to declare summary details of outward and inward supplies, along with the tax liability. It's usually filed monthly.
GSTR-2A: This is an auto-generated return that provides details of inward supplies as reported by the counterparty.
GSTR-2B: Similar to GSTR-2A, GSTR-2B is an auto-generated return that provides a summary of input tax credit (ITC) available based on the invoices uploaded by the supplier.
GSTR-3: This return was originally intended to be a combination of GSTR-1 and GSTR-2. However, it was suspended, and businesses are not required to file it at the moment.
GSTR-4: This return is for composition scheme taxpayers, who are small businesses with a turnover below a specified threshold. They must file this return quarterly.
GSTR-5: This return is for non-resident taxable persons and must be filed monthly.
GSTR-6: This return is for Input Service Distributors (ISDs) and must be filed monthly.
GSTR-7: This return is for taxpayers who are required to deduct tax at source (TDS) and must be filed monthly.
GSTR-8: This return is for e-commerce operators who are required to collect tax at source (TCS) and must be filed monthly.
GSTR-9: This is an annual return that provides a comprehensive summary of a taxpayer's financial transactions for the entire financial year.
GSTR-9C: This is a reconciliation statement and certification of the annual return. It must be filed by taxpayers whose annual turnover exceeds a specified threshold.
Please note that the GST return forms and requirements may change over time, so it's crucial to consult with the latest GST guidelines and regulations provided by the tax authorities.