GST Returns and their format

GSTR-1 and GSTR-2 are two monthly statements done by all normal registered taxpayers. These returns have
certain formats and have to filed monthly. Filing GST returns while registered for GST is crucial.
Not complying or delays in filing will result in penalties and affect your compliance rating
and timely refunds.

What is a GST Return?

A GST return is a document that contains details related to the income of registered taxpayers that has to be filed by said taxpayer to the tax administrative authorities. The authorities calculate tax liability based on these reports.

In GST there are couple of GST Return forms that a registered dealer has to file:

  • Sales return (GSTR 1)

  • Purchases return (GSTR 2)

  • Output GST (on sales - GSTR 3)

  • Input tax credit (GST paid on purchases)

Who has to file the GST Returns?

All GST registered dealers have to file three monthly returns and one annual return. The GST system has been built so that you only have to manually enter or upload details of one monthly return, the GSTR-1 (your sales return). The other two returns, GSTR 2 (purchases return) and GSTR 3 (output GST on sales) get auto-populated with data from the GSTR-1 you and your vendors filed.

Some dealers who have registered under the composition scheme, have to file separate returns at different times, more on this later in the article.

What type of GST Returns does a business have to file?

For registered dealers that pay GST these are the required forms:


Details of outward supplies of taxable goods and/or services (sales details) effected.


10th of Next month
*10th of Oct for July *For August & September 2017 dates will be announced by government


Details of inward supplies of taxable goods and/or services (purchases details) effected claiming input tax credit.


15th of Next month
*31st Oct for July *For August & September 2017 dates will be announced by government


Return populated based on finalization of details of outward and inward supplies along with the payment of the tax amount.


12th of Next month
10th of Nov for July *For August & September 2017 dates will be announced by government


Annual Return


31st December of next financial year


Return on monthly provisions that needs to be filed by 20th of next month.

Has to be filed from July 2017 to March 2018.

As per the last meeting of the GST Council the following decision were taken:


Quarterly Returns Filing (For taxpayers with Annual Turnover upto Rs. 1.5 Crore, who opt for quarterly returns)


Due date:

July - September

10th of January 2018

October - December

15th Feb 2018

January - March

30th April 2018

For Taxpayers with Annual turnover of more than Rs 1.5 cr and Taxpayers with Annual turnover of upto Rs 1.5 cr who opt for monthly return filing:


Due Dates

July - Nov

10th January 2018


10th Feb 2018


10th March 2018


10th April 2018


10th May 2018

For dealers who fall under the composition scheme the following returns need to be filed:


Return for compounding taxable person


18th of the month succeeding the quarter
*For July & September 2017 due date is 15th November 2017.


Annual Return


15th of Next month
31st of December of next financial year

GST Explained

GST, short for Goods and Services tax, is a new tax that will be imposed on the sale and purchase of goods and services in India. GST is meant to replace all taxes in India with a single unified tax applied to value addition instead of the total value of the product at each stage in the supply chain.

This method provides credit for the input tax paid on the purchase of goods and services, which can be offset with the tax to be paid on the supply of goods and services. As a result, this reduces the overall manufacturing cost, with the end customer paying less.

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With certain current taxes remaining, the following goods and services will be fully or partially exempted from the GST

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Free movement of goods: Business owners will be able to sell more in other states without having to worry about interstate transaction costs. With GST, the entry tax will be eliminated, which will save time and money spent.

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Currently, there are many indirect taxes that both the state and central governments are collecting on every purchase and sale.

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The GST will follow a similar model with the one before it

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GST will have a 4-tier tax structure

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One of the main reasons for GST being introduced in India is the tax burden that falls both on companies and consumers. With the current tax system, there are multiple taxes added at each stage of the supply chain, without taking credit for taxes paid at previous stages. As a result, the end cost of the product does not clearly show the actual cost of the product and how much tax was applied. This cascading structure is too complex and inefficient.

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For inter-state transactions, the Centre will levy Integrated GST (IGST), which is equal to the average of the CGST and SGST rates. After applying IGST, CGST and SGST credits received from purchases, the seller will then pay the remaining IGST on the added value.

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Businesses with turnover revenue of 20 lakhs and above will have to register and file for GST returns, with a threshold of 10 lakhs for businesses in the north east and hill states.

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A combination of CGST and SGST will be applied to the import of goods and services that come to India. Tax benefits and credits will be given to the state where the imported goods and services are consumed.

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