GST Returns, Refunds, and Registrations

Returns And Refunds

• Types of Returns:
  • GSTR-1: Details of outward supplies
  • GSTR-2: Details of inward supplies
  • GSTR-3: Monthly return
  • GSTR-4: Composition scheme quarterly return
  • GSTR-5: Non-resident foreign taxable person return
  • GSTR-6: Input service distributor return
  • GSTR-7: Tax deduction at source (TDS) return
  • GSTR-8: E-commerce operator return
• Due Dates:
  • GSTR-1, 2, and 3: 10th, 15th, and 20th of the next month, respectively
  • GSTR-4: 18th of the next quarter
  • GSTR-5: 7th of the next month
  • GSTR-6: 13th of the next month
  • GSTR-7: 10th of the next month
  • GSTR-8: 10th of the next month
• Refund Process:
  • Claim refund within 2 years from the relevant date
  • Refund shall be granted within 60 days from the date of receipt of application
  • Interest @ 6% p.a. shall be paid if refund is not granted within 60 days

GST Rates

• GST Rates:
  • 0% ( Nil Rate )
  • 0.25% ( Lower Rate )
  • 3% ( Lower Rate )
  • 5% ( Lower Rate )
  • 12% ( Standard Rate )
  • 18% ( Standard Rate )
  • 28% ( Higher Rate )
• GST Rates for Specific Goods and Services:
  • Essential goods and services: 0% or lower rates
  • Luxury goods and services: higher rates (up to 28%)
  • Certain goods and services: special rates (e.g. gold and jewellery: 3%)

Registration And Filings

• Who Needs to Register:
  • Businesses with a turnover of ₹40 lakhs (₹20 lakhs for special category states)
  • Inter-state suppliers
  • E-commerce operators
  • TDS deductors
  • Input service distributors
  • Non-resident foreign taxable persons
• Registration Process:
  • Online registration on GST portal
  • Provisional ID and password shall be provided
  • Verification of registration within 3-5 working days
• Filing Requirements:
  • Every registered person shall file a return
  • Return filing is mandatory even if there are no transactions
  • Late filing fee: ₹25-₹50 per day, up to a maximum of ₹5,000