Understanding the GST Return Ecosystem
Every registered regular taxpayer must file periodic returns detailing outward supplies (sales), inward supplies (purchases), input tax credit, and tax liability paid.
GSTR-1: Return of Outward Supplies
GSTR-1 records all B2B and B2C sales invoices, debit notes, credit notes, and export invoices.
- Monthly Filers (Turnover > ₹5 Cr): Due on the 11th of the succeeding month.
- QRMP Filers (Turnover up to ₹5 Cr): Due on the 13th of the month following the quarter. Optional Invoice Furnishing Facility (IFF) available on the 13th of Month 1 and Month 2.
GSTR-3B: Summary Return & Tax Payment
GSTR-3B is a self-declared summary return where you offset output tax liability against eligible Input Tax Credit (ITC) from GSTR-2B and pay the balance in cash.
- Monthly Due Date: 20th of the succeeding month.
- QRMP Due Date: 22nd or 24th of the month following the quarter depending on the state category.
Late Fees & Interest Penalties
- Late Fee for Nil Return: ₹20 per day (₹10 CGST + ₹10 SGST), capped at ₹500.
- Late Fee for Taxable Return: ₹50 per day (₹25 CGST + ₹25 SGST), capped based on turnover slabs.
- Interest under Section 50: 18% per annum calculated on the net cash tax liability paid after due date.