GST Registration is applicable to all goods and services except Petroleum products as of now. Goods & Service Tax (GST) is a consolidated tax, which essentially means that State and Central Indirect taxes have been merged. The entire country now operates under a uniform tax system. GST is one single tax removing service tax, excise, VAT, entertainment tax, luxury tax, octroi, CST, etc.
Just have a glance at the detailed guide about GST. Under GST, SGST- It stands for the State GST, which is collected by the State Government. CGST- It stands for the Central GST, which is collected by the Central Government. IGST- It stands for the Integrated GST, which is collected by the Central Government
GST return is a format where a taxpayer gets registered under the Goods and Services Tax. GST has to file for each registration separately. Also, the numbers of GST returns will be dependent on the type of taxpayer, such as regular taxpayer, composition dealer, e-commerce operator, TDS deductor, non-resident taxpayer, Input Service Distributor(ISD), etc. Usually, a normal taxpayer has to file two returns per month (GSTR-1, GSTR-3B) and an annual return (GSTR-9/9C) for each GST registration separately.
GSTR-1 is the liability of all taxpayers who get registered under GST. It is to be filed monthly, except for the small taxpayers with turnover up to Rs.1.5 crore in the previous financial year, who can file the same quarterly.
GSTR-2 is also the responsibility of all taxpayers registered under GST. However, the filing of the same has been suspended ever since the inception of GST.
GSTR 2A is a purchase-related tax return that automatically gets generated for each business by the GST portal When a seller files his GSTR-1. It takes the information of goods and services that have been purchased in a given month from the seller’s GSTR-1.
GSTR-3 is also the responsibility of all taxpayers registered under GST. However, the filing of the same has been suspended ever since the inception of GST.
GSTR-3B is the liability of all taxpayers registered under GST.
GSTR-4 is the liability of only those taxpayers who have opted for the Composition Scheme under GST. CMP-08 is the return that has replaced the now erstwhile GSTR-4. The CMP-08 return is to be filed quarterly.
GSTR-5 is the responsibility of non-resident foreign taxpayers who are registered under GST and carry out business transactions in India. The GSTR-5 return is to be filed monthly for each month that the taxpayer is registered under GST in India.
GSTR-6 is a monthly return to be filed by an Input Service Distributor (ISD).
GSTR-7 is a monthly return to be filed by persons required to deduct TDS (Tax deducted at source) under GST
GSTR-8 is a monthly return to be filed by e-commerce operators registered under the GST, who are required to collect tax at source (TCS).
GSTR-9 is the annual return to be filed by taxpayers registered under GST.
*As per the CBIC notification 47/2019, the annual return under GST for taxpayers having an aggregate turnover that does not exceed Rs.2 crore has been made optional for FY 2017-18 and FY 2018-19.GSTR-9A is the annual return to be filed by taxpayers who have registered under the Composition Scheme in a financial year*
*Waived Off for the F.Y. 2017-18 and 2018-19.GSTR-9C is the reconciliation statement filed by all taxpayers registered under GST whose turnover exceeds Rs.2 crore in a financial year.
GSTR-10 is to be filed by a taxable person whose registered has been canceled or surrendered.
GSTR-11 is the return to be filed by persons who have a Unique Identity Number (UIN) to get a refund under GST for the goods and services purchased by them in India.
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