Is GST Return Monthly or Quarterly?

Goods and Services Tax (GST) was introduced in India in July 2017 to simplify the tax system and eliminate the cascading effect of taxes. Under the GST regime, registered taxpayers are required to file periodic returns to the GST authorities. One of the common questions that arise among GST registrants is whether GST return is monthly or quarterly.

The answer is that it depends on the type of taxpayer and their annual turnover. Under the GST regime, there are three types of taxpayers - regular taxpayers, composition taxpayers, and input service distributors (ISD). Regular taxpayers are those whose annual turnover exceeds Rs. 1.5 crore, while composition taxpayers are those whose turnover is less than Rs. 1.5 crore. ISD refers to those taxpayers who distribute input tax credit (ITC) to other entities having the same PAN.

For regular taxpayers, the GST return filing is monthly, and they need to file three returns every month - GSTR-1, GSTR-2A, and GSTR-3B. GSTR-1 contains details of all outward supplies, GSTR-2A contains details of inward supplies, and GSTR-3B contains a summary of all transactions and tax liability. The due date for filing GSTR-1 is the 11th of every month, while GSTR-2A and GSTR-3B are due on the 15th and 20th of every month, respectively.

For composition taxpayers, the GST return filing is quarterly, and they need to file only one return every quarter - GSTR-4. GSTR-4 contains details of all outward supplies and tax liability. The due date for filing GSTR-4 is the 18th of the month following the end of the quarter.

For ISD, the GST return filing is also monthly, and they need to file one return every month - GSTR-6. GSTR-6 contains details of all ITC distributed and tax liability. The due date for filing GSTR-6 is the 13th of every month.

In conclusion, whether GST return filing is monthly or quarterly depends on the type of taxpayer and their annual turnover. Regular taxpayers need to file monthly returns, while composition taxpayers need to file quarterly returns. ISD also need to file monthly returns. It is important for GST registrants to comply with the GST return filing requirements to avoid penalties and interest.