The government announces GST return filing due dates from time to time to maintain taxation in line with respective clearance. Also, the main effort is to alert the taxpayers regarding the GST return filing due dates to make them neglect any penalty or interest.the GST due dates calendar of October 2024 for all the registered taxpayers under the indirect tax regime to make them aware of the time period of when to get their GST return filing done on time.
| GST Return Form Name | Filing Period | Due Date in October 2024 |
|---|---|---|
| GSTR 07 | Monthly (September 2024) | 10th October |
| GSTR 08 | Monthly (September 2024) | 10th October |
| GSTR 01 (T.O. more than 1.5 Crore) | Monthly (September 2024) | 11th October |
| GSTR 01 (T.O. upto 1.5 Crore) | Quarterly (July – September 2024) | 13th October |
| IFF Optional | Monthly (September 2024) | 13th October |
| GSTR 5 | Monthly (September 2024) | 13th October |
| GSTR 06 | Monthly (September 2024) | 13th October |
| CMP-08 | Quarterly (July – September 2024) | 18th October |
| GSTR 3B | Annual Turnover of more than INR 5cr in Previous FY Monthly Filing – September 2024 | 20th October |
| GSTR 3B Upto than INR 5cr (But Opted Monthly) | Annual Turnover of up to INR 5cr in Previous FY Monthly Filing – September 2024 | 20th October |
| GSTR 5A | Monthly (September 2024) | 20th October |
| GSTR 3B (G1) | Quarterly (July – September 2024) | 22nd October |
| GSTR 3B (G2) | Quarterly (July – September 2024) | 24th October |
| GSTR 9 & 9C | FY 2023-24 | 31st December 2024 |
| GST RFD-10 Form | End of 18 Months | Taxpayers will be eligible to claim the GST refund at the end of 18 months of the particular quarter |
Why Filing of GST returns is important?
The filing of GST Returns has manifold importance,such as
For Return Filer
- Necessary to adhere the legal compliances
- Helps in calculating the correct tax liability of self and others
- A tool for claiming ITC
For Government
- Source for collecting Financial Statistics of Organisations
- Scrutinize the relevant cases effectively and efficiently
- A basis for future policy making
- Helps in making the future compliance procedures
- Evasions can be better tracked
- Effective mode of procuring information from the taxpayers
Interest on Late GST Payment and Penalty on Missing GST Return Due Dates
The GST Council has decided to levy interest of 18 percent on the late payment of taxes under the GST regime. The interest would be levied for the days for which tax was not paid after the due date. You can read more details of the GST penalty provision in chapter 10, part 50 at this link https://cbec-gst.gov.in/CGST-bill-e.html
Let’s understand this by an example: If the total tax liability of a person is Rs. 1,000 and doesn’t pay tax continuously for a few days after the due date, then the interest amount will be calculated as 1000*18/100*1/365= Rs. 0.49 per day at approx. So, the person will have to pay this much interest each day after the due date.
In case if a taxpayer does not file his/her return within the due dates mentioned above, he shall have to pay a late fee of Rs. 50/day i.e. Rs. 25 per day in each CGST and SGST (in case of any tax liability) and Rs. 20/day i.e. Rs. 10/- day in each CGST and SGST (in case of Nil tax liability) subject to a maximum of Rs. 5000/-, from the due date to the date when GST forms, GSTR 1 GSTR 3B GSTR 4 GSTR 5 GSTR 6 GSTR 9 are actually filed.
FAQs
What are GST returns?
GST returns are official documents that include details of income, sales, expenses, and purchases that a registered taxpayer must file with the tax authorities. These returns help in determining the tax liability of the taxpayer under the Goods and Services Tax (GST) law.
What are the different types of GST returns?
- GSTR-1: Details of outward supplies (sales) of goods and services.
- GSTR-2A/2B: Auto-populated details of inward supplies (purchases) made.
- GSTR-3B: Summary return for the payment of tax.
- GSTR-4: For composition scheme taxpayers.
- GSTR-9: Annual return.
- GSTR-10: Final return when GST registration is cancelled.