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GST Return Table: An Easy-To-Understand Guide


GST Return

A GST return refers to a document that summarizes the details of a taxpayer’s sales, purchases, and tax liability under the Goods and Services Tax (GST) system. GST is a value-added tax levied on the supply of goods and services in many countries worldwide.

The GST return is typically filed periodically, monthly or quarterly, by registered businesses to report their taxable activities and fulfil their tax obligations. The return includes information such as total sales, output tax collected, input tax paid on purchases, and eligible input tax credits. It also requires taxpayers to provide details of any adjustments, corrections, or amendments to previous returns.

Importance of GST Return

SN# Basis Details
1 Avoidance of Penalties Non-compliance with GST return filing deadlines or providing incorrect information can result in penalties, interest, and other enforcement actions. Filing returns diligently helps businesses avoid such penalties and maintain good standing with the tax authorities.
2 Compliance Filing GST returns is a legal requirement for registered businesses under the Goods and Services Tax system. By submitting timely returns, businesses ensure compliance with tax regulations and avoid penalties or legal consequences.
3 Tax Assessment GST returns provide vital information to tax authorities for assessing a taxpayer’s liability. It helps authorities verify the accuracy of reported sales, purchases, and tax payments, ensuring that businesses are paying the correct amount of tax.
4 Input Tax Credit GST returns allow businesses to claim input tax credits on their purchases. By accurately reporting their input tax details, businesses can offset the tax paid on purchases against the tax collected on sales, reducing their overall tax liability.
5 Refunds If the input tax credit claimed exceeds the tax liability, businesses may be eligible for a refund. GST returns facilitate the process of claiming and receiving these refunds, ensuring businesses receive the right amount they are entitled to.
6 Transparency and Accountability GST returns promote transparency in business transactions and help establish accountability. By maintaining detailed records and filing returns, businesses provide a clear trail of their financial activities, enhancing trust between taxpayers and the tax authorities.
7 Audit and Dispute Resolution Timely and accurate filing of GST returns minimizes the chances of being selected for a tax audit. In case of any discrepancies or disputes, having properly filed returns serves as evidence to support a taxpayer’s position and can help in resolving the issue more efficiently.
8 Data for Policy Formulation Aggregated GST return data offers valuable insights into the economy, consumption patterns, and tax collections. It aids policymakers in making informed decisions, implementing effective tax reforms, and evaluating the overall health of the economy.
9 Seamless Input Supply By filing GST returns and reporting input tax credits accurately, businesses ensure a seamless flow of input supply. This enables suppliers to claim their own input tax credit and facilitates a smooth chain of tax credits throughout the supply chain.

GST Return Table

The GST return table is a structured format or template used for reporting various details related to sales, purchases, and tax liability under the Goods and Services Tax (GST) system. It typically consists of different sections or columns where taxpayers enter specific information, such as total sales, tax collected, input tax credit, and adjustments. The table provides a standardized framework to ensure consistent reporting and facilitate easy understanding and analysis of the taxpayer’s financial transactions. It serves as a crucial tool for tax authorities to assess compliance, calculate tax liabilities, and reconcile information provided by the taxpayer with their records.

How to read the GST Return Table

To read a GST return table, follow these steps:

SN# Basis Details
Understand the column headings. Each column represents specific information such as invoice number, tax rate, taxable value, tax collected, input tax credit, etc.
      2. Fill in the details Locate the relevant rows and enter the corresponding data for each column based on your business transactions.
      3. Identify the sections The table is usually divided into sales, purchases, and tax liability sections.
      4. Calculate totals Sum up the values in the respective columns to get the total sales, tax collected, input tax credit, etc.
      5. Reading Reading the GST return table helps you understand your tax liability, input tax credit, and overall financial position under the GST system.
      6. Review and verify Double-check the entries for accuracy and ensure they align with your records.

Components of the GST Return Table

The components of a GST return table typically include the following:

  • GSTIN: Goods and Services Tax Identification Number, a unique identifier assigned to each registered taxpayer.
  • Period: The specific time period covered by the return, such as monthly, quarterly, or annually.
  • Sales: This section includes details of the taxpayer’s sales transactions, such as invoice numbers, customer details, taxable value, and tax collected.
  • Purchases: Information related to the taxpayer’s purchases, including invoice numbers, supplier details, taxable value, and input tax credit claimed.
  • Adjustments: This section accounts for any adjustments, corrections, or amendments to previous returns.
  • Tax Liability: It summarizes the total tax liability of the taxpayer, including the tax payable and any interest or penalties.
  • Input Tax Credit: This component captures the input tax credit claimed on purchases, which can be offset against the tax liability.
  • The specific components and format of the GST return table may vary based on the country’s GST regulations and reporting requirements.

Filing GST Return

How to file GST Return?

To file a GST return, follow these steps:

  1. Ensure registration: Register for GST and obtain a Goods and Services Tax Identification Number (GSTIN).
  2. Collect necessary information: Gather all relevant sales and purchases and input tax credit details.
  3. Choose the filing period: Determine the filing frequency (monthly, quarterly, or annually) based on your turnover and the regulations of the tax authority.
  4. Access the GST portal: Log in to the official GST portal provided by the tax authority.
  5. Fill out the return form: Enter the required information accurately into the designated sections of the GST return form.
  6. Validate and submit: Validate the form to check for errors, make corrections if needed, and submit the return electronically on the portal.
  7. Payment: If there is a tax liability, pay through the designated online payment modes.
  8. Acknowledgement: After successful submission, download the acknowledgement or receipt of filing as proof.

Remember to file the GST return within the specified due date to avoid penalties or compliance issues.

GST Return Filing Frequency

The filing frequency for GST returns typically depends on the turnover of the taxpayer and the regulations set by the tax authority. It can vary from monthly to quarterly or annually. Small businesses with lower turnovers often have the option to file returns every quarter, while larger businesses may be required to file monthly returns.

GST Return Filing Deadline

The GST return filing deadline varies depending on the country and the filing frequency (monthly, quarterly, or annually). Generally, the tax authority sets the deadline and falls towards the end of the following month or quarter. It is crucial to adhere to the prescribed deadline to avoid penalties or late filing fees. Taxpayers should consult their local tax authority’s specific regulations and guidelines for accurate filing deadlines.

Common Errors in GST Returns

While filing GST returns, some common mistakes to avoid include:

  1. Incorrect invoice details: Providing inaccurate or incomplete information, such as invoice numbers, customer/supplier details, or tax amounts.
  2. Input tax credit errors: Failing to claim the input tax credit on eligible purchases correctly or claiming credit for ineligible items.
  3. Calculation errors: Making mistakes in calculating taxable value, tax liability, or input tax credit amounts.
  4. Failure to report all transactions: Omitting or forgetting to include certain sales or purchases in return, leading to underreporting.
  5. Late filing: Missing the filing deadline and submitting the return after the due date, resulting in penalties or late fees.
  6. Lack of reconciliation: Neglecting to reconcile the data in return with the books of accounts or other financial records.

Consequences of Wrong GST Return Filing

Filing a wrong GST return can lead to various consequences, including:

  1. Penalties and fines: Tax authorities may impose penalties and fines for incorrect or late filings.
  2. Interest charges: Interest may be charged on the outstanding tax liability resulting from the wrong filing.
  3. Loss of input tax credit: Incorrect filings can lead to the denial or reduction of the input tax credit, resulting in increased tax liability.
  4. Audit and scrutiny: Wrong filings may trigger tax audits and increased scrutiny by tax authorities, leading to additional compliance burdens and potential disputes.


Filing GST returns accurately and on time is crucial to ensure compliance with tax regulations, avoid penalties, maintain credibility, and facilitate seamless business operations under the Goods and Services Tax system.

Kanakkupillai, a professional services provider, can assist in filing GST returns online by offering expert guidance and support. 

We can help businesses: 

  • gather the necessary information, 
  • navigate the GST filing process
  • ensure accurate calculations, and 
  • meet the filing deadlines, reducing the risk of errors and compliance issues.

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