Difference between GST Challan and GST Return
| GST Challan | GST Return |
| It is a one page form used to pay tax | It contains details of tax paid (more than one page) |
| It is done first | It is done later |
|
Challan is deposited with Bank along with cash/cheque/net banking (either offline or online) |
Return is deposited with concerned Tax Dept. (either offline or online) |
|
It is to be filed only if there is tax payable (not in cas of GST Credit) |
It is to be filed in case of both GST Payable and GST Credit |
| No need to pay this in case of Nil Return | It is to be deposited in case of Nil Return also |
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Difference between GST Challan and GST Return
|
NORMAL DEALER |
COMPOSITION DEALER |
|
They calculate GST Payable by deducting OUTPUT GST -INPUT GST |
They calculate GST Payable by Paying OUTPUT GST At lower rate (No Input taken) |
|
They file Monthly Returns(GSTR3B, GSTR1, 2,3 ) + Annual Returns (12*2 +1=25 Returns in One Year) |
They file Quarterly Return annually (GSTR4) + Annual Return ( 1*4 1+1 = 5 2 Returns in One Year) and pay tax quarterly |
|
They can make Interstate Sales as well as local Sales |
They cannot make Interstate Sales. They can only sell within state |
|
Higher Rate of tax is applicable (5%,12%,18%,28%) |
Rates of tax are lower For Traders 1% For Manufacturers 2% 1% from 1 jan 2018 For Restaurants 5% For Other Services N/A 6% from 1 April 2019 |
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It is applicable for large assesses having turnover > 75 1.5 CRORE If turnover less than 1.5 crores,still Normal scheme can be chosen |
It is applicable for small assesses having turnover upto 75 1.5 CRORE in Previous Year |
Returns to be filed by Normal Dealer
GSTR 1
- It contains details of All types of Sales
-
It is normally to be filed by 10th of next month
GSTR2
- It contains details of Purchase(both Normal Charge and Reverse Charge)
- It is normally to be filed by 15th of next month
- Currently this return is not filed
GSTR 3
- It contains details of Payable and Credit
- It is normally to be filed by 20th of next month
- Currently this return is not filed
GSTR3B
- Since Gst was new and people were not aware how to file normal returns,GSTR1,2,3,governemnt has till March introduced simple returns called GSTR3B
- It contains only total figures of sales and purchase
-
It is also normally to be filed by 20th of next month
Changes In GST (37th GST Council meeting held in Goa)
GSTR 3B & GSTR 1 are to be filed till 31 March 2020.
After that new returns Sahaj Sugam etc . will be applicable
Annual Return
- It is to be filed after end of year when books of accounts )Profit and loss/Balance sheet) are finalized
- It is to be filed by 31 December of next year.
- For financial year 2017-18 it is to be filed by 31 December 2018 30 November 2019 3 1 December 2019
Changes In GST (37th GST Council meeting held in Goa)
Annual return GSTR 9 is to be made optional, if turnover upto 2 Crore for F.Y. 2017-18 & 2018-19.
However, if turnover more than 2 crore then both GSTR 9 and GSTR 9C is to be filed
New returns system now to be introduced from April 2020.
New returns system now to be introduced from April 2020, earlier proposed from October 2019.
GSTR 3B & GSTR 1 extended to be till 31 March 2020.
Currently return system GSTR 3B & GSTR 1 filing to be extended till 31 March 2020.
AADHAR may be mandatory for GST registration & claiming refund.
AADHAR mandatory for registration of taxpayer under GST and it may become mandatory for claiming refunds.
Whether these Return is to be filed Quarterly or Monthly?
Monthly for Large Tax payers
-
If turnover last year was more than 1.5 crore or in current year is likely to exceed 1.5 crore it is monthly
Optional(Monthly/Quarterly) for Small Tax Payers
- If turnover last year was upto 1.5 crore or in current year is likely to be upto 1.5 crore it is monthly
Note:- These are only for GSTR 1,2,3
- GSTR 3B is to be filed monthly only
- Also GSTR 1 was monthly for all tax payers as the amendment came later
Returns for Composition Dealer
Returns for Composition Dealer
- These Dealers do not get any input
- They pay tax directly on their sales
Return to be filed
- They have to file Quarterly Return annually GSTR 4
- (No need to file normal returns GSTR1,2,3,3B)
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Payment of tax to be done quarterly (CMP-08)
They also would have to file Quarterly Return annually and challan quaterly
