GST Return Filing

GST Return Filing

GST Return Filing is a document which contains the details of sales, purchase, tax collected on sales and tax paid on purchases to be submitted to Income Tax Department.

Package inclusions:
  • Monthly tax calculation
  • ITC Reconciliation
  • Output Tax Reconciliation
  • Company data on cloud
  • GST return filing (Monthly/Quarterly/Annually)
GST Return Filing

Introduction to GST Return Filing

GST Return Filing is a mandatory compliance for every business that is registered under the GST Act/regime.

Under GST (Goods and Services tax), filing the GST returns is a crucial activity that works as a link between the government and the taxpayer.

While filing the return, the taxpayer has to provide the information such as the details of the business activity, payment of taxes, declaration of tax liability, and other information as required by the government.

GST returns are supposed to be filed electronically, i.e. on the GST portal. However, there’s a facility where one can also file GST returns manually.

Such returns are prepared offline and then uploaded to GSTIN portal either through the taxpayer or a facilitation centre.

Who all are required to file GST Returns?

Every GST registration holder who is taxable under the GST Act, 2017, are required to file GST returns as based on the nature of their business.

Therefore, whether you are engaged in the selling of goods or render services to others, you must obtain GST registration and file the returns periodically.

Under GST, a registered dealer involved in the following activities needs to file GST return:

  • Sales
  • Purchase
  • Output GST (on Sales)
  • ITC (Input Tax Credit) with GST paid on purchase.

Who doesn’t require filing GST Returns?

If you are GST registration holder but your business turnover is below the threshold limit of Rs. 40 lakh, then you don’t require filing GST returns.

However, for those in the North-Eastern and hilly regions with the turnover below Rs. 20 lakhs, do not need to file GST returns.

GST Return Filing Types in India

There are various types of GST returns in India. The number of returns required to be filed depend on the nature of taxpayer:

  • Returns to be filed by a Normal Taxpayer

    Returns

    Particular

    Due Date

    GSTR-1

    Particulars of Outward Supplies

    11th of the next month

    GSTR-2

    Particulars of Inward Supplies

    15th of the next month

    GSTR-3

    Monthly Return of tax payment

    20th of the next month

    GSTR-4

    Annual Return

    30th of the month succeeding financial year

  • Returns to be filed by a Composition Taxpayer

    Returns

    Particular

    Due date

    GSTR-4

    Quarterly return

    18th of month succeeding every quarter

    GSTR-9

    Annual return

    31st December of next financial year

  • Additional Returns based on the Nature of the Business

    Returns

    Particular

    Due date

    Filed by

    GSTR-5

    Particulars of Inward and Outward Supplies. Tax liability computation

    20thof the next month. For the last month either 20thof the next month or 7 days after expiration, whichever is earlier

    Non-Resident Taxable Person

    GSTR-6

    Distribution of Input Tax credit

    13thof next month

    Input Service Distributor

    GSTR-7

    TDS details or any related modifications

    10thof next month

    Authorities deducting tax at source

    GSTR-8

    Details of supplies effected through them.

    10thof the next month

    E-commerce Operator who collects tax at source

The above-stated returns are made compulsory by the Central Goods and Services Act (CGST) Act, 2017. However, the GST is altogether a new concept; therefore, it’s not that easy for the taxpayers to adjust the right way.

Hence, with a motto to make this transition to the new tax regime easy some relaxations have been introduced by the authorities.

Notifications issued by the GST Council in reference to the GST Return Filing

  • Filing of GSTR-2 and GSTR-3 are suspended until any further notice arrives on the same.
  • Only GSTR-1 needs to be filed.
  • GSTR-3B is supposed to be filed on the 20th of next month. Such returns contain the details of inwards as well as outward supplies, tax liability computation, and tax payment. It must be filed whenever there is any delay in filing of the regular returns.
  • All the registered taxpayers with the expected business turnover of Rs. 1.5 crores or less are given an option to file quarterly returns instead of monthly returns.

Checking Status of GST return filed

To check GST return status online, follow the steps mentioned below:

  • Visit the portal- https://www.gst.gov.in/
  • Provide the details on the login page.
  • Choose & click Service > Returns > Track Returns Status.
  • From the drop-down menu, select “Status of Return.”
  • Click Search button.
  • The status may show up as- to be filed / submitted but not filled / filed- valid / filed-invalid. 

Penalty for not Filing GST Returns on time

If GST returns aren’t filed within the prescribed time, then the taxpayers would have to pay interests as well as the late fee.

An interest of 18% per annum would be liable. The taxpayer can calculate the interest on the amount of outstanding tax to be paid. The time period must be from the next day of the return filing to the date of payment.

Late fee includes Rs. 100 per day per Act. Therefore, it is Rs. 100 under CGST & Rs. 100 under SGST (State Goods and Services Tax). In total, it amounts to Rs. 200 per day.

The maximum amount will result to Rs. 5000. However, there’s no late on the Integrated Goods and Services Act (IGST).

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Frequently Asked Questions

GST return can be filed online on the GST portal. Provide the necessary details and in case of any error you can correct it and refile the return. In case of not filing GST return on time, penalty may be levied along with interest.

All taxpayers with GST registration should file GST return on time and if there was no business activity or transaction in a month, the taxpayer will have to file nil GST return.

This can be done by subtracting comprehensive GST you paid on your purchases and expenses from the holistic GST you got from your sales and income.

The GSTR-1 return may be filed through the GST portal/GSTN. Every registered dealer must file GSTR-1 return for each month/quarter as applicable.

When the GST Annual Return Form (GSTR-9) is prepared then you may file the same by visiting the GST portal. It can be filed with DSC/EVC.

To file GSTR 3B, the registered person should login in to the GST common portal and under returns, select monthly return GSTR 3B. Provide all the necessary details and verify the return with EVC or DSC.

An individual who has been granted a Unique Identity Number (UIN) for the purpose of receiving a refund on his/her purchase in India needs to file GSTR 11. Only diplomatic bodies or foreign embassies holding UN can file GSTR 11.

For filing GST returns online, the person needs to first visit the GST portal. Secondly, you have to login using your username and password. Once the person has logged-in with his username and password, he can access his profile, and head to the ‘Services’ section and click on the ‘Return’ tab. On choosing the period of return filing, the applicant can view the various forms present and the due date for filing each return. Select on ‘Prepare Online’ to proceed with filing GST returns.

Yes, e-commerce operator needs to file GSTR-8 who collects tax at source. The main objective of filing GSTR-8 forms is to maintain a complete record of the transactions done on an e-commerce platform. GSTR-8 must be filed before the 10th of every month.

Any person who has surrendered his GST registration or it has been cancelled needs to file GSTR 10. It should be filed within three months of the date of surrender or cancellation of the license.

A person who is registered under GST as an input service distributor needs to file GSTR-6 return before 13th of every month.

  • First of all to file GST Return you need to have a GST number.
  • Login to the ‘GST portal’ using the GST registration number.
  • Click on the ‘Services’ button.
  • Click on Returns dashboard and then from the dropdown option fill in the financial year and the return filing period.
  • Now select the return you want to file and click on ‘prepare online’.

Yes, all assesses having GST registration should file GST returns on 10th, 15th and 20th of each month. In case, there was no business activity or transaction in any month, the taxpayer must still log in to the GST portal and file NIL GST return to avoid paying of penalty.

There are 22 types of GST Returns prescribed under the GST rules, but only 11 are active, 3 are suspended and 8 are view only in nature.

Under the GST regime, any regular business with more than 5 crore rupees as annual aggregate turnover must file two monthly returns and one annual return.

The number of GSTR filings may vary for quarterly GSTR-1 filers under the QRMP scheme. The number of GSTR filings online for them is 9 in a year, including the GSTR-3B and the annual return.

There are separate returns which has to be filed under special cases such as composition dealers whose number of GSTR filings are 5 in a year.

GSTR-2 is a monthly return which summarises the details of inward purchases of taxable goods and services or both. Every registered taxable person needs to give details of Inward Supply, i.e., purchases for a tax period in GSTR-2.

GSTR-1 is a sales return that must be filed by every GST registered person. Tax payers must enter details relevant to their sales and outward supplies in the GSTR 1 sales return.

Yes, there is late fee for Form GSTR 1. Late Fees for not filing GSTR-1 is Rs. 200 / day (Rs. 100 as per CGST Act and Rs. 100 as per SGST Act). The late fees will be charged from the date after the due date. As per the Latest Update: The late fees have been reduced to Rs. 50 per day and Rs 20 per day in case of nil return.

No, GSTR 1 needs to be filed before filing GSTR 3B. GSTR-1 and GSTR-3B are matched as the return-filing system is integrated and a mismatch between the same could result in improper disclosure in the annual return.

Small taxpayers with annual turnover up to Rs. 1.5 crore in the previous financial year can file GSTR 1 on a quarterly basis.

Taxpayers having an annual aggregate turnover up to Rs 1.5 crore in the previous financial year or anticipated in the current financial year can avail the option of filing quarterly returns.

Taxpayers having an annual aggregate turnover up to Rs 1.5 crore in the previous financial year or anticipated in the current financial year can avail the option of filing quarterly returns.

Taxpayers have the option to opt for either monthly or quarterly returns.

  • GSTR 3B-It is a monthly summary return filed by a taxpayer. GSTR-3B discloses all the supplies made during the month along with GST to be paid, input tax credit claimed, purchases on which reverse charge is applicable, etc., and also makes a provision for the payment of taxes, if any, for the relevant month.
  • GSTR 1- It is a monthly or quarterly return usually filed by taxpayers to disclose details of their outward supplies for the month, along with their tax liability.

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