GST Return Filing

GST Return Filing

Filing GST Return document is a crucial compliance requirement under GST law. All registered businesses under GST need to file GST Return Filing monthly, quarterly and annually as per the business. Which return is to be filed or when such return should be filed can be a query for taxpayers, however if you employ Enterslice as your service provider, we will help you through the complete GSTR filing process.

Package inclusions:
  • Monthly tax calculation;
  • GST Advisory;
  • ITC Reconciliation;
  • Output Tax Reconciliation;
  • GST return filing (Monthly/Quarterly/Annually);
  • Liaising with the GST Department.
GST Return Filing

GST Return Filing- Overview

GST Return refers to a document that comprises of taxpayer’s income/sales/and/or expense/purchase details which a taxpayer must file with the GST department. This GST Return helps the tax department to calculate the net tax liability of such taxpayer. Under GST a registered dealer needs to file returns that include purchases, Sales, Output GST (on sales and ITC (GST paid on purchases).

GST Return Filing is a mandatory requirement/compliance for every business registered under the GST Act/regime. Under GST (Goods and Services tax), filing the GST returns is a necessary activity that needs to be undertaken as a link between the government and the taxpayer.

GST returns should be filed electronically, i.e. on the GST portal.  If the return is not filed within the prescribed due date then it shall attract penal provisions like late fees along with interest.

Who should File GST Return?

Just as earning individuals file income-tax returns (ITR), all business owners, dealers, traders and taxpayers registered under the GST system need to file GST returns wherein business information such as purchases, sales, tax collected, tax paid etc. are included. This procedure is carried out by filing GST return periodically by using appropriate GST return forms.

All registered businesses under GST must file monthly, quarterly, and/or annual GST Returns based on the type of business. Taxpayers running their firms and business in and across India, whether it is interstate or intrastate, must mandatorily file GST returns as prescribed by the GST council and indirect tax department.

Who should file which GST Return has been specified in the table made below:

GSTR Form

Who files?

GSTR-1

A registered taxable person

GSTR-2

A registered taxable person

GSTR-3

A registered taxable person

GSTR-3B

A registered taxable person

CMP-08

Taxpayers registered as composition taxable person or taxpayer who have opted for composition levy

GSTR-4

Taxpayers registered under the composition scheme

GSTR-5

Non-resident foreign taxable person

GSTR-6

 

Input Service Distributor

GSTR-7

Filed by those who need to deduct TDS under GST

GSTR-8

Filed by e-commerce operators

GSTR-9

Taxpayers registered under GST

GSTR-9C

Taxpayers registered under GST

GSTR-10

 

Taxpayer whose GST registration has been cancelled

GSTR-11

 

Taxpayer having UIN and claiming refund

Different types of GST Return Filing in India

There are various types of GST returns in India. The number of returns required to be filed depends on the type of taxpayer’s business activity. An exhaustive list of different types of GST returns in India along with its frequency of filing and the due date have been given in the table made below:

GSTR FORM

DESCRIPTION OF THE FORM

FREQUENCY OF FILING

DUE DATE

GSTR-1

Details of outward supplies of taxable goods and/or services effected.

Monthly

11th of the next month

GSTR-2

Details of inward supplies of taxable goods and/or services effected claiming the ITC.

Monthly

15th of the next month

GSTR-3

Return based on the finalisation of details of outward supplies & inward supplies along with the payment of tax.

Monthly

20th of the next month

GSTR-3B

Summary of outward supplies along with ITC is declared and payment of tax is effected by the taxpayer.

Monthly

20th of the next month

Quarterly

22nd or 24th of the month next to the quarter

CMP-08

Summary of self-assessed tax payable for a given quarter by taxpayers registered as composition taxable person or a taxpayer who has opted for composition levy.

Quarterly

8th of the month succeeding the quarter

GSTR-4

Return for those taxpayers who are registered under the composition scheme under Section 10 of the CGST Act.

Annually

30th of the month succeeding financial year.

GSTR-5

GST Return for a non-resident foreign taxable person.

Monthly

20th of the next month

GSTR-6

 

Return for input service distributor to distribute the eligible input tax credit to its branches.

Monthly

13th of the next month

GSTR-7

Return for authorities doing tax deduction at source.

Monthly

10th of the next month

GSTR-8

Supplies effected by e-commerce operators and the amount of tax collected at source by them.

Monthly

10th of the next month

GSTR-9

Annual return for a normal taxpayer.

Annually

31st Dec of next financial year.

GSTR-9C

Certified reconciliation statement

Annually

31st Dec of next financial year.

GSTR-10

Final return filed by a taxpayer whose GST registration has been cancelled.

After the GST registration is cancelled

Within 3 months of the date of GST cancellation or date of cancellation order, whichever is later.

GSTR-11

Inward supplies details to be furnished by a taxpayer having UIN and claiming refund

Monthly

28th of the month after the month for which statement is filed.

How to file a GST Return?

The following procedure can be followed to file a GST Return:

  • Firstly you need to visit the GST portal- gst.gov.in;
  • Ensure that you have kept ready GST compliant sales and purchase invoices while filing the GSTR;
  • Login to the GST portal with valid credentials;
  • Once you are logged in, click on the services and choose returns;
  • A page will appear- “File Returns”. Select the financial year and the filing period for which you need to file return and click on search;
  • After that you will obtain a 15 digit identification number based on your state code and PAN;
  • Upload invoices and an invoice reference number would be issued against each invoice;
  • Choose the return that you need to file and click on prepare online;
  • Provide details as asked including the amount an late fee, in case it is applicable;
  • Once all details have been filled in, click on save and a success message will be flashed on your screen;
  • Click on submit to file the return;
  • Once the status of your submitted GSTR changes to submitted, move ahead for payment by clicking on the payment of tax;
  • Select check balance to see cash and credit balance to know these details before paying tax;
  • In order to clear your liabilities, specify the amount of credit that you want to use from the credit available. Click on offset liability in order to make the payment;
  • Click on “Ok” when a confirmation is displayed;
  • Tick the box against the declaration and select an authorised signatory from the drop down list. Now click on the option- file form with DSC or file form with EVC and then click on proceed;
  • Make payment for your respective GST form.

Downloading GST Return

One can download their GST Return directly from the GST portal. Follow the steps that are mentioned below to download the GSTR:

  • Login to the GST portal by keying in your valid credentials;
  • Click on the services tab from the menu;
  • Choose returns dashboard under the returns option;
  • Select the financial year and the GST Return Filing period from the drop down boxes;
  • Click on the search button and select the return that you want to download;
  • Select the download option and click on generate file;
  • The generation of file will take some time, be patient;
  • When the file is generated, a download link will be made available. Download the zip file containing your GSTR.

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 fee on the Integrated Goods and Services Act (IGST).

Frequently Asked Questions

GST stands for Goods and Services Tax. It was introduced in 2017 as an indirect tax reform which replaced various types of indirect taxes applicable.

GSTR stands for Goods & Services Tax Return which is an official document that includes all purchases, sales, tax paid on purchases, & tax collected on sales-related information.

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.

Steps to file GST return:

  • 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.

Just as earning individuals file income-tax returns (ITR), all business owners, dealers, traders and taxpayers registered under the GST system need to file GST returns wherein business information such as purchases, sales, tax collected, tax paid etc. are included. This procedure is carried out by filing GST return periodically by using appropriate GST return forms.

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

GSTR 3B AND GSTR 1:

  • 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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