GST Return Filing
*Complete by: within 2 days
- includes 1 GSTR-3B or 1 GSTR-1 Return
What is GST return filing?
Companies registered under GST must submit GST return filling on a monthly, quarterly, or yearly schedule, based on their revenue and compliance classification. These returns should encompass specifics of sales, purchases, tax collected, and tax paid to guarantee precise tax reporting. The implementation of a comprehensive tax framework such as GST in India has enhanced taxpayer services, improving efficiency in registration, return filing, and compliance. Startup Portal Business Services helps companies navigate GST compliance smoothly, guaranteeing prompt and accurate filings.
Every taxpayer registered under GST is required to submit four key forms for filing GST returns, which include details on outward supplies, inward purchases, monthly tax summaries, and annual returns. Submitting GST returns is compulsory for every business holding a valid GST registration, irrespective of their sales, business operations, or profitability within the tax period. Even inactive businesses with valid GST registrations are required to adhere to return filing obligations. A GST return is an essential document that includes all income and expense information, required to be filed with tax authorities to guarantee adherence and prevent fines.
Taxable person under GST
A ‘taxable person’ under the GST Act is someone who conducts business in India and is registered or needs to be registered under the GST Act. A taxable person can be an individual, HUF, company, firm, LLP, an AOP/ BOI, any corporation or Government company, body corporate incorporated under the laws of a foreign country, co-operative societies, local authorities, governments, trusts, or artificial juridical persons.
Eligibility Criteria For GST Return Filling
Who should file the GST returns? GST Return filing in India is to be done by the following:
Online GST Return Filing Process
Filing your GST return online is simple and ensures compliance. First, ensure you have a valid 15-digit GSTIN (GST Identification Number) linked to your state code and PAN. If you don’t have one, register online to obtain it. Follow these 10 steps to complete your GST return filing effortlessly:
- Visit the GST Portal – Log in to the official GST portal.
- Go to ‘Services’ – Click on ‘Services’ and access the ‘Returns Dashboard.’
- Select the Return Period – Choose the relevant financial year and filing period.
- Prepare Your Return – Select the return type and click ‘Prepare Online.’
- Enter Details – Fill in the required information, including tax amounts and late fees.
- Save Your Progress – Click ‘Save’ to confirm your details.
- Submit Your Return – Click ‘Submit’ to proceed.
- Check Submission Status – Once marked ‘Submitted,’ go to ‘Payment of Tax.’
- Offset Liabilities – Review your cash/credit balance and adjust liabilities.
- Finalize & File – Sign using DSC or EVC, make the payment, and complete filing.
Following these steps ensures hassle-free GST return filing, keeping your business compliant and penalty-free!
How to Check GST Return Status Online
Easily track your GST return filing status using these methods:
- By ARN: Log in to the GST portal, go to ‘Track Return Status,’ enter your ARN, and click ‘Search.’
- By Filing Period: Select ‘Track Return Status’, choose the filing period, enter dates, and click ‘Search.’
- By GSTIN: Use ‘Search Taxpayer’, enter your GSTIN/UIN, solve the captcha, and view details.
Stay updated and ensure GST compliance effortlessly!
How to Download GST Returns Online
Downloading your GST returns online is quick and simple. Follow these steps to access and download your GST returns:
- Steps to Download GST Returns
- Log in to the GST Portal: Begin by logging into your account on the official GST portal.
- Navigate to ‘File GST Returns’: Click on the ‘File GST Returns’ option.
- Select the Filing Period: Choose the relevant period (year and month) and click on ‘Search.’
- Access GSTR-1: Click on ‘View GSTR-1.’
- Preview and Download: Select the ‘Preview’ option to view and download your GST return.
GST Late Filing Penalty: Key Details
Taxpayers who fail to file their GST returns on time are subject to late filing penalties. Here’s what you need to know:
- A late fee of Rs. 200 per day (Rs. 100 as CGST and Rs. 100 as SGST) applies, with a maximum cap of Rs. 5000.
- The penalty duration begins the day after the filing deadline and continues until the return is filed and payment is completed.
- Integrated Goods and Services Tax (IGST) does not incur a late fee. However, an additional 18% interest is charged on any outstanding IGST amount.
Note: The late fee rates may vary based on the latest GST regulations.
Due dates for filing the GST returns
What are the due dates for filing GST returns?
- GSTR 1: The 11th of Subsequent of that month
- GSTR 3B: The 20th of that subsequent month
- GSTR 08: 18th of the month succeeding the quarter of the specific fiscal year.
- GSTR 4: 18th of the month succeeding the quarter.
- GSTR 5: 20th of the subsequent month
- GSTR 6: 13th of the subsequent month
- GSTR 7: 10th of the subsequent month
- GSTR 8: 10th of the subsequent month
- GSTR 9: 31st December of the Fiscal year.
- GSTR 10: Within 3 months of the date of cancellation or the date of cancellation order whichever is earlier.
- GSTR 11: 28th of the month that is following the month for which the statement was filed.
Frequently Asked Questions(FAQ's):
GST returns detail a business's sales, purchases, tax collected, and tax paid, serving as a key tool for managing taxation and financial activities.
Businesses registered under the GST Act are required to file GST returns regularly. Filing ensures compliance with tax regulations and accurate reporting of sales, purchases, and tax liability.
GST returns can be filed monthly, quarterly, or annually, depending on the business type and income.
Form GSTR-9 is an annual return that must be filed once every financial year. It includes comprehensive details about purchases, sales, input tax credit, and other relevant transactions.