GST Return
GST RETURN FILING: ABOUT: The GST Return is the document, that contains information regarding all income, sell, purchase, and expenses about the taxable entity registered under GST Scheme. This GST Return has to file by the taxable entity to GST Authorities on a prefixed time basis. The GST Return includes broadly the following entries: Sales Purchase OutPut GST (on Sales) Input Tax Credit (GST Paid On Purchase). Eligibility for GST Return: An individual/legal entity whose annual turn-over is beyond 20 lakhs, need to obtain GST Registration and have to file GST Return mandatorily. An individual/legal entity having GST Registration has to file compulsorily GST Return. In some states, the Annual turn-over limit for GST registration is 10 lakhs. Classification of GST Returns & Their Due Dates:
| Return Form | Description | Frequency | Due Dateturnover | ||
| GSTR-1 | Details of outward supplies of taxable goods and/or services affected. | Monthly | 11th* of the next month with effect from October 2018 until September 2020. *Previously, the due date was the 10th of the next month. | ||
| Quarterly (If opted under the QRMP scheme) | 13th of the month succeeding the quarter. Was the end of the month succeeding the quarter until December 2020) | ||||
| GSTR-2 (Suspended from September 2017 onwards) | Details of inward supplies of taxable goods and/or services effected claiming the input tax credit. | Monthly | 15th of the next month. | ||
| GSTR-3 (Suspended from September 2017 onwards) | Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of tax. | Monthly | 20th of the next month. | ||
| GSTR-3B | Simple return in which summary of outward supplies along with input tax credit is declared and payment of tax is affected by the taxpayer. | Monthly | 20th of the next month from the month of January 2021 onwards^ Staggered^^ from the month of January 2020 onwards up to December 2020.* *Previously 20th of the next month for all taxpayers. | ||
| Quarterly | 22nd or 24th of the month next to the quarter*** | ||||
| ^20th of next month for taxpayers with an aggregate turnover in the previous financial year more than Rs 5 crore or otherwise eligible but still opting out of the QRMP scheme. ^^ 1. 20th of next month for taxpayers with an aggregate turnover in the previous financial year of more than Rs 5 crore. 2. For the taxpayers with aggregate turnover equal to or below Rs 5 crore, 22nd of next month for taxpayers in category A states/UTs and 24th of next month for taxpayers in category B states/UTs ***For the taxpayers with aggregate turnover equal to or below Rs 5 crore, eligible and remain opted into the QRMP scheme, 22nd of the month next to the quarter for taxpayers in category A states/UTs and 24th of the month next to the quarter for taxpayers in category B states/UTs · Category A: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman, and the Nicobar Islands and Lakshadweep. · Category B: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union Territories of Jammu and Kashmir, Ladakh, Chandigarh, and New Delhi. | |||||
| CMP-08 | Statement-cum-challan to make a tax payment by a taxpayer registered under the composition scheme under section 10 of the CGST Act (supplier of goods) and CGST (Rate) notification no. 02/2019 dated 7th March 2020 (Supplier of services) | Quarterly | 18th of the month succeeding the quarter. | ||
| GSTR-4 | Return for a taxpayer registered under the composition scheme under section 10 of the CGST Act (supplier of goods) and CGST (Rate) notification no. 02/2019 dated 7th March 2020 (Supplier of services). | Annually | 30th of the month succeeding a financial year. | ||
| GSTR-5 | Return for a non-resident foreign taxable person. | Monthly | 20th of the next month. | ||
| GSTR-6 | Return for an input service distributor to distribute the eligible input tax credit to its branches. | Monthly | 13th of the next month. | ||
| GSTR-7 | Return for government authorities deducting tax at source (TDS). | Monthly | 10th of the next month. | ||
| GSTR-8 | Details of supplies effected through 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 December of next financial year. | ||
| GSTR-9A (SUSPENDED) | Annual return optional for filing by a taxpayer registered under the composition levy anytime during the year. | Annually until FY 2017-18 and FY 2018-19 | 31st December of next financial year, only up to FY 2018-19. | ||
| GSTR-9C | Certified reconciliation statement | Annually | 31st December of next financial year. | ||
| GSTR-10 | Final return to be filed by a taxpayer whose GST registration is canceled. | Once, when GST registration is canceled or surrendered. | Within three months of the date of cancellation or date of cancellation order, whichever is later. | ||
| GSTR-11 | Details of inward supplies to be furnished by a person having UIN and claiming a refund | Monthly | 28th of the month following the month for which statement is filed. | ||
* Subject to changes by Notifications/ Orders ** Statement of self-assessed tax by composition dealers – same as the erstwhile form GSTR-4, which is now made an annual return with effect from FY 2019-2020 onwards. Various Penalty on default of GST Returns:
Late filing
Late filing of the GST returns can attract a penalty called a late fee. And according to the Goods and Service Tax can attract a penalty which is Rs. 100 under CGST and Rs.100 under SGST that accounts for Rs.200 a day. With the late fee, an interest of 18% has to be paid per annum. It is calculated on the tax to be paid.
Non-compliance
In case if the taxpayer is not filing the GST returns then the subsequent returns cannot be filed. Hence, to avoid heavy fines and penalties it is better to file the GST returns on time as it will lead to a cascading effect.
## There may be complex things that occur during the registration process which is a time-consuming and lengthy process. The legal language of these forms is complex in nature. The government Portal and its functionality are in itself quite challenging. The support of professionals and experts can save your precious business time. Our team of LAW COMPLIANCES, having expertise in all such kinds of matters, will resolve all problems pertaining to registration & compliances and will save your precious time and Money.
Working Process:
>Choose your Plan and Pay Securely.
> Upload required document
> An expert will be assigned to you for the procedure of submission of the application.
> Our Expert will complete the process required for your work along with the necessary assistance over a call during business hours.
BASIC PLAN: Assistance in GST Return Filing for 3 months. GST Return Filing for 3 months, Service Fees: 3999/- excluding government Fees.
STANDARD PLAN: Assistance in GST Return Filing for 6 months. GST Return Filing for 6 months, Service Fees: 5999/- excluding government Fees.
ACE PLAN: Assistance in GST Return Filing for 1 year. GST Return Filing for 1 year, Service Fees: 7999/- excluding government Fees.
Law Compliances can help you in obtaining of GST Annual Return in 4-7working days.
** ** Time taken for Incorporation/ Registration will depend on the submission of the relevant documents by the client and also approval from the CONCERNED Government authorities.
FREQUENTLY ASKED QUESTIONS (FAQ):
How to file GST returns?
GST Returns must be filed online. There would also be a facility to prepare the returns offline and upload the same into an online portal.
Can the GST return be revised?
There would be no procedure or revision of a GST Return. All unreported invoices of the previous tax period must be included in the return for the current month and interest if any would be applicable.
Who should file GSTR 1 Return?
Under GST, all taxpayers, other than an input service distributor, a non-resident taxable person, a casual taxable person, and a person paying tax under the GST composition scheme are required to file a GSTR1 return. Know more about GSTR1 return filing.
What is the meaning of details of outward supplies?
Under GST, the expression “details of outward supplies” means information pertaining to sales transactions in a month like invoices issued, debit notes, credit notes, and revised invoices.
Can GSTR 1 Return be rectified?
Yes, any registered taxable person, who has filed a GSTR1 return can rectify the return if there is a discovery of any error or omission. The rectification can be filed in the tax period in which such error or omission is noticed. In case there is any short payment of tax, the payment of tax and interest can also be made during the period of discovery of error or omission.
What is the time limit for GST return rectification?
GST return can be rectified by a taxpayer until the month of September following the end of the financial year to which the details pertain or furnishing of the relevant annual return, whichever is earlier.
What invoices should be uploaded to the GST portal?
For all B2B supplies (whether inter-State or intra-State), invoice level details like customer GSTIN, the item-wise value of supply, amount of tax applicable, place of supply, date of invoice, and invoice number should be uploaded. For all B2C supplies (including non-registered Government entities, Consumer/person dealing in exempted/NIL rated/non-GST goods or services), the suppliers should upload invoice level details similar to B2B invoices, when the value of supply is more than Rs.2.5 lakhs. For invoices with a value of less than Rs.2.5 lakhs, a State-wise summary of the supply statement should be filed. The address of the buyer has to be mandatorily reflected in every invoice having a value of Rs.50,000/- or more. ***
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