GST Returns Filing

GST Return Filing

A GST return is a document where a taxpayer reports income, expenses, sales, purchases, and tax liability to tax authorities using their GSTIN. It provides essential details for tax administrative authorities.

The Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in India. Every taxpayer registered under GST has to file GST returns. These returns are used to calculate the tax liability by the government. GST is an evolving system of taxation and the government keeps updating the rules and regulations around it. So, it is important to stay up-to-date to be able to file your returns correctly. Our GST return filing service helps taxpayers to get it done easily. Our professionals will take care of the filings so you don’t have to worry about keeping up with the due dates and staying GST compliant.

Documents Required for GST Return Filing

Invoices issued to persons with GSTIN or B2B invoices
Invoices issued to persons without GSTIN or B2C invoices
This needs to be submitted only when its total value is above ₹2.5 lakhs
A consolidation of inter-state sales
HSN-wise summary of all goods sold
Any other debit or credit notes or advance receipts

Steps for Online GST Payment

To make the GST payment post-login to the GST Portal once the challan is generated, perform the following steps:

Access the https://www.gst.gov.in/URL. The GST Home page is displayed
Login to the GST Portal with valid credentials
Access the generated challan. Click the Services > Payments > Challan History command
Select the CPIN link for which you want to make the payment

Note: In case you don’t know the CPIN number, you can select the Search By Date option to search the CPIN number by the date on which it was generated.

Select the Mode of E-Payment
In the case of Net Banking
1. Select the bank through which you want to make the payment
2. Select the checkbox for terms and conditions to apply
3. Click the make payment button

In the case of Credit/ Debit Cards
1. Please select a payment gateway, select the payment gateway option
2. Select the checkbox for terms and conditions apply
3. Click the make payment button

GST Filing Returns – Types and Due Dates

GST Filing Returns	Purpose
GSTR1	Tax returns for outward supplies are made using this form. It contains the details of the interstate as well as intrastate B2B and B2C sales including purchases under reverse charge and inter-state stock transfers made during the tax period. If Form GSTR-1 is filed late, the late fee will be collected in the next open return in Form GSTR-3B. From 1 January 2022, taxpayers will not be permitted to file Form GSTR-1 if they have not filed Form GSTR-3B in the preceding month.
GSTR1A	It is an amendment form used to correct the GSTR-1 document including any mismatches between the GSTR-1 of a taxpayer and the GSTR-2 of their customers. This can be filed between 15 and 17 of the following month.
GSTR2	Monthly GST return for the received inward supplies are filed using this form. It contains taxpayer info, period of return and final invoice-level purchase information related to the tax period listed separately for goods and services.
GSTR2A	An auto-generated tax return for purchases and inward supplies made by a taxpayer is automatically compiled by the GSTN based on the information present within the GSTR-1 of their suppliers.
GSTR2B	GSTR-2B is an auto-generated document that acts as an Input Tax Credit (ITC) statement for taxpayers. The GST Council states that GSTR-2B will help in cutting down the time taken to file returns, minimise errors, ease reconciliation and simplify compliance.
GSTR3	It is used to file consolidated monthly tax returns. It contains The taxpayer’s basic information (name, GSTIN, etc), period to which the return pertains, turnover details, final aggregate-level inward and outward supply details, tax liability under CGST, SGST, IGST, and additional tax (+1% tax), details about your ITC, cash, and liability ledgers, details of other payments such as interests, penalties, and fees.
GSTR3A	It is a tax notice issued by the tax authority to a defaulter who has failed to file monthly GST returns on time.
GSTR3B	Temporary consolidated summary GST returns of inward and outward supplies that the Government of India has introduced as relaxation for businesses that have recently registered to GST.
GSTR4	It is the quarterly GST returns filed by compounding vendors. This contains the total value of supply made during the period covered by the return, along with the details of the tax paid at the compounding rate (not more than 1% of aggregate turnover) for the period along with invoice details for inward supplies if they are either imports or purchased from normal taxpayers.
GSTR4A	It is the Quarterly purchase-related tax return filed by composition dealers. It’s automatically generated by the GSTN portal based on the information furnished in the GSTR-1, GSTR-5, and GSTR-7 of your suppliers.
GSTR5	Variable return for Non-resident foreign taxpayers (It contains the details of the taxpayer, period of return and invoice details of all goods and services sold and purchased. It also includes imports by the taxpayer on Indian soil for the registered period/month.
GSTR6	This is the monthly GST return for ISDs. It contains the details of the taxpayer’s basic information (name, GSTIN, etc), period to which the return pertains, invoice-level supply details from the GSTR-1 of counter-parties, invoice details, including the GSTIN of the taxpayer receiving the credit, separate ISD ledger containing the opening ITC balance for the period, credit for ITC services received, debit for ITC reversed or distributed, and closing balance
GSTR7	It is filed as a monthly return for TDS transactions. It contains the taxpayer’s basic information (name, GSTIN, etc), period to which the return pertains, supplier’s GSTIN, invoices against which the tax has been deducted. It is categorised under the major tax heads – SGST, CGST, and IGST. Details of any other payments such as interests and penalties are also included in the form.
GSTR8	It is the monthly return for e-commerce operators. It contains the taxpayer’s basic information (name, GSTIN, etc), the period to which the return pertains, details of supplies made to customers through the e-commerce portal by both registered taxable persons and unregistered persons, customers’ basic information (whether or not they are registered taxpayers), the amount of tax collected at source, tax payable, and tax paid).
GSTR9	This is an annual consolidated tax return It contains the taxpayer’s income and expenditure in detail. These are then regrouped according to the monthly GST returns filed by the taxpayer.
GSTR9A	It is an annual composition return form that has to be filed by every taxpayer who is enrolled in the composition scheme
GSTR9B	It is an annual return form that has to be filed by e-commerce operators who collect tax at the source
GSTR9C	This Audit form has to be filed by every taxpayer who is liable to get their annual reports audited when their aggregate turnover exceeds ₹2 crores in a financial year.
GSTR10	Filing GST returns before cancelling GST registration This final GST returns is to be filed when terminating business activities permanently/cancelling GST registration. It will contain the details of all supplies, liabilities, tax collected, tax payable.
GSTR11	Variable tax return for taxpayers with UIN It contains the details of purchases made by foreign embassies and diplomatic missions for self-consumption during a particular month.

Penalty for Late Filing

Type of Offence	Penalty	Type of Offence	Penalty
Late Filing:	– ₹100 per day during which the failure continues, up to a maximum of ₹5,000	Late Filing:	– ₹100 per day during which the failure continues, up to a maximum of ₹5,000
	– ₹100 per day during which the failure continues, subject to a maximum of quarter percent of the person’s turnover in the state where he is registered for annual return		– ₹100 per day during which the failure continues, subject to a maximum of quarter percent of the person’s turnover in the state where he is registered for annual return
Late Payment of Tax:	Interest on the tax due calculated from the first day the tax was due to be paid	Late Payment of Tax:	Interest on the tax due calculated from the first day the tax was due to be paid
Excess Claim of Input Tax Credit or Reduction:	Interest on the undue excess claim or undue reduction in output tax liability	Excess Claim of Input Tax Credit or Reduction:	Interest on the undue excess claim or undue reduction in output tax liability
Delayed Payment to Supplier:	Interest on the amount due added to the recipient’s liability	Delayed Payment to Supplier:	Interest on the amount due added to the recipient’s liability
Cancellation of Registration:	Registration may be canceled if:	Cancellation of Registration:	Registration may be canceled if:
	– Regular dealer hasn’t furnished returns for 6 continuous months		– Regular dealer hasn’t furnished returns for 6 continuous months
	– Composition dealer hasn’t furnished returns for 3 quarters		– Composition dealer hasn’t furnished returns for 3 quarters
	– Voluntary registered person hasn’t commenced business within 6 months of registration		– Voluntary registered person hasn’t commenced business within 6 months of registration
	– Registration obtained by fraud, wilful misstatement, or suppression of facts		– Registration obtained by fraud, wilful misstatement, or suppression of facts
Confiscation of Goods and/or Conveyances:	Confiscation of goods and/or conveyances and fine of ₹10,000 or an amount equal to the tax evaded	Confiscation of Goods and/or Conveyances:	Confiscation of goods and/or conveyances and fine of ₹10,000 or an amount equal to the tax evaded
Imprisonment and Fine:	Imprisonment and fine applicable for specific offenses	Imprisonment and Fine:	Imprisonment and fine applicable for specific offenses
Other Penalties:	– ₹10,000 or amount equivalent to the tax evaded for specified offenses	Other Penalties:	– ₹10,000 or amount equivalent to the tax evaded for specified offenses
	– Penalty of up to ₹25,000 for aiding or abetting offenses listed above		– Penalty of up to ₹25,000 for aiding or abetting offenses listed above

GST Filing Returns FAQs

Who can file a GST return?

Any individual, business, or entity registered under GST is required to file GST returns. This includes regular taxpayers, composition scheme taxpayers, Input Service Distributors (ISD), Non-Resident Taxable Persons (NRTP), and others who are liable to pay GST.

What are the types of returns under GST?

There are various types of returns under GST, some of the common ones are:
a. GSTR-1: Monthly statement of outward supplies.
b. GSTR-3B: Monthly summary return to declare GST liability and pay taxes.
c. GSTR-4: Quarterly return for composition scheme taxpayers.
d. GSTR-9: Annual return providing a summary of transactions during the financial year.

What is the benefit of GST return?

GST returns serve as a mechanism to report the details of sales, purchases, and taxes paid. Filing GST returns ensures compliance with tax laws, facilitates claiming input tax credit, and enables the government to track taxable transactions, leading to a more transparent and efficient tax system.

What is the monthly return of GST?

GSTR-1 and GSTR-3B are the two primary monthly returns under GST. GSTR-1 is used to report outward supplies, while GSTR-3B is a summary return used to declare the tax liability and make payments.

Do you need a CA for GST filing?

Hiring a Chartered Accountant (CA) for GST filing is not mandatory, but it can be beneficial for businesses with complex transactions or those seeking professional guidance to ensure accurate and compliant GST filings.

What is the filing period for GST?

Generally, GST returns are filed on a monthly basis. However, there are specific returns like GSTR-4 (composition scheme) and GSTR-9 (annual return) that have different filing periods.

Is the GST filing monthly or quarterly?

For most taxpayers, GST filing is done on a monthly basis. However, certain taxpayers, such as those under the composition scheme, file returns on a quarterly basis.

Is monthly GST return mandatory?

Yes, monthly GST return filing is mandatory for most regular taxpayers. They need to file GSTR-1 and GSTR-3B on a monthly basis.

Is GST paid on profit?

No, GST is not based on profit. It is a consumption-based tax levied on the supply of goods and services.

Does LLP need to file a tax return?

Yes, LLPs are required to file their annual income tax return irrespective of profit or loss. The LLP’s income tax return (ITR) must be filed electronically using the prescribed forms and within the due dates specified by the tax authorities.