How to Start a GST Return Filing

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What is GST Return Filing?

In India, GST has been implemented from 1st July 2017. Under the GST regime, nearly 1 crore entities in India have obtained GST registration. Each entity having GST registration are required to file GST returns. GST Return filing can be done via a software or you can use government self service portal.

GST registration is required for all those enterprises which are involved in buying or selling or delivery of services exceeding Rs. 20 lakhs in a year whereas in case of north-eastern and hill states the limit is Rs. 10 lakhs. GST return filing is mandatory for all entities having GST registration, irrespective of business activity or sales or profitability during the return filing period and even a dormant business who has obtained GST registration must file GST returns.

GST return is a document which is required to be filed by the taxpayer with the tax administrative authorities containing details of income. Tax authorities use this document to calculate tax liability.

Who all should do GST Return filing?

  • Purchases;
  • Sales;
  • Output GST (on sales);
  • Input Tax Credit (GST paid on purchases).

It is Required for All Entities Holding GST Registration to Comply with GST Return Filing Rule

  • GSTR-1 (Details of Outward Supply) on the 10th of each month.
  • GSTR-2 (Details of inward Supply) on the 15th of each month.
  • GSTR-3 (monthly return) on the 20th of each month.
  • GSTR-4 is required filing in each quarter by compounding taxpayers on the 18th of the month next to the quarter.
  • Annual GST return is required to be filed on or before 31st of December.

What is Due Date for GST Return filing?

  • GSTR-1 Details of outward supplies of taxable goods or services affected Monthly 10th of the next month
  • GSTR-2 Details of inward supplies of taxable goods and/or services affected claiming input tax credit. Monthly 15th of the next month
  • GSTR-3 Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of the amount of tax. Monthly 20th of the next month
  • GSTR-9 Annual Return Annually 31st December of next financial year
  • GSTR-3B Provisional return for the months of July and August Monthly 25th of the next month

What is Procedure of GST Return filing?

  • Firstly, the taxpayer is required to upload the final GSTR-1 return form (Details of outward supplies made by a taxpayer) either directly through data entry in the GST Common Portal or by uploading the file containing the GSTR-1 return form by the 10th day of succeeding month.
  • GST Common Portal (GSTN) will be auto-generated in provisional GSTR-2 of a taxpayer.
  • Purchasing taxpayer will have to either accept, reject or modify the provisional GSTR-2.
  • Purchasing taxpayer shall be able to add additional purchase invoice details in his GSTR-2 which have not been uploaded by the supplier, to ensure the valid invoice issued by the supplier and receiving of supplies.
  • Taxpayers will have the option to do reconciliation of inward supplies with suppliers during the next 7 days by following up with their counter-party taxpayers for any missing supply invoices in the GSTR-1 of the suppliers.
  • Taxpayers will finalize their GSTR-1 and GSTR-2 return.
  • Taxpayers will pay the amount shown in draft GSTR-3 (Monthly return) return generated automatically generated at the online Portal Post Finalization of activities mentioned above.
  • The taxpayer will debit the both ITC, cash ledger, and mention the debit entry number in the GSTR-3 return and would submit the same.

FAQs of GST Return Filing

An individual who has been issued a UIN (Unique Identity Number) for the reason of claiming a refund on his/ her purchase in India requires to file Form GSTR 11.

The prominent examples of GSTR 11 are diplomatic bodies and foreign embassies holding UN.

The taxpayer must file Form GSTR 8 on or before the 10th of every month.

Yes, an e-commerce operator needs to file GSTR 8 who collects Tax at Source.

The main objective of filing Form GSTR 8 is to maintain a complete document regarding the transactions done on an “E-commerce Platform”.

A person who is registered under the GST Act as an ISD (Input Service Distributor) needs to file Form GSTR 6 as GST Return on or before 13th of every month.

Any person who surrendered his/ her GST registration or the same has been canceled by the authorities need to file Form GSTR 10.

An individual or taxpayer should file GSTR 10 within 3 months, starting from the date of surrender or the cancellation of the license.

The steps involved are Visit the Official Portal, Login to the Account with the Credentials; Click on the option named “Services”; Choose “Returns” from the Dashboard; Fill in the financial year; Select the desired return; and Click on “Prepare Online”.

Yes, all assesses or taxpayers who are having GST registration need to file GST returns on 10th, 15th, and 20th of each month.

When there is no business activity or income earned by the company in a month, the same needs to file NIL Return on the GST Portal to avoid penalty.

In total, there are 13 different types of GST Returns available under the GST Act.

Every individual who has GST Registration and is involved in buying or selling or delivery of services exceeding Rs 20 lakhs in a year., whereas in case of north-eastern and hill states the limit is Rs 10 lakhs needs to file monthly GST Return.

The term “GSTR 2” denotes a monthly return which gathers the details of Inward Purchases of the taxable goods and services or both.

Every individual who is registered under the GST Act needs to file Form GSTR 1 every month.

Yes, a late fee of Rs 200 will be charged daily as a penalty for the non-submission of GSR Form GSTR 1.

No, an individual who is not filing GSTR 1 is not required to file Form GSTR 38. Further, an individual can file Form GSTR 3B only after filing Form GSTR 1.

Every small taxpayer who is earning an Annual Turnover up to Rs 1.5 crore in the last financial year needs to file GSTR 1 on Quarterly basis.

Every taxpayer is earning an Annual Turnover up to Rs 1.5 crore in the last financial year and is expecting to earn the same needs to file GST Return on Quarterly basis.

Every Taxpayer has an option to choose whether he/ she wants to file GST Return on Monthly or Quarterly basis.

The Form GSTR 3B denotes a monthly return filed by the assessee on or before 20th of every succeeding month. However, Form GSTR 1 denotes either a month or quarterly return, which is filed by the taxpayer to disclose information of the outward supplies made in a month.

In this case, the applicant can file his/ her Return by using either of the different prescribed ways, such as OTP, PAN, and DSC.

The only thing you need to do is record the details of the purchase in Form GSTR 2.

The recipient needs to check and validate/ modify/ delete such information and details. After that, he/ she requires to submit the same in Form GSTR 2 on or before 15th of the succeeding tax period.

Yes, the details uploaded by the supplier will be communicated to the recipient under Part-A of Form GSTR 2.

No, the assessee who under the composition scheme will not obtain details of “inward supply” and “outward supply”

A Non-Resident Taxable Person needs to file Form GSTR 5 for submitting the monthly details of the “inward supply” and “outward supply”.

The details regarding the rejected document will be informed only when the recipient files his/ her return.

Only in the case of a NIL Return, a taxpayer can file Form RET 1 through SMS.

Yes, an OTP or One Time Password is needed at every stage of filing.

The term “Return” denotes a statement of financial activity undertaken by a taxable person for a specified period.

This document allows a taxable person to self assess the amount of tax that he/ she owes for that period.

The different types of GST Returns are GSTR 1, GSTR 2, GSTR 3, GSTR 4, GSTR 5, GSTR 6, GSTR 7, GSTR 8, GSTR 9, GSTR 10, and GSTR 11.

The Form ANX 1A is used by the assessee for making amendments concerning the details uploaded in Form ANX 1 for earlier tax periods.

No, the recipient needs to reject the document first to allow the supplier to make amendment in it.

Yes, a taxpayer has the option to change the period of filing his/ her GST Return.

A taxpayer can change the period of filing GST Return only at the time of filing Return for that F.Y.

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