Online Filing for GST Return Made Easy

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    It’s Easy to File GST Return

    A GST return is a document a taxpayer must file with the tax authorities. It has information about their income/sales and expenses/purchases. The tax office uses it to determine how much net tax is owed. Part of filing GST returns is:

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

    GST Registration Services in India

    Persons or entities in India involved in the supply of goods or services must obtain GST registration when the threshold limit for registration is crossed.

    In most states, you must sign up for GST if you sell services or goods worth more than Rs.20 lakhs per year.

    In addition to the limit on sales, everyone who sells things online must also register for GST.

    Should Everyone File GST?

    Yes, all taxpayers registered for GST should send in GST returns on the 10, 15, and 20 of every month.

    Even if there was no business activity or transaction in a given month, the taxpayer must still log in to the GST portal and file a NIL GST return to avoid a penalty.

    Who Needs To Fill Out A GST Return?

    Registered for GST must file a GSTR-3B return for each month’s sales and purchases by the 20th of each month. The goal of filing GSTR-3B is to declare the summary of the GST liability for a specific tax period and pay off these obligations. Every tax period, an average taxpayer must fill out and send Form GSTR-3B. Also, taxpayers must fill out form GSTR-3B even if they don’t have a business. It won’t be worth anything. It is not possible to change Form GSTR-3B.

    All GST-registered businesses and organizations must fill out a GSTR-1 return. Companies that make more than Rs. 1.5 crores a year have to fill out GSTR-1 every month. A GST return should be filed every three months by a business with fewer than 1.5 crores turnover.

    GSTR-1 is a monthly statement of goods and services sent out of the country. It is filled out by all regular and occasional registered taxpayers who send goods or services out of the country.

    Every GST-registered taxable person, except for input service distributors who can deduct tax under section 51 and people who have to collect tax under section 52, must file GSTR-1. On the GST portal, you can find information about all the goods and services that leave the country.

    All businesses or taxpayers registered for GST should file GST every year. The annual return for GST for FY 2018-19 is due in December 2020.

    GST Return due dates while filing for GST Return

    GST Return Due Dates

    The following is a list of forthcoming deadline dates for GST returns:

    • In light of the pandemic scenario, the expiration date of 020 has been extended to March 31, 2021.
    • Because of the pandemic scenario, the deadline for filing GST returns has been pushed back to March 31, output tax 2021.
    • The GSTR-3B due in December may be filled out until January 2021.
    • For businesses with annual revenues of more than 1.5 crores, the deadline for filing the December GSTR-1 report has been extended to January 11, 2021.
    • Less than 1.5 crores in annual income during October-December The due date for the canceled GSTR-1 return is January 31 2021.

    Late Fees, Penalty & Interst on GST Returns

    GST Cancellation

    Failure to file GST returns on time leads to penalties and cancellation of GST registration. If the GST return is not paid continuously for six months, the GST registration will be canceled for the specific entity or taxpayer.

    Filing NIL GST Return

    In case of no business, NIL GST return must be filed. Failure to file NIL GST returns leads to the penalty of Rs.20 per day for both GSTR-3B return and GSTR-1 return. If there is any sales liability, an Rs. 50 penalty is applicable. 

    Interest Applicable on GST Late Paymen

    A taxpayer has to pay 18% interest on all the mentioned, penalty fees. The amount will be more after adding 18% interest on the penalties. Better to file the GST on time to save money. 

    FAQs(Frequently Asked Questions)

    Who should file GST Returns?

     All the entities registered under GST have to file GST before the due date. Even so, the registered entity with no activity should file a GST Nil Return to complete the GST regulations.

    How frequently one needs to file GST Returns?

    Regular taxpayers have to file the GSTR-1, GSTR-2, and GSTR-3. The due date of GSTR-1 is the 10th of each month, GSTR-2 is the 20th of each month and GSTR-3 is the 20th of each month. And the compounding taxpayers must file GSTR-4 on the 18th of the month every quarter.

    How to file the GST Returns?

    After preparing your documents offline, you can upload the documents online and file GST returns.

    Is the GST return revisable?

    There is no revision procedure for the GST return.