File GST Return Easily

A GST return is a document containing details of income/sales and expense/purchase which a taxpayer has to file with the tax administrative authorities. The tax authorities use it to calculate the net tax liability. Filing GST returns includes:

  • 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, GST registration is mandatory when a person supplies services or goods over Rs.20 lakhs per year.

In addition to the turnover limit, GST registration is compulsory for all persons undertaking eCommerce sales.

Everybody need to file GST?

  • Yes, all taxpayers having GST registration should file GST returns on the 10th, 15th and 20th of each month.
  • Even if there was no business activity or transaction during a month, the taxpayer must still log in to the GST portal and file NIL GST return to avoid penalty.

Who should file a GST Return?

Every month on the 20th, GST registration holders are required to file a GSTR-3B return for the sales and purchases of each month. The purpose of filing GSTR-3B is to declare the GST liability summary for a particular tax timeline and discharge these liabilities. A normal taxpayer has to file the Form GSTR-3B returns for every tax period. Also, taxpayers have to file the form GSTR-3B when there is no business activity. It will be a NIL return. Amendment of Form GSTR-3B is not allowed.

All the entities registered under GST must file a GSTR-1 return. Business with annual revenue of more than 1.5 crores has to file GSTR-1 every month. For a business with a turnover of fewer than 1.5 crores, a GST return should be filed quarterly.

GSTR-1 is a monthly statement of Outward Supplies filed by all normal and casual registered taxpayers doing outward supplies of goods or contains details of outward goods and services.

Every GST registered taxable person except input service distributor is eligible to deduct tax u/s 51 persons liable to collect u/s 52 is required to file GSTR-1. Details of all the outward supplies of goods/services available on the GST portal.

All the registered GST taxpayers or businesses should file GST annually. The due date for filing GST annual return for FY 2018-19 is December 2020.

GST Return Due Dates

The following are upcoming GST return due dates:020 has been extended up to 31st March 2021 basing the pandemic situation.

  • Due to the pandemic situation, the GST return due date is extended up to 31 March output tax 2021. 
  • December GSTR-3B due can be filled up to January 2021
  • Annual revenue of more than 1.5 crores, December GSTR-1 return will be due till 11 January 2021
  • Annual revenue less than 1.5 crores, October-December Canceled  GSTR-1 return will be due on 31 January 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. 

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.