GST Return Filing

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Completely managed GST registration service and GST return filing service for 12 months with Expert Support and 1 year LEDGERS accounting software. Inclusive of all government fee and taxes.

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GST Return Filing

File GST Return Easily

Goods and Services Tax (GST) is applicable in India from 1st July 2017.

Under the new GST regime, nearly 1.4 crore businesses in India have obtained GST registration. All entities having GST registration are required to file GST returns every month. GST return filing is mandatory for all entities having GST registration, irrespective of business activity or sales or profitability during the return filing period. Hence, even a dormant business that obtained GST registration must file GST return.

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 GST Return?

GST registration holders are required to file GSTR-3B return every month providing details of sales and purchases made in a month to the Government. GSTR-3B return is due on the 20th of each month. Form GSTR-3B is a simplified summary return and the purpose of the return is for taxpayers to declare their summary GST liabilities for a particular tax period and discharge these liabilities. A normal taxpayer is required to file Form GSTR-3B returns for every tax period.

Note : Taxpayer has to file Form GSTR-3B even if there is no business activity. (Nil Return).

Amendment of Form GSTR-3B is not allowed.

In addition to GSTR-3B return, businesses registered under GST must file GSTR-1 return. GSTR-1 return must be filed every month by businesses having annual revenue of over Rs.1.5 crores. In case a business has a yearly revenue of less than Rs.1.5 crores, GST return should be filed every quarter. For the taxpayers who have opted to file Form GSTR-1 on monthly frequency, the system computed GSTR-3B will be generated and will be available on their GSTR-3B dashboard page after Form GSTR-1 has been filed by them.

This facility at present, has been enabled only for those taxpayers who have opted to file Form GSTR-1 at monthly frequency. GSTR-1 is a monthly Statement of Outward Supplies to be furnished by all normal and casual registered taxpayers making outward supplies of goods and services or both and contains details of outward supplies of goods and services.

Every registered taxable person, other than an input service distributor/composition taxpayer/persons liable to deduct tax u/s 51 persons liable to collect tax u/s 52 is required to file GSTR-1, the details of outward supplies of goods and/or services during a tax period, electronically on the GST Portal.

Annual GST return must be filed by all GST entities having GST registration. The due date for filing GST annual return for FY 2018-19 is 31st December 2020. The due date for filing GST annual return for FY2018-19 is 31st March 2020.

GST Return Due Dates

The following are upcoming GST return due dates:

  • December GSTR-3B will be due on 20th of January 2021.
  • December GSTR-1 return for persons having annual revenue of more than Rs.1.5 crores will be due on 11th January 2021.
  • October – December GSTR-1 return for persons having annual revenue of less than Rs.1.5 crores will be due on 31st January 2021.

Keep watching this page for the latest updates to GST return due dates.

Late Fees, Penalty & Interest on GST Returns

GST Cancellation

Failure to file GST returns on time to can lead to penalties and cancellation of GST registration. If GST return is continuously not submitted for six months, then the GST registration would be cancelled, and the person would not be able to obtain another GST registration – unless all the late filing penalty is paid.

Filing NIL GST Return

In case a person has no business, NIL GST return must be filed. Failure to file NIL GST return can lead to a penalty of Rs.20 per day for each of the GSTR-3B return and GSTR-1 return. Penalty of Rs. 50 applicable if there are any sales liability.
 

Interest Applicable on GST Late Payment

In addition to the above late filing fees, the person would also have to pay interest at the rate of 18% on GST payment remitted late to the Government. Subscribe to our accounting services to avoid late penalty fees in GST.