GST Return Filing

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GST Return Filing Services - An Overview

GST Return Filing

Table of Contents

All incorporated businesses are entitled to do monthly, quarterly and Annual GST return filing based on the nature of the business. This is to ensure that taxpayer services such as GST registration online, GST filing online and tax compliance are transparent and straightforward.

What is GST Return?

GST return is an official document containing information comprising purchases, tax paid on purchases, sales, tax collected on sales and other expenses. GST return filing is done with the administrative tax authorities and consultancy agencies, following which the taxpayer is required to pay off the tax liability.

Who Should File GST Return Online?

Essentially, GST returns are to be filed by all business entities registered on the GST portal. The process of GST filing online depends upon the category of business.

In the GST regime, any regular business that has an annual turnover of more than Rs. 20 lakhs is liable to file GST returns. For special category states like Arunachal Pradesh, Manipur, Assam, Meghalaya, Mizoram, Manipur, Sikkim, Tripura, Himachal Pradesh, Jammu and Kashmir, and Himalaya the minimum annual turnover is 10 Lakhs.

Types of GST Return Filing

In India, there are twenty-two types of GST returns prescribed under the GST Act. Out of these, eleven are actively in use, three are suspended indefinitely and eight are view-only in nature. The number and types of GST return filing depend upon the nature of the business registered.

Here is a List of GST Return Filing:

1. GSTR-1

This type of GST return filing mentions details about outward supplies of taxable goods and services. It is to be filed on the 11th of every month w.e.f. 2018.

2. GSTR-2 (Suspended from September 2017):

This type of GST return filing involves particulars of inward taxable goods and services claiming the input tax credit.

3. GSTR-3 (Suspended from September 2017):

This type of GST return filing includes finalized net monthly return on the basis of inward and outward supplies along with tax deductions.

4. GSTR-3B

This type of GST return filing is a summary of outward supplies along with tax payments and input tax credit. It can be filed on a monthly or quarterly basis.

5. CMP-08

This GST return filing is essentially a statement to pay taxes by businesses registered in the umbrella of the composition scheme under Section 10 of the CGST Act. It is to be paid quarterly.

6. GSTR-5

This type of GST return filing is done by a non-resident foreign taxable individual.

7. GSTR-6

This type of GST return filing is done to distribute the input tax credit by an input service distributor.

8. GSTR-7

This type of GST return filing is done for the deduction of TDS (Tax Deducted at Source).

9. GSTR-8

This type of GST return filing is done to provide details of outward supplies by e-commerce operators and procure TDS.

10. GSTR-9

This type of GST return filing is done annually by a normal taxpayer.

11. GSTR-10

This type of GST return filing is a one-time payment to be filed by a taxpayer whose GST registration has been cancelled or surrendered.

How to File Nil GST Return?

A nil GST Return is to be filed by all GST registered taxpayers in case there are no supplies in a particular month/quarter.

The process of nil GST return filing is carried out as follows:

Step 1: Log in to the GST portal: www.gst.gov.in

Step 2: A fifteen-digit GST Identification Number (GSTIN) will be issued based upon your state code and Permanent Account Number (PAN).

Step 3: On the GST portal, click on the Services drop-down menu.

Step 4: Click on Returns dashboard. Fill in the financial year and the return filing period in the drop-down menu.

Step 5: Select the type of GST return filing you want to file and click on the ‘Prepare online’ option.

Step 6: On this page, you are required to enter all the aforementioned details, including the amount.

Step 7: After filling in the required information, click on the ‘Save’ option. All the particulars will be saved and the transaction will get successful.

Step 8: Now, click on Submit option to file the gst return return.

Step 9: Click on the payment option after checking the box against the declaration and select an authorized signatory from the drop-down menu. You can choose between filing GSTR-1 with DSC and GSTR-1 with EVC.

That’s it! Your nil GST return filing is completed. A reference number will be displayed on your screen.

Top Reasons to Hire a GST Consultant For Your Business in India:

Please note that while it is convenient to do GST return filing online by yourself, it increases the chances of inaccuracy and your GST return may stand cancelled or you may end up paying huge amounts as Interest, Late Fees or Penalty for even a minor mistake. Thus, it is recommended to consider hiring a professional since they are experts in this niche and can do well for your business. 

A certified professional to cater to your GST filing needs would enable you to focus on key result areas of the firm. It will also save you time and effort involved in return filing & accounting services and save you from unnecessary discrepancies and delays. 

Here are a few reasons to outsource GST return filing in India: 

  1. Complicated legalities: The law involving GST is a culmination of the IGST Act 2017, CGST Act 2017 and SGST Act, 2017. On top of it, there are so many modifications every year that it becomes difficult to follow up for businesses. A professional GST consultant can allow you to focus on your work as well as keep you updated.
  2. Penalty: Under the GST Law, the penalty for wrong and late GST return filing may go up to Rs 60,000. By outsourcing GST compliances, you can ensure that all is done within due time. 
  3. Focus on KRAs: As a business owner, your focus should be on the Key Result Areas while we take care of your secondary needs. Outsourcing GST services will enable you to invest time in the development, strategies and introduction of new products and services.  

You can now do GST return filing using Taxzona within minutes seamlessly and accurately. 

How to Activate Cancelled GST registration for Performing GST Return Filing?

A GST taxpayer whose registration has been cancelled by the proper officer (According to Section 2 [94] of the CGST Act, 2017, a proper officer is an official who has been designated to look after the payment of GST by the Commissioner or the Board.) can apply for revocation of GST cancellation by applying form GST REG-21. The condition is that the application for reversal must be filed within thirty days of receiving the notice of cancellation.

In case the GST registration has been cancelled on account of non-payment of returns, an application for revocation can be filed only after payment of the due amount along with interest and penalty.

Following Steps are to be Followed in Case of Revocation of Cancelled GST Registration:

Step 1:

Log in to the GST portal (www.gst.gov.in). In the navigation bar, click on the ‘Services’ drop-down menu and select ‘Registration’. Click on ‘Application for Revocation of Cancelled Registration’.

Step 2:

Fill in the particulars stating reasons for the reversal of the cancellation of GST registration. Also, attach the supporting documents. Click on the verification checkbox after mentioning all the details. Select an authorised signatory and place.

Step 3:

You can choose between the two options: ‘Submit with EVC’ or ‘Submit with DSC’. A ‘success’ dialogue box will pop up on the screen and acknowledgement will be sent within fifteen minutes.

GST REG-23: Cancellation of Application for Revocation

After the submission of the revocation application, the proper officer is assigned the duty of verification of the Form GST REG-21. In case the concerned officer is dissatisfied with the application, he/she will send a notice in form GST REG-23 stating why he/she thinks that the given application needs to be rejected.

Also, the concerned officer asks the assessed why the application furnished by him/her is not entitled to be rejected. The taxpayer shall respond to the officer in Form GST REG-24 within seven working days from the date of issue of notice.

If the concerned officer is satisfied with the application, he/she will issue the revocation of GST registration in GST REG-22 within thirty days from the reply in form GST REG-21.

It is worth repeating that the revocation of GST cancellation can only be done within thirty days of the cancellation of the order.

In order to file GST return online, check out Taxzona. where we offer comprehensive GST return filing services that cater to your needs and provide effective tax compliances.

For more doubts and queries, feel free to contact us:

info@taxzona.in 

+919820444477

FAQ's

The taxpayer will have the option to change the period (from quarterly to monthly and vice versa) of gst return filing his filing only once – at the time of filing his first return for that financial year.

The provider may upload documents up to the tenth of the next month (in the case of monthly filing) or the tenth of the following quarter (in the event of quarterly filing) (in case of quarterly filing). Thus, the receiver may accept or reset (unlock) a document up to the tenth of the following month. After this date, the receiver has the option of accepting, rejecting, or delaying the document.

No, the receiver must reject the document in order to the provider to make any necessary modifications.

Every month, GSTR-3B is a self-declared summary GST return (quarterly for QRMP scheme). From July 2017, it must be submitted by a registered taxpayer.

Each GSTIN requires a unique GSTR-3B to be submitted. GST return filing obligations must be met on or before the date of GSTR-3B submission, which is earlier than the due date.

GST Return filing 1 is a monthly/quarterly document that each registered tax payer is required to submit. It must specify the tax payer’s sales and supplies of goods and services throughout the tax period.

The QRMP plan enables taxpayers to submit GSTR-3B quarterly and pay tax on a monthly basis (gst return filing).

Incorporation into the QRMP Scheme. Existing taxpayers are automatically enrolled in the QRMP system.