India, Bengaluru

GST Return Filing

What is GST Returns?

Every person registered under the GST Act has to periodically furnish the details of sales and purchases along with tax collected and paid thereon, respectively, by filing online returns. Before filing the return, payment of tax due is compulsory otherwise such return will be invalid.

How to File GST Returns?

GST Return filing procedure is easy, simple and online. The registered taxpayer is required to login on GST portal with their login credentials. Once logged in, go on the returns page and file the respective forms by filing in the required information. The computed tax liability is also paid off at the time of final filing of the returns.

Types of Returns

There are multiple returns under the GST regime. The most common used return will be GSTR 1, 2, 3, 4 & 9. GSTR 1, GSTR 2 & GSTR 3 will be submitted by all businesses on a monthly basis along with GSTR 9 on an annual basis. GSTR 4 is submitted by composition taxpayers on a quarterly basis.

Returns for a Normal Taxpayer

GSTR-1 Details of Outward Supplies 10th of the next month
GSTR-2 Details of Inward Supplies 15th of the next month
GSTR-3 Monthly Return for tax payment 20th of the next month
GSTR-9 Annual return 31st December of next financial year

Returns for a Composition Taxpayer

GSTR-4 Quarterly return 18th of month succeeding every quarter
GSTR-9 Annual return 31st December of next financial year

Extra Returns based on Nature of Business

GSTR-5 Details of Inward and outward Supplies. Tax liability computation 20th of the next month. For last month either 20th of next month or 7 days after expiration, whichever is earlier. Non-Resident Taxable Person
GSTR-6 Distribution of Input Tax credit 13th of next month Input Service Distributor
GSTR-7 TDS details or any related modifications 10th of next month Authorities deducting tax at source
GSTR-8 Details of supplies effected through them. 10th of next month E-commerce Operator who collect tax at source


GST Penalty & Late Fees

The interest is calculated as 18% per annum on the due date for GST payment. It has to be calculated by the taxpayer on the amount of outstanding tax to be paid.

The late fees are rupees 100 per day and it is liable for per Act. The maximum amount is 5000 rupees. The late fees of rupees 100 are only for SGST, CGST, this is not for IGST.

For late filing of GSTR-1, GSTR-3B, GSTR-4, GSTR-5 & GSTR-6 after the due date is Rs. 50 per day of delay is GST penalty for late filing.

For NIL returns the late fees is 20 rupees per day as GST penalty. This penalty is for GSTR-1, GSTR-3B and GSTR-4 & GSTR-5.

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