GST Return Filing

GST Return Filing

Businesses that are registered under GST have to file the GST returns monthly, quarterly, and annually based on the business. Here it is necessary to provide the details of the sales or purchases of the goods and services along with the tax that is collected and paid. Implementation of a comprehensive Income Tax System like GST in India has ensured that taxpayer services such as registration, returns, and compliance are in range and perfectly aligned.

GST return filing in India is mandatory for all the entities that have a valid GST registration irrespective of the business activity or the sales or the profitability during the period of filing the returns. Hence, even a dormant business that has a valid GST registration must file the GST returns.

GST Return Filing
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Who Should File GST Return?

In the GST regime, any regular business having more than Rs.5 crore as annual aggregate turnover has to file two monthly returns and one annual return. This amounts to 26 returns in a year.

The number of GSTR filings vary for quarterly GSTR-1 filers under QRMP scheme. The number of GSTR filings online for them is 9 in a year, including the GSTR-3B and annual return.

There are separate returns required to be filed by special cases such as composition dealers whose number of GSTR filings is 5 in a year.

How to File GST Return Online?

All taxpayers have to file their tax returns with the GST department every year. Fortunately, the new GST regime has automated the complete process. Below we have explained the steps on how to file your GST returns online:

  • Visit the GST portal, i.e.,
  • Based on your state code and PAN number, a 15-digit GST identification will be issued on the portal.
  • You must then upload all your invoices on the GST portal or the software. The system will generate an invoice reference number for each invoice.
  • Once you upload the invoices, outward return, inward return, you must file the cumulative monthly return online. In case you make any errors, you can correct them by refiling the returns.
  • You should file the outward supply returns in GSTR-1 form through the information section located on the GST Common Portal (GSTN). This filing must be completed on or before the 10th of the following month.
  • The recipient can access the details on outward supplies furnished by the supplier through the GSTR-2A.
  • The details on outward supply have to be verified, validated, and modified by the recipient. Also, details on credit and debit notes should be duly filled in.
  • The GSTR-2 form must also carry details on the inward supplies of taxable goods and services.
  • The modifications on the details of inward supply made in the GSTR - 1A may either be accepted or rejected.

Penalty for Late Filing of GST Returns

A late fee will be levied on taxpayers if they fail to file GST return on time. The interest rate is 18% per annum. The interest has to be calculated by the taxpayer on the amount of outstanding tax to be paid. A late fee of Rs.200 will be charged per day, from which Rs.100 each will be charged as CGST and SGST. The penalty fee can go as high as up to Rs.5,000. No late fees are charged on IGST. The penalty rate for late GST filing may change depending on the present regulations. The period will be calculated from the day after the final deadline until the complete payment is made. Also, read about GST on labour charges in India.

GST Returns Due Date

GSTR-1 (Monthly)

11th of every month

Monthly GSTR 1 returns must be filed by taxpayers having a turnover of more than Rs.1.5 crores on 11th of every month.

GST-1 (Quarterly)

13th of every quarter

Quarterly returns must be filed by taxpayers having a turnover of less than Rs.1.5 crores on 13th of every quarter.

CMP-08-Quarterly-Composition Scheme

18th of every quarter

CMP-08 must be filed by taxpayers registered under the GST composition scheme having a turnover of upto Rs.1 Crore on 18th of every quarter.

GSTR-4- Annual-Composition scheme

30th April

The due date for filing GSTR 4 is 30th of the month succeeding the financial year for which the composite taxpayer is filing the annual return.

GSTR-9-Annual Returns

31st December

Annual GST return filing for the financial year is due on 31st December. This is mandatory for all entities.