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GST Return Filling

What is GST return filing?

Information regarding a taxpayer’s profits that needs to be submitted to the tax authorities is contained in a GST return file. This is how tax authorities determine the tax liability. Depending on the nature of their business operations, companies who are registered for GST are required to file GST returns on a monthly, quarterly, or annual basis.

Included here must be the details of the sales or purchases of goods and services, together with the amount of tax received and paid. The implementation of a comprehensive income tax system, such as the GST, in India has guaranteed that taxpayer services, including registrations, returns, and conformance, are all in harmony and interconnected.

Regardless of their business activity, revenues, or profitability throughout the accounting periods, all organisations with a valid GST registration in India are required to file a GST return. Consequently, even a business that is no longer in operation but has a valid GST registration must submit GST returns.

Individual taxpayers are required to submit four types of GST returns: monthly returns, annual returns, returns for goods purchased, and returns for supplies.

Eligibility for filing GST returns

GST returns must be filed by any business that is registered with the Indian tax administration.
For any business whose annual turnover exceeds Rs. 20 lakhs per annum, it is mandatory for them to obtain GST registration and file GST returns.
For special states, the turnover limit is Rs. 10 lakhs

Types of GST returns:

Various types of GST returns filed by normal taxpayers are:

GSTR 1	Description of the taxable goods and/or services that were supplied outward	Monthy or Quarterly(if opted under QRMP scheme i.e., Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme)
GSTR 3B	GSTR 3B is a self-declaration filed on a monthly basis. It provides a summary of the following information: All supplies made outward Input tax credit claimed Liability for taxes Taxes that have been paid.	Monthy or Quarterly(if opted under QRMP scheme i.e., Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme)
CMP 08	A taxpayer enrolled under the composition system under Section 10 of the CGST Act can use a statement cum challan to make a tax payment.	Quarterly
GSTR 4	Section 10 of the CGST Act mandates the filing of returns by taxpayers who are enrolled under the composition scheme.	Annually
GSTR 5	The GSTR-5 form is for non-resident foreign taxpayers who conduct business in India. What are the ramifications of these returns? They include the following information: Outward supplies done Arrival of inbound supplies	Monthy
GSTR 6	To disburse the eligible input tax credit, the input service distributor must file this form.	Monthy
GSTR 7	Persons who are obligated to deduct TDS under GST must file Form GSTR-7. “Tax deducted at source” is what TDS stands for. This is filed by the government authorities.	Monthy
GSTR 8	Filed by e-commerce operators	Monthy
GSTR 9	Taxpayers registered under GST	Annually
GSTR 9C	Statement of certified reconciliation	Annually
GSTR 10	Is filed by those whose GST registration was surrendered or cancelled.	If GST registration is cancelled or surrendered.
GSTR 11	For refund claims by foreign diplomatic missions and embassies.	Monthy

GST calendar with due dates for filing GST returns

Type of GST return	Due date
GSTR 1	The 11th of the following month/the 13th of the following quarter.
GSTR 3B	The 20th of the subsequent month/ 22nd or 24th of the subsequent quarter.
CMP 08	The 18th of the month after the quarter.
GSTR 4	18th of the month succeeding the quarter
GSTR 5	20th of the following month
GSTR 6	13th of the subsequent month
GSTR 7	10th of the subsequent month
GSTR 8	10th of the next month
GSTR 9	31st December of the coming financial year
GSTR 10	Three months from the date of cancellation order, whichever succeeds the other.
GSTR 11	The 28th of the month following the month for which the statement is being filed.

The procedure for filing GST return online:

Every year, all taxpayers, from manufacturers and suppliers to dealers and consumers, must file tax returns with the GST administration. The new GST regime has simplified the process of filing tax returns.GST returns could be filed online utilizing GSTN software or apps, which will auto-fill the details on each GSTR form. The following mentioned procedure describes the steps for filing a GST return online:

Step 1: Go to the GST website (www.gst.gov.in).
Step 2:A 15-digit GST identity number will be assigned to you based on your state code and PAN number.
Step 3: Upload invoices to the GST website or software. An invoice reference number would be given to each invoice.
Step:4 After submitting invoices, you must complete an outward return, an interior return, and a cumulative monthly return online. If necessary, you can fix any mistakes and resubmit the returns.
Step:5 On or before the 10th of the following month, file the outward supply returns in GSTR-1 form using the information part of the GST Common Portal (GSTN).
Step:6 The recipient will get details of outbound supply provided by the supplier in GSTR-2A.
Step:7 The recipient must verify, authenticate, and alter the specifics of outgoing supplies, as well as file credit or debit note information.
Step 8: The recipient must enter information about inward supplies of taxable goods and services on the GSTR-2 form.
Step:9 The provider has the option of accepting or rejecting the recipient’s GSTR-1A adjustments to the specifics of inward shipments.

Documents required for filing GST return:

The list of documents required for filing GST return are:

1. B2B Invoices is a listing of all invoices issued to anyone who has a valid GSTIN. The GSTN must be used to upload these invoices. The document does not have to be included in the invoice when it is uploaded to GSTN. In the GSTN-accepted format, only the following information regarding a B2B invoice must be uploaded:

Customers GSTIN Invoice Category
Location of Supply
Number of Invoices
Date of Invoice
Value Subject to Taxation
Rate of GST
The amount of IGST that applies
The amount of CGST that applies
The amount of SGST that applies
The amount of GST that will be charged
If there is a GST Reverse Charge applicable

List of all invoices (B2C services)List of all invoices sent to non-GSTIN individuals (B2C invoices) with an invoice value greater than Rs.2.5 lakhs. The GSTN must receive details of all B2C invoices having a value of more than Rs.2.5 lakh. The B2C large invoice information listed below must be uploaded to the GSTIN.

Number of the invoice
Date of invoice
The invoice’s total value
Value subject to taxation
The applicable GST rate is
The amount of IGST that applies
The amount of CGST that applies
The amount of SGST that applies
The amount of GST that will be charged
Location of Supply

Consolidated intra-state and inter-state sales.

All export bills must be submitted with the GSTN. For all export invoices issued, the following information must be included in the GSTR1 report.

Customers GSTIN Invoice Category
Number of Invoices
Date of Invoice
Number on the Shipping Bill
Date of Bill of Lading
Code of the Port
Value Subject to Taxation
Rate of GST
The amount of IGST that applies
The amount of CGST that applies
The amount of SGST that applies
The amount of GST that will be charged

HSN wise summary details of all goods sold

Summary of documents issued during the tax period i.e., credit note, debit note, amendments, and advance receipts

GST return filing under composition scheme:

The GSTR-4 form is just the annual return form for taxpayers who have chosen the GST Composition scheme as part of the new indirect tax regime. Taxpayers will only have to file one return every fiscal year under the GST composition scheme.

In addition, taxpayers will be required to complete Form CMP-08 for payment every quarter of the year. Every CMP-08 submission is due on the 18th of the following quarter. A GST return filed by a supplier under the composition scheme must include the following information:

According to the invoice the Inter-State and intra-State inward supplies received from registered and unregistered individuals
The consolidated details about outward supplies.

Furthermore, if a taxable person chooses to pay tax under the composition scheme from the start of a financial year, the taxpayer must file monthly GST returns on the 10th, 15th, and 20th of each month, and monthly returns until the due date of providing the return for the month of September of the following financial year, or the furnishing of the previous financial year’s annual return, whichever comes first. As a result, even if a GST taxable person chooses the composition scheme beginning in April, the taxpayer must continue to file monthly GST returns until September.

Penalties on late filing/ defaulting of GST returns

Return filing is compulsory under GST. A NIL return must be filed even if there is no transaction. Not filing a GST return within the stipulated time period (including extension) is seen as non-compliance with the law and it attracts strict penalty costs. The amount charged for late fees varies depending upon the type of return filing. The 3 types are:

Late fee charged for non-annual GST returns
Late fee charged on annual GST returns
Late fee applicable on filing NIL returns.

The description of these is as follows:

Late fee charged on non-annual GST returns: If somehow the taxpayer fails to submit the GST return on time, the CGST Act poses a late fine of Rs. 100 and the SGST Act imposes a late fine of Rs. 100. As a result, a daily late fee amount of INR 200 is charged. Every day until the taxes are filed and the late fees are paid, this fee accumulates. The total amount collected cannot exceed INR 5000. For the interstate goods also, the per day and maximum charges apply.
Late fee charged on annual GST returns: Annual GST GST returns, similar to non-annual GST returns, are subject to late penalties of INR 100 per day under CGST law and INR 100 per day under SGST law. As a result, a total of INR 200 per day is payable until late fees are paid. The maximum penalty amount in a given financial year cannot go beyond 0.25 percent of the taxpayer’s total turnover.
Late fee applicable on filing NIL returns: A NIL return must be filed within the specified time period even when there is no GST return amount to be paid to the tax authority. If the deadline for filing NIL returns is missed, then a late fee is charged on a per-day basis. INR 50 is charged every day under the CGST Act, while INR 50 is applicable per day under the SGST Act. In total, a late cost of INR 100 per day is charged for the late filing of NIL returns until the date of fee payment.

Due to some technical difficulties that businesses were facing on the GST portal and frequent amendments of the GST clauses, CBIC has temporarily reduced the late fee amount as

For intra-state supplies: INR 25 per day under CGST and INR 25 under SGST, totaling Rs. 50 per day instead of Rs. 200 charged earlier.
For inter-state supplies: Monthly filing: IGST totaling Rs. 50 per day
Nil return: CGST has decreased the penalty for late filing of NIL returns to INR 10 per day, and SGST has similarly reduced the penalty to INR 10. For failing to file NIL returns on time, a fine of INR 20 per day is imposed. Late fees have also been decreased to INR 20 per day under the IGST.

Interest rate on late filing of GST returns

Interest rate shall be filed by a GST registered member if they fall under the below-mentioned category:

Paying GST after the due date has passed
Claiming excess ITC( Input Tax Credit)
Reducing excess Output Tax Liability

GST must be paid monthly while filing GSTR-3B and on a quarterly basis when filing GSTR-4.

In addition to the late fee, interest is imposed on late fees that are not paid on time. The interest rate charged is as follows:
If the tax is paid after the due date, the penalty is 18%.
If there is an excess ITC claim or an excess reduction in Output Tax, tax at a rate of 28% would be charged.

If a taxpayer does not file a GST return for a certain month, he or she will be unable to file a GST return for the following month. Furthermore, if a taxpayer fails to file their GSTR-1 return by the 10th, they will be unable to file their GSTR-2 return on the 15th. As a result, late GST return submission will have a cascading impact, resulting in significant fines and penalties.

GST Return Filling FAQ's

What type of taxpayers are exempted from filing GSTR-1?

The following type of taxpayers are exempted from filing GSTR-1

Taxpayers registered under the composition scheme of GST
Non-resident taxpayers who are foreigners
Input service distributors
Tax deductor: E-commerce operators who deduct TCS

Is having a Digital Signature Certificate (DSC) mandatory for all taxpayers?

No, having a DSC is not mandatory for all taxpayers. However, It is required for all public and private limited liability businesses, as well as Limited Liability Partnerships (LLPs).

What is CGST?

CGST stands for Central Goods and Services Tax. CGST is a tax charged on the intrastate supply (home state) of goods and services by the central government of India and is governed by the CGST Act 2017.

What is the deadline for normal taxpayers to pay their monthly tax obligations?

A normal taxpayer is required to file monthly tax obligations in form GSTR-3. The current due date for filing GSTR-3 is the 20th of the subsequent month.

What are the pre-required necessities for filing GSTR-1?

For filing GSTR-1, the following are the prerequisites

The taxpayer should have login credentials and a valid GSTIN
Taxpayer should have an active Digital Signature Certificate (DSC) if required
Taxpayers who want to use an electronic sign must have a valid Aadhar number having access to the mobile number and email

Is it mandatory to file taxes before filing out form GSTR-3?

Yes, it is a mandatory requirement that the tax liability should be filed before filling out form GSTR-3, if not done so, it will be treated as an invalid return.

What are the ways of addressing tax liability before filing form GSTR-3?

The tax liability can be addressed by using credit from the electronic credit ledger and the electronic cash ledger

What would happen if a taxpayer wants to file a GSTR return before and pay the tax liability later?

The GSTR filed in such a way would be treated as an invalid return and the taxpayer would have to file part B of the GSTR-3 again.

When will the taxpayer be able to get a refund from the electronic cash ledger?

The taxpayer would be able to claim a refund from the electronic cash ledger after addressing all the tax liabilities for that period.

What is GST return?

A GST return is a type of form that a GST-registered taxpayer (every GSTIN) is expected to file with the tax administrative authorities, telling about all income/sales and/or expenses/purchases. Tax authorities use this to calculate and find the net tax liability.

Is there any difference between an annual return and a final return?

No, every registered individual who pays tax as a regular taxpayer is required to file an Annual Return. Only those registered persons who have asked for cancellation of registration need to file a Final Return. The final return must be filed within three months after the date of cancellation or the date of cancellation order.