GST Return Filing - GST Registration, GST cancellation, GST Return Filing

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GST Return Filing



GST Return Filing

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GST Return


GST Return is an official form that you fill in with details about your income that you receive from carrying out business transaction. So, that your tax liability can be calculated.

Who should file GST Return?

Every Registered entity is required to file GST Return.

Penalty for late GST Return Filing

Penalty for late GST Return Filing is Rs.50/- per day, for nil returns its Rs.20/- per day, maximum Rs. 5,000 per month.

18% p.a. interest is applicable for delay payment of tax amount. (24% in case of  excess claim of input credit)

Note: GST Return Filing is mandatory, even if there is no transaction, you must file a nil return. You can not file a GST Return if you don't file previous month/ Quarter Return. Hence, late filing penalty of late GST Return Filing will have a cascading effect leading to heavy fines & penalties. Non-filers of GST Return may face cancellation of GST Registration
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(GST Return Filing)

How to get GST Return File?

All Indian Taxation” will help you for filing your business GST return.

Documents require for GST Return Filing


  • Sales Bills
  • Purchase Bills
  • Debit / Credit Notes (if any)


Types of GST Returns

Return Form
Particulars
Frequency
Due Date for GST Return
GSTR-1
Details of outward supplies of  goods and/or services
Monthly
11th* of the next month 
GSTR-3B
Simple Return in which summary of outward supplies along with Input Tax Credit is declared  and payment of tax is paid
Monthly
20th of the next month
GSTR-4
Return for a taxpayer registered under the composition  levy
Quarterly
18th of the month succeeding quarter
GSTR-5
Return for a Non-Resident foreign taxable person
Monthly
20th of the next month
GSTR-6
Return for an Input Service Distributor (ISD)
Monthly
13th of the next month
GSTR-7
Return for authorities deducting tax at source.
Monthly
10th of the next month
GSTR-8
Details of supplies effected through e-commerce operator and the amount of tax collected
Monthly
10th of the next month
GSTR-9
Annual Return for a Normal Taxpayer
Annually
31st December of next financial year*
GSTR-9A
Annual Return a taxpayer registered under the composition levy anytime during the year
Annually
31st December of next financial year*
GSTR-10
Final Return
Once, when GST Registration is cancelled or surrendered
Within three months of the date of cancellation or date of cancellation order, whichever is later.
GSTR-11
Details of inward supplies to be furnished by a person having UIN and claiming a refund
Monthly
28th of the month following the month for which statement is filed




New GST Returns forms

Form GST Ret-1 (Normal Monthly)


  • Taxpayers whose aggregate turnover in the preceding financial year was above Rs.5 Crore will have to file monthly return.
  • Th­is return needs to be filed monthly by 20th of the month succeeding the month to which the tax liability pertain
  • Monthly return in FORM GST Ret-1 needs to be filed based on Form GST ANX – 1 and Form GST ANX–2

Form GST RET-1 (Normal Quarterly)

  • Taxpayers whose aggregate turnover in the preceding financial year was upto Rs.5 Crore can file this return
  • This return needs to be filed quarterly by 20th of the month succeeding the quarter to which the tax liability pertains
  • Tax has to be paid on monthly basis through Form GST PMT-08

Form GST RET-2 (Sahaj Quarterly)

  • Taxpayers whose aggregate turnover in the preceding financial year was upto Rs.5 Crore and have supplies only to consumers and unregistered persons (B2C supplies) can file this return based on Form GST ANX – 1 and Form GST ANX – 2 on quarterly basis 
  • Taxpayers opting to file Sahaj can declare outward supply under B2C category and inward supplies attracting reverse charge only. E-commerce operators are ineligible to file Sahaj. 
  • Tax has to be paid on monthly basis through Form GST PMT-08

Form GST RET-3 (Sugam Quarterly)

  • Taxpayers whose aggregate turnover in the preceding financial year was upto Rs.5 Crore and have made supplies to consumers and un-registered persons (B2C) and to registered persons (B2B) can file this return based on Form GST ANX – 1 and Form GST ANX – 2 on quarterly basis
  • Taxpayers opting to file Sugam can declare outward supply under B2C and B2B category and inward supplies attracting reverse charge only. E-commerce operators are ineligible to file Sugam.
  • Tax has to be paid on monthly basis through Form GST PMT-08

Form GST ANX-1

Th­ree important details need to be declared in Form GST ANX – 1:
  • Outward Supplies
  • Inward Supplies attracting Reverse Charge  
  • Details of import of Goods & Services

Note:

  • Supplier can upload invoice details and the recipient can view them and take action on real time basis
  •  Inward supplies attracting reverse charge will be reported only by the recipient
  • Option is available to include details omitted in the previous tax periods

Edit/Amendment of uploaded documents Form GST-ANX-1A

  • The amendment of details of earlier tax period can be made in Form GST ANX-1A before the due date of September return following the end of the financial year or the actual date of furnishing relevant annual return, whichever is earlier
  • Documents rejected by the recipient shall be conveyed to the supplier only after filing of the return by the recipient.
  • Supplier may edit the rejected documents before filing any subsequent return. However, credit will be made available to recipient through the next FORM GST ANX-2 for the recipient. ­The tax liability for such edited documents will be accounted for in the same tax period
  • Editing of documents can be done only by supplier. Editing by supplier is allowed only if recipient has not accepted such supply. If already accepted, unless reset/unlock by recipient details cannot be edited by supplier.

Form GST ANX-2

  • Details of documents uploaded by the corresponding supplier(s) will be auto populated in Form GST ANX-2 and recipient can take action on the auto populated documents to – accept, reject or to keep pending on continuous basis after 10th of the following month on which it was uploaded by supplier. Accepted documents would not be available for amendment at the corresponding supplier’s end
  • Supplier may edit rejected documents before ling subsequent return. However, credit will be available to recipient through next Form GST ANX-2. Th­e tax liability will be accounted for in the same

Returns not fi­led for consecutive two months by the supplier

  • Indication in Form GST ANX - 2 to the recipient that credit shall not be available
  • However uploaded invoices will be visible but recipient cannot avail ITC on such invoices Recipient to reject or keep such invoices pending till the supplier file return 


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