GST Return Filing

GUnder GST rule, every individual who are registered under GST have to provide details regarding purchasing and selling of goods along with tax paid and collected.

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GST Return filing

Good and services tax is a single indirect tax replacing multiple taxes and is levied at every steps from manufacturer to consumer. Its main motive is to liberate India from complicated taxation structure. Therefore, GST is paid by the consumer which is charged by the last dealer or supplier. Thus tax system like GST in India will ensure that all the services related to registration returns are transparent.

This type of document contains the details of individual income where the taxpayer is required to file according to the law with tax administrative authority. In this document, the taxpayer is required to provide the monthly and annual return. The Individual who is registered under this act has to furnish the relevant details including purchases and sales. This document is used by tax authorities for calculating tax liabilities. Every individual who is indulged under GST Filing act has to regularly provide the details of tax collected along with the goods & services purchased. A payment of tax is required before filing the GST return otherwise it will be considered as invalid. These returns are designed to sync the transactions between the buyer and seller and therefore no unheeded transactions are left.

Under GST rule, every individual who are registered under GST have to provide details regarding purchasing and selling of goods along with tax paid and collected. Entities obtained GST registration must file GST return, even it is mandatory for all little tax payers.

After obtaining GST registration, the entity will be required to file GST returns periodically. Failure to file GST returns will attract penalty. Entities with an annual turnover of more than Rs.1.5 crores (INR 15 Million) will have to file monthly GST returns. The three returns to be filed by normal taxpayers are GSTR-1 (details of outward supplies) on the 10th of each month, GSTR-2 (details of inward supplies) on the 15th of each month and GSTR-3 (monthly return) on the 25th of each month. The reduce the compliance burden of small businesses with a turnover of less than Rs.1.5 crores, the Government has announced quarterly returns commencing from the quarter starting in October.

Notifications in action to GST return filing:

The GSTR-2 &GSTR-3 Filing is suspended until any further notice on the same

GSTR-1 Filing is required to be filed.

GSTR-3B Filing returns contains the facet of inward & outward supplies, tax liability computation and tax payment. GSTR-3B is filed whenever there is any delay in filing of the regular returns.

Registered taxpayers with the turnover of Rs. 1.5 Crore or less are given an option to file quarterly returns in place of monthly.




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BENEFITS OF GST Return FILING

Elimination of cascading effect-

The main idea of GST was to eliminate the cascading effect of the tax which was visible before .cascading effect is also known as tax on tax.

Higher threshold

Earlier, any business with a financial turnover exceeding more than 20 lakhs was liable to pay VAT(different states has different limits)Moreover services provider with financial turnover of less than 10 lakhs were exempted from service tax.

Beneficial for startup

the procedure to file GST return is online and quite simple, mainly beneficial to business startup because they have to roam to get different (Value added tax, excise duty, service tax

Earlier supplying of good through

E-commerce was not well defined as there were many VAT laws. For example- goods delivering to different states had to file VAT declaration and mention the registration number of goods delivering truck.Even sometimes goods were seized by the tax authorities due to non-furnished documents.

Regulations and Accountability

Before GST regime, construction and textile industries were largely unorganized in India but now GST filing ensures that payments are made online. Moreover industries have regulations and accountability.




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Rs. 2799.00

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Plan for 3 Months return.

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Rs. 4599.00

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Plan for 6 months return

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Rs. 8599.00

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Annual Filing Contract per year

All Return form for GST

Return/Form Details Filer Frequency Due Date
GSTR – 1 Outward sales by Business Registered Normal Taxpayer Monthly 10th of next month
GSTR – 2 Purchases made by Business Registered Normal Taxpayer Monthly 15th of next month
GSTR – 3 GST Monthly returns along with the payment of tax Registered Normal Taxpayer Monthly 20th of next month
GSTR – 4 GST Quarterly return for Composition Taxpayers Composition Taxpayer Quarterly 18th of month next quarter
GSTR – 5 Periodic GST return for Non-Resident Foreign Taxpayer Non-Resident Foreign Taxpayer Monthly 20th of next month
GSTR – 6 Return for Input Service Distributor (ISD) Input Service Distributor Monthly 13th of next month
GSTR – 7 GST Return for TDS Tax Deductor Monthly 10th of next month
GSTR – 8 GST Return for E-commerce Operator E-commerce Operator (Tax Collector) Monthly 10th of next month
GSTR – 9 GST Annual Return Registered Normal Taxpayer annually 31st Dec of next financial year

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