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GST Returns Filing
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GST Returns Filling

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GST Return Filing

The Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in India. Every taxpayer registered under GST has to file GST returns. These returns are used to calculate the tax liability by the government. GST is an evolving system of taxation and the government keeps updating the rules and regulations around it. So, it is important to stay up-to-date to be able to file your returns correctly. Our GST return filing service helps taxpayers to get it done easily. Our professionals will take care of the filings so you don’t have to worry about keeping up with the due dates and staying GST compliant.

 

GST Filing Returns - Types and Due Dates

GST Return Filing Process

 

The government has been making strides towards innovation and automation and has instituted facilities for the online filing of returns under GST on the government’s GST portal, through the Goods and Service Tax Network (GSTN).

 
  • Step 1: Go to the GST portal – www.gst.gov.in
  • Step 2: Obtain a 15-digit GST Identification Number (GSTIN), which is issued based on your state code and PAN
  • Step 3: Upload the relevant invoices on the GST Portal. An invoice reference number against each invoice will be allotted
  • Step 4: Once all the invoices, inward returns, outward returns, and cumulative monthly GST filing returns are uploaded, verify all the data you have inputted and file your returns.
 

Connect2Business is well-known for its user-friendly online platform with which you can avail of GST filing services from the comfort of your home. The dedicated representatives of Connect2Business will be in constant touch with you right from the start. They will collect all the required documents and do the needful.

Types of GST Returns Application Status Tracking

 

The status of the Filing GST return application depends upon the performance of the obligation, and the status available would make the taxpayer aware of their filing.. Basically there are four statuses and they are explained below.

 
  • FILED-VALID: When the GST return Filing is being filed by the registered taxpayer and has fulfilled all the requirements
  • FILED-INVALID: When the tax is partly or fully remains unremitted
  • TO BE FILED: GST Returns is due but has not been filed
  • SUBMITTED BUT NOT VALID: In cases where the return has been validated but the filing is pending.
 
 

How to Check GST Return Status?

 

There are three easy ways to track GST returns status online

Tracking Through ARN

When submitting the tax return, taxpayers are allotted a unique number called an ARN which helps in tracking the status of the tax return which is to be done every month. Steps to view the status through ARN are explained below:

 
  • Step 1: Visit the official GST portal and log in to your user portal by filing down the required credentials or entering the valid details
  • Step 2: Click of the Services > Returns > Track Return status
  • Step 3: Enter the ARN number which has been sent to the registered email address of the taxpayer and click on the search key.
 

On clicking on the search option, there would be a full display of the return application status which will be having all the relevant details.

Tracking through GST Returns Filing Period

  • Step 1: Visit the official GST portal and log in to your user portal by filing down the required credentials or entering the valid details
  • Step 2: Click of the Services > Returns > Track Return status
  • Step 3: Click on the GST Return Filing period and enter the dates with the help of the calendar available
  • Step 4:On clicking on the search option all the relevant details would be displayed on the screen.

When Tracking Through the Status

  • Step 1: Visit the official GST portal and select the search taxpayer option
  • Step 2: You will see the GSTIN/UIN option, enter your GSTIN ID and fill in the exact captcha code and then click on the search command. Captcha Code will appear only when you enter your GSTIN ID
 

Once all of the information is submitted, the page will display all of the relevant information about the company, including the legal name, jurisdiction, date of registration, GSTIN/UIN status, and data from all recent GST returns filed under various sub-headings.

 
 

Steps to Download GST Returns Online

 

Here is a step by step guide on how to download the GST returns online:

 
  • Step 1: Enter your login details and click on ‘Login’
  • Step 2: Click on ‘File GST Returns’
  • Step 3: Select year and month, then click on ‘Search’
  • Step 4: Click on ‘View GSTR 1’
  • Step 5: Next click on ‘Preview’
  • Step 6: Save in folder and right-click to show in folder.
 
 

Benefits of GST Return Filing

GST Eliminates Cascading Effect

Earlier there were many instances where tax on tax was paid for a single transaction. As GST did away with several other taxes like central excise duty, service tax, customs duty, and state-level value-added tax, you no longer are subjected to paying tax on tax. This saves you money.

Higher Threshold

The threshold for GST is aggregate turnover exceeding 40 lakhs for sale of goods and aggregate turnover exceeding 20 lakhs for sale of services. This means small businesses falling below this threshold limit are not subject to GST Filing.

Easier for Startups and E-commerce Businesses

The GST system has made it easier for startups and e-commerce companies to manage their taxes. E-commerce particularly suffered from different tax laws across different states which are now eradicated by GST.

More Organised System

Before the GST tax return filing system was disorganised. Now, all taxes are paid online and major hassles that were a part of tax filing have been eliminated in the process of introducing GST.

 
 

Who Is Eligible for GST Return?

 
  • Regular enterprises with an annual aggregate revenue of more than ₹5 crore
  • Taxpayers who did not choose the QRMP plan are required to file two monthly returns and one yearly return under the GST system
  • QRMP filers must submit nine GSTR files annually, which include four GSTR-1 and three GSTR-3B forms as well as an annual return. It should be noted that even if QRMP filers submit their returns on a quarterly basis, they must pay tax on a monthly basis
  • Additionally, separate statements and returns must be filed in other circumstances, such as in the case of composition dealers, who must submit five GSTR files annually (4 statement-cum-challans in CMP-08 and 1 annual return GSTR-4).
 
 

Documents Required for GST Return Filing

 
  • Invoices issued to persons with GSTIN or B2B invoices
  • Invoices issued to persons without GSTIN or B2C invoices
  • This needs to be submitted only when its total value is above ₹2.5 lakhs
  • A consolidation of inter-state sales
  • HSN-wise summary of all goods sold
  • Any other debit or credit notes or advance receipts
 
 

Upcoming Due Dates to File GST Returns

 

It is crucial to complete the filing within the due date to file GST. This will help in avoiding late payment charges and interests. The due dates for filing GST returns can be extended as per the issuing order or through notifications. Connect2Business

has gathered a list of due dates to file GST for the financial year 2021- 2022 and 2022 – 2023.

 
 

What Is the GST Return

 

The GST return is a comprehensive record encompassing your sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). Upon filing the GST returns, you are required to settle the resulting tax liability, which represents the amount you owe to the government.

 

Penalty for Late Filing

GST Return Filing under the Composition Scheme

 

Taxpayers registered under the Composition Scheme must pay taxes using CMP-08 every quarter and file GSTR-4 annually through the GST Common Portal or a GST Facilitation Centre. The due date for the GST return for Composition Scheme registrants is the 18th of the month following each quarter, namely 18 April, 18 July, 18 October, and 18 January. The GST return must contain details of:

  • Details of supplies received from registered and unregistered persons, both intra-state and inter-state, should be provided on an invoice-wise basis.
  • The GST return filed by a Composition Scheme supplier must also contain a summary of the supplies they have made to their customers.
 

If a person registered under GST has chosen to pay taxes under the Composition Scheme from the start of a financial year, they must file monthly GST returns on the 10th, 15th, and 20th of each month, and keep filing monthly returns until the due date of furnishing the return for September of the next financial year or the annual return of the preceding financial year, whichever comes first. Therefore, even if a taxpayer opts for the Composition Scheme from April onwards, they must continue filing monthly GST returns until September.

 
 

Why Connect2Business?

 

Connect2Business has a fleet of GST experts to support you in all spheres. We help more than 1000 companies with GST related compliances on an every month basis.

  • You don’t want to worry about keeping tabs on due dates, we will remind you
  • Simplified system to keep your invoices and other documents in place and organised
  • Experts file your returns and ensure you get a proper input tax credit and save money
  • No more trying to make sense of changes in GST laws and processes, our experts file returns for many other businesses like yours and are always up to date with it
  • Your filing with be error-free and you will save a lot of time and effort
  • We bear any sort of penalties incurred due to any erroneous delay from our end.
 

GST Returns Filing FAQs

Any individual, business, or entity registered under GST is required to file GST returns. This includes regular taxpayers, composition scheme taxpayers, Input Service Distributors (ISD), Non-Resident Taxable Persons (NRTP), and others who are liable to pay GST.
 
There are various types of returns under GST, some of the common ones are:
a. GSTR-1: Monthly statement of outward supplies.
b. GSTR-3B: Monthly summary return to declare GST liability and pay taxes.
c. GSTR-4: Quarterly return for composition scheme taxpayers.
d. GSTR-9: Annual return providing a summary of transactions during the financial year.
 
GST returns serve as a mechanism to report the details of sales, purchases, and taxes paid. Filing GST returns ensures compliance with tax laws, facilitates claiming input tax credit, and enables the government to track taxable transactions, leading to a more transparent and efficient tax system.
 
GSTR-1 and GSTR-3B are the two primary monthly returns under GST. GSTR-1 is used to report outward supplies, while GSTR-3B is a summary return used to declare the tax liability and make payments.
 
 
Hiring a Chartered Accountant (CA) for GST filing is not mandatory, but it can be beneficial for businesses with complex transactions or those seeking professional guidance to ensure accurate and compliant GST filings.
 
 
Generally, GST returns are filed on a monthly basis. However, there are specific returns like GSTR-4 (composition scheme) and GSTR-9 (annual return) that have different filing periods.
 
 
For most taxpayers, GST filing is done on a monthly basis. However, certain taxpayers, such as those under the composition scheme, file returns on a quarterly basis.
 
Yes, monthly GST return filing is mandatory for most regular taxpayers. They need to file GSTR-1 and GSTR-3B on a monthly basis.
 
 
The due date for GSTR-1 is the 11th of the following month, while the due date for GSTR-3B is the 20th of the following month.
 
No, GST is not based on profit. It is a consumption-based tax levied on the supply of goods and services.
 
Yes, eligible taxpayers can claim a GST refund exceeding Rs. 2 lakhs. However, such refunds require proper documentation and compliance with the GST laws.
 

Recent Updates

06 February 2023

Individuals who wish to enroll or continue with the Composition Scheme for the financial year 2023-24 can submit a declaration in Form CMP-02 through the GST portal by 31 March 2023.

17 December 2022

  • Decriminalisation of three GST offences:
  • Obstruction of an officer’s performance of duties
  • Increase in the tax threshold amount for launching a criminal GST offence from the current limit of ₹1 crore to ₹2 crores, except where fake invoices are involved
  • Decriminalisation of compounding of offence up to a certain limit in order to lessen the workload of courts
  • GST on pulse husks for cow feed (including chilka and concentrates) was decreased from 5% to 0% as part of a few rate rationalisation issues. The 5% GST on ethyl alcohol that was previously paid at a concessionary 18% rate was also extended to refineries for the purpose of mixing with gasoline
  • A few tax-related issues were clarified, including the GST on equipment used by oil companies for exploration and how to handle invoice mismatches in GSTR-1 and GSTR-3B in the early years
  • To make e-commerce more accessible to all micro-businesses, e-commerce operators can let suppliers to be both registered under the composition system and unregistered vendors
  • The 48 meeting’s agenda did not include the second report on casinos and online gaming because it was not distributed
  • Regarding a GST rate increase, no decision has been made.

1 December 2022

The 48 GST Council meeting will be held on Saturday, 17 December 2022, with a lengthy agenda

10 November 2022

  • Circular 181 was released to make it clear that revisions pertaining to refunds will take effect immediately
  • Circular 182 is released to outline the verification process for approving claims for transitional credit made by taxpayers between 1 October 2022 and 30 November 2022.

5 July 2022

  • The deadline for GSTR-4 for FY 2021-22 has been extended until 28 July 2022, with a waiver of late fees, as per Notification 12/2022 dated 5 July 2022.
  • Notification 12/2022, dated 5 July 2022, has extended the deadline for filing CMP-08 for April-June 2022 to 31 July 2022.

26 May 2022

According to the notification CGST No.7/2022 dated 26 May 2022, if GSTR-4 for FY 2021-22 is filed between 1 May and 30 June 2022, the late fee for the delay in filing will be waived.

24 February 2022

Those who are either composition taxable persons or interested in opting for the scheme for FY 2022-23, need to submit a declaration on the GST portal using Form CMP-02 by the deadline of 31 March 2022.

GST Payment for Different Taxpayers

The GST payment process is largely the same for all taxpayers. Payment is not required if the electronic cash ledger has a sufficient cash balance. In other words, if the cash balance is insufficient, the taxpayer must utilise a challan to deposit money into the cash ledger using prescribed payment methods. The following is an overview of the payment process for various taxpayer types

Regular Taxpayer

Around the time of submitting GSTR-3B, they must use the PMT-06 challan to make any GST payments to the electronic cash ledger. The details will be published in GSTR-3B. They can also generate a challan and pay for it before or after logging in, or while completing GSTR-3B returns.

Quarterly Taxpayer

These are taxpayers who have chosen to participate in the GST QRMP scheme. They must deposit tax directly utilising the PMT-6 in the first two months of a quarter and make payment while filing GSTR-3B in the last month of the quarter.

Taxpayers Filing Nil GST Returns

For the relevant tax period, whether for the month or quarter, these taxpayers have no sales or purchases, and no tax is due. They don’t have to use the challan or pay anything.

Composition Taxable Persons

These taxpayers must total up their sales/turnover information for the quarter in challan CMP-08 and pay the tax.

Steps for Online GST Payment

To make the GST payment post-login to the GST Portal once the challan is generated, perform the following steps:

  • Access the https://www.gst.gov.in/URL. The GST Home page is displayed
  • Login to the GST Portal with valid credentials
  • Access the generated challan. Click the Services > Payments > Challan History command
  • Select the CPIN link for which you want to make the payment

Note: In case you don’t know the CPIN number, you can select the Search By Date option to search the CPIN number by the date on which it was generated.

  • Select the Mode of E-Payment
  • In the case of Net Banking
    1. Select the bank through which you want to make the payment
    2. Select the checkbox for terms and conditions to apply
    3. Click the make payment button
  • In the case of Credit/ Debit Cards
    1. Please select a payment gateway, select the payment gateway option
    2. Select the checkbox for terms and conditions apply
    3. Click the make payment button

Steps for Offline GST Payment

In the case of Over the Counter

  • In the payment modes option, select the over the counter as a payment mode
  • Select the name of the bank where cash or instrument is proposed to be deposited
  • Select the type of instrument as cash/cheque/demand draft
  • Click the generate challan button
  • Take a printout of the challan and visit the selected Bank
  • Pay using cash/cheque/demand draft within the challan’s validity period
  • The status of the payment will be updated on the GST Portal after confirmation from the bank.

Steps for GST Payment Through NEFT/RTGS

In the case of NEFT/ RTGS

  • In the payment modes option, select the NEFT/RTGS as a payment mode
  • In the remitting bank drop-down list, select the name of the remitting bank
  • Click the generate challan button
  • Take a printout of the challan and visit the selected Bank. Mandate forms will also be generated simultaneously
  • Pay using Cheque through your account with the selected bank/branch. You can also pay using the account debit facility
  • The transaction will be processed by the bank and RBI shall confirm the same within <2 hours>
  • Once you receive the Unique Transaction Number (UTR) on your registered e-mail or mobile number, you can link the UTR with the NEFT/RTGS CPIN on the GST Portal. Go to challan history and click the CPIN link. Enter the UTR and link it with the NEFT/RTGS payment
  • The status of the payment will be updated on the GST portal after confirmation from the bank
  • The payment will be updated in the electronic cash ledger in respective minor/major heads.

Penalty On Late Payment Of GST

When you miss the due date for returns, a late fee of ₹50/day (₹25 each for CGST and SGST) is to be paid if you have a tax liability. If you don’t have tax liability the late fee is ₹20/day. ₹5000/- is the cap on the late fee. In case of delay in annual return filing (GSTR-9), the late fee is ₹200/day (₹100 each for CGST and SGST).

GST Return Filing Glossary

CGST

It is the tax collected by the central government on intra-state sales.

SGST

The tax collected by the state government on intra-state sales.

IGST

The tax collected by the central government for an inter-state sale.

UGST

Union Territory Goods and Services Tax – A part of GST which is levied by the Union Government.

GSTIN

Goods and Services Tax Identification Number/GST registration number is a unique 15-character identity number given to the businesses that register for GST.

GSTR

GST Return (GSTR) is a document capturing the details of the income, which a taxpayer is supposed to file with the authorities to calculate his tax liability. There are a total of 11 types of GST returns.

GSTN

Goods and Services Tax Network (GSTN) is a non-profit, public-private partnership company that provides IT infrastructure and services for the implementation of GST.

ITC

Input tax credit [ITC] is the credit a taxable person receives for paying input taxes towards inputs used for his business.

GST Invoice

The GST invoice is issued by the person who is supplying goods and services. It includes the details of the sale and the seller’s GSTIN.

HSN Code

HSN code is a 6-digit uniform code that classifies 5000+ products and is accepted worldwide. HSN stands for Harmonized System of Nomenclature.

SAC Code

SAC code is a code used to classify services under GST. Each service has a unique SAC code.

Aggregate turnover

Aggregate turnover is the total value of all taxable supplies and it is used to determine the threshold for GST.

Taxable person

A taxable person is any individual engaged in economic activity in India and who is or is required to be registered under GST.

GST Compliance Rating

GST Compliance Rating is a score between [0 -10] assigned to all the taxpayers, that depicts their GST compliance.

Gst Returns Filling Customised by States
➤Gst  Returns Filling in Maharashtra
➤Gst  Returns Filling in Gujrat
➤Gst  Returns Filling in Punjab
➤Gst  Returns Filling in Chandigarh
➤Gst  Returns Filling in Chhattisgarh
➤Gst  Returns Filling in Assam
➤Gst  Returns Filling in Telangana
➤Gst  Returns Filling in Goa
➤Gst  Returns Filling in Himachal Pradesh
➤Gst  Returns Filling in Meghalaya
➤Gst  Returns Filling in Sikkim
 
 
➤Gst  Returns Filling in Karnataka
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➤Gst  Returns Filling in Mizoram
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➤Gst  Returns Filling in Bihar
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➤Gst  Returns Filling in Puducherry
➤Gst  Returns Filling in Manipur
➤Gst  Returns Filling in Nagaland
➤Gst  Returns Filling in Lakshadweep
 
 
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