Register your Company with us for less! Start here & Save! Contact Now!
Get Certificate, DINs, DSCs, MOA, AOA, PAN, TAN, GST, MSME, IEC, PF, ESI, PT*, Bank A/c, Share Certificates & GST Software along with your CIN under 10 working days!
GST Returns
- GET STARTED
GST Returns
Definition of GST Returns:
A GST Return may be a document or file containing the details of all revenue from sales and output GST thereon, also as all GST Purchases including input GST thereon, that a GST Dealer needs to file with the products and Services Tax Authorities/Department. The GST Return contains information like Purchases, Sales, Output Tax, and Input Tax.
A regular taxpayer is required to file monthly and one annual GST returns. There are separate returns for a taxpayer registered under the composition scheme, a non-resident taxpayer, a taxpayer registered as an Input Service Distributor, an individual liable to deduct or collect the tax (TDS/TCS), and an individual who has been issued a Unique Identification Number. it’s essential to note that a taxpayer is NOT required to file all return types. Taxpayers are required to file returns supported by the nature of their activities.
The GST Council has however recommended easing the compliance requirements for little taxpayers by permitting taxpayers with an annual aggregate turnover of up to Rs. 5 Crores to file details of outward supplies in FORM GSTR-1 on a quarterly basis, as against taxpayers with an annual aggregate turnover of more than Rs. 5 Crores, who must file details of outward supplies on a monthly basis.
How GST Returns are Filed:
All returns must be filed electronically. Returns could also be submitted by any of the following means:
- GSTN portal (www.gst.gov.in )
- Offline applications offered by GSTN
- GST Suvidha Providers (GSPs). If a tax payer is already utilizing the services of an ERP provider like Tally, SAP, Oracle, etc., there's a good chance that these ERP providers will provide in-built solutions within the existing ERP systems.
The following table details the various types of GST returns:
| Type of Return | Description | Who Files | Due Date |
|---|---|---|---|
| GSTR-1 | Statement of Supplies of products or Services to Recipients | Normal Registered Person | 11th of the next month |
| GSTR-3B | Details regarding monthly sales, purchases, and GST payments. The GST are going to be remitted via this Return. | Normal Registered Person | 20th of the next month |
| GSTR-4 | Quarterly Return | Taxable Person opting for Composition Levy | 18th of the month succeeding the quarter |
| GSTR-5 | Monthly return for a non-resident taxpayer | Non-resident taxpayer | 20th of the month succeeding tax period & within 7 days after expiry of registration |
| GSTR-5A | Monthly return for a person supplying OIDAR services from a place outside India to a non-taxable online recipient | Supplier of OIDAR Services | 20th of the next month |
| GSTR-6 | Monthly return for an Input Service Distributor (ISD) | Input Service Distributor | 13th of the next month |
| GSTR-7 | Monthly return for authorities deducting tax at source | Tax Deductor | 10th of the next month |
| GSTR-8 | Monthly statement for E-Commerce Operator depicting supplies effecting through it. | E-Commerce Operator | 10th of the next month |
| GSTR-9 | Annual Return | Registered Person other than an ISD, TDS / TCS Taxpayer, casual taxable person and Non-resident taxpayer | 31st December of next Financial Year |
| GSTR-9A | Simplified Annual Return under Composition Scheme | Taxable Person opting for Composition Levy | 31st December of next Financial Year |
| GSTR-10 | Final Return | Taxable person whose registration has been surrendered or cancelled | Within three months of the date of cancellation or date of order of cancellation, whichever is later. |
| GSTR-11 | Details of inward supplies to be furnished by a person having UIN | Persons who have been issued a Unique Identity Number(UIN) | 28th of the next month |
The GST Council may extend the deadlines for a spread of reasons.
Quarterly GSTR-1 filing is required for taxpayers with a turnover of up to 1.5 Crore Rupees within the preceding fiscal year or the current fiscal year (ie. QRMP System). Other Registered persons with an annual turnover of quite Rs. 1,5 Crore are required to submit these returns monthly.
Revision of Returns:
The mechanism for submitting revised returns to correct errors or omissions has been eliminated. Corrections of errors and omissions are permitted on the return for the subsequent month (s). However, no corrections are permitted after submitting the return for the month of September following the top of the fiscal year to which the details pertain, or the annual return, whichever comes first.
Interest on Late GST Payment:
Under the GST regime, interest of 18 percent is charged on late tax payments. Interest would be assessed for every day that the tax was not paid by the due date.
Penalty for non-filing of GST Returns:
 If a taxpayer fails to file his/her return by the maturity , he/she are going to be required to pay a late fee of Rs. 200/- per day (up to a maximum of Rs. 5,000) from the maturity until the date the returns are filed.
The GST Council has recommended that, beginning within the month of October 2017, the late fee payable by a taxpayer whose liabilities for that month is “NIL” will be Rs. 20 per day (Rs. 10 per day under the CGST and SGST Acts). Nevertheless, if the liabilities for that month are not ‘NIL,’ the quantity of the late fee is Rs 50 per day (Rs 25 per day under the CGST and SGST Acts).
Why Business Setup in India?
Since our inception as an Official Company Registration Agent, we have maintained close ties with the Ministry of Corporate Affairs, Government of India. From day one, our intention has been to offer a streamlined incorporation procedure that is quick and easy to utilize. Today, our system for company registration is among the most efficient and effective in India. You can file an application for a new company name in slightly more than 5 minutes, and your firm will often be fully registered within 3-5 days. In addition to maintaining affordable pricing for company formation, we are constantly investigating new ways to bring value to our clients. We are proud to be one of the least expensive ways to establish a business in India.
We have the knowledge to advise clients on the appropriate company structure to implement. The majority of our clients want assistance registering a business limited by shares. The limited company structure is prevalent because it permits the distribution of profits to shareholders while safeguarding them through restricted liability. Our team has more than 2 decades of experience founding companies and providing corporate and secretarial services, which aids in the growth of tens of thousands of our clients’ enterprises each year.
We are tremendously passionate about the quality of our service, and we are incredibly proud of the reviews we get from our customers, as evidenced by our outstanding reviews and ratings. Continually, our team is chosen due to the value and skill for which it is renowned. We have helped form the industry by giving our customers innovative business services and packaged solutions that have grown alongside their demands.
Our clients have access to complimentary help from a team of experts. We are always prepared to assist. Throughout the registration of your Company, you will be enabled to contact us by phone or email if you require assistance.
No Hidden Charges
We believe in transparent and straightforward pricing. The price displayed is the price paid. There are no additional fees associated with business registration.
Rapid Service
You can file an application for a new company name in slightly more than 5 minutes, and your firm will often be fully registered within 3-5 days.
20 Years of Expertise
Our staff has over 2 decades of experience, making us specialists in our industry. Take the stress out of establishing your business, and rest easy knowing you have the assistance you need to thrive.
Reliable Service
Today, our customers expect exceptional service. Because of this, we are very pleased that 99 percent of our customers have rated us as "Great" or "Excellent" on Google.
Simplicity
The entire procedure, from ordering to utilizing your company registration license, is designed to be as simple and direct as possible to aid in the growth of your firm.
Privacy and Protection
ustomer confidentiality and safety come first. We safeguard your financial, business, and personal information to the utmost degree.
Let's Deal With Your Confusions
A GST return may be a document or file containing the details of all revenue from sales and output GST thereon, also as all GST purchases and input GST thereon, that a GST Dealer is required to file with the products and Services Tax Authorities/Department. The GST Return contains information like Purchases, Sales, Output Tax, and Input Tax.
Monthly Return on Form GSTR-1 is due by the first of the following month, or the 13th of the month following the quarter if QRMP is applicable.
Monthly Return in Form GSTR-3B by the 20th day of the subsequent month, or if QRMP scheme, by the 22nd (for X category States) and 24th (for Y category States) of the month following the quarter.
Form GSTR-9 Monthly Return Due by New Year's Eve of the Next Financial Year
Monthly Return on Form GSTR-3B due by the 20th of the subsequent month
A quarterly return on Form GSTR-4 due by the 18th of the month following the quarter, and an annual return on Form GSTR-9A due by the 31st of December of the subsequent Financial Year.
A final return may be a GST return. The taxable individual whose registration has been surrendered must file a return within three months of the date of cancellation or the date of cancellation order, whichever is later.
The GST Council has recommended that, beginning within the month of October 2017, the late fee payable by a taxpayer whose liabilities for that month is "NIL" will be Rs. 20 per day (Rs. 10 per day under the CGST and SGST Acts). Nevertheless, if the liabilities for that month is not 'NIL,' the amount of the late fee is Rs 50 per day (Rs 25 per day under the CGST and SGST Acts).
At Business Setup in India, we simplify the process of starting and running a successful business. Our expert team offers comprehensive services, from legal support to accounting and business advisory, tailored to meet the needs of entrepreneurs and companies.
- D-826/3, Swati Clover, Ahmedabad,Gujarat, 380059
- Get in touch
- Get in touch
Business setup in India
Copyright 2024 All Rights Reserved
Copyright 2024 All Rights Reserved
Business setup in India Copyright 2022, All Rights Reserved
- Terms & Conditions
- Privacy Policy
- Legal Notice
