GST Return Filing Service
There are many returns under GST that a taxpayer has to file with the GSTIN; our team of GST Practitioners, chartered accountants, and tax advocates are available to assist you with filing the GST return accurately and always on time. 100% Online Order & Tracking, Chat with the startup specialist to get started.
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GST Return filing mandatory
What is a GST Return?
A GST return is a document containing details of all income/sales and/or expenses/purchases that a GST-registered taxpayer (every GSTIN) is required to file with the tax administrative authorities. This is used by tax authorities to calculate net tax liability.
Under GST, a registered dealer has to file GST returns that broadly include:
- Purchases
- Sales
- Output GST (On sales)
- Input tax credit (GST paid on purchases)
Pricing
(Simple & Clear Pricing. No Hidden Charges)
| Government Fee | Rs 0 |
| Professional Fees | Rs 1,459 |
| Goods & Service Tax | Rs 00 |
| Total Cost | Rs 1459 |
How to File GST Returns Online?
(All you need to know)
From manufacturers and suppliers to dealers and consumers, all taxpayers have to file their tax returns with the GST department every year. Under the new GST regime, filing tax returns has become automated. GST returns can be filed online using the software or apps provided by Goods and Service Tax Network (GSTN) which will auto-populate the details on each GSTR forms.
1. Register for GSTIN: For those taxpayers who are not registered, you need to register to get the GSTIN number. It is a 15-digit number that is generated based on your state code of operation and PAN.
2. Log in to the GST portal: You must log in to the GST portal (https://www.gst.gov.in/) using your username and password and then click on the tab called ‘Services’.
3. Returns dashboard: You will see an option called the ‘Returns dashboard’. Click on that. You will be asked to choose a financial year for which you are filing the GST return. Choose the appropriate one from the drop-down menu provided.
4. Prepare online: You must then select the return you wish to file. You will be given options of how you wish to file. For the online GST return process, click on the ‘Prepare Online’ option.
5. Enter details: You will need to enter all the details correctly in the fields provided. Note that if you have any pending late fees, you must fill in the details of that as well when you are filing your GST returns. Next, you need to save the form and then submit it..
6.Check submission status: When the GST return form has been submitted, you need to ensure the status of the GST return has been changed to ‘Submitted’.
7.Tax payment: When the status shows the return has been submitted, then you need to click on ‘Payment of Tax.’ You will see a ‘Check Balance’ option which you need to click. The balance shown will reveal the credit and cash balance.
8. Offset liability: You must click on the option that says ‘Offset Liability’ to make the GST payment online in a few minutes. You need to then check the relevant boxes for declaration purposes. Then click on ‘File Form with DSC’/’File Form with EVC’ and then make the payment..
Types of GST return
- GSTR 1: Purpose of this return is to furnish details of all sales including B2B and B2C. Due date of this return is 10th of every month and in case of a quarterly return, the end of next month of every quarter.
- GSTR 3B: This is a summary return with details of net tax liability based on the output & input tax. Due date of this return is 20th of every month.
- GSTR 4: A business who opt for composition scheme and needs to pay to subsidize GST rates from 1% to 5% & file this quarterly return.
- GSTR 1A: The purpose of this return is to rectify/resolve the mismatch in sales figures with your customers to whom you raise the tax invoice.
- GSTR 8: An e-commerce operator who needs to collect TCS (Tax collected at source) under GST requires to file this return till 10th of every month.
- GSTR 9: This is the Annual GST return, which is to be filed by all registered persons till 31st March of every financial year.
Penalty for late filing of GST Returns
A penalty will be levied on the taxpayer in case he/she fails to file the returns on time. This penalty is called the late fee. As per the GST Law, the late fee is Rs.100 for each day for each Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST). Thus, the total fine amount will be Rs.200 per day. However, this rate is subject to changes which will be announced through notifications. The maximum amount of fine that can be levied is Rs.5,000. Integrated GST or IGST does not attract any late fee in case the return filing is delayed. The taxpayer will also be required to pay an interest at the rate of 18% p.a. in addition to the late fee. This interest has to be calculated by the taxpayer on the amount of tax that is to be paid. The time period will be calculated from the day following the filing deadline till the date when the actual payment is made.
Why should you file GST returns on time?
Failing to file GST Returns on time will attract a penalty of INR 200 per day and maximum up to INR 5000 of each return
Filing GST Returns on time will let your customers claim input credit smoothly hence maintain a healthy relationship with good prospects
Government of India has proposed to start the compliance rating system under which scorecard of every GST registrant shall be maintained. As a matter of fact, timely GST return filing is one of the key factors to compute such rating.
Evidently, timely and accurate GST Return filing helps a taxpayer a lot while applying for loans from a bank or financial institutions. The Banks ascertain a taxpayer's credibility on the basis of his GST Returns.
In order to compel the businesses for regular compliance and GST return filing, the finance ministry has now restricted E-Way bill generation for transportation of goods, in case the trader has not filed GST returns for 2 successive months.
More Question? A specialist is here to help
Call us at: +91 820 956 9514 or
Email us: info@taxtorium.com
Frequently Asked Questions
Can I file my own GST returns?
You can file your GST returns yourself if you wish but as there are many careful considerations that need to be kept in mind when filing the returns, it is best if you take the help of an experienced CA or a software tool. You can use a robust solution such as TallyPrime that automatically checks for errors so you can rectify them prior to filing your GST returns. It also enables you to generate GST-compliant invoices for hassle-free GST return filing later on.
Do we need to file GST returns every month?
The GSTR-1 is required to be filed on a monthly basis unless you have opted for the QRMP scheme. The GSTR-1 must be filed by every single normal registered taxable person. GSTR-1 doesn’t need to be filed by the input service distributor, the composition taxpayer, the persons liable to deduct tax
How many days do you require to process the return?
We require at least three working days to file the return from the date of receipt of all the sales and purchase details along with payment.
Do I have to pay the same fee even in case of NIL return?
Yes, we charge a flat fee from our customer irrespective of the turnover or the number of transactions.
Do you provide any acknowledgement for the return filled?
Yes, we will share all the acknowledgement via email as well as WhatsApp after every return which we will file on your behalf.
What is the process of refund of the fee paid to Taxtorium?
Just sent us an email on info@taxtorium.com and we will process a complete refund of the fee paid to us.
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