GST Return

GST Return Filing

All you need to know about GST return filing

GST return filing is completely an online process in India. GST filing is very easy and quick process. However, it is necessary that returns are filed correctly and error-free to ensure that GST credit can be passed onto the next stage. All you need is GST website login credentials to get started. Once your GST registration is done, GST return filing is mandatory. Non-filing of of the same entail heavy penalties.

All registered persons under GST are required to file various returns. Main returns to be filed are GSTR-3B (which is a monthly summary) and GSTR 1 (details of outward supplies).

GSTR 3B is to be filed every month by 20th. However, the government has recently introduced new due dates for filing the form GSTR 3B. According to which the 20th of subsequent month would be the due date for the taxpayers whose turnover is above INR 5 crores and for the taxpayers whose turnover is below INR 5 crores, the due date for GSTR 3B would be 22nd for some states and 24th for the remaining states. GSTR 1 is to be filed on a monthly or quarterly basis, depending on the turnover. It is to be filed on 10th of every month or quarter, as the case may be.

Suggested read: Announcement of Government for the due date for GSTR 1 late fees waiver.

Finally, an annual GST return GSTR 9 must be filed by all GST registered entities on/before the 31st of December.

GSTR 4 is to be filed if you have opted for composition scheme. The registered entities will be required to file GST returns even if the entity has not done any business during any period.

Additionally there’s yearly GSTR 9C to be filed, which is GST Annual Audit. It is a reconciliation statement which needs to be certified by a practising Chartered Accountants.

FAQs On Return filings under GST

                           Get answers to all your queries 

• I hold valid GST registration number. I do not have any business activity for a particular month. Do I still have to file my GST Return?

  Yes, as long as you hold GST registration number, you need to file NIL returns, if there are not reportable transactions.

• What is the composition scheme under GST? Can I opt for the same?

  GST Composite scheme is for small traders and manufacturers who wish to avail exemptions under GST. Businesses with sales less than Rs. 150 Lakh can avail this scheme.

• Did I make some errors in filing GST3B? Can I revise the same?

  Return once filed cannot be revised. However, you may give appropriate adjustments in subsequent returns. Get in touch with us to know more on this.

• How long does it take to file a GST Return?

  We adopt a very simple GST Return filing process. Once you submit us the required documents, we usually file a return within 1 working day.

• What should I do if DSC does not work while filing?

  If DSC does not work, you can always file a GST return using other methods which involve an OTP from your registered phone number, your PAN information, and a DSC.

• Which Cities do you provide your services?

  StoxBazar provides GST Return filing services all across India. You can obtain GST Return in Ahmedabad, Mumbai, Pune, Bangalore, Chennai, Delhi, Kolkata, Kanpur, Nagpur, Jaipur or any other cities easily with us.