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Gst Return Filing

Service Name

GST return is a form that which the Tax payer registered under GST is required to file with Authorities which will contain all the details of your sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). Once you file GST returns, you will need to pay the resulting tax liability (money that you owe the government).

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Details about GST Return

GST return is a form that which the Tax payer registered under GST is required to file with Authorities which will contain all the details of your sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). Once you file GST returns, you will need to pay the resulting tax liability (money that you owe the government).

 

Regular businesses with an annual aggregate revenue of more than Rs. 5 crore (as well as taxpayers who did not choose the QRMP plan) are required to file two monthly returns and one yearly return under the GST system. Each year, this results in 25 returns.

 

The QRMP plan allows taxpayers with a revenue of up to Rs. 5 crore to file returns. Each year, QRMP filers must submit nine GSTR files, 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.

 

There are also separate statements/returns required to be filed in special cases such as composition dealers where the number of GSTR filings is 5 each year (4 statement-cum-challans in CMP-08 and 1 annual return GSTR-4).

 

Types of GST Returns & Frequency

Return Form

Description

Frequency

Due Date

GSTR-1

Details of outward supplies of taxable goods and/or services affected.

Monthly

11th of the next month.

Quarterly (If opted under the QRMP scheme)

13th of the month succeeding the quarter.

IFF (Optional by taxpayers under the QRMP scheme)

Details of B2B supplies of taxable goods and/or services affected.

Monthly (for the first two months of the quarter)

13th of the next month.

GSTR-3B

Summary return of outward supplies and input tax credit claimed, along with payment of tax by the taxpayer.

Monthly

20th of the next month.

Quarterly (For taxpayers under the QRMP scheme)

22nd or 24th of the month succeeding the quarter***

CMP-08

Statement-cum-challan to make a tax payment by a taxpayer registered under the composition scheme under Section 10 of the CGST Act.

Quarterly

18th of the month succeeding the quarter.

GSTR-4

Return for a taxpayer registered under the composition scheme under Section 10 of the CGST Act.

Annually

30th of the month succeeding a financial year.

GSTR-5

Return to be filed by a non-resident taxable person.

Monthly

20th of the next month.
(Amended to 13th by Budget 2022; yet to be notified by CBIC.)

GSTR-5A

Return to be filed by non-resident OIDAR service providers.

Monthly

20th of the next month.

GSTR-6

Return for an input service distributor to distribute the eligible input tax credit to its branches.

Monthly

13th of the next month.

GSTR-7

Return to be filed by registered persons deducting tax at source (TDS).

Monthly

10th of the next month.

GSTR-8

Return to be filed by e-commerce operators containing details of supplies effected and the amount of tax collected at source by them.

Monthly

10th of the next month.

GSTR-9

Annual return by a regular taxpayer.

Annually

31st December of the next financial year.

GSTR-9C

Self-certified reconciliation statement.

Annually

31st December of the next financial year.

GSTR-10

Final return to be filed by a taxpayer whose GST registration is cancelled.

Once, when the GST registration is cancelled or surrendered.

Within three months of the date of cancellation or date of cancellation order, whichever is later.

GSTR-11

Details of inward supplies to be furnished by a person having UIN and claiming a refund

Monthly

28th of the month following the month for which statement is filed.

ITC-04

Statement to be filed by a principal/job-worker about details of goods sent to/received from a job-worker

Annually
(for AATO up to Rs.5 crore)


Half-yearly
(for AATO > Rs.5 crore)

25th April where AATO is up to Rs.5 crore.



25th October and 25th April where AATO exceeds Rs.5 crore.

(AATO = Annual aggregate turnover)

Penal Provisions

If GST returns are not filed within the specified time limits, you will be liable to pay interest and a late fee.

 

Interest is charged at 18% per annum. It has to be calculated by the taxpayer on the amount of outstanding tax to be paid. The time period will be from the next day of filing to the date of payment.

 

Late fees are charged at Rs.100 per day per Act. Hence, it will be Rs.100 under CGST and Rs.100 under SGST. The total will be Rs.200 per day, subject to a maximum of Rs.5,000. Please note that from the month of/quarter ended June 2021, the maximum amount of late fees has been revised as below.

Taxpayer Category

Late Fees

Taxpayers whose total amount of central tax payable is Nil

Rs.250

Taxpayers with an annual aggregate turnover up to Rs.1.5 crore in the previous financial year

Rs.1,000

Taxpayers with an annual aggregate turnover exceeding Rs.1.5 crore and up to Rs.5 crore in the previous financial year

Rs.2,500

Required Information / Documents

Sales Invoices for the reporting month of GST Return

Purchase Invoices for the reporting month of GST Return

GST Login Credentials

 

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FAQs

'Nil' return can be filed by you for a particular tax period, if you have not made any outward supply (commonly known as sale) and have NOT received any inward supply (commonly known as purchase) of any goods/ services and do not have any tax liability for that particular tax period.

The GST Law also provides that the return furnished by a taxable person shall not be treated as valid return unless the full tax due as per the said return has been paid. It is only the valid return that would be used for allowing input tax credit (ITC) to the recipient.

The input claimed on the missing invoices by the recipient shall be filed by the seller within the next two tax periods from the input claimed by the recipient. If the same is not filed by the supplier, the input claimed by the recipient shall be reversed with interest and penalty.

The supplier of goods or service is liable to pay GST. However in specified cases like imports and other notified supplies, the liability may be cast on the recipient under the reverse charge mechanism.

If you don't file the GST returns that are required to be filed under the law, then late fees will apply for every day of default that occurs. Further, if there is any tax due, then interest will apply at the rate of 18% per annum on the tax liability.

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