GST Return filing
| Market Price: | ₹3200 |
|---|---|
| Professional Services Price: | ₹2142incl. GST |
| Government Fee: | Included |
GST Return Filing
What is GST return filing?
Businesses that are registered under GST have to file the GST returns monthly, quarterly, and annually based on the business. Here it is necessary to provide the details of the sales or purchases of the goods and services along with the tax that is collected and paid. Implementation of a comprehensive Income Tax System like GST in India has ensured that taxpayer services such as registration, returns, and compliance are in range and perfectly aligned.
An individual taxpayer filing the GST returns has to file 4 forms for filing the GST returns such as the returns for the supplies, returns for the purchases made, monthly returns, and the annual returns.
GST return filing in India is mandatory for all the entities that have a valid GST registration irrespective of the business activity or the sales or the profitability during the period of filing the returns. Hence, even a dormant business that has a valid GST registration must file the GST returns.
GST return is a document that contains the details of all the income or the expenses that a taxpayer is required to file with the tax administrative authorities.
Eligibility Criteria
Who should file the GST returns?
GST Return filing in India is to be done by the following:
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Online GST Return Annual Filing- GST Filing & GST payment just one click!!
According to New GST registration Process, applicant is required to register if annual sales are more than Rs. 40 Lakh but if your sales are below Rs. 40 Lakh, we recommend to voluntarily opt for GST registration for following reasons:
- To get tax refunds on purchases (e.g. if you buy goods valuing Rs 1 lakh in a year, and tax rate is 28% – you will lose tax refund of Rs. 28,000).
- To sell outside your state
Under the new GST regime, a registered dealer under the GST Act has to periodically furnish the details of sales and purchases along with tax collected and paid thereon to the government by filing GST return online.
GST return can be filed in different GST return form depending upon the nature of transaction and registration. GST return form that are applicable for Normal Tax payers and their GST return date are:
- Monthly Details of outward supplies of taxable goods and/or services affected in FORM GSTR-1 to be filed by 11th of the next month.
- Monthly Details of inward supplies of taxable goods and/or services affected in FORM GSTR-2 to be filed by 15th of the next month.
- Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of tax in FORM GSTR-3 to be filed by 20th of the next month.
- Annual Filing of GST return form in FORM GSTR 9 to be filed by 31st December of next financial year.
- GST Return form for a summary of outward supplies along with input tax credit declared and payment of tax affected by taxpayer in FORM GSTR-3B to be filed by 20th of the next month.
Different GST return form are required to be filed by special cases such as composition dealers.
How to File GST Return Online?
Steps For Filing GST Annual Return Online Are As Follows:
- Taxpayer will upload final GSTR-1 return either directly through data entry in the GST Common Portal or by uploading the file containing the said GSTR-1 return
using the software or apps provided by GSTN by the 11th day succeeding the month.
Provisional GSTR-2 of taxpayer will be auto-generated.
Purchasing taxpayer will have option to either accept, reject or modify that provisional GSTR-2.
Purchasing taxpayer can also add additional purchase invoice details in his GSTR-2 which have not been uploaded by the supplier as mentioned in Step 1&2
Taxpayers will also have option to reconcile inward supplies with suppliers during the next 7 days for any missing supply invoices in the GSTR-1 of the suppliers.
Taxpayers will finalize their GSTR-1 and GSTR-2 return.
Taxpayers will pay the amount as shown in the draft GSTR-3 return generated automatically at the online Portal Post finalization of activities mentioned above in Step 6.
Taxpayer will debit the both ITC, cash ledger, and mention the debit entry number in the GSTR-3 return and would submit the same.
Documents Required for GST Annual Return Filing
GST Filing: A Step-By-Step Guide
Step 1
Submit the information of sale purchase in a specified format we provide
Step 2
We fill up, review and submit return
Step 3
We provide you the filing completion confirmation
What is included in our Package?
- Filing the return
- Review of Input Tax Credit
- Review of GST payable
- Submitting the return