Return filing is mandatory under GST. Even if there is no transaction, you must file a Nil return. There are few points to note: You cannot file a return if you do not file the previous month/quarter's return.
What is GST Returns?
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, to file GST return 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 QRMP Scheme according to which if the turnover for a business for previous year is up to 5 crores, you can pay your GST on monthly basis and file your GSTR 3B quarterly.
Suggested read: QRMP- Quarterly Return filing & Monthly Payment of Taxes – A Scheme for small Taxpayers.
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.
Price and Plan
Price may varies for different states in India
Filing of one NIL GST return (GSTR 3B or GSTR 1)
GST Annual Return (GSTR 9 or 9A or 9B)
GST Returns for one year (all returns included)
Various Returns under GST
GSTR 3B Filing
GSTR-3B is a monthly self-declaration, which should be filed by every registered person under GST. It is a simplified summary return of inward and outward supplies Due date of filing of GSTR 3B is 20th of the subsequent month. GSTR 3B once filed can not be revised.
GSTR 1 Filing
GSTR 1 is the record of all sales. Under this form, the suppliers will have to report their outward supplies during the reporting month. According to the norm, all the registered taxable persons are required to file the same by the 10th of the following month or quarter.
GSTR 9 Filing
All the taxpayers registered under GST are required to file their annual return in a particular form. That form is called the GSTR 9. Due date of filing of GSTR 9 is 31st December every year. It is a consolidation of all the monthly/quarterly returns filed in that year.
GSTR 9A Filing
Return GSTR 9A is an annual return to be filed by dealers who have opted composition scheme. It includes all the information furnished in the quarterly returns filed by the composition taxpayers during that financial year. It is to be filed on or before is 31st December every year.
GSTR 9C is a statement of reconciliation between the Annual returns filed in GSTR 9 for a financial year and the figures as per the audited annual financial Statements of the taxpayer. The GSTR-9C must be filed on or before 31st December of the subsequent year.
GSTR 4 Filing
GSTR-4 is a Return that has to be filed by a Composition Dealer. Unlike a normal taxpayer who needs to furnish 3 monthly returns, a dealer opting for the composition scheme is required to furnish 1 return which is GSTR-4 on or before 18th of the month subsequent to each quarter.
How to obtain Digital Signature?
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Verification of Documents
Preparation of GST Return
GST Return filed & Ack Generated