Filing GST Returns: How to File, Due Dates, Types, and More

Goods and Services Tax (GST) is a comprehensive indirect tax that has replaced various other taxes in India. Filing GST returns is an essential requirement for businesses and individuals registered under the GST system. It is a mandatory compliance measure that involves reporting business transactions and tax payments made by the taxpayer to the government. This blog will discuss how to file GST returns, the types of GST returns, due dates, and more.

What is a Goods and Service Tax Return?

A Goods and Service Tax return is a document that contains the details of a taxpayer’s income, expenses, and tax liability for a specific period. It is filed with the government to ensure that the taxpayer has paid the correct taxes and to claim the eligible input tax credit.

A taxpayer needs to file various types of GST returns, depending on their business type and turnover. The most common types of GST returns are GSTR-1, GSTR-2A, GSTR-3B, and GSTR-4.

• GSTR-1 is a monthly or quarterly return that contains details of all outward supplies of goods and services made by the taxpayer.
• GSTR-2A is an auto-generated form that contains the details of all the purchases made by the taxpayer from registered suppliers.
• GSTR-3B is a monthly return that contains a summary of all the transactions made by the taxpayer, including details of tax payments.
• GSTR-4 is a quarterly return filed by taxpayers who have opted for the Composition Scheme.

The due dates for filing GST returns vary depending on the type of return and the taxpayer’s turnover. Filing the returns on time is essential to avoid penalties and interest charges.

How to File Goods and Service Tax Returns

Filing Goods and Service Tax (GST), returns is a crucial part of complying with the GST regulations in India. Filing GST returns accurately and on time is essential to avoid penalties and other legal consequences. Here are the steps to file GST returns online:

Step 1: Log in to the GST portal using your registered credentials.

Step 2: Navigate to the ‘Returns Dashboard’ section and select the appropriate return form based on your business activities.

Step 3: Fill in the relevant details, such as your turnover, purchases, and sales for the tax period.

Step 4: Reconcile your data and verify it with the auto-populated values, if any.

Step 5: Preview and submit the GST return form.

Step 6: After submission, an acknowledgment receipt will be generated. You can download and save this receipt for future reference.

Following these simple steps, you can file your GST returns online and stay compliant with the GST regulations.

Who Should File Goods and Service Tax Returns?

As per the GST regulations in India, every registered person/business with a GST registration must file GST returns. It also includes individuals, sole proprietors, partnerships, LLPs, companies, and other entities registered under GST. It is mandatory to file GST returns even if there is no business activity or sales during a particular tax period.

Furthermore, GST returns must be filed by taxpayers registered under different types of GST, such as regular, composition, or special schemes. Please file GST returns on time to avoid hefty penalties and legal action, so ensuring compliance with the GST regulations is crucial.

What are Penalties for Late Filing of GST Returns

Late filing of GST returns can lead to various penalties and consequences. The penalty for late filing of GST returns includes a late fee and interest on the outstanding tax liability. The late fee is charged at Rs. 50 per day for each return, i.e., Rs. 25 under CGST and Rs. 25 under SGST. The maximum late fee can be charged is Rs. 5,000 per return.

Additionally, interest is charged at a rate of 18% per annum on the outstanding tax liability from the due date of filing till the actual date of payment. Late filing of GST returns can also lead to the cancellation of the GST registration and difficulty obtaining various government tenders.

Filing GST returns accurately and on time is essential to avoid these penalties and consequences. Hence, businesses should ensure the timely filing of GST returns to comply with the GST regulations and avoid incurring any penalties.

What are the Different Types of GST Returns

Under India’s Goods and Services Tax (GST) regime, there are various types of GST returns that a registered taxpayer may be required to file. Here are some of the different types of GST returns:

• GSTR-1: This return is used to report the details of outward supplies made during the tax period by the taxpayer.
• GSTR-2A (View Only): It is an auto-populated return that reflects the details of inward supplies made by the supplier on behalf of the recipient.
• GSTR-2B (View Only): It is an auto-drafted return that reflects the details of inward supplies made by the supplier.
• GSTR-3B: This is a summary return that a registered taxpayer must file. It summarizes all inward and outward supplies made during the tax period.
• GSTR-4: This return must be filed by taxpayers registered under the composition scheme.
• GSTR-9: This return is an annual return that is required to be filed by every registered taxpayer.

How to Download Goods and Service Tax Returns Form?

Filing GST returns is an essential requirement for all businesses registered under GST. It is necessary to have the appropriate GST return forms to file GST returns. Here are the steps to download GST return forms:

• Visit the GST portal at https://www.gst.gov.in/.
• Click on ‘Services’ and select ‘Returns’ and then ‘Return Dashboard.’
• Select the month/year for which you want to file the return and click ‘Prepare Offline.’
• Navigate to the ‘Download’ section and select the return form you wish to download.
• Click ‘Generate File’ and then ‘Download’ the ZIP file containing the GST return form.
• After downloading the GST return form, you can fill it out offline and upload it on the GST portal to file the return.

How to Check GST Return Filing Status?

After filing the GST return, it is essential to check the status of the return to ensure that it has been filed successfully. Here are the steps to check the GST return filing status:

• Visit the GST portal at https://www.gst.gov.in/.
• Enter your login credentials and click ‘Services,’ followed by ‘Returns,’ and then ‘Track Return Status.’
• Select the ‘Status of Return’ option from the drop-down menu.
• Enter relevant details such as GSTIN and Return filing period, then click ‘Search.’
• The return status will be displayed, which can be ‘To Be Filed,’ ‘Filed – Valid,’ ‘Filed – Invalid,’ or any other status depending on the return processing status.
• Checking the GST return filing status regularly can help businesses ensure that their returns have been filed successfully and avoid penalties for late filing or non-filing of returns.

Due Dates for Goods and Service Tax Return Filing

Filing GST returns is a critical compliance requirement for businesses registered under GST. It is important to file returns on time to avoid any penalties or late fees. The due dates for GST return filing can vary depending on the type of GST return. Here is a table of the due dates for different GST returns:

It is important to note that the due dates for GST return filing may change occasionally, and businesses should keep themselves updated with the latest notifications issued by the GST Council.

How Does Easebuzz Come into Play?

Easebuzz is a leading digital payments platform offering various products and services to help businesses streamline their operations. Some of the essential products offered by Easebuzz are:

Tax Payment: 

Easebuzz provides a simple and hassle-free way to make tax payments online. Businesses can use the platform to pay their GST, income tax, and other taxes easily and securely.

Neo Banking: 

Easebuzz also offers a range of neo-banking services to businesses, including virtual bank accounts, business loans, and credit cards. These services can help businesses manage their finances more efficiently and access credit when needed.

Overall, Easebuzz is a one-stop shop for all the financial needs of businesses, providing them with the tools and services they need to manage their finances effectively and grow their business.

Conclusion:

GST return filing is a crucial compliance requirement for businesses registered under GST in India. It is important to file returns on time to avoid any penalties or late fees. There are different types of GST returns, and their due dates can vary depending on the form. To make GST return filing easier, businesses can use online platforms like Easebuzz to make tax payments and manage their finances efficiently. Businesses must keep themselves updated with the latest GST regulations and due dates to ensure compliance and avoid penalties.

FAQ’s

1. How can I file a nil GST return through SMS?

To file a nil GST return through SMS, type NIL (space) GSTIN (space) month in MM format (space) year in YYYY format and send it to 14409 or 14401.

2. What is the process for filing a GST return online?

To file a GST return online, you need to login to the GST portal, select the appropriate return form, fill in the details, and submit it.

3. Do I need to pay GST every month?

The frequency of GST payment depends on the type of registration and turnover. Regular taxpayers need to pay GST on a monthly basis, while those registered under the Composition Scheme pay it quarterly.

4. Is it possible to revise a GST return that has already been filed?

Yes, it is possible to revise a GST return that has already been filed on the GST portal.

5. What is the penalty for not filing GST returns?

The penalty for not filing GST returns is Rs. 50 per day (CGST + SGST) and Rs. 100 per day (IGST). The maximum penalty is 0.25% of the taxpayer’s turnover in the respective state/UT.