GST Returns

GST returns are an important part of the tax calculation process. They are used by tax administrative agencies to determine the amount of money you need to pay each year.

HIGHLIGHTS

GST Return

GST Return

GST returns are an important part of the tax calculation process. They are used by tax administrative agencies to determine the amount of money you need to pay each year.

It is imperative you complete and Files a GST return in accordance with all stated terms and conditions. If you file the document incorrectly, file it after the deadline date or fail to file it, you may be subject to a penalty fine.

If you do not file the necessary documents and provide information about your current salary, the government cannot calculate your tax payments correctly and may assume you are trying to evade your financial responsibilities. It may damage your compliance rating and ability to claim refunds.

Composition dealers are subject to special requirements. Please make sure you are familiar with these before you file.

Included GST Return

What Must Be Included in a GST Return?

To be accepted, your tax return must use GST compliant purchase and sales invoices. There are free templates available at Clear Tax Bill Book.

In accordance with GST terms, registered dealers must provide the following information as part of their tax return:

  • Sales (income)
  • Purchases (expenses)
  • Output GST (on sales)
  • Input tax credit (GST paid on purchases)
File a GST Return

Do All Registered Businesses Need to File a GST Return?

GST terms state that each year, registered businesses must submit a total of twenty-six completed returns. This includes two returns per month and one larger annual GST document. of the two monthly filings, only one (GSTR-1) requires the filer to manually input all details. The second monthly return (GSTR 3B) is autocompleted using information from the previous document. However, it is still important you check all details are correct before sending each return to the tax agency.

Why Are There Different Types of GST Return?

The following is a breakdown of all the different types of GST return and what they mean. Please use this information to determine which document you need to complete.

All information is correct and in accordance with the CGST Act at the time of writing.

GSTR-1

  • A full account of outward supplies of relevant taxable commodities and/or services
  • Returned monthly by the 11th of the month proceeding the accounted month

GSTR-3B

  • A basic return to outline input tax credit and any relevant outward supplies
  • Returned monthly by the 20th of the month proceeding the accounted month

GSTR-4

  • A return to be filed only by composition dealers registered in accordance with the composition levy
  • Returned every four months by the 18th of the quarter proceeding the accounted quarter

GSTR-5

  • A return to be filed only by a person who is tax liable and not living in India at the time of filing
  • Returned monthly by the 20th of the month proceeding the accounted month

GSTR-5A

  • A return to be filed only by a person who is tax liable, not living in India at the time of filing and currently providing OIDAR services
  • Returned monthly by the 20th of the month proceeding the accounted month

GSTR-6

  • A return to be filed by an input service distributor
  • Returned monthly by the 13th of the month proceeding the accounted month

GSTR-7

  • A return to be filed by organizations that are paying tax consistently throughout the year (rather than at specified points throughout the year)
  • Returned monthly by the 10th of the month proceeding the accounted month

GSTR-8

  • A return that accounts for the details of supplies effected through an e-commerce provider and the quantity of tax accumulated
  • Returned monthly by the 10th of the month proceeding the accounted month

GSTR-9

  • A standard tax return to be filed by a standard tax individual
  • Returned annually by the 31st of the year proceeding the accounted year

GSTR-9A

  • A yearly return be filed only by composition dealers registered in accordance with the composition levy
  • Returned annually by the 31st of the year proceeding the accounted year

GSTR-10

  • A return detailing the last financial months of an organisation due to disband or become bankrupt (GST expiry)
  • Returned within three months of GST registration expiring or being terminated

GSTR-11

  • A return that accounts for the details of inward supplies to be completed only by an individual in claim of UIN and requesting a refund
  • Returned monthly by the 28th of the month proceeding the accounted month

The Importance of Filing Your Return by the Correct Date

If you fail to file your GST return by the date specified, you may incur a penalty. So, make sure you know the date for your filing and stay aware of any changes to it.

For instance, it’s common for some GST returns to be pushed back to a date later than the original. You must still comply with the filing date but there may be extra weeks or months in which you can complete your documents.

The following is a list of all impending GST filing dates:

  • GSTR-1 (monthly) :- 11th of January, 11th of February, 11th of March, 11th of April
    All relevant businesses earning over 1.5 crore rupees are expected to complete a monthly GST return.
  • GSTR-1 (quarterly) :- 31st of January, 30th of April
    All relevant businesses earning below or equal to 1.5 crore rupees are expected to complete an annual GST return.
  • GSTR-3B :- filing date extended until March 2019
    All relevant organizations or individuals filing this return must file by the 20th of the month
  • GSTR-4 :- 18th of January, 18th of April
  • GSTR-5 and GSTR-5A :- Returned monthly by the 20th of the month proceeding the accounted month
  • GSTR-6 :- Returned monthly by the 13th of the month proceeding the accounted month
  • GSTR-7 :- 31st of January, 10th of February, 10th of March, 10th of April
  • GSTR-8 :- 31st of January, 10th of February, 10th of March, 10th of April
  • GSTR-9, GSTR-9A and GSTR-9C :- 31st of March 2019

A Special Notice Concerning Businesses Operating in Gaza and Title

Due to the disruption caused by cyclones in the regions of Gaza and Titli, resident businesses have the option to extend their GST returns. Please check with your local tax administrative agency to confirm whether or not you’re entitled to an extension.

Please note some areas of Kodagu, Kerala and Mahe which have been disrupted by recent floods may also be entitled to an extended GST filing. Taxpayers are responsible for confirming these details and ensuring their returns are filed correctly.

What Happens If a GST Return Is Not Filed by the Given Date?

GST returns that are filed late (after the deadline) or completed incorrectly may incur a penalty fine and/or accrue interest payments on tax already owed.

If interest is charged, the rate is 18% per year of tax owed. Interest will be charged until all outstanding tax for the accounted period has been paid.

Businesses or individuals incurring penalty fines are expected to pay 100 rupees per day per return. The largest penalty anyone GST filer can be charged is 5,000 rupees.

if for any reason, you struggle to complete or return the relevant GST documents, you must seek help from a tax agent or advisor. You are expected to find assistance in a timely manner so that you can still file your return on time. You may not be eligible for an extension or a reparation of expenses incurred due to late filing.

While the dates and details outlined in this guide may seem complex, the tax agency’s online filing software is designed to make the process quick and simple.

AVAILABLE PACKAGES

GST (Nil) Return Filing

199
Includes all taxes

GST (Nil) Return Filing Regular Scheme (GSTR-1/GSTR3B)

GST Return Filing Regular Scheme

392
Includes all taxes

GST Return Filing Regular Scheme (GSTR-1/GSTR-3B)

GSTR Return Filing Composition Scheme

784
Includes all taxes

GSTR Return Filing Composition Scheme (GSTR-4)

GST Annual Return

1499
Includes all taxes

GST Annual Return (GSTR 9/9A)

GST Final Return

1399
Includes all taxes

GST Final Return (GSTR 10)

GST Regular Return filing

3999
Includes all taxes

GST Regular Return filing(Annual charges)