GST Return Filing
Take the burden off from GST compliance worries - Just One Click
Easily file all monthly returns with the annual return at the lowest price in India.
√ Information Collection
Our expert will set up a seamless process for data collection.
√ Return Preparation
Your GST return will be prepared when as required
√ Return Filing
Before you know it, your GST return will be ready for filing.
All About Return Under GST
To meet the concept of digital India, the Government of India made it mandatory to file all returns electronically.
Moreover, one of the basic features of the returns mechanism in GST indude electronic filing of returns, uploading of invoice level information and auto-population of information relating to Input Tax Credit (ITC) from returns of supplier to that of recipient, invoice-level information matching and auto reversal of Input Tax Credit in case of mismatch.
The returns mechanism is designed to assist the taxpayer to file returns and avail ITC.
Under GST, a regular taxpayer needs to furnish monthly returns and one annual return. There are separate returns for a taxpayer registered under the composition scheme, non-resident taxpayer, taxpayer registered as an Input Service Distributor, a person liable to deduct or collect the tax (TDS/TCS) and a person granted Unique Identification Number.
However, the return filing process is under review and is yet not finalized. A simplified monthly return in Form GSTR 3B was introduced in July, 2017 to help businesses to file returns easily in the initial months of GST roll out. This was to be followed with filing of returns – GSTR – 1, 2 and 3.
Further to ease the compliance requirements for small tax payers, the GST Coundl allowed taxpayers with annual aggregate turnover up to ₹1.5 Crore to file details of outward supplies in Form GSTR-1 on a quarterly basis and on monthly basis by taxpayers with annual aggregate turnover greater than ₹1.5 Crore.
The GST Council also recommended to postpone the date of filing of Forms GSTR-2 (details of inward supplies) and GSTR-3 (monthly return) for all normal tax payers, irrespective of tumover, till further announcements were made in this regard.
The return process has still not been streamlined and the GST Council has extended GSTR-3B filing requirement till end of March, 2019.
What is GST return?
Every registered person shall furnish, electronically, the details of inward and outward supplies of taxable goods or services through GST return filing. The GST return is basically a statement of inward and outward supplies, which is needed as per the Indian indirect tax authorities of law, to be filed. It will be used for the purpose of calculating the tax liability of the registered person by the authorities of indirect tax.
An insight into the GST filing procedure in India
♦ GSTR-1: GST is a destination-based consumption tax; hence the tax revenue is transferred to the State which is the place of supply of the particular transaction. Since, the place of supply is crucial for determining the share of every State in the tax revenue, GSTR-1 also captures information relating to place of supply in almost all the tables.
The registered person is required to furnish details of invoices and revised invoices issued in relation to supplies made by him to registered and unregistered persons during a month and debit notes and credit notes in GSTR-1.
♦ GSTR-3: A monthly return in Form GSTR-3 for every registered person, other than an input service distributor or a nonresident taxable person or a composition tax payer, person deducting tax at source, electronic commerce operator and supplier of OIDAR services. GSTR-3 is to be filed by 20th day of the month succeeding the relevant calendar month or part thereof.
However, filing of GSTR-3 has been deferred by the GST Council till the date.
♦ GSTR-3B: Currently, return in Form GSTR-3B is being notified as the monthly return to be filed by the registered persons who are required to file GSTR-3. Presently, the due date of submission for GSTR-3B is being notified as 20th day of the month succeeding the relevant month.
GSTR-3B can be submitted electronically through the common portal, either directly or through a notified Facilitation Centre GSTR-3B is a simple return containing summary of outward supplies, inward supplies liable to reverse charge, eligible ITC, payment of tax etc. Thus, GSTR-3B does not require invoice-wise data of outward supplies.
♦ GSTR-4: Return for composition supplier
- Person eligible to file return, periodicity and form of return
Every registered person paying tax under section 10 i.e., composition supplier will file a quarterly return in FORM GSTR-4 electronically through the common portal either directly or through a notified Facilitation Centre. - Due date for filing GSTR-4
GSTR-4 should be furnished by 18th of the month succeeding the relevant quarter.
Due date of filing quarterly GSTR-4 : By 18th day of the month succeeding the relevant quarter. - Auto-population of inward supplies
The inward supplies of a composition supplier received from registered persons filing GSTR-1 will be auto populated in FORM GSTR-4A. The composition supplier can view the auto-populated details of inward supplies in GSTR-4A.
♦ GSTR-5: RETURN FOR NON-RESIDENT TAXABLE PERSONS
Non-Resident Taxable Persons (NRTPs) are those suppliers who do not have a business establishment in India and have come for a short period to make supplies in India. They would normally import their products into India and make local supplies.
- Monthly return: A registered NRTP is not required to file separately the Statement of Outward Supplies, Statement of Inward Supplies and Return for a normal tax payer. In place of the same, a simplified monthly tax return has been prescribed in Form GSTR-5 for a NRTP for every calendar month or part thereof. NRTP shall incorporate the details of outward supplies and inward supplies in GSTR-5.
- Last date of filing return: The details in GSTR-5 should be furnished within 20 days after the end of the calendar month or within 7 days after the last day of validity period of the registration, whichever is earlier.
- Payment of interest, penalty, fees or any other amount payable: NRTP shall pay the tax, interest, penalty, fees or any other amount payable under the CGST Act or the provisions of the Returns Chapter under CGST Rules, 2017 till the last date of filing return.
♦ ANNUAL RETURN: This return needs to be filed by 31st December of the next Financial Year. In this return, the taxpayer needs to furnish details of expenditure and income for the entire Financial Year.
♦ REVISION OF RETURNS: The mechanism of filing revised returns for any correction of errors/omissions has been done away with. The rectification of errors/omissions is allowed in the subsequent returns. However, no rectification is allowed after furnishing the return for the month of September following the end of the financial year to which such details pertain or furnishing of the relevant annual return, whichever is earlier.
♦ PENAL PROVISIONS RELATING TO RETURNS
- Any registered person who fails to furnish statements and returns u/s 39, Final Return within the due dates.
- Shall be liable to pay a late fee of ₹50 per day,
- subject to a maximum of ₹5,000
Online GST Return Filing Procedures - A detailed filing process
In total, there are 3 steps to be followed in the GST return filing work for every Indian registered person.
STEP 1: BUSINESS DOCUMENTS AND MONTHLY RETURNS INVOLVED IN THE GST RETURN FILING PROCESS
The registered person can follow the filing format and submit their annual return electronically through the common portal. For this, you will have to maintain all the records electronically of the all invoices. We can help you with filing process within the GST portal by setting up simplified versions of excel utility. It will help you to maintaining all the records organized way.
STEP 2: TIME TO PREPARATION FOR GST RETURN FILING PROCEDURE
Our representative collect all the information and documents needed to start preparing for your GST returns first. LegalMaps will maintain the invoice records of registered persons and by end of the month, you can easily file the GST returns with the help of our exclusive team of experts. Once you do the filing process electronically in GST portal, from then on, LegalMaps will remind you about the filing date so that you won’t forget the date and end up paying tax penalties.
STEP 3: BELOW FIVE STEPS REQUIRED TO COMPLETE THE RETURNS FILING PROCESS THROUGH US
- The 1st step: Before filing your GST will be to review the GST filing before submission. We, at LegalMaps, give you an opportunity to do the same.
- The 2nd step: Is your approval.
- The 3rd step: After your final approval, we will be filing your online returns
- The 4th step: Our GST experts will file the GSTR returns online. The Application Reference Numbe (ARN) number generated will be shared with you.
- The 5th step: Once the process is successfully done, you will get an acknowledgement about the same to the registered email id provided by you.
FAQs on GST Return Filing Process
Yes, you can easily apply for GST Registration online. Now you can register your business on the official GST portal and then scan and upload all the documents when it required. Then you will receive an acknowledgement on your registered e-mail or mobile number. On acceptance a GSTIN will be generated for the application and a temporary password and login will be sent to your registered e-mail or mobile number. After that you will get a GSTIN for your business with unique 15-digit ID.
Every supplier of goods or services or both is required to obtain registration in the State or the Union territory from he makes the taxable supply if agregate turnover exceeds ₹ 20 lakhs for the supplier of services and ₹ 40 lakhs for the supplier of goods in a FY. Also, taxpayers with a turnover of less than ₹ 1.5 crores can opt for composition scheme.
However, an option to choose between ₹ 20 lakhs and ₹ 40 lakhs if the person is carrying out business in the Special Category States (States of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand).
No. In the North East states or the Union territory of India, the GST threshold limit comes to ₹ 20 lakhs for the supplier of services and ₹ 40 lakhs for the supplier of goods in a financial year for all types of businesses. Whereas, in states like Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand; the threshold limit is an option to choose between ₹ 20 lakhs and ₹ 40 lakhs.
The objective of composition scheme is to bring simplicity and to reduce the compliance cost for the small taxpayers. Small taxpayers with an aggregate turnover in a preceding financial year is less than ₹ 1.5 crores shall be eligible for composition levy. However, the limit remains ₹ 75 lakhs for Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand.
Suppliers opting for composition levy need not worry about the classification of their goods or services or both, the rate of GST applicable on the same, etc. They are not required to raise any tax invoice, but simply need to issue a Bill of Supply. wherein no tax will be charged from the recipient.
At the end of a quarter, the registered person opting for composition levy would pay a certain *specified percentage of his turnover of the quarter as tax, without availing the benefit of input tax credit.
*Specified percentage are:
> 0.5% of the turnover in State or turnover in Union territory in case of a manufacturer, i.e Total 1% GST for manufacturer.
> 2.50% of the turnover in State or turnover in Union territory in case of persons engaged in making supplies of food / drink for human consumption, i.e Total 5% GST for Restaurants not serving alcohol. And
> 0.50% of the turnover in State or turnover in Union territory in case of other suppliers, i.e Total 1% GST for traders.
Eligible criteria to opting composition scheme:
1. He is not engaged in the supply of services.
2. He is not engaged in making any supply of goods which are not leviable to tax under this Act.
3. He is not engaged in making any inter-State outward supplies of goods.
4. He is not engaged in making any supply of goods through an electronic commerce operator who is required to collect tax.
5. He is not a manufacturer of such goods as may be notified by the Government on the recommendations of the Council.
Conditions and Restrictions for composition scheme:
1. The person opting for the scheme must neither be a casual taxable person nor a non-resident taxable person.
2. The goods held in stock by him have not been purchased from an unregistered supplier and where purchased, he pays the tax under reverse charge.
3. He shall pay tax as per normal rates, in case of inward supply of goods and services or both received.
4. He was not engaged in the manufacture of goods during the preceding financial year. Ice cream and other edible ice, whether or not containing cocoa. Pan Masala, Tobacco and Manufactured Tobacco Substitutes.
5. Mandatory display on invoices of the words “composition taxable person, not eligible to collect tax on supplies”.
6. Mandatory display of the words “Composition Taxable Person” on every notice and signboard displayed at a prominent place.
Yes, GST applies to all manufacturers, traders and service providers. It extends to any dealers, writers and bloggers, earnings from online platform like Google AdWords through PayPal, import and export businesses, all kinds of startups including companies, whether they are proprietorship, partnerships or private limited companies, LLPs. It also applies, regardless of the threshold limit prescribed by the government,
1. Businesses operating from outside of their home state;
2. A business may be not registered to the state;
3. Businesses are liable to paying tax on reverse charge;
4. Input service distributor (ISD);
5. Electronic-commerce operator (ECO);
6. Aggregators selling services under own brand name (for example- Ola, Uber);
7. Online sellers;
8. Agent of supplier(s)
REGISTRATION REQUIRED ONLY FOR A PLACE OF BUSINESS FROM WHERE TAXABLE SUPPLY TAKES PLACE: A person is required to obtain registration with respect to his each place of business in India from where a taxable supply has taken place. However, a supplier is not liable to obtain registration if his aggregate turnover consists exclusively of goods or services or both which are not taxable under GST.
The ARN which stands for “Application Reference Number” which is generated from GST portal.
The ARN is the conclusive proof of successful submission of any application to the GST portal. The ARN always generated after the “Temporary Reference Number” (TRN) against uploading of requisite documents.
The ans. is – No. As LegalMaps completely technology-driven platform, provides the GST registration service online. So, you don’t need to have to be physically present during the registration process. All we need is just a desktop or laptop or may be phone with Internet connectivity, and the required documents, through which we can get the job done for you, even if you are located at the remotest location of any state/UT in India.
No, the same form for SGST, CGST and IGST can be used for the time of filing your return but it will have different columns for each one of them and it will have to be used on the basis of inter-state supplies or intra-state supplies.
NO, It is not possible to revise the GST returns at the time, but any changes can be made on the details provided using amendment section in the next period’s return.
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