GST Return Filing.

A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability.

Under GST, a registered dealer has to file GST returns that include: Purchases, Sales, Output GST (On sales), Input tax credit (GST paid on purchases) To file GST returns, GST compliant sales and purchase invoices are required.

Which GST Returns Are Required To Be Filed? w.e.f 1st January 2021

A registered person is required to file following returns:

1. GSTR-3B (Quarterly or Monthly)
2. GSTR-1 (Quarterly or Monthly)
3. GSTR-9 (Annual Return)

Along with these returns, there are two forms IFF and PMT-06 which can be filed by persons filing returns on quarterly basis. These are optional forms and no penalty is applicable for not filing them.

Document Required for GST Returns

Login Credentials :
GST ID and Password

Software path .

Details of Purchase

• Purchase made from Registered person
• Purchase made from Unregistered person
• Goods liable for Reverse charge

Details of supply

• Outward supply to Registered person
• Outward supply to Unregistered person
• Exempt sale.

DSC in case of company and Mobile/Email otp in other cases

PENALTY FOR LATE FILING OF GST RETURN.

If you Fail to file GST returns on time it can lead to penalties and cancellation of GST registration. If one does not submit a GST return for six months, then the GST registration would be cancelled, and the person would not be able to obtain another GST registration - unless all the late filing penalty is paid.

For people having NIL return and persons having turnover, the penalty for late filing GST return is different. NIL GST return must be filed for an individual with no business . Failure to file NIL GST return can lead to a penalty of Rs.20 per day for each of the GSTR-3B return and GSTR-1 return. So, failure to file NIL GST return can result in a penalty of Rs.40 per day or Rs.1200 per month.

In case a person has business activity during the period for which GST return is late-filed, then a penalty of Rs.50 per day will be applicable for late GSTR-3B return and Rs.50 per for GSTR-1 return. Hence, a penalty of more than Rs.3000 per month would be applicable.

In addition to the above late filing fees, the person would also have to pay interest at the rate of 18% on GST payment remitted late to the Government.

What Are The Different Types Of GST Returns ?

Here is a list of all the returns to be filed as prescribed under the GST law along with the due dates. As per the CGST act subject to changes by CBIC Notifications