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GST Returns Filed By Us
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4 Steps to get GST Returns filed
Why you should choose Gstmentor as your partner in filing GST Returns?
- We have a team of Chartered Accountants, Company Secretaries, and Tax consultants having experience in indirect taxation for over five years.
- At Gstmentor, we provide separate data formats to our client’s staff for the preparation and maintenance of data like Inventory Register, Reconciliation formats, Outward and Inward Supplies Register. Under GST, maintenance of data is quite an important aspect as it helps in filling returns.
- We Guide Clients to avoid any penalties, make them aware of no. Providing the latest updates to our clients regarding the changes in GST. We believe if we are growing, our clients should also grow and develop their own knowledge base.
Have a look at our plans for regular taxpayers filing GSTR-1 and GST-3B
The plans are on quarterly basis. Categorized on the basis of yearly turnover irrespective of entity whether its a proprietorship, partnership or company. Look at the features.
Basic Package
3 Months Accounting and GST Returns for entities having turnover up to Rs. 10 Lakhs
Rs. 1999
- GSTR-1 Filling
- GSTR-3B filling
- TDS/TCS Statement for Ecommerce Sellers
- Accounting, Purchase and Sales Register & Preparing Inventory Records
- Input Tax Credit & GSTR 2A Reconcillation
- GST Consultant 24/7 support
- GST Payment Support
Standard Package
3 Months Accounting and GST returns for entities having turnover from Rs. 10 Lakhs to Rs. 50 lakhs
Rs. 2499
- GSTR-1 Filling
- GSTR-3B Filling
- TDS/TCS Statement for E-commerce Sellers
- Accounting, Purchase and Sales Register & Preparing Inventory Records
- Input Tax Credit & GSTR 2A Reconcilation
- GST Consultant 24/7 Support
- GST Payment Support
Premium Package
3 Months Accounting and GST Returns for entities having turnover exceeding Rs. 50 Lakhs to 1 crore
Rs. 3749
- GSTR-1 & GSTR-3B Filing
- TDS/ TCS Statement for E-commerce Sellers
- Accounting, Purchase and Sales register & Preparing Inventory Records
- Vendor Reconcilation
- Input Tax Credit & GSTR 2A Reconcilation
- GST Payment Support
- Payment Reconcilations for E-commerce
What would be the Impact of non filling of GST Returns?
Non filling of GST Returns would have major impacts which are discussed below.
- Issue of Show Cause Notice
- Suo moto GST Registration Cancellation
- Interest would be levied on outward supplies
- ITC would get blocked for customers
- Late fees would be levied
Look at the extract of notice received on account of non filling of GST Returns.
What are the types of GST Returns needs to be filed?
GST Returns are mandatory to be filed for each and every registered person. Whether it is a company, partnership, HUF, or an individual proprietor. Under GST Returns have been specified separately for different types of entities which are as follows.
GSTR-1/IFF By Regular Persons
GSTR-1 return is a detail of outward supplies filed by every registered person other than Composite Taxpayer, Non-resident taxable person, Input Service Distributor, Person deducting Tax collected at Source, E-commerce operators like Amazon and Flipkart.
The due date of GSTR-1 depends upon the turnover of the business. Businesses with sales up to 1.5 crores have the option to file return quarterly basis while turnover more than 1.5 crore file returns on monthly basis.
Turnover More than 1.5 Crores: From October 2020 to March 2021, the due date of GSTR-1 is the 11th of the next month.
Turnover Less than 1.5 Crores: For the Quarter October 2020 to December 2020 GSTR-1 due date was the 13th of January and for January 21 to March 21 quarter due date is the 13th of April. This is due to the launch of the Invoice Furnishing facility in the QRMP scheme.
GSTR-3B By Regular Persons
GSTR-3B is the most important return. In this return only tax liability is paid which is shown in GSTR-1 and Input tax credit is claimed.
It is required to be filed by every registered person other than Supplier of OIDAR services, Composition taxpayer, Non-resident taxable person, Input Service Distributor, Persons deducting TCS, and E-commerce operator.
It is filed monthly or for a part of a month. Even if no supplies are affected during that month or there is no claim of Input Tax Credit a “Nil Return” shall still be filed as we discussed above.
However, initially, GST-3 was decided as a payment return. Since it is not operating still now a rule was added to consider GSTR-3B as GST-3 payment return.
GSTR-3 B’s due date used to be the 20th of next month. However, states have established their own rules on the basis of turnover now.
GSTR-4 By Composition Taxpayers
Composition Taxpayers or persons who are availing the benefits of Notification 02/2019 stating Composition Scheme for a supplier of services with a tax rate of 6% having annual turnover in the preceding year up to Rs. 50lakhs,
are required to file a yearly return for the entire year or part thereof.
The due date of filling is GSTR-4 for composition dealers is 30th April following the end of such financial year.
However, Composition taxpayers are required to furnish a statement every quarter or a part containing details of self-assessed tax in Form CMP-08 till the 18th day of the month succeeding such a quarter.
GSTR-5 By Non Resident Taxable Persons
A Non-resident taxable person under GST is the one who occasionally undertakes transactions involving the supply of goods and services or both whether as principal or agent or in any other capacity but who has no fixed place of business or residence in India.
They are required to file GSTR-5 Return monthly or for a part of the month. The due date for such return is the 20th of the next month or the seventh day after the last day of validity of registration whichever is earlier.
They are not required to file an annual return.
GSTR-5A By OIDAR's
Online Information Database Access and Retrieval Services (OIDAR) are those services that are provided through the medium of the internet and received online without any physical interface like providing advertisement online, Cloud Services, or even downloading an E-book.
OIDAR are required to file GSTR-5A monthly or for a part of a month and the due date for such return is the 20th of next month.
GSTR-6 By Input Service Distributors
An Input Service Distributor means an office of the supplier of goods or services or both which receives tax invoices issued under Section 31 towards the receipt of Input Services and issues prescribed document for the purpose of distributing the Input Credit to a supplier of taxable goods or services having the same PAN number as that of office.
Input Service Distributors are required to file GSTR-6 monthly or for a part of the month and the due date for such return is the 13th of next month.
GSTR-7 By Persons deducting TDS
Every registered person who deducts TDS is required to file form GSTR-7 monthly or for a part of the month and the due date for such return is the 10th of the next month.
GSTR-8 By Ecommerce Operators
E-commerce operators are required to deduct Tax Collected at source for all eCommerce sellers and such TCS collected is filed via GSTR-8 return.
E-commerce Operators are required to file GSTR-8 monthly or for a part of the month and the due date for such return is the 10th of the next month.
GSTR-9 Annual Returns
Filed by registered taxpayers except for Nonresident taxable persons. Input Service Distributors, Persons deducting TDS, E-commerce Operators, Casual Taxable person.
The due date set for this return is 31st December of next financial year which has been extended earlier in most years.
It is an annual return and along with it, GSTR-9c is required to be filed for taxpayers having turnover more than 5 crores for FY 2018-19 and 2019-20.
Even if it is not filed, it will automatically auto-populate data from month-wise GSTR-1 and GSTR-3B. It will be filed automatically after the due date is over.
GSTR-9C Reconciliation Statement
GSTR-9C is a reconciliation statement that is filed by entities falling under GST Audit that is having a turnover of more than 5 Crores. GSTR-9C must be certified by Chartered Accountant and Cost Accountant. The GSTR-9C contains two parts, one is regarding reconciliation and the other one is Certification. This statement acts as a base for the GST authorities to verify the correctness of the GST returns filed by the taxpayers. Any liability arising on account of non-reconciliation shall be paid in DRC-03. The due date of submitting GST-9C is the same as of GSTR-9.
GSTR-10 Final Return
A registered person whose registration has been canceled are required to Final return within 3 months of the date of cancellation or date of order of cancellation whichever is later.
GSTR-11 By Unique Identity Holders
Persons having a Unique Identity Number to claim a refund of taxes are required to file GSTR-11.
Filing GST Nil return Or Zero Return
Taxpayers normally forget or are unaware of filling GST Return after obtaining GST Registration. Penalty of Rs. 20 per day is levied in case Nil Return is not filed even if business is not started.For example, ABC Limited applied for GST registration on 15 July and obtained a registration certificate on 18 July. Whether it needs to file a return for the month of July or directly start from August.
The answer is returned would be filed from July and subsequent onwards.
We need to understand whether return would be filed in all cases even if there are no sales and purchases. Yes, Even if there is no output tax or Input Tax credit, Return shall still be filed and that would be your “Nil Return”.
