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GST Return Filing Services
GST – India
Under the GST system in India, businesses that are registered must file their GST returns either monthly, quarterly, or annually, depending on their specific business needs. It is mandatory for businesses to provide details on sales or purchases of goods and services, as well as tax collection and payment. With the implementation of the GST system, taxpayer services such as registration, returns, and compliance have been streamlined to ensure that they are in line and perfectly aligned.
Individual taxpayers are required to file four forms when filing their GST returns, including returns for supplies, returns for purchases, monthly returns, and annual returns. GST return filing is mandatory for all entities with valid GST registration, regardless of their business activity or sales during the filing period. Even a dormant business with a valid GST registration must file GST returns.
A GST return is a document that contains all the details of a taxpayer’s income or expenses, which must be filed with the tax administrative authorities. The GST system ensures that all businesses are held accountable for their taxes, and the returns provide a comprehensive snapshot of the company’s financial status. By implementing such a comprehensive Income Tax System like GST in India, the tax collection process has become more streamlined and efficient, benefiting both businesses and the government.
Eligibility Criteria for GST
The process of GST return filing in India applies to the following:
- The filing of GST returns is mandatory for any individual or entity that holds a valid GSTIN.
- In addition, if a person’s annual turnover exceeds Rs. 20 lakh, they must obtain GST registration and are obligated to file GST returns.
- In the cases of Special states, the limit for the annual turnover is Rs.10 lakh.
Different types of GST registration in India
| GSTR 1: Details of the outward supplies of the taxable goods and or services | Monthly | The 11th of Subsequent of that month |
| Quarterly (If opted under the QRMP scheme) | ||
| GSTR 3B: Simple returns in which a summary of the outward supplies along with the input tax credit that is declared and the payment of the tax is affected by the taxpayer. | Monthly | The 20th of that subsequent month |
| Quarterly | ||
| CMP 08: Statement cum challan to make a tax payment by a taxpayer registered under the composition scheme under Section 10 of the CGST Act. | Quarterly | 18th of the month succeeding the quarter of the specific fiscal year. |
| GSTR 4: Returns to be filed by the taxpayer that is registered under the composition scheme under Section 10 of the CGST Act | Annually | 18th of the month succeeding the quarter. |
| GSTR 5: Returns to be filed by a Non-resident taxable person | Monthly | 20th of the subsequent month |
| GSTR 6: To be filed by the input service distributor to distribute the eligible input tax credit | Monthly | 13th of the subsequent month |
| GSTR 7: Is filed by the government authorities | Monthly | 10th of the subsequent month |
| GSTR 8: Details of supplies that are affected through the e-commerce operators and the amount of tax that is collected at the source by them. | Monthly | 10th of the subsequent month |
| GSTR 9: Annual return for a normal taxpayer | Annually | 31st December of the Fiscal year. |
| GSTR 9C: Certified reconciliation statement | Annually | 31st December of the Fiscal year. |
| GSTR 10: Is filed by the taxpayer whose GST registration is canceled | Once the GST registration is canceled or surrendered | Within 3 months of the date of cancellation or the date of cancellation order whichever is earlier. |
| GSTR 11: Details of the inward supplies are furnished by a person who has UIN and also claims a refund. | Monthly | 28th of the month that is following the month for which the statement was filed. |
Composition Scheme GST Return Filing
All persons registered under the Composition Scheme are required to pay taxes using CMP-08 every quarter and GSTR 4 to be filled annually through the GST Common Portal or a GST Facilitation Centre. GST return for those enrolled under Composition Scheme is due on the 18th of the month, succeeding a quarter. Hence, the GST return for the composition scheme would be due on April 18th, July 18th, October 18th, and January 18th. The GST return filed by a Composition Scheme supplier must include details of:
- Invoice wise inter-State and intra-State inward supplies received from registered and unregistered persons
- Consolidated details of outward supplies made
If a registered person opted to pay tax under composition scheme from the beginning of a financial year, then the taxpayer must file monthly GST returns on the 10th, 15th, and 20th of each month and monthly returns till the due date of furnishing the return for September of the succeeding financial year or furnishing of annual return of the preceding financial year, whichever is earlier. Hence, even if a taxable person under GST opted for a composition scheme from April onwards, the taxpayer must continue filing monthly GST returns until September.
Staggered Return of GSTR-3B
| Turnover | Due dates | Applicable to |
|---|---|---|
| More than 5 crores | 20th of Every month | All the states and UTs |
| Less than 5 crores | 22nd of Every month for Group A States | Chhattisgarh, Madhya Pradesh, Gujarat, Daman and Diu, Dadra and Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman and Nicobar Islands, Telangana and Andhra Pradesh |
| Less than 5 crores | 24th of Every month for Group B States | Jammu and Kashmir, Ladakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha |
Penalties
What are the penalties, late fees, and interest rates?
If there are any offenses committed then a penalty has to be paid under GST
Late filing
Late filing of the GST returns can attract a penalty called a late fee. And according to the Goods and Service Tax can attract a penalty which is Rs. 100 under CGST and Rs.100 under SGST that accounts for Rs.200 a day.
With the late fee, an interest of 18% has to be paid per annum. It is calculated on the tax to be paid.
Non-compliance
In case if the taxpayer is not filing the GST returns then the subsequent returns cannot be filed. Hence, to avoid heavy fines and penalties it is better to file the GST returns on time as it will lead to a cascading effect.
For 21 offenses with no intention of fraud or tax evasion
An offender who is not paying taxes or is making short payments must pay a penalty of 10% of the amount of tax due subject to a minimum of Rs.10,000.
For 21 offenses with the intention of fraud or tax evasion
An offender is subject to a penalty amount of tax evasion or short deducted.
Even in case if there is no business the taxpayer is required to file the Nil GST returns.
OUR BLOGS
- 1. What is Invoice Furnishing Facility (IFF)?
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Invoice Furnishing Facility (IFF) is a facility provided to quarterly taxpayers who are in QRMP scheme, to file their details of outward supplies in first two months of the quarter (M1 and M2), to pass on the credit to their recipients. IFF consists of the following Tables of FORM GSTR-1:
- a. 4A, 4B, 4C, 6B, 6C – B2B Invoices
- b. 9B – Credit/ Debit Notes (Registered)
- c. 9A – Amended B2B Invoices
- d. 9C – Amended Credit/ Debit Notes (Registered)
IFF is an optional facility provided to quarterly taxpayers only. If IFF is in Submitted status, then filing of IFF is mandatory. In case, submitted IFF is not filed then taxpayer cannot file their Form GSTR-1 for the quarter. - 2. Do I need to compulsorily file my invoices in M1 and M2 of every quarter in the IFF?
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No, IFF is an optional facility provided to quarterly taxpayers in QRMP Scheme.
- 3. What is the due date for filing IFF? Can I file IFF after due date?
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For M1 and M2 (first two months of the quarter), IFF is to be filed by 13th of succeeding month. The facility to Save/Submit details in IFF remains open till 13th of the succeeding month and such details can be filed even after 13th. The remaining outward supplies which remain to be filed can be reported in next month’s IFF or in the quarterly Form GSTR-1, as applicable. It may be noted that if IFF is not Submitted/Filed till the Due Date, the same will expire after the Due Date of IFF and the quarterly taxpayers, who are in QRMP scheme, cannot pass on credit to their recipients for that month.
- 4. Will invoices reported in IFF reflect in my recipient’s Form GSTR-2A / 2B?
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Yes, all invoices saved/submitted/filed in IFF will flow to Form GSTR-2A of your recipient and upon filing will reflect in Form GSTR-2B of your recipient.
- 5. Is there any late fee applicable on late filing of IFF?
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No, there will be no late fee applicable on late filing of IFF, as IFF is neither mandatory nor allowed to be filed after the due date.
