GST Return Filing
Once a business entity gets registered under GST, it is mandatory to file periodical GST returns as per the schedule mentioned below. The return filing is mandatory even if there is no business activity or sales during the period. There are various returns to be filed under GST. GSTR-3B (for intimation and payment of Tax on monthly basis), GSTR-1 (details of outward supplies) on the 10th of each month, GSTR-2 (details of inward supplies) on the 15th of each month (which is currently suspended) and GSTR-3 (monthly return) on the 25th of month (which is currently suspended). Dealers registered under Composition scheme are required to file GSTR-4 every quarter, on 18th of the month next to the quarter. Finally, annual GST return must be filed by all GST registered entities on/before the 31st of December following the year. The last dates and period of return filings are subject to continues changes for effective roll out of GST all over the india.
We at TaxMuneem offers end to end GST Registration and Return filing services in minimum time with free consultation. The time taken to file the return is around 2 to 3 working days, so the data should reach us by at least 3 days before last date of filing.
Filing of return online on GST portal.
Processing of Data provided by the client in template.
Correction of major errors and GST number of suppliers.
Detail of Outward and Inward Supply.
GST accounting Data for verification.
Any other information required.
2 days time for processing of data received from client in desired template.
1 day time to upload the data and intimate any corrections required.
- Mode for transport of information to tax administration.
- Compliance verification program of tax administration
- Finalization of the tax liabilities of the taxpayer within stipulated period of limitation, to declare the tax liability.
- Every registered person under GST needs to be filed GST Returns on monthly or quarterly basis based on their respective turnover in the preceding or current financial year.
- Supplier needs to give details in GSTR-1 in relation to outward supplies to registered/unregistered persons, details of credit/debit notes, Zero rated, exempted, non GST supplies, exports and advances in relation to future supply.
- Every registered person whose turnover in the preceding financial year or in the current financial year including estimated future turnover exceeds Rs 1.50 crore needs to be filed return on monthly basis.
- Registered persons not fall in the above category or persons who opt for composition scheme needs to be filed return on quarterly basis.
Yes, the recipient can himself feed the invoices which have not been uploaded by the supplier in favour of recipient. The credit on such invoices will be given on provisionally basis subject to matching. On matching, if invoice is not upload by the supplier both the parties will be intimated. If mismatch is rectified, provisional credit will be confirmed otherwise the credit amount will be added to the output tax liability of the subsequent month.
No, composition dealers do not need to file GSTR-1 and GSTR-2.They are required to submit GSTR-4 on quarterly basis on 18th of the month subsequent to the quarter. Since they are not eligible for any input tax credit therefore there is no relevance for GSTR-2.
In GST regime, once return is filed there is no provision for revision of the filed return. Any need to amend the filed return may arise due to change in invoices or debit/credit notes. Instead of revising the filed return system allow for amendment in the subsequent return under the tables specifically provided for amendments.
|Return for outward supply made
|10th of the next month
|Return for inward supply made
|15th of the next month
|Finalization of monthly return
|20th of next month
|Return under composition scheme
|18th from the end of quarter
|Return for Non Resident taxable persons
|20th from the end of the month or within 7 days after the last day of validity of registration whichever is earlier
|Input Service Distributor Return
|13th of next month
|Return for authorities deducting tax at source
|10th of the next month
|Supplies effected through E-Commerce operator
|10th of the next month
|31st December of next financial year
|Return for monthly payment of GST tax liability
|20th of the next month
A registered person who failed to file return on timely basis will have to pay late fee of Rs. 100 for every day of delay subject to maximum of Rs.5000. For failure of GSTR-3B, penalty is of Rs. 20/50 per day. For failure of furnishing Annual Return, penalty is of RS. 100 per day subject to a maximum of an amount calculated at 0.25% of his turnover in a state will be levied.
Yes, once the mismatch is rectified by the supplier by declaring the details of the invoices or credit/debit notes, as the case may be in the return for the month/quarter in which error has been detected. The said amount can be reclaimed by reducing the output tax liability during the subsequent tax period.
If supplier received any advance consideration for the supply that would be made in future, supplier needs to give detail of such advance received in Table 11 of GSTR-1.
As per notification 66/2017- Central Tax dated 15.11.2017, there is no liability to pay tax at the time of receipt of advance in case of supply of goods.
If any advance is adjusted against sale that also has to be shown in GSTR-1.
Exports will be treated as Zero rated supply. No tax is payable on exports of goods and services, however credit of input tax credit will be available as refund to the exporters. The exporters have an option either to pay tax on export and claimed refund of IGST or export the goods under LUT without payment of IGST and claim refund of input tax credit.
The supplier has to show export in column 3.1 of GSTR-3B as zero rated supply and also in table 6 of GSTR-1.
No, it depends on whether B2B or B2C plus intra-state or inter-state supply.
For B2B supplies, all invoices whether inter-state or intra-state supply will have to upload.
For B2C supplies, where invoice value is more than 2.50 lacs in case of inter-state supply, invoice details needs to be uploaded. For inter-state B2C invoices in which value is less than 2.50 lacs and in case of intra-state invoices, state wise entry is sufficient.
Reverse charge under GST is applicable in the following scenarios:
- when registered supplier take inward supply of goods from all unregistered dealers in the whole day exceeds Rs. 5000
- When registered person take inward supply from another registered/unregistered person , which is covered under reverse charge( for e.g. inward supply from advocate, transporter etc.)
in both the above cases the recipient of supply will have to pay tax under reverse charge on inward supply. When the recipient make payment of tax under reverse charge then he can take input tax credit of such tax.
NOTE: At present reverse charge is applicable on the above point b. Reverse charge on point a has been deferred and the period of deferment is not specified.
When filing the GSTR-3B the recipient has to show his tax liability and input tax credit under reverse charge in table 3.1 and table 4 respectively.
When filing the GSTR-2 , the supplier has to give details of reverse charge in table 4.
While a large part of GSTR-2 will be auto-populated; there are some details that only recipient can fill like details of import, details of purchases from un-registered or composition suppliers and exempt/non-GST/nil GST supplies etc.
All taxpayers filing return in GSTR-1 to GSTR-3, other than ISD’S, casual/non-resident taxpayers, taxpayer under composition scheme, TDS/TCS deductors are required to file an annual return. Casual taxpayers, non-resident taxpayers, ISD’S and persons authorized to deduct/collect tax at source are not required to file annual return.