GST Return Filing

What is GST return filing?

Businesses that are registered under GST have to file the GST returns monthly, quarterly, and annually based on the business. Here it is necessary to provide the details of the sales or purchases of the goods and services along with the tax that is collected and paid. Implementation of a comprehensive Income Tax System like GST in India has ensured that taxpayer services such as registration, returns, and compliance are in range and perfectly aligned.

An individual taxpayer filing the GST returns has to file 4 forms for filing the GST returns such as the returns for the supplies, returns for the purchases made, monthly returns, and the annual returns.

GST return filing in India is mandatory for all the entities that have a valid GST registration irrespective of the business activity or the sales or the profitability during the period of filing the returns. Hence, even a dormant business that has a valid GST registration must file the GST returns.

GST return is a document that contains the details of all the income or the expenses that a taxpayer is required to file with the tax administrative authorities.

Eligibility Criteria

Who should file the GST returns?

GST Return filing in India is to be done by the following:

• A person having a valid GSTIN has to compulsorily file the GST returns.

• Also, a person whose annual turnover is crossing Rs. 20 lakh has to obtain a GST registration and file the GST returns mandatorily.

• In the cases of Special states, the limit for the annual turnover is Rs.10 lakh.

Due dates for filing the GST returns

GSTR 1: The 11th of Subsequent of that month

GSTR 3B: The 20th of that subsequent month

CMP 08: 18th of the month succeeding the quarter of the specific fiscal year.

GSTR 4: 18th of the month succeeding the quarter.

GSTR 5: 20th of the subsequent month

GSTR 6: 13th of the subsequent month

GSTR 7: 10th of the subsequent month

GSTR 8: 10th of the subsequent month

GSTR 9: 31st December of the Fiscal year.

GSTR 10: Within 3 months of the date of cancellation or the date of cancellation order whichever is earlier.

GSTR 11: 28th of the month that is following the month for which the statement was filed.

GST Return Filing Process

How to file the GST returns?

 black pearl is a leading business service platform in India that offers end-to-end GST services. We have helped thousands of business owners to get GST registration, as well as file GST, returns.

1. When GST return filing is outsourced to black pearl a dedicated GST advisor is assigned to the business.

2. This dedicated advisor would reach out to you every month and collect the necessary information, prepare the GST returns and help in filing the GST returns.

Why black pearl for Filing GST returns?

Filing GST returns takes around 1 to 3 working days subject to the availability of the government portal and the submission of documents by the client.

Return Filing under the Composition Scheme

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.

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.

Outsource GST Compliance

Outsource your GST compliance to black pearl to ease your compliance burden and focus your efforts on growing your business. 

How will the service be delivered?

You will have a dedicated GST Accountant assigned to your business. Each month, the Accountant will collect all the information and file your GST returns.

How will the information or documents be collected?

You can send us the information through email in any platform or upload the information. We also accept soft copy of invoices and purchase data.

What returns will be filed?

We will file GSTR-3B return and GSTR-1 return for regular taxpayers registered under GST. For composition dealers we will assist in filing GSTR-4 return.

What will be my responsibility?

You will only be responsible for providing the information or documents required to prepare your GST return. Once we have prepared the filing, you can verify the calculation and confirm the filing.

Will you provide support for GST input tax credit?

Yes, we will provide you input tax credit reconciliation. You can use the same to verify the input tax credit receivable for your business.

Will you provide support for GST refund?

Yes, for clients who subscribe to our GST return filing annual package, we provide support for GST refund processing.

Will you provide support for GST payment?

Yes, for clients who subscribe to our GST return filing package, we provide support for GST payment challan generation.

Find GST Filing Return Due Dates for GSTR 1 to GSTR 11

GSTR-1 (Monthly)

11th of every month

Monthly GSTR 1 returns must be filed by taxpayers having a turnover of more than Rs.1.5 crores on 11th of every month.

GSTR-1 (Quarterly)

13th of every quarter

Quarterly returns must be filed by taxpayers having a turnover of less than Rs.1.5 crores on 13th of every quarter.

CMP-08- Quarterly-Composition Scheme

18th of every quarter

CMP-08 must be filed by taxpayers registered under the GST composition scheme having a turnover of upto Rs.1 Crore on 18th of every quarter.

GSTR-4- Annual-Composition scheme

30th April

The due date for filing GSTR 4 is 30th of the month succeeding the financial year for which the composite taxpayer is filing the annual return.

GSTR-9- Annual returns

31st December

Annual GST return filing for the financial year is due on 31st December. This is mandatory for all entities.

GSTR-1 Return

GSTR-1 or return of outward supplies must be filed by all taxpayers having regular GST registration. The due date for filing GSTR 1 return is the 10th of every month. For July, September and October, the GST return due dates are different from the normal schedule.

GSTR-2 Return

GSTR-2 or return of inward supplies must be filed by all taxpayers having regular GST registration. The due date for filing GSTR 2 return is the 15th of every month. For July, September and October, GSTR2 return due dates are different from the normal schedule.

GSTR-3 Return

GSTR-3 or monthly GST return must be filed by a taxpayer after filing GSTR1 and GSTR2 return. GSTR3 is due on the 20th of every month. For July, September and October, GSTR2 return due dates are different from the normal schedule.

GSTR-4 Return

GSTRN-4 return must be filed by taxpayer registered under the GST composition scheme. GSTR4 is a quarterly return that is due on the 18th of October, January, April and July.

GSTR-5 Return

GSTR-5 return must be filed by persons registered under GST as a non-resident taxable person. GSTR5 is due on the 20th of every month.

GSTR-6 Return

GSTR-6 return must be filed by persons registered under GST as an input service distributor. GSTR6 return is due on the 13th of every month.

GSTR-7 Return

GSTR-7 return must be filed by all taxpayers required to deduct tax at source (GST TDS). Under GST, only certain government agencies are required to deduct tax at source after obtaining registration. Hence, GSTR7 is due only for those entities having GST TDS registration. GSTR7 is due on the 10th of every month.

GSTR-8 Return

GSTR-8 return must be filed by taxpayers required to collect tax at source. E-commerce operators are required to collect tax at source. Hence, any persons operating an e-commerce venture must register for TCS, collect tax at source and file GSTR8 return before the 10th of every month.

GSTR-9 Return

GSTR-9 return is GST annual return that must be filed by all regular taxpayers. Details submitted with GSTR9 must be audited if the entity has a turnover of more than Rs.2 crores. GSTR9 is due on or before the 31st of December.

GSTR-10 Return

GSTR-10 return must be filed by any person whose GST registration has been cancelled or surrendered. GSTR10 must be filed within 3 months of the date of cancellation order or surrender.

GSTR-11 Return

GSTR-11 return must be filed by persons having Unique Identity Number. GST Unique Identity Number is allotted to Consulate, Embassies and UN Bodies for claiming refund on inward supplies.