Advantages Documents Cost Process FAQ’S

WHAT IS GST RETURN?

GST Return is a document that will contain all the details of your sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). Once you file GST returns, you will need to pay the resulting tax liability (money that you owe the government)

VARIOUS GST RETURNS AND THEIR MONTHLY DUE DATES

GST RETURN PARTICULARS FREQUENCY DUE DATE
GSTR 1 For Outward supply Monthly 10 th
GSTR 2 For Inward supply Monthly 15 th
GSTR 3 Summary return Monthly 20 th
GSTR 4 For Composition supplier Quarterly 18 th of the next month from the quarter end
GSTR 5 For Non resident tax payer Monthly 20 th
GSTR 6 For Input Service Distributor Monthly 13 th
GSTR 7 For those, required to deduct TDS under GST Monthly 10 th
GSTR 8 Who are required to collect TCS Monthly 10 th
GSTR 9 Annual Return 31 Dec of next financial year
GSTR 10 Who has surrendered/ cancelled GST registration Monthly Within 3 months of cancellation/ surrender

MOSTLY FILED GST RETURNS AND THEIR PURPOSE


  • GSTR 1
  • Details of outward supplies of taxable goods and/or services effected
  • GSTR 2
  • The tax payer must fill this return to claim input tax credit for the GST paid on his purchases.
  • GSTR 3B
  • This is the monthly return containing summary of GSTR1 and 2. It is submitted on finalization of sale and purchase figures.
  • GSTR 4
  • This is the quarterly return to be filed by composite dealers.
  • GSTR7
  • Under GST, certain tax payers are required to deduct TDS and deposit it to the government. As soon as this return is filed by the deductor tax payer (along with a certificate of deduction) and the amount of TDS deducted, is also deposited, it gets reflected in the credit ledger of the deductee. The deductee can then claim the credit of his TDS being deducted, which will further reduce the tax liability of the deductee tax payer.
    Note* These TDS provisions are made effective from 18.09.2017
  • GSTR 9 and 9A
  • TThis is the annual return, to be filed by every tax payer on or before 31 Dec of the next financial year. The composite dealer has to file GSTR 9A as his annual return.

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PACKAGES


Basic

499 /-
Inclusive all taxes

Nil Return having no transactions

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Premium

1999 /-
Inclusive all taxes

up to 50 transactions in a Relevant Period

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Standard

1499 /-
Inclusive all taxes

up to 20 transactions in a Relevant Period

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Note:

  • Price may vary as per the number of transactions exceeding 100 at a time.

How to file GST returns?

1

Login to the GST portal

2

Click on Return Dashboard>

3

Choose the period of filing return

4

Select the return box- like GSTR 3B or GSTR 1

8

Prepare the return, i.e. fill in the details through online or offline mode.

7

Fill in the details under every tile to the extent applicable, including interest and late fee

6

Click the check box at the bottom for pledge

5

Preview and submit the return.

9

In the payment of tax tile, check the amount of liability

10

Exit the payment tile- go back to dashboard

11

Click- create challan for the amount of liability due and pay online or over the counter

12

The amount paid is automatically reflected in the cash ledger of the tax payer within 5-10 minutes of payment.

13

liability by entering the amount of payment under the respective head of CGST, SGST, IGST, interest, late fee

14

Click Offset liability- dialog box for success will appear

15

Go back> Click the bottom check box> select authorized person> File DSC using DSC or EVC

FAQ’s About GST Return

  • What are the important due dates for 2018?
    Particulars For the Period Due Date
    GSTR 3B JAN 2018 FEB 20 TH 2018
    GSTR 4 JAN- MAR ‘18 APR 18 TH 2018
    GSTR 1 (QTR.) JAN- MAR ‘18 & OCT- DEC’17 APR 30 TH 2018 & FEB 15 TH 2018
    GSTR 1(MONTHLY) JAN 2018 & DEC 2017 MAR 10 TH 2018 & FEB 10 TH 2018

  • Who is required to file GSTR-1?
    Every registered dealer including casual registered person except the following:
    • Input service distributor
    • Non resident taxable person
    • Composite dealer
    • Person deducting TDS
    • Person collecting TCS
    • Supplier of Online Information and Database Access or Retrieval Service (OIDAR)

  • How to file GSTR 1 using offline tool?
    To avoid manual feeding of large data in case of no. of invoices for GSTR 1, it is better to use the GST offline tool. It enables the tax payer to feed the data in an excel template without the connection of internet. This file can then be directly uploaded in the GST portal to file GSTR 1.

  • Can GST return once filed, be amended or revised?
    No. Return cannot be revised. However, amendments in GSTR 1 may be made in the return of subsequent period, i.e. mistakes may be rectified in the next period (month/quarter) return.
    But there is no way to rectify or revise GSTR-3B.

  • What is the provision for composite dealers?
    Unlike regular taxpayers, a composite dealer has to file quarterly return in GSTR-4 by 18 th of the next month from the end of quarter. Example- for the quarter ended on Dec.’17, GSTR-4 to be filed upto 18 th Jan.’18. Also, unlike regular taxpayer, the composite dealers have to file their annual return in GSTR 9A.

  • What are the new provisions regarding dealers with turnover less than 1.5 Cr?
    Dealers with turnover less than 1Cr. have to file GSRT 1 quarterly, instead of monthly. However, GSTR 3B shall be continued to be filed on a monthly basis.

  • What are the penal interest and late fees for delay in filing return?
    The interest is payable for delay in payment of taxes due, and late fees is payable for delay in filing of return. So, in case of nil return, there will be no interest. But late fees of 20 Rs. will be charged. Both interest and late fees are calculated from the date next to the due date upto the date of payment.
    Intrest In every case other than NIL return@ 18% p.a.the tax liability@ 18% p.a.

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