GST Return Filing

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GST Return Filing Online

  • File GSTR 9/9C for annual reconciliation, ensuring GST compliance and avoiding penalties.
  • Input/output tax reconciliation and accurate GSTR-1 and GSTR-3B preparation.
  • Validate HSN/SAC codes, verify GSTIN, and ensure error-free, audit-ready submissions before deadlines.

List of documents needed

Private Limited Company

  • Certificate of Incorporation
  • PAN card of Company
  • Articles of Association, AOA
  • Memorandum of Association, MOA
  • Resolution signed by board members
  • Identity and address proof of directors
  • Digital Signature
  • Director’s Proof (Any 2 from the below)

LLP

  • PAN Card of LLP
  • LLP Agreement
  • Partners’ names and address proof
  • Director’s Proof (Any 2 from the below)

Individual/Proprietorship

  • PAN Card
  • Address proof of proprietor

Director's Proof (Any 2 to be shown as proof of address of a director)

  • Telephone or Electricity Bill
  • Driving License
  • Bank Account Statement
  • Ration Card
  • Passport
  • Voter Identity Card
  • Aadhar Card

GST Return Filing

GST return filing is a mandatory compliance process for businesses registered under the Goods and Services Tax (GST) regime, introduced in 2017. This process involves reporting business transaction details and tax information, thereby helping to standardize the GST framework and ensure proper tax collection and credit allocation.

The filing process includes submitting data on sales, purchases, output GST (tax collected on sales), and input tax credit (ITC) from purchases. Businesses are typically required to file GST returns monthly, quarterly, or annually, depending on their turnover and specific GST filing category. Each GST return summarizes details from invoices, receipts, payments, and other relevant financial transactions. To avoid penalties and maintain compliance, it is crucial for taxpayers to file their GST returns by the specified due dates.

Benefits of Timely GST Return Submission

Here are some of the benefits of timely GST returns filing:

Avoiding Penalties

Irrespective of the tax liability, all businesses registered under the GST Act should file their GST returns online. Failure to file GST returns on time may result in penalties and interest at a rate of up to 18% per year. Late fees of ₹100 up to ₹5000 are being charged for late filing.

Maintaining Compliance Status

Filing GST returns before the deadline helps to avoid notice from the GST department and maintains compliance. Any regularities or inconsistencies in filing returns may reflect negatively on business compliance.

Claim Input Tax Credit

Filing GST returns on time helps businesses claim input tax credit. This allows them to easily deduct payable tax on overall sales and the tax paid on purchases. Businesses can use this credit by filing GST returns on time.

Benefit From Government Initiatives

Government-backed schemes and incentives are provided to businesses and individuals who file GST returns on time. This prevents imposing interest and penalties. In most cases, businesses that consistently file GST returns are eligible for government initiatives that include faster processing of refunds.

Improved Business Reputation

On-time GST returns reflect the commitment of the business entity to comply with the rules and regulations of the government. It also establishes a reputation for being responsible and trustworthy. This has a positive impact on consumers' partners and stakeholders when it comes to investment.

Documents Required for GST return filings

Here is a list of documents required for GST return filings:

  • Customer GSTIN
  • GST invoices
  • Place of supply
  • B2B and b2c service in voices
  • Bill number
  • Credit or debit notes 
  • HSN summary of goods sold
  • Amount of IGST, CGST, SGST applicable
  • Required GST return forms

Eligibility Criteria for GST Return Filing

Here is a list of eligibility criteria for GST return fillings. Business owners and dealers registered under the Goods and Service Tax Act 2017 should file for GST returns accordingly based on the nature of the business and transaction. The following entities should definitely file for GST returns:

  • Regular businesses registered under the Goods and Service Tax Act 2017
  • Entities registered under the composition scheme
  • An input service distributor individuals or entities deducting TDS and TCS
  • Businesses or individuals running supply chains
  • Tax payers generating revenue over ₹1.5 crore annually
  • Non residential Indians who conduct business activities with Indian citizens
  • E-Commerce business owners and corporations
  • Individuals holding a unique identification number or UIN
  • It is mandatory to file a NIL GST Return, even if there is no business activity for the month.

Checklist for GST Return Filing

Here is a list of checklists for GST return fillings. Filing your GST returns online requires you to submit multiple documents and individuals clear cutting information on ITC claims.

  • Supply bill
  • GST refunds
  • List of all tax invoices
  • Information regarding pending ITC
  • Information on credit notes or cancelled sales
  • Information on returned goods
  • Check credit for reverse charge
  • Cross verifying purchase bills
  • Sale reversed post GST payment
  • Information on GST reversal on purchases

Step-by-Step GST Return Filing Process

Below is a three step process for GST return filing in India

Get in touch with our experts

  • Book a slot with our GST experts and resolve all your queries. I not yet registered then get your GST registered on time

Preparing and Updating invoices

  • Provide the required documents and fill in essential details such as B2B invoices , B2C invoices, ITC details for initiating the return filling process.

GST Return Calculation and Filing

  • Our team will calculate the GST returns and file them on your behalf on the online portal. You will get the acknowledgement after the GST returns are filed.

Types of GST Returns and Their Due Dates in 2024

Here is a clear outline of different GST returns and their due dates in 2024:

Return/Form Description Frequency Due Date Applicable Period
GSTR-1 Details of outward supplies of goods or services Monthly 11th of the following month April 2024 – March 2025
Quarterly 13th of the month following the quarter April-June 2024, July-September 2024, October-December 2024, January-March 2025
GSTR-3B Summary return of outward supplies, input tax credit, and payment of tax Monthly 20th of the following month April 2024 – March 2025
Quarterly 22nd or 24th of the month following the quarter (depending on the state) April-June 2024, July-September 2024, October-December 2024, January-March 2025
CMP-08 Statement-cum-challan for composition taxpayers Quarterly 18th of the month following the quarter April-June 2024, July-September 2024, October-December 2024, January-March 2025
GSTR-4 Annual return for composition taxpayers Annually 30th April 2025 FY 2024-25
GSTR-5 Return for non-resident foreign taxpayers Monthly 13th of the following month April 2024 – March 2025
GSTR-6 Return for input service distributors Monthly 13th of the following month April 2024 – March 2025
GSTR-7 Return for authorities deducting tax at source (TDS) Monthly 10th of the following month April 2024 – March 2025
GSTR-8 Return for e-commerce operators collecting tax at source (TCS) Monthly 10th of the following month April 2024 – March 2025
GSTR-9 Annual return for regular taxpayers Annually 31st December 2025 FY 2024-25
GSTR-9C Reconciliation statement and certification for taxpayers with turnover above ₹5 crore Annually 31st December 2025 FY 2024-25
GSTR-10 Final return upon cancellation of GST registration Once Within three months of the cancellation date or order, whichever is later As applicable
GSTR-11 Return for taxpayers with Unique Identification Number (UIN) Monthly 28th of the following month April 2024 – March 2025

Penalties for Late GST Return Filing

Penalties for non-compliance, including late return filing and delayed GST payments, may vary from a fixed amount to a percentage of the tax due. Additionally, interest is levied on overdue payments, significantly impacting a company's profitability and cash flow. Failure to file GST returns within the specified time limits will result in the imposition of interest and late fees:

  • Interest accrues at a rate of 18% per annum, calculated by the taxpayer on the outstanding tax amount from the day following the filing deadline to the payment date
  • Late fees amount to ₹100 per day per Act, totaling ₹200 per day (₹100 under CGST and ₹100 under SGST), capped at ₹5,000.

Better GST Compliance Rating

The GST compliance rating is given to the registered business by the government after analysing various factors, including timely submission of annual and monthly returns. This provides information about input credits used, paying taxes, and so forth. Vendors with higher compliance ratings are deemed to be trustworthy by their buyers. This allows them to choose the vendors that have the best track record of paying their dues on time.

Buyers can choose a more compliant vendor straight away to avoid having to deal with the fallout from vendor carelessness later on thanks to the GST-compliance rating, which will allow them to discover which vendors have the best track record of paying their dues on time. An increased vendor compliance score increases the buyer's eligibility for an input tax credit.

How GST Wala Helps in GST Return Filing?

Filing GST returns is crucial to stay compliant with the tax laws in India. Here are a few more reasons why choosing GST Wala can help you out in the GST filing process:

Complete GST Compliance Support

Ensuring GST compliance for your business is a critical aspect of financial management. Our team offers comprehensive GST compliance support to make this process seamless and hassle-free. We will make sure to file the GST returns on time and help you stay ahead of the curve.

End-to-End Support

From document preparation to filling on the GST portal, GST Wala offers comprehensive support throughout the entire GST return filing journey. Our team will make sure to sort out the challenges involved and focus to reduce the burden, and ensure a smoother filling experience for you.

Transparent Communication

Our team will provide you with regular updates on the status of your GST return filing. This transparent communication helps you to make right decisions, helping you to be in the loop at every step.

FAQs on GST Filing Return

Find answers to frequently asked questions about GST return filing in India, including filing deadlines, return types, penalties, and rectification guidelines to help you stay compliant and avoid penalties.

Missing a GST return deadline may incur penalties, including late fees and interest charges. To avoid this, file the return as soon as possible and pay any outstanding taxes to mitigate penalties.

Hiring a Chartered Accountant (CA) for GST filing is not mandatory, but their expertise can ensure accurate and timely filing, helping avoid errors and potential penalties. Connect with our experts if you are unsure about compliance requirements.

GST filing frequency depends on your turnover and registration type. Regular taxpayers usually file monthly returns, while those under the composition scheme file quarterly returns.

To file a zero return in GST, log in to the GST portal, select the appropriate return form, and fill in the details indicating zero transactions for the taxable period. Submit the form to complete the filing process. If you need assistance, get in touch with our experts today.

The time limit for GST return rectification is within the specified period of filing subsequent returns or one year from the relevant annual return's due date, whichever is earlier. Rectify errors promptly to avoid compliance issues and penalties.

Check your GST return filing status online by logging into the GST portal and navigating to the 'Services' section. Select 'Returns Dashboard' to view the status of your filed returns, including whether they are submitted, pending, or processed.

The filing period for GST varies based on your business turnover and registration type. Generally, regular taxpayers file monthly returns, while composition schemes taxpayers file quarterly returns.

Monthly GST return filing is mandatory for regular taxpayers whose turnover exceeds the prescribed threshold. However, the composition scheme taxpayers file returns on a quarterly basis.

Yes, individuals and businesses can file their own GST returns using the GST portal or authorised GST software. However, ensure compliance with GST laws and accurately report transactions to avoid penalties.

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