GST RETURNS

GST Services

GSTIN Registration

GSTIN Modification

GST Return Filing (All Types)

E-way Bill Registration / Generation

GSTIN Cancellation / Surrender

GST Audit

Revocation Of GST Number Cancellation

1. What is GST Return?

A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability.

Under GST, a registered dealer has to file GST returns that include:

• Purchases

• Sales

• Output GST (On sales)

• Input tax credit (GST paid on purchases)

To file GST returns or GST filing, GST compliant sales and purchase invoices are required. You can generate GST compliant invoices for free on ClearTax BillBook.

2. Who should file GST Returns?

In the GST regime, any regular business has to file two monthly returns and one annual return. This amounts to 26 returns in a year.

The number of GST filings vary for quarterly GSTR-1 filers. The number of GST filings online for them is 17 in a year.

There are separate returns required to be filed by special cases such as composition dealers whose number of GST filings is 5 in a year.

3. Late Fees for not Filing Return on Time

If GST Returns are not filed within time, you will be liable to pay interest and a late fee.

Interest is 18% per annum. It has to be calculated by the taxpayer on the amount of outstanding tax to be paid. The time period will be from the next day of filing to the date of payment.

Late fees is Rs. 100 per day per Act. So it is 100 under CGST & 100 under SGST. Total will be Rs. 200/day. Maximum is Rs. 5,000. There is no late fee on IGST.