GST return filing is done to maintain financial accounts per year. GST return is a document that contains the details of the income of the taxpayer. This document needs to be filed with the tax authorities.
Our Services for GST Return:
- Software for GST : We at LegalRaasta also have a software for you to file your returns. This software is easy to understand and operate. You just need a pc and internet connection for this.
- For normal tax payers, we have 3 plans for it. Basic, medium and enterprise.
- And for other tax payers, we have 4 plans. Namely, compounding, TDS, ISD and one for non-resident tax payer.
- In addition to all this, we also have e-commerce plan. Cost of each plan is given below.
Types of GST Return
- Registered persons taxable under GST has to file 3-monthly returns and 1-annual returns.
- But all the businesses who has not exceeded the exempted limit, which is Rs.2 lakhs all over India and Rs.10 lakhs in Northeastern and Hill States, is not eligible.
- All those businesses that exceed this limit, needs to file GST return
- This should be applicable, even if an entity makes no sale during a given year in the form of NIL returns.
- A company having turnover of more than Rs.1.5 crore needs to file returns monthly. And if the company has turnover of more than Rs.1 crore then, it should be filled annually as well. Below this threshold limit, an enterprise has an option to file it according to their needs.
Types of GST Return
Different documents are required by different entities to get IEC code and these are given below.
| Return Form | Particulars | Frequency | Due date |
|---|---|---|---|
| GSTR-1 | Details of outward supplies of goods and services | Monthly | 11th of the next month |
| GSTR-2 | Details of inward supplies of goods and services affected | Monthly | 15th of the next month |
| GSTR-3 | Monthly return, in the case of finalization of details of outward supplies and inward supplies along with the payment of tax. | Monthly | 20th of the next month |
| GSTR-3B | It is a simple return in which the summary of outward supplies along with Input Tax Credit is declared and payment of tax is affected by the taxpayer. | Monthly | 20th of the next month |
| GSTR-4 | For all the taxable person registered under the composition levy | Quarterly | 18th of the next month after the quarter |
| GSTR-5 | Returns for a non-resident foreign taxable person | Monthly | 20th of the next month |
| GSTR-6 | Returns for an input service distributor | Monthly | 13th of the next month |
| GSTR-7 | Returns for authorities deducting TDS | Monthly | 10th of the next month |
| GSTR-8 | Details of supplies effected through the e-commerce operator and the amount of tax collected | Monthly | 10th of the next month |
| GSTR-9 | Annual return for a normal taxpayer | Annually | 31st December of the next financial year |
| GSTR-9A | Annual return of a taxpayer registered under the composition levy anytime during the year | Annually | 31st December of the next financial year |
| GSTR-10 | Final return | Only once, when GST registration is cancelled or surrendered | Within 3 months of the date of cancellation or the date of cancellation of order, whichever is later |
| GSTR-11 | Details of inward supplies to be furnished by a person having UIN and claiming a refund | Monthly | 28th of the following month for which the statement is filed |
Steps for filing GST Return
- To file for the GST return, one has to first visit our website: www.legalraasta.com
- Then, click on the ‘tax’ tab and under GST column, click on the GST return button.
- After this, you have to feed in your name, email id and mobile number.
- Here, a user have multiple options to go through according to one’s need and budget. You can select for a free trial of 2 months to get the overall working of our software ‘Taxraahi’.
- If you already have an account, you can login or create a new account.
- Then, click on add company, where you need to feed in GSTN, GSTN password, GSTIN, Date of GST registration, select your type of entity and some other basic details.
- The next step would be to upload the data about your sale & purchases and select the type of file you have accounts in. It could be tally, excel or busy.
- Match in your data and click on the save button.
- Finally you can save the data on our portal. You can either use OTP (one-time password) or captcha.
Frequently Asked Questions
GST return is a document that contains the details of the income of the taxpayer. This document needs to be filed with the tax authorities.
One can file GST return using our GST software or by availing our assisted plans for normal taxpayers, other taxpayers or e-commerce tax plan.
You will be liable to pay interest and a fee for not filing the return on time. There is 18% interest per annum. The base for this interest is the amount of outstanding tax to be paid. It should be done from the next day of filing to the date of payment.
There is also a late fee, which is Rs.100 per day as per the GST Act. It is Rs.100 under CGST and Rs.100 under SGST, so the total is Rs.200. The maximum amount that can be levied is Rs.5,000. IGST is exempted from a late fee.
The following are the types of GST returns:
• GSTR-1 for the monthly return of the outward supplies
• GSTR-2 for the monthly return of the inward supplies
• GSTR-3 for the monthly return containing the details of the taxpayers from the other forms such as GSTR-1, GSTR-2, GSTR-6, GSTR-7)
• GSTR-4 for the quarterly return
• GSTR-5 for the variable return to be filed by the non-resident taxpayer
• GSTR-6 for the monthly return to be filed by the input service distributor
• GSTR-7 for the monthly return to be filed for the Tax Deducted at Source (TDS)
• GSTR-8 for the monthly return to be filed by e-commerce operator
• GSTR-9 for the annual return
• GSTR-10 for the final return paid before terminating business activities permanently
• GSTR-11 for the taxed to be paid by the taxpayers with a Unique Identification Number (UIN)
It completely depends upon the type of registration and transactions. Different periods have been specified for this.
• Monthly returns needs to be filed by the regular taxpayers, foreign non-residents, input service provider, tax deductors and e-commerce operators.
• Quarterly returns needs to be filed by the composition taxpayers.
GSTR-5 needs to be furnished in the case of a non-resident taxable assesse. These are the suppliers that came for a short while to make supplies in India. But they don’t have a business establishment in the country. The critical headlines for GSTR-5 include:
• GSTIN
• Imported goods
• Imported services
• Outward supplies made
• Details of debit credit notes