GST Return Filing GST return filing involves a formal process where the taxpayer submits information in front of the government with regard to sales, purchases, and taxes collected and disbursed. Each GST-registered taxpayer in India has to file these returns periodically, although there may have been no sales or purchases during any particular period. Although there are no fees for the registration of GST, it needs appropriate compliance and accuracy to be compliant and effective rather than carrying penalties. We have experts in our crew who will easily guide you through the entire process of filing GST returns.   GST Return Filing All the Organizations registered under GST in India have to file their returns under GST according to the frequency of business activities, or monthly, quarterly, or yearly. If one feels it is too complex, then the process can be simplified with the online assistance of GST professionals from India Filings. Taxpayers need to adhere to scheduled timelines for their submission of GST, as returns dictate the tax liability of the nation from the part of the Indian government. Streamline the process of GST Return filing and be complaint with ease using India Filings. Leverage the convenience that LEDGERS GST provides, where business finances can be viewed in real time by you at the corner of the globe. In addition to this, it provides smooth integration with all the apps used for streamlining workflow in a business. File GST returns with India Filings today and keep ahead with ease! What is GST Return? A GST Return is a detailed statement that captures all the financial transactions of a person registered under GST, reflecting revenues and expenditures. It is, therefore a mandatory submission for every GSTIN holder to the tax authorities, allowing them to determine with precision their net tax liability. The GST return filing encompasses several critical elements:

• Purchases: It details all the purchases made by the taxpayer. • Sales: It provides a detailed record of all the sales by a taxpayer. • Output GST (On Sales): This represents the GST paid on sales. • Input Tax Credit (GST Paid on Purchases): This will show the GST paid on purchases, which the business can claim to offset with the GST payable on sales. For all queries related to GST return filing and seeking help in handling GST compliance, India Filings offers the GST software that makes the process smooth.

  Who Should File GST Returns? Filing a GST return is mandatory for any business or individual that is registered under the GST regime. All businesses or persons whose annual aggregate turnover crosses the threshold amount determined by the tax authorities from time to time will mandatorily need to file returns. This could vary for standardized taxpayers as well as for those who have opted for a composition scheme.   How Many Returns are there under GST? Under the GST regime, there would be 13 different returns serving various aspects of a taxpayer’s dealing in finances. Important to note is that not all taxpayers are required to file each and every type of return, and the kind of returns payable shall depend upon the class of taxpayer and the details on the GST registration. Below is a snapshot of the 13 GST returns:

• GSTR-1: Used for supplying information about outward supplies, broadly, sales. • GSTR-3B: Summary return that summarizes both sales and purchases and tax paid. • GSTR-4: Used by composition dealers-it summarizes the turnover and its associated tax. • GSTR-5: Non-resident taxpayers who are engaged in any taxable activities in India. • GSTR-5A: Suppliers of online information and database access or retrieval services • GSTR-6: Input Service Distributors apply for furnishing a summary of their distribution of input tax credit. • GSTR-7: For those entities that are liable to deduct TDS under GST. • GSTR-8: This is filed by the e-commerce operator who furnishes information of the transactions made on his platform. • GSTR-9: Annual return summarized all periodical return forms submitted in course of the year. • GSTR-10: Return upon cancellation or surrender of GST Registration. • GSTR-11: For the entities having a Unique Identity Number, seeking a refund for purchases. • CMP-08: A statement on every quarterly basis for Composition Taxpayer whereby he gives details of tax liability. • ITC-04: Return filling up by the supplier for reporting the information about supplies supplied to and received from a job worker.

In addition to these, there are input tax credit-related return statements, and those are: • GSTR-2A (dynamic): This is a real-time view of inward supplies as suppliers report. • GSTR-2B (static): This will be giving a point in time snapshot of inward supplies based on the filings by the suppliers. The QRMP scheme also allows small taxpayers to file their B2B sales for the initial two months of any quarter. However, they are mandatorily required to pay their taxes on a monthly basis through Form PMT-06. GSTR-1 (Return for Outward Supplies) GSTR-1 is the mandatory return filed by businesses to detail outward supplies of goods and services. This thus comprises all sorts of sales invoices as well as adjustment notes, for a given tax period. GSTR-1 has been mandated to be filed by every regular taxpayer under GST, even those classified as casual taxable persons. Submission Deadlines

• Monthly; Payable by the 11th day of next month for business having more than Rs. 5 crore annual turnover or such businesses which are not eligible to get registration under QRMP scheme. • Quarterly: For businesses enrolled in the QRMP program, by the 13th of the month next following the quarter end.

  GSTR-2A (Dynamic Read-Only Return) GSTR-2A is a read-only, dynamic return for the recipient or buyer of goods and services, capturing all inward supplies from registered GST vendors during a tax period. The information in the GSTR-2A would thus be auto-filled from the GSTR-1 returns of suppliers and the IFF data, if available, of the recipients who are under the QRMP scheme.   GSTR-2B (Static Read-Only Return) Introduced in August 2020, GSTR-2B is a static read-only return presenting consistent ITC data on behalf of the earlier month’s GSTR-1 filings. This facilitates the buyer to match ITC claims for every tax period and indicates necessary actions on each invoice appearing, including reversals, ineligibility, and reverse charge.   GSTR-2 (Deferred Return) GSTR-2 is an editable return, which is as of now put on hold, and was meant for registered procurements to declare their inward supply of goods and services against a tax period. Initially it was to be auto-filled from GSTR-2A, whose filing has been on hold since September 2017.   GSTR-3 (Deferred Return) GSTR-3 is a suspended monthly summary return for regular taxpayers, and therefore put together neatly the outline of outwards, inwards supplies, input tax credits, tax liabilities, and tax payments compiled on the back of GSTR-1 and GSTR-2 submissions that have now been deferred since September 2017.   GSTR-3B (Consolidated Return) GSTR-3B is the monthly summary return for common taxpayers and consists of all outward supplies, input tax credit, and tax dues. One has to reconcile the details of sales and ITC while submitting GSTR-3B by closely relating them with the records in GSTR-1 and GSTR-2B respectively. Submission Deadlines

• Monthly: Due on the 20th day of the month following the reporting month for taxpayers having a turnover over Rs. 5 crores during any previous year. • Quarterly: Within 22nd of the month succeeding the quarter in case of ‘X’ category States and within 24th in case of ‘Y’ category States for taxpayers having turnover up to Rs. 5crores in QRMP scheme.

  GSTR-4 (Return for Composition Scheme Taxpayers) GSTR-4 is an annual return of persons liable for tax under Composition Scheme, due by 30th April of the following year. GSTR-4 has replaced earlier quarterly returns as the taxpayer submits a simplified challan by using Form CMP-08 latest by the 18th day of the month succeeding the close of every quarter. Any enterprise with the turnover of merchandise up to Rs. 1.5 crores can pay tax at a prescribed rate on its turnover under the Composition Scheme. Similarly, even service providers can take advantage of it if their turnover is up to Rs. 50lakh.   GSTR-5 (Return for Non-Resident Foreign Taxpayers) GSTR-5 is mandatory for non-resident foreign taxpayers, which is conducting its business from India. It consists of outward and inward transaction details, adjustment, tax liability, and payment, which is to be filed on the 20th day of every month.   GSTR-5A (Return for OIDAR Service Providers) GSTR-5A is the monthly summary for providers of Online Information and Database Access or Retrieval Services, due by the 20th of every month.   GSTR-6 (Return for Input Service Distributors) Input Service Distributors are expected to file GSTR-6 that reports all the detailed documents relating to the distribution of ITC received and allocated, by the 13th from the end of every month.   GSTR-7 (TDS Return) In GST, entities are required to deduct TDS and file the same on GSTR-7, disclosing the TDS deducted, accrued and paid during the month along with the refund of TDS. The filing has to be done by the 10th of the next month.   GSTR-8 (Return for E-commerce Operators) E-commerce operators under GST must submit GSTR-8 monthly, recording the supplies made and tax collected at source, due by the 10th of the following month.   GSTR-9 (Annual Return) It is mandatory for all GST registered taxpayers to file GSTR-9, which is an annual statement that includes details of outward and inward supplies, taxes payable, and paid. The deadline will be December 31st of the year following the GST.   Due dates for various types of GST returns  

GST Return	Type of Taxpayer	Due Date
GSTR-1	Regular Taxpayer	Monthly: 11th of the following month Quarterly: 13th of the month following the quarter
GSTR-2A (Auto-generated)	All Taxpayers	Auto-generated, utilized for reconciliation purposes
GSTR-3B	Regular Taxpayer	Monthly: 20th of the following month
GSTR-4	Composition Scheme Dealer	Annually: 30th April following the end of the financial year
GSTR-5	Non-Resident Foreign Taxpayer	20th of the following month
GSTR-6	Input Service Distributor	13th of the following month
GSTR-7	Tax Deducted at Source (TDS)	10th of the following month
GSTR-8	E-commerce Operator	10th of the following month
GSTR-9	Regular Taxpayer (Annual)	31st December of the following financial year
GSTR-9C	Regular Taxpayer (Annual)	Filed along with GSTR-9, by 31st December of the following financial year

  Penalty for Late Filing GST Returns If you make late GST return submissions, you will have to face a penalty charge and charges for interest. Firms make timely submissions to avoid the costs imposed by the government. Here is all information that you need to know regarding late GST returns:

• Requirement for Filing Returns: All registered taxpayers have the obligation to file GST returns in case of nil business on a periodic basis. • Delays Cause More Delays: Even in the event of failure to file a return, you cannot have the subsequent period’s returns filed without first filing the preceding period’s return. So, again a pile of late returns. • Penalty for Late filing: Now assume you have been delayed in filing GSTR-1; so penalty will be along with the date of filing of GSTR-3B. • Interest on Overdue Tax Payments: If you have a tax to pay and pay after the deadline, there is an 18% annual interest imposed on the said amount from the day after the tax is due and payable until paid. • Late filing fee: There is a provision for the late filing fee under CGST and SGST, which is Rs.100 per day with the cap of Rs 5,000. • Annual Return Late Fee: The fees for preparation of GSTR-9 and GSTR-9C are annual returns, which does not amount to more than 0.25% of your turnover in the state or UT unless the government grants relief or relaxes them.

  How do you file the GST returns? This particular company in India offers leading business service and a wide range of GST services to end the process from registration to actual returns filing. So far, we have helped thousands of business owners obtain GST registration as well as filing GST return.   Outsource GST Compliance to IndiaFilings Partner with India Filings for outsourcing your GST compliance and reduce your burden on compliance, helping you further and focus on growing your business. With India Filings, your GST compliance is maintained on the LEDGERS GST platform, giving you access to live business data anywhere and at any given time. LEDGERS can seamlessly sync and work with other online and offline applications that you use often. In case you outsource GST return filing with India Filings, it assigns a dedicated GST advisor to the business. The advisor contacts you every month, takes the information, and prepares the return for the business or helps in the filing process for the business.   Benefits of choosing India Filings for the GST returns Dedicated GST Advisor They will assist you in the process of GST registration and filing, provided that the manager has experience in the sector that you operate in. They will help you in particular activities like uploading invoices; they also assist you in ensuring on-time filing. Reminder to file GST returns Our platform ensures timely reminders well in advance of the deadline beyond which penalty will be applicable. In addition to this, your GST advisor will remind you periodically so that no deadlines are missed. Monthly GST Status reports Monthly reports detailing the status of GST return filing, including GSTR- 3B and the way forward, will be shared with the clients by the GST advisors. GST returns by LEDGERS GST returns are prepared by LEDGERS- the GST software so that it is error-free and filed on time without hassles. Standard accounting and cloud records Record all your financial transactions and invoices on LEDGERS. Accountants will record all of these so you can just file all of your returns- ITR, TDS, and GST among others-on time cost-effectively without hassle. LEDGERS GST Software In addition to the GST advisor support, LEDGERS GST Software will be provided to the client for GST invoicing, payments, returns filing, and accounting. Some of the features of LEDGERS are:

• Customer management
• Supplier management
• GST Invoicing
• Estimate issuance & tracking
• Accounts receivables tracking
• Purchase register
• Payment’s tracking
• Payables management
• Automated GST return filing (GSTR-1, GSTR-3B)
• Automatic Input Tax credit reconciliation
• GST E-way bill generation & management
• ICICI bank integration

With India Filings help, you will file your GST returns on time and thus avoid penalties. Discuss all your start-up requirements with our experts today and get on the path to easy and hassle-free filing with expert assistance every step of the way.   GST Return Filing FAQ’s What is GST Return? A GST Return, by inference, is a statutory document to which all registered GST businesses are mandatorily required to submit. This return contains detailed particulars concerning the income and expenses of a business. It is, thus, important for tax authorities in the computation of the net tax liability of the taxpayer. Who Should File GST Returns? Any business or individual who is currently registered under GST has to file the returns. This could even include those whose annual turnover exceeds the limit prescribed by the tax authorities. How Many Returns are there under GST? It provides for 13 different types of returns, which caters to all other aspects of a taxpayer’s financial transaction. Though not every taxpayer is required to file all these returns, it has to be so if they want to have their business in the respective category under their GST registration details. What is GSTR-1? GSTR-1 This is a monthly or quarterly return for reporting details of outward supplies of a business, which is nothing but sales. In case a taxpayer’s aggregate turnover has surpassed Rs. 5 crores during the fiscal, then he files GSTR-1 monthly by the 11th day of the subsequent month, otherwise, quarterly by the 13th day of the following month. What is GSTR-3B? GSTR-3B is the summary return filed on a monthly basis wherein all outward supplies, input tax credit claimed, and tax paid are summarised. If the annual turnover is more than Rs.5 crore, GSTR-3B needs to be filed within 20 days of the next month. What is GSTR-4? GSTR-4 is to be furnished annually by taxpayers enrolled under the Composition Scheme, which is a return that summarizes turnover and corresponding tax for the year that is due by the 30th of April following the financial year. What is GSTR-5? GSTR-5 is a monthly return filed by non-resident foreign taxpayers who conduct taxable transactions in India. It includes details of both outward and inward supplies and is due by the 20th of each month. What is the Penalty for Late Filing of GST Returns? Late filing of GST Returns attracts penalties and interest. The late filing fee is Rs. 100 per day per act (CGST and SGST), capped at Rs. 5,000. Additionally, late tax payments incur an 18% per annum interest charge. How to File GST Returns? GST Returns can be filed online through platforms like India Filings, which offers tools like LEDGERS GST software for seamless filing. What are the Benefits of Filing GST Returns with India Filings? Filing with India Filings offers benefits like a dedicated GST advisor, timely reminders, monthly status reports, and error-free filing using LEDGERS GST software.