What is GST Return Filing?
A GST 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)
Types of GST Returns
There are several types of GST returns, but the most common ones for regular taxpayers are:
- GSTR-1: Details of outward supplies of taxable goods and/or services affected. (Filed Monthly/Quarterly)
- GSTR-3B: A simple return containing details of outward supplies and input tax credit. (Filed Monthly/Quarterly)
- GSTR-9: Annual Return for a financial year.
- GSTR-4: Return for Composition Scheme taxpayers. (Filed Annually)
- CMP-08: Statement for payment of self-assessed tax by Composition dealers. (Filed Quarterly)
GST Return Filing Due Dates
Adhering to due dates is crucial to avoid interest and penalties. Typical due dates are:
- GSTR-1 (Monthly): 11th of the next month.
- GSTR-1 (Quarterly): 13th of the month following the quarter.
- GSTR-3B (Monthly): 20th of the next month.
- GSTR-3B (Quarterly): 22nd or 24th of the month following the quarter (state-dependent).
- GSTR-9 (Annual): 31st December of the next financial year.
How to File GST Returns Online?
- Login: Access the GST Portal with your credentials.
- Select Period: Choose the financial year and return filing period.
- Enter Details: Fill in the details of outward supplies (sales) and inward supplies (purchases) as required by the specific form.
- Submit: Validate the data and submit the return.
- Payment: Pay any tax liability using the cash or credit ledger.
- File: File the return using DSC (Digital Signature Certificate) or EVC (Electronic Verification Code).
Late Fees and Penalties
Failing to file returns on time attracts late fees and interest:
- Late Fee: Generally ₹50 per day (₹20 for NIL returns) subject to a maximum cap.
- Interest: 18% per annum on the outstanding tax liability.
Note: Continuous non-filing can lead to the cancellation of your GST registration.
