What exactly is a GST return?

The purpose of filing a GST return is to keep track of financial accounts throughout the year. This form must be submitted to the GST authorities.

Regardless of their business activity, sales, or profitability during the reporting period, all organizations having a valid GST registration must file a GST return. As a result, even if a company is inactive but has a valid GST registration, it must file GST returns.

A GST return is a document that details all of a taxpayer's inward and outward supply (i.e. purchases and sales) that must be reported to the GST authorities.

Who can file GST returns?

  • An individual who has a valid GSTIN is required to file GST returns.
  • An individual whose annual turnover exceeds threshold limit are also required to obtain a GST registration and file GST returns.
  • A business entity having nil turnover during tax period, also file nil GST return.

When do you have to file your GST returns?

GSTR 1

The 11th of the following month

GSTR 3B

The following month, on the 20th.

CMP 08

The 18th of the month after the quarter in question in the fiscal year.

GSTR 4

The 18th of the month following the end of the quarter.

GSTR 5

the 20th of the following month

GSTR 6

The 13th of the following month

GSTR 7

10th of the following month

GSTR 8

The 10th of the following month

GSTR 9

The financial year ends on December 31st

GSTR 10

Within three months of the cancellation date

GSTR 11

The statement is due on the 28th day of the month following the month in which it was filed.

How to File a GST Return with TaxDraw?

  • TaxDraw is a renowned Indian business service platform that provides end-to-end GST solutions. We have helped many business owners in obtaining GST registration and filing GST returns.
  • When a business outsources GST return filing to TaxDraw, a professional GST advisor is assigned to our client.
  • Every month, this specialized advisor will contact you to acquire the relevant information, prepare the GST returns, and assist you with completing the GST returns.

GSTR 1 to GSTR 11 GST Filing Return Due Dates can be found here.

1. GSTR-1 (Monthly)

Every month on the 11th,Taxpayers with monthly revenue of more than Rs.1.5 crores must file GSTR 1 returns on the 11th of each month.

2. GSTR-1 (Quarterly)

Every quarter on the 13th Quarterly returns are due on the 13th of each quarter for taxpayers with a revenue of less than Rs.1.5 crore.

3. Quarterly Composition Scheme CMP-08

On the 18th of each quarter, taxpayers registered under the GST composition scheme with a turnover of up to 1 crore must file Form CMP-08.

4. Annual-Composition Scheme GSTR-4

April 30th GSTR 4 is due on the 30th of the month following the end of the financial year for which the composite taxpayer is filing the annual return.

5. Annual returns (GSTR-9)

December 31st The annual GST return for the financial year must be filed by December 31st. All entities must comply with this rule.

Late Fees

GST Act Normal Return Nil Return
CGST Act Rs 25 per day Rs 10 per day
SGST/UTGST Act Rs 25 per day Rs 10 per day
IGST Act Rs 50 per day Rs 20 per day
Interests
  • Interest @ 18% per annum applicable if late payment of tax liability.
  • Interest @ 24% per annum applicable Higher ITC claimed or lower output tax liability shown by GST registered person

Plans

Rs.499 (Per Return) All inclusive price

Starter

  • GSTR-1 Nil Return Filing
  • GSTR-3B Nil Return Filing
  • Expert Support
Rs.9999 All inclusive price

Plus

  • GSTR-1 Return Filing
  • GSTR-3B Return Filing
  • Input Tax Credit Reconciliation
  • 12 Month GST Return Filing
  • Expert Support
Rs.19999 All inclusive price

Pro

  • GSTR-1 Return Filing
  • GSTR-3B Return Filing
  • Input Tax Credit Reconciliation
  • 12 Month GST Return Filing
  • 12 Months Business Accounting
  • Expert Support

FAQ's

Every individual or company that is GST registered is obliged to file a GST return for the specified time. To comply with GST requirements, even those organizations with a GST registration but no activity must file a GST Nil Return.

The GST Department will track down all non-filers of GST returns and forward a list of non-filers to the relevant GST authorities for further investigation and action. Non-filers and late filers of GST returns would be subject to an automatic late fee under the GST statute.

All taxpayers must file a GSTR1 return under the GST, except an input service distributor, a non-resident taxable individual, a casual taxable individual, and an individual paying tax under the GST composition system.