Every person registered under the GST Act has to periodically furnish the details of sales and purchases along with tax collected and paid thereon, respectively, by filing online returns. Before filing the return, payment of tax due is compulsory otherwise such return will be invalid. GST return can be filed in different forms depending upon the nature of transaction and registration.
Steps for filing GST return:
Return Forms that are applicable for Normal Tax payers and their due dates are:
- Monthly Details of outward supplies in FORM GSTR-1 by the 10th of next month.
- Monthly Details of inward supplies in FORM GSTR-2 by the 15th of next month.
- Monthly Filing of Return along with payment of tax due in FORM GSTR-3 by the 20th of next month.
- Annual Filing of Return in FORM GSTR-9 by 31st December of next financial year.
GST return filing process
Here, look over the points to be considered while filing GST return:
- Go to GST Portal : www.gst.gov.in
- You will be given a 15-digit GST identification number based on state code and PAN number
- You can take help of CAs who can process fillings either through Online GST Portal or via accounting software such as Gen GST Software
- The taxpayers will be getting less complex method of filing of returns
- The filing can be done by Online Method
Steps for GST Return Filing:
Step 1: The taxpayer will transfer the last GSTR-1 return form either specifically through information section at the GST Common Portal or by transferring the record containing the said GSTR-1 return form through Apps by the 10th day of the month succeeding the month amid which supplies has been made. The expansion/diminish in the supply solicitations would be permitted, just on the premise of the points of the interest transferred by the counter-party buyer in GSTR-2, up to the fifteen day of the month. At the end of the day, the provider would not be permitted to incorporate any missing solicitations all alone after the tenth day of the month. GSTN will encourage the intermittent transfer of such information to minimize a minute ago load on the framework and also the GSTN will encourage disconnected planning of GSTR-1.
Step 2: GST Common Portal (GSTN) will auto-draft the GSTR-2A. Purchaser can modify their GSTR-2A via GSTR-2 and file the GSTR-2 on or before 15th day of month succeeding period.
Step 3: Purchasing taxpayer will acknowledge/dismiss/alter such auto-drafted GSTR-2A. A taxpayer will have the alternative to download his provisional purchase explanation from the Portal or through Apps utilizing Application Programming Interface (APIs) and redesign/adjust it even without online connection.
Step 4: Purchasing taxpayer will likewise have the capacity to add additional purchase receipt points of interest in his GSTR-2 which has not been transferred by counter-gathering taxpayer (provider) as depicted in Step 1 and 2 above, if he is in control of legitimate receipt issued by counter-party taxpayer and he has really got such supplies.
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Step 5: Taxpayers will settle their GSTR-1 and GSTR-2 by utilizing on the web office at Common Portal or utilizing GSTN consistent disconnected office in their bookkeeping applications, decide the risk on their provisions, decide the measure of qualified ITC on their buys and afterward produce the net assessment obligation from the framework for every kind of duty. Money points of interest according to individual ledger/conveyed forward from past expense period, ITC conveyed forward from past assessment period, ITC inversion and related Intrigue/Penalty, charges paid amid the present duty time frame and so forth would get auto-populated in the GSTR-3.
Step 6: Taxpayers will pay the sum as appeared in the draft GSTR-3 return created naturally at the Portal post finish of exercises specified in Step 5 above.
Step 7: Taxpayer will debit the ITC ledger and money ledger and say the charge section No. in the GSTR-3 return and would present the same.