With the aim of
“One Nation One Tax”, Goods and Services Tax (GST) was introduced in India on 1st July 2017 to unify different indirect taxes.
The commencement of GST regime in India brought with itself the concept of GST return- a document in which the taxpayer under the Goods
and Services Tax (GST) need to file the details of his/her income to the tax authorities. All the business entities need to get themselves
separately registered under GST Regime and file their GST return in an online or offline mode.
GST RETURN FILING is the process of declaring the Sales and purchase and out tax liability to the government/ reporting authority in
a specified manner, after you get the GST Registration done, this has to be filed in GSTR 3B and GSTR 1.
Eligibility for GST Return Filing
How has GST Returns?
All GST registered irrespective of turnover (i.e If you have registered the exemption limit of 20 Lakhs Does not apply, even NIL
turnover needs to be disclosed), have to the file prescribed return within the Due date, the majority of traders/service providers
need to
file GSTR 3B within 20th of the subsequent month declaring their summary turnover and summary Input.
GSTR-3B FILINGS (GST RETURN FILINGS)
DUE DATE TO FILE GST RETURNS GSTR 3B
The due dates for filings
GSTR 3B are 20th of the subsequent month, that is the sales and purchase of the month April
need to filed within 20th May The tax filers from 15 states/UTs -- Chhattisgarh, Madhya Pradesh, Gujarat, Daman and Diu,
Dadra and Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman and Nicobar Islands,
Telangana and Andhra Pradesh -- will now be having the last date of filing GSTR-3B returns as 22nd of the month without late
fees 22 States/UTs of Jammu and Kashmir, Ladakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan,
Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand
and Odisha having annual turnover below Rs 5 crore in previous financial year the last date will be 24th.
Will there be any invoice matching in GSTR-3B?
No, all the details in GSTR-3B will be self-declared in summary manner and the taxes will be paid based on table 6
of GSTR-3B (refer to the Rules as available on the GST Council or CBEC website, applicable for GSTR-3B Form). But
you need unsure the that you match it
GSTR 2A and not more than 10% for unlisted items can be claimed, that means
you can claim only 110% of the amount reflected in GSTR 2A
Is filing of GSTR-3 mandatory even if there is no business in the particular tax period?
GSTR-1 (GST RETURN FILINGS)
What is GSTR-1? (Form used in GST RETURN FILINGS)
GSTR-1 is a monthly Statement of
Outward Supplies to be furnished by all normal and casual registered taxpayers making
outward supplies of goods and services or both and contains details of outward supplies of goods and services. Every
registered taxable person, other than an input service distributor/compounding taxpayer/TDS Deductor/TCS Collector is
required to file GSTR-1, the details of outward
supplies of goods and/or services during a tax period, electronically on the GST Portal.
Is GSTR-1 filing mandatory? (Form used in GST RETURN FILINGS)
Invoice level details of supplies to registered persons including those having UIN
Invoice level details of Inter- state supplies of invoice value greater than equal to INR2,50,000 to unregistered persons (consumers)
Details of Credit/Debit Notes issued by the supplier against invoice
Details of export of goods and services including deemed exports (SEZ)
Summarised state level details of supplies to unregistered persons (consumers)
Summary Details of Advances received in relation to future supply and their adjustment
Details of any amendments effected to the reported information for either of the above categories.
Nil- rated, exempted, and non-GST supplies
HSN/SAC wise summary of outward supplies
The following taxpayers are not required to file GSTR-1:
Taxpayers under the Composition Scheme (Return to be filled by them in GSTR 4)
Non-resident foreign tax payers (Return to be filled by them in GSTR 5)
Online information database and access retrieval service provider (Return to be filled by them in GSTR 5A) Input Service Distributors (ISD) (Return to be filled by them in GSTR-6)
Non-filing of GST Return
Non-Filing of GST returns within the prescribed time may lead to the attraction of penalties and cancellation of GST registration.
The cancellations of GST Registration occur when the registered person under GST does not submit the GST Return for a continuous
period of six months. Once the GST Return is cancelled he/she would not be able to obtain another GST registration unless the entire
late filing penalty is paid.
If you have any query, then CVBAY Account Professionals will help you and solve all your queries file your GST Return On-time.
CVBAY ACCOUNT SERVICES works round the clock 24 hours x 7 days x 365 days. When you collaborate with us,
we will deliver the desired output in real time as well as within a specified turnaround time.
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