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GST Return
GST Return
What is GST Return?
GST return filing is done to maintain financial accounts per year. GST return is a document that contains the details of the income of the taxpayer. This document needs to be filed with the tax authorities.
LegalRaasta Services for GST Return:
- Software for GST: We at LegalRaasta also have software for you to file your returns. This software is easy to understand and operate. You just need a pc and internet connection for this.
- For normal taxpayers, we have 3 plans for it. Basic, medium, and enterprise.
- And for other taxpayers, we have 4 plans. Namely, compounding, TDS, ISD, and one for the non-resident taxpayer.
- In addition to all this, we also have an e-commerce plan. The cost of each plan is given below.
Services for GST Return
We at LegalRaasta also have software for you to file your returns. This software is easy to understand and operate. The packages you can consider while filing your returns using our software are:
For Sole Proprietorship / Individual
- Free Trial For 2 Months
- Basic Software Worth Rs.4,999
- Enterprise Software Worth Rs.24,999
Normal Taxpayers
- Basic Plan Worth Rs.1,350 Per Month
- Medium Plan Worth Rs.1,999 Per Month
- Enterprise Plan Worth Rs.3,599 Per Month
Other Taxpayers
- Compounding Scheme Worth Rs.799
- TDS Worth Rs.3,500
- ISD Worth Rs.5,599
- Non-Resident Tax Payer Worth Rs.3,599
E-commerce Portal
- File The Return Which Costs You Rs.2,200 Per Month. The Fees Is For GST Returns Of 1 Year Duration. The Forms Included Are GSTR-1, GSTR-2, GSTR-3, And GSTR-9
Types of GST Return
| Return Form | Particulars | Frequency | Due date |
|---|---|---|---|
| GSTR-1 | Details of outward supplies of goods and services | Monthly | 11th of the next month |
| GSTR-2 | Details of inward supplies of goods and services affected | Monthly | 15th of the next month |
| GSTR-3 | Monthly return, in the case of finalization of details of outward supplies and inward supplies along with the payment of tax. | Monthly | 20th of the next month |
| GSTR-3B | It is a simple return in which the summary of outward supplies along with Input Tax Credit is declared and payment of tax is affected by the taxpayer. | Monthly | 20th of the next month |
| GSTR-4 | For all the taxable person registered under the composition levy | Quarterly | 18th of the next month after the quarter |
| GSTR-5 | Returns for a non-resident foreign taxable person | Monthly | 20th of the next month |
| GSTR-6 | Returns for an input service distributor | Monthly | 13th of the next month |
| GSTR-7 | Returns for authorities deducting TDS | Monthly | 10th of the next month |
| GSTR-8 | Details of supplies effected through the e-commerce operator and the amount of tax collected | Monthly | 10th of the next month |
| GSTR-9 | Annual return for a normal taxpayer | Annually | 31st December of the next financial year |
| GSTR-9A | The annual return of a taxpayer registered under the composition levy anytime during the year | Annually | 31st December of the next financial year |
| GSTR-10 | Final return | Only once, when GST registration is canceled or surrendered | Within 3 months of the date of cancellation or the date of cancellation of the order, whichever is later |
| GSTR-11 | Details of inward supplies to be furnished by a person having UIN and claiming a refund | Monthly | 28th of the following month for which the statement is filed |
Eligibility for return filing
- Registered persons taxable under GST has to file 3-monthly returns and 1-annual returns.
- But all the businesses who have not exceeded the exempted limit, which is Rs.2 lakhs all over India and Rs.10 lakhs in Northeastern and Hill States, are not eligible.
- All those businesses that exceed this limit, need to file a GST return
- This should be applicable, even if an entity makes no sale during a given year in the form of NIL returns.
- A company having a turnover of more than Rs.1.5 crore needs to file returns monthly. And if the company has a turnover of more than Rs.1 crore then, it should be filled annually as well. Below this threshold limit, an enterprise has an option to file it according to their needs.
Steps for filing GST Return
- To file for the GST return, one has to first visit our website: www.legalraasta.com
- Then, click on the ‘tax’ tab, and under the GST column, click on the GST return button.
- After this, you have to feed in your name, email id, and mobile number.
- Here, a user has multiple options to go through according to one’s needs and budget. You can select for a free trial of 2 months to get the overall working of our software ‘Taxraahi’.
- If you already have an account, you can log in or create a new account.
- Then, click on add company, where you need to feed in GSTN, GSTN password, GSTIN, Date of GST registration, select your type of entity, and some other basic details.
- The next step would be to upload the data about your sale & purchases and select the type of file you have accounts in. It could be tally, excel, or busy.
- Match in your data and click on the Save button.
- Finally, you can save the data on our portal. You can either use OTP (one-time password) or captcha.
Documents Required for GST Returns
GSTR-1
- GSTIN
- Legal Name of the registered person
- Previous financial year’s aggregate turnover
- Taxable outward supplies to a registered person
- Taxable outward supplies to a consumer
GSTR-2
- GSTIN
- Legal Name of the registered person
- TDS and TCS received
- Inward supplies where tax is applicable on reverse charge
- Inward supplies received besides those attracting reverse charge
GSTR-3
- Turnover
- Inter-state supplies
- Intra-state supplies
- Tax effect of amendments made concerning outward supplies
- Inward supplies attracting reverse charge
GSTR-4
- GSTIN
- Legal Name
- Inward supplies where tax is payable on reverse charge
- Consolidated statement of advances paid
- Amendments to details of inward supplies furnished in returns of previous periods
GSTR-5
- GSTIN
- Imported goods
- Legal name
- Imported services
- Outward supplies made
GSTR-6
- GSTIN
- Legal Name
- Amendments to distribution documents and debit or credit notes of previous periods
- Input tax credit received for distribution
GSTR-7
- GSTIN
- Legal name
- TDS details
- Return period
- Liability- payable and paid
GSTR-8
- GSTIN
- Legal Name
- Details of supplies made via e-commerce operator
- Tax paid and payable
- Details of interest
GSTR-9
- Turnover
- Inter-state supplies
- Intra-state supplies
- Tax effect of amendments made concerning outward supplies
- Inward supplies attracting reverse charge
GSTR-10
- GSTIN
- Legal Name
- The effective date of cancellation/surrender
- Cancellation order date
- Tax payable on closing stock
GSTR-11
- Unique Identification Number
- Name of the persons having UIN
- Details of the supplies
- Tax period
Penalties of Non-Compliance
All GST Returns must be filed by the 20th of the following month. There are strict laws under the GST Act for non-compliance with the Rules & Regulations.
Penalty for Not Getting GST Registration, when a business is coming under the purview. The penalty is 100% of the tax amount if the offender has not filed for GST registration and intends to purposefully avoid it. The amount is the tax as applicable. Or Rs. 10,000, whichever is higher.
A penalty of 100% tax due or Rs. 10,000, whichever is higher, is also applicable to those who choose Composition Scheme despite not being eligible to it.
Any offender not paying his due tax or making short payments (genuine errors) is liable to pay a penalty of 10% of the tax amount. This amount cannot be less than Rs 10,000.
A person guilty of not providing the GST invoice is liable to be charged 100% tax due or Rs. 10,000. Whichever is higher.
An offender will be charged a fine of Rs. 25,000 for incorrect invoicing.
If a person has not filed for unpaid tax, there is a penalty of Rs. 50 per day. Rs. 20 per day if he was to file for NIL returns. And the maximum amount must not exceed Rs. 5,000.
There is also a provision of the penalty by a jail term for tax offenders to commit fraud.
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Frequently Asked Questions
What is the GST return?
How to file for GST return?
How much does it cost to file this return?
What is the process to file GST returns?
What are the late fees for not filing returns on time?
What are the types of GST return?
Should an e-commerce operator need to file a return separately?
What is the purpose of filing GST returns?
Who is eligible to file an Annual Return?
What parts are auto-populated in GSTR-2 from GSTR-1?
Does one need to attach the scanned copy of invoices along with GSTR-1?
What is the periodicity of the GST return filing?
Is there is a need to file separately for the CGST, SGST, and IGST?
In the case of a non-resident taxable assess, what GST return has to be furnished?