The introduction of GST by the Indian Government is one of the most significant steps to bringing the nation under one taxation system. This tax came into effect in the year 2027 to remove different types of indirect taxes on goods and services.
Filing of GST Return is necessary for all those businessmen who earn a profit of more than a certain limit. A taxpayer who has GST Registration in India files GST returns for GSTIN that he registered for. There are about 22 types of GST forms out of which 11 are active, 8 are view-only and 3 are suspended.
Late filing of GST returns has both late fees and interest.
The type of GST to be filed depends on the type of taxpayer that you register. There are 7 types of taxpayers such as:
Ø Composition taxable persons
Ø Regular taxpayer
Ø Input service distributor
Ø E-commerce operators
Ø TDS deductors
Ø Casual taxable persons
Ø Non-resident taxpayers
Different taxpayers pay GST Return Online in different ways. Some taxpayers pay GST Monthly filing while some taxpayers file GST returns quarterly and even annually.
In this blog, we will discuss the steps in which you can file GST returns easily. You can save time and effort by following some easy steps to file GST returns.
Stepwise procedure to file GST returns online
Every manufacturer, supplier, and retailer has to file GST returns every year. The Indian government has now started e-filing of GST returns for taxpayers who want to file GST returns. You can file Online GST Return on the official GST portal.
Filing of GST returns can be either done through apps or software. This facility helps to auto-fill various types of GST forms. Now, let us have a look at the steps of filing GST returns online:
1. The first step is to visit the official GST portal.
2. After coming to the official GST portal, you will get a GSTIN of 15 digits. This number is obtained with the help of PAN and state code.
3. The next step is to upload every invoice that contains a reference number.
4. Now, you have to file all inward returns, outward returns, and monthly returns on the site. All the errors will be automatically rectified on the site as you enter all the details.
5. The next step is to file outward supply returns by filling out the GSTR-1 form before the 10th of every month.
6. GSTR-2A will contain all the details of the outward supplies of the supplier.
7. The recipient has to verify all the details of outward supplies along with details of debit and credit notes.
8. Now, you have to provide details of inward supplies of the goods and services by filling out the GSTR- 2 forms.
9. Finally, the supplier can either accept or reject the details of inward supplies given in GSTR- 1A.
Steps to file GST returns in an offline process
You can do GST Annual Return Filing offline as well. You must download an offline tool for filing GST returns. After downloading this offline tool on your smart devices, it is easy to file GSTR-1 and GSTR-2 forms by following the same steps of online GST return filing.
What is the procedure to download the GST returns form?
It is very easy to download the GST returns form from the official government portal by following the steps such as:
Ø The first step is to visit the GST portal and log in with your email ID and password.
Ø Now, you have to click on the Service option. Then you have to click on the option "Returns" and click on Returns Dashboard.
Ø The next month is to select the month and year from the list.
Ø Now, you have to click on the "prepare offline" option.
Ø Point your cursor on the option "Download" and then click on the option "Generate File".
Ø Now, you have to tap on the "Click here" link and download the link. You have to get a ZIP file on your PC.
Ø The next step is to open the file with the help of the GST offline tool. Now, you have to click on the Open option under the open downloaded return file on the GST portal.
This procedure is the same for downloading every type of GSTR file.
Different kinds of GST returns
The different kinds of GST returns are:
· GSTR-1
· GSTR-2A
· GSTR-2B
· GSTR-3B
· GSTR-4
· GSTR-5
· GSTR-5A
· GSTR-6
· GSTR-7
· GSTR-8
· GSTR-9
· GSTR-9C
· GSTR-10
· GSTR-11
Who is eligible to file GST returns?
Businessmen who earn an annual turnover of INR 40 lakhs in states other than north-eastern states must file GST returns. Businesses operating from Northeastern state earning an annual turnover of INR 20 lakhs must choose the option of GST Return Filing. Now, let us have a look at the type of GST form filed by different taxpayers:
1. GSTR-1 This form must be filed by every registered person.
2. GSTR-2A – It is a type of view-only autofill form
3. GSTR-2B- VIEW ONLY FORM
4. GSTR- 3B- to be filed by normal taxpayers
5. GSTR- 4- to be filed by composition dealer who applies for composition scheme
6. GSTR-5- Non-resident foreigners
7. GSTR- 5A – this GST Return Filing in India has to be filed by non-resident OIDAR service providers
8. GSTR-6- this return has to be filed by the Input service distributor
9. GSTR-7- this return is to be filed by TDS deductors
10. GSTR- 8- E-commerce operators file this kind of GST
11. GSTR-9- normal taxpayers under GST
12. GSTR- 9C- normal taxpayers under GST
13. GSTR- 10 – This GST return is filed by the persons whose GST registration was canceled.
14. GSTR-11- Foreign diplomatic missions for refund claims.
Final words
If you fail to file GST returns, there are both late fees and interest. You have to pay an interest of 18% on the outstanding amount to be paid. Under CGST and SGST, you have to pay a late fee of INR 100 and INR respectively.
There are also many benefits of NIL Return for taxpayers. This blog helps many taxpayers to file GST returns on or before due date.