File GST return

About File GST return

How to File GST Return

Every registered taxpayer in India, according to law, is required to file returns for a prescribed tax period before a specified due date. Like all earning individuals have to file income-tax returns (ITR), all business owners, dealers, traders and taxpayers registered under the Goods and Services Tax (GST) system need to file GST returns. They have to furnish business information like purchases, sales, tax collected, tax paid and others on the GST portal. This procedure is carried out by filing GST return online on a periodic basis by using appropriate GST return forms.

For instance, if you are a business owner, you must declare the income that you get from carrying out business transactions. GST returns contain all the details of your purchases, sales, tax collected on sales (output tax), and tax paid on purchases (input tax). The taxpayer has to file a summary of self-assessed liabilities, input tax credit (ITC) and details of tax payment. Once you file GST return, you will need to pay the resulting tax liability (money that you owe the government).

What is GST?

PM Narendra Modi-led Bharatiya Janata Party (BJP) government introduced GST in a historic midnight session of Parliament on July 1, 2017. Touted as the biggest tax reform in India, GST was brought in with the aim of rolling out ‘One Nation, One Tax’.

GST eventually replaced all indirect taxes levied on goods and services by the central and state governments, in a bid to make the indirect taxation structure easier. The GST system subsumed Central Excise Law, Service Tax Law, State VATs, Entry Tax, Luxury Taxes, entertainment tax, etc. Under the GST, there is only a single tax on the supply of goods and services across the country, which means, the consumer will pay only the GST charged by the last dealer in the supply chain.

How to file GST return?

1. Visit the GST portal gst.gov.in to file the GST return online.

2. Keep GST-compliant sales and purchase invoices ready while filing GST return

3. Log on to the GST portal with valid credentials

4. After logging in, perform the following steps by clicking on: Services > Returns > Returns Dashboard command

5. ‘File Returns’ page will appear, select the financial year and the return filing period (month) for which you want to file the return and click on ‘Search’

6. You will receive a 15-digit GST identification number based on your state code and PAN number

7. Upload the invoices, and an invoice reference number will be issued against each invoice

8. Now select the return you want to file and click on ‘Prepare online’

9. Fill all the required details, including the amount and late fee, if applicable

10. Once you have filled in all the details, click on ‘Save’ and you will see a success message displayed on your screen

11. Now click on ‘Submit’ at the bottom of the page to file the return.

12. When the status of your return changes to ‘submitted’, scroll down and click on the ‘Payment of tax’ tab

13. Click on ‘Check balance’ to view cash and credit balance, so that you know these details before paying tax for respective minor heads

14. To clear your liabilities, mention the amount of credit you want to use from the credit already available. Then click on ‘Offset liability’ to make the payment

15. When a confirmation is displayed, click on ‘OK’.

16. Check the box against the declaration and select an authorised signatory from the drop-down list. Now click on ‘File form with DSC’ or ‘File form with EVC’ and then click on ‘Proceed’

17. Make the payment in the next step for your respective GST form

From GSTR-1 to GSTR-11, there are at least 12 types of GST forms. Here is the key usage of each of these forms:

a. GSTR-1 requires the taxpayer to furnish details of outward supplies or sales

b. GSTR-2 requires furnishing details of inward supplies or purchases

c. GSTR-3 requires furnishing monthly return

d. GSTR-3B is a summary return for the month of July and August

e. GSTR-4: is required by ‘Composition Tax Payers’ to file GST return

f. GSTR-5 is required by Foreign Non-Resident Taxpayer to file GST return

g. GSTR-6 is required by Input Service Distributor to file GST return

h. GSTR-7 is required by a ‘Tax Deductor’

i. GSTR-8 is statement for Tax Collection at Source

j. GSTR-9 is an ‘Annual Return’ to be filed by ‘Composition Dealers’ and the last date to file this time is 31 August 2019

k. GSTR-10 is the ‘Final Return’

l. GSTR-11 is the Inward supplies statement for people having ‘Unique identification Number’ (UIN)

Latest Updates on File GST return

Premium

GST superstructure lacks some basic features even after 5 years

Currently, there is no appellate mechanism in place for rulings by the GST authorities and a group of ministers is deliberating on it

Updated On: 06 Dec 2022 | 11:54 AM IST

Premium

Quicker refunds helping exporters in GST regime

Overall, the five years of GST have made life easier for exporters and importers, despite some rude shocks and unresolved issues

Updated On: 27 Jun 2022 | 1:06 AM IST

Premium

States seek legal views on Supreme Court ruling before GST Council meet

While many states want to extend the GST compensation regime beyond June 2022, the Centre's view stands that the compensation will be given to states only until that time

Updated On: 24 May 2022 | 6:10 AM IST

LIVE: Teamwork of AI with humans can do wonders for our planet, says PM

PM addresses summit on Artificial Intelligence. Encourages use of AI responsibly and calls for united front against weaponisation of AI

Updated On: 05 Oct 2020 | 7:57 PM IST

Odisha registers over 13% growth in SGST collection in July to Rs 794 crore

The negative growth rates of the SGST collection were recorded in April, May and June this year

Updated On: 02 Aug 2020 | 3:02 PM IST

Premium

GST rates can be reduced further once tax base increases: Finance Secretary

"Once the tax base increases and if we are able to enforce our tax laws and everyone pays taxes properly, there will be definitely scope for further reduction of taxes."

Updated On: 24 Jul 2020 | 7:49 AM IST

GST Council updates: No fees for GSTR-3B for those with nil liabilities

Members of the GST Council discussed issues over videoconferencing in their first meeting since the coronavirus lockdown was imposed

Updated On: 12 Jun 2020 | 4:53 PM IST

Premium

Covid-19 crisis: Central GST collection falls 87% in April amid lockdown

The dip in revenue collections is being attributed to the country being put under lockdown to contain the coronavirus from March 24 and return filing being deferred

Updated On: 31 May 2020 | 12:56 AM IST

Premium

Rs 5,575-cr indirect tax refunds processed since March 30, says CBIC

Earlier, the tax body had initiated a measure to help GST return filers by facilitating early refund of input tax credit

Updated On: 18 Apr 2020 | 10:06 AM IST

Premium

Centre releases another Rs 34,000 cr GST compensation to states, more soon

States, so far, have been paid pending dues till November and the remaining will be cleared in phases soon

Updated On: 08 Apr 2020 | 5:41 PM IST

Premium

Six changes in tax rules that come into effect today

Today is first day of the financial year 2020-21, and with new year come new tax rules. Here are the six changes that come into effect from today

Updated On: 01 Apr 2020 | 8:16 PM IST

Budget 2020: Govt to bring simplified return form for GST from April 2020

In her second Budget presentation, the finance minister said GST has resulted in gains of Rs 1 lakh crore to consumers and removed inspector raj and also helped the transport sector

Updated On: 01 Feb 2020 | 11:35 AM IST