What are GST Returns and why you need to file returns?

GST return is a statement of supplies made during the period, that we furnish to government. In simple terms GST returns are statements we have to file or provide to government.

These statements (returns) contains details such as Outwards supplies, Inward supplies and other information.

We need to file these returns because law requires it. Every person registered under GST has to file returns.

Different types of returns are prescribed under GST law for different persons.

What type of returns you have to file depends on type of registration and your turnover during the year.

Returns are required to be filed, so that government has details of:

  • Outward supplies (Sales)
  • Inward supplies (purchases)
  • Tax liability

Returns are an important part of any tax system. We have moved away from Inspector Raj and now most of taxes are based on self assessment policy. When you file a return, you are actually assessing your tax liability on your own and government believes the information to be correct.

You have to provide true and correct information in your returns to avoid any penalty and interest later on.

What are different returns to be filed under GST?

Under GST monthly returns, quarterly returns and an annual return has to be filed. If you have cancelling your registration, you have to file a final return.

Every registered person has to file returns. Though the frequency and level of information to be provided depends on type of return.

For example, a person who has turnover below 1.5 crore in a year and has opted for quarterly returns, need to file GSTR-1, GSTR-2 on quarterly basis.

A person with turnover more than 1.5 crore in a year has to file GSTR-1, GSTR-2 on monthly basis.

Different returns to be filed under GST with due dates

Return Form Purpose of Return Applicable To Due Date
GSTR-1 Detailed information of outward supply during the month Every registered person 10th of next month
GSTR-2 Detailed information of inward supply during the month Every registered person 15th of next month
GSTR-3 GST Monthly return Every registered person 20th of next month
GSTR-4 GST Quarterly return Person paying tax under Composition levy 18th of month succeeding ended quarter
GSTR-5 Return for Non-Resident foreign taxable person Foreign taxable person 20th of next month
GSTR-6 Return by a Input Tax distributor Input Service Distributor 10th of the next month
GSTR-7 Return for Tax deducted at source Person deducting tax at source 10th of next month
GSTR-8 Details of supplies on E-commerce operator portal and Tax collected at Source E-commerce operators 10th of next month
GSTR-9 GST Annual Return Every registered person 31st December following end of a financial year
GSTR-10 GST Final return Person surrendered registration Within 3 months of cancellation
GSTR-11 Details of Inward supplies Person having UIN and claims refund 28th of next month

If your turnover is below 1.5 crores, then you will have to file return quarterly instead of monthly return.

Steps in filing GST returns

You can appoint KnowyourGST team to help you file your GST returns. You can avail our expertise at a low price of Rs. 1500 per return.

You can file your return yourself.

Steps involved in filing GST returns are:

  • Login to GST website
  • Go to Return Dashboard
  • Select month/period for return to be filed
  • Save information in return (using online facility or offline utility)
  • Submit return
  • File your return with EVC or DSC

You can file your return with KnowyourGST. Concentrate on your work and we will take of your GST returns.

To avail our expertise, you need to fill the form given in your right hand side. We need your mail id and mobile to contact you.

Fill the details and proceed for payment. Once payment is made, you will receive a call or mail from us requiring further information and details to file your return.

We will collect details from you. Arrange in return format, save on GST website and submit the details.

Once you verify your details, we will file your return using EVC method or DSC as per applicability.

Other than Companies and LLP, you can file your return with EVC. For comapnies and LLP, DSC is compulsory.

Late fee for late filing of GST Returns

If you miss to file a return, or filed return after due date. You are liable for late filing fee.

At present you need to pay Rs. 50 per day for every delayed day. Rs. 25 for each tax head (SGST and CGST).

However for Nil returns (no transactions during the period) late filing fee is reduced to Rs. 20 per day.

Interest on late payment of GST tax liability or wrong utilisation of input tax credit

If you have not paid your taxes on time, then you are liable for interest.

You have to pay interest at 18% per year if you have paid taxes after due date.

Interest rate for wrong utilisation of input credit is 24% per year.



Online GST Returns Form

Rs. 1,500 per Return.

contact_phone - 73386-33003 (9 AM to 7:30 PM)