What are the due dates & procedures for Online GST Return?

Goods & Services Tax or GST as most of you get to pronounce has become a new ache for the business person ever since its inception. It’s been two years since the GST was introduced by the government but still many of you are still not aware of GST details. The first question that comes into your mind when you hear about GST is the GST return.

So, the first question that comes to your mind is what is this GST return? GST return is nothing but the details of the taxpayer who is paying the GST. Any registered dealer needs to file a GST return that contains four aspects:

  • Sales
  • Purchases 
  • GST received on Sales
  • GST paid on purchases

But in order to file a GST return, you must get your company registered on the GST portal and the GST registration process is quite simple. You can easily register on the GST portal if you have your pan card, UID, GSTIN number, mobile number and a registered email ID. You can download the tutorials from YouTube and easily register on the portal with ease.

Who needs to file the GST return?

Any regular business has to file a maximum of two returns in a month to go with an annual return. So, all in all, you need to file 26 GST returns in a year if you are a business person. You can register for GST if you are not having a GST number already and start filling your returns.

The best thing with these returns is that the first return GSTR-1 has to be manually filled in person. While GSTR-B will be automatically filled by picking up the details of you and your vendors.

What are the different types of GSTR returns & due dates for the same?

There are various types of GSTR filing by dealers based on their sale and categories. Here is a brief look at the same along with due dates to help you out:

  • GSTR 1- Needs to be filed monthly for goods sale and purchase. (before 11 of the next month)
  • GSTR 2-  Currently suspended by the government
  • GSTR 3- Suspended by the government
  • GSTR 3B- Monthly return with monthly supplies of the stock. (before 20th the next month)
  • GSTR 4- For those registered under the composition sector. You have to go for GST registration online in order to file these returns. (18th of the month after the quarter-end)
  • GSTR 5- It is applicable for the non-resident Indians that are liable to pay business tax in India. (20th of next month)
  • GSTR 6- It is applicable for the Input service providers (13th of Next month)
  • GSTR 7- for those who are deducting the TDS from customers. ( before 10th the next month)
  • GSTR 8- For e-commerce based services (10of the succeeding month)
  • GSTR 9- Annual GST return for a business person (31st December in the next financial year). You need to follow the process for GST registration in order to file the return.
  • GSTR 9A- Annual GST return for those registered under composition levy (31st December in next year)
  • GSTR 10- Final return submitted every quarter after the new GST registration.
  • GSTR 11- for those having UIN and asking for the refund to be filed before the 28th in next month.

Procedure for online GST filing:

The first thing that you need to do is to get a GST application for registering under the Goods & services tax. After the online GST registration is complete, you can go about filing the form. You just need to file the tax as per the data of your sales in the system and you can generate the challan afterwards for remitting the funds to GOI. You can also pay the same using internet banking. In case of any problem, you can get in touch with experts that may charge you a bit but will make it simpler to file the return for your company.

Penalty for late filing:

One of the things that you need to know with the GST return is that you have to be punctual because late payment attracts a penalty from your end. So, file the return before the due date. You must also keep checking on the GST Registration status before filing your return.

In case of any problem, in understanding the GST Registration Process it is better to get help from the experts.