Hassle-Free GST Return Filing in India
GST (Goods and Services Tax) Return Filing is a mandatory compliance requirement for all businesses registered under the GST regime in India. Here are the key points you need to know about GST return filing:
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INTRODUCTION
What is GST Return Filing?
In India, the majority of the indirect tax system is now governed by the Goods and Services Tax (GST) regime. Businesses registered under GST must comply with regular return filing requirements as specified by law. The type of GST returns to be filed and the deadlines depend on the nature of the business and its annual turnover.
By filing GST returns online, taxpayers declare details of their sales (outward supplies) and purchases (inward supplies) to the Goods and Service Tax Network (GSTN). This includes the total tax collected and paid during a given period.
A taxpayer must pay the net GST liability ā the amount collected from customers minus the eligible Input Tax Credit (ITC) on purchases ā to the government along with submitting these returns. Filing accurate and timely GST returns is essential to remain compliant and avoid penalties.
Advantage
Advantages of GST Return Filing
Seamless Flow of Input Tax Credit (ITC)
One of the biggest benefits of timely GST return filing is the smooth flow of Input Tax Credit (ITC). The tax amount payable can be offset against the tax already paid on purchases, reducing your overall tax burden. However, this credit is available only when both the supplier and the recipient file their GST returns accurately and on time. If returns are not filed, the taxpayer loses the right to claim ITC.
Single and Simplified Form for All Taxes
Under the GST regime, three types of taxes are collected ā IGST, CGST, and SGST/UTGST. GST return filing consolidates all these details into a single form, making the entire process straightforward and user-friendly. This unified system reduces duplication and saves time for businesses of all sizes.
Improved Compliance Rating
The GST Network assigns compliance ratings to registered taxpayers based on timely and accurate filing. A good compliance score builds trust and credibility for your business, as these ratings are visible to other businesses and the public. Consistent compliance ensures a better score and smoother operations.
Avoid Penalties and Interest
Delays in filing GST returns attract a late fee of ā¹50 per day for returns with tax liability and ā¹20 per day for NIL returns. In addition, interest at 18% per annum is charged on the outstanding tax amount. Timely filing helps you avoid unnecessary penalties, interest payments, and legal complications.
A LIST OF DOCUMENTS
ā Requirements for Filing GST Return
To file your GST return smoothly, you need to have the following essentials ready:
š Digital Signature (DSC)
A valid Digital Signature Certificate (DSC) of the Authorized Partner or Director is mandatory in the case of LLPs and Companies.
š GST Registration Certificate
You must have a valid GST Registration Certificate for your business.
š Login Credentials
Keep your GST Portal user ID and password handy to access your account for return filing.
š Details of Supplies
Prepare accurate data of all inward and outward taxable supplies. This includes detailed invoice information for purchases and sales made during the period.
Types of Return under GST
The GSTN has established various forms for filing returns according to the kind of transactions.
GSTR - 1
Details of outward (sales) supplies.
GSTR - 4
Quarterly return for taxpayers under the Composition Scheme.
GSTR - 7
Monthly TDS return for tax deductors.
GSTR - 2
Details of inward (purchase) supplies (currently suspended)
GSTR - 5
Return for non-resident foreign taxpayers.
GSTR - 8
Monthly return for e-commerce operators (TCS).
GSTR - 3
Monthly consolidated return with tax payment.
GSTR - 6
Monthly return for Input Service Distributors (ISD).
GSTR - 9
Annual return for regular taxpayers.
ā How to File GST Return Online in 3 Easy Steps
Step 1: Answer Quick Questions
š Choose a package that best suits your business needs
ā±ļø Spend less than 10 minutes filling out our simple questionnaire
š Provide basic details and upload the required documents
š³ Make payment through our 100% secure payment gateway
Step 2: Experts Are Here to Help
š¤ A dedicated Relationship Manager will be assigned to you
š Our experts will reconcile the information filed
šļø Preparation and online filing of your GST return
ā Receive an acknowledgment once your GST return is filed
Step 3: Your GST Return Is Duly Submitted
āļø All it takes is just 3 working days*
š Subject to Government processing time
š Detailed Process Timeline
Day 1
Collection of necessary information from the taxpayer
Data collection can be done manually or from dedicated GST-ready accounting software
Documentation and reconciliation of filed information
Day 2 ā 3
Preparation of the GST return by our experts
Payment of taxes by the taxpayer, if applicable
Online filing of the GST return on the GST portal
Acknowledgment of successful filing shared with the taxpayer
Frequently Asked Questions
Have questions before reaching out? Here are quick answers to some of the most common queries we receive about contacting us, consultations, and service inquiries.
Yes. Every registered GST dealer must file returns as per their business activities. Non-filing can attract penalties and late fees.
GST payments like tax, penalty, or fees can be made through:
Internet Banking
NEFT / RTGS
The amount gets credited to your electronic cash ledger
Filing returns updates the government about your transactions, helps calculate tax liability, allows you to claim eligible Input Tax Credit (ITC), and maintains a good GST compliance rating.
Any supply of goods or services (sale, transfer, barter, lease, etc.) done for consideration is a taxable event under GST.
Yes, all regular taxpayers (filing GSTR-1 to GSTR-3) must also file an annual return (GSTR-9). Exemptions apply to ISDs, casual/non-resident taxpayers, composition scheme dealers, and TDS/TCS deductors.
You need invoice details like HSN code for goods, SAC for services, plus details of all sales, purchases, and expenses for the period.