| বাংলা | | English | | ગુજરાતિ | | हिंदी | | ಕನ್ನಡ | | മലയാളം | | मराठी | | ਪੰਜਾਬੀ | | தமிழ் | | తెలుగు |
  • 9711101954 , 9330160431
  • oneclickbusinesssolutions@gmail.com
  •  
    OneClick Business Solutions

    GST Return Policy Company in India

    Each and every business should perform GST Return Filing as it is a compulsory compliance for each business. This is registered under the GST Act/regime. According to Goods and Services tax (GST), this is an essential activity to file the GST returns. GST is like a bridge between the government and the taxpayer. The taxpayer needs to give the information like business activity in detail, payment of taxes, declaration of tax liability and other important information as needed by the government.

    GST returns are filled online via GST Portal. However one can file GST returns manually. In those cases, returns are made offline and then they are uploaded to GSTIN portal through a facilitation centre or the taxpayer.

    WHO NEEDS TO FILE GST RETURNS?

    Every GST registration holder who comes under tax liability under the GST Act 2017 is needed to file GST returns depending on the nature of their business. Therefore if you are involved in the selling of goods or offering services to your clients, it is important to get GST registration and also file the returns regularly. According to GST, a registered business involved in the following tasks requires to file GST return :

    Purchase

    Sales

    ITC (Income Tax Credit) with GST paid while purchasing

    Output GST (in case of sales)

    WHO DOES NOT NEED FILING GST RETURNS?

    If you have done GST registration but your business turnover does not reach the threshold limit of Rs. 40 lakh, then you don't need to fill GST returns. On the other hand, any business in hilly and the North Eastern regions with the turnover below Rs. 20 lakh is not needed to file GST returns.

    CATEGORIES OF GST RETURN FILLING IN INDIA

    In India, there are a number of GST return types. The number of returns needed to be filed based on the type of taxpayer :

    Filing of Returns by a Normal Taxpayer

    RETURNS PARTICULARS DUE DATE
    GSTR-1 Particulars of Outward Supplies 10th day of the next month
    GSTR-2 Particulars of Inward Supplies 15th of the next month
    GSTR-3 Monthly return of tax payment 20th day of the next month
    GSTR-9 Annual return (Turnover>2 Lacs/ Voluntary) 31st December of the next financial year
    GSTR-9C Annual Audit (Turnover>2 Lacs) 31st December of the next financial year

    Filling of Returns by a Composition Taxpayer

    RETURNS PARTICULARS DUE DATE
    GSTR-4 Quarterly Return 18th of each month of next quarter
    GSTR-9A Annual Return (Turnover>2 Lacs/ Voluntary) 31st December of next financial year
    GSTR-9C Annual Audit (Turnover>2 Lacs) 31st December of the next financial year

    Additional Returns depending on the type of the Business

    RETURNS PARTICULARS DUE DATE FILED BY
    GSTR-5 Particulars of both inward and outward supplies. Consumption of tax liability 20th day of the next month. If is in last month, either 7 days following expiration or 20th of the next month whichever is earlier A taxable person who is non-resident
    GSTR-6 Distribution of Input Tax credit 13th day of succeeding month Input Service Distributor
    GSTR-7 Details of TDS or any other related alternations 10th of next month Tax is deducted at source by authorities
    GSTR-8 Detail records of supplies effected with them 10th of succeeding month Tax is collected at source by e-commerce operator

    HOW ONE CLICK BUSINESS SOLUTIONS WILL PROVIDE YOU WITH ASSISTANCE?

    We at One Click Business Solutions Private Limited have qualified and experienced professionals to :

    Fill the form

    Get a callback

    Submit document

    Track Progress

    Obtain Deliverables

    At our company, we are always transparent and trustworthy with our clients. Our motto is to provide our customers with reliable business services at cost-effective price.

    Eligibility for return filing

    Registered persons taxable under GST must file 3 monthly returns and 1 annual return

    All the businesses that do not exceed the exempted limit, which is Rs. 2 lakhs throughout India and Rs.10 lakhs in North Eastern and hilly States, is not suitable

    All those businesses exceeding this limit requires filing GST return

    This must be valid, even if the unit makes no sale during a year in the type of NIL returns

    A company having turnover exceeding Rs. 1.5 crore requires filing returns monthly. And if the company has turnover that exceeds Rs.1 crore then, it must be filled annually also. Below this threshold limit, a company has an option for filing it as par their needs.

    Documents needed for GST Returns

    GSTR-1

    Legal Name of the registered person

    GSTIN

    Taxable outward supplies to a registered person

    Taxable outward supplies to a consumer

    Aggregate turnover of previous financial year

    GSTR-2

    Legal name of the registered person

    GSTIN

    Receipt of TDS and TCS

    Inward supplies received besides those attracting reverse charge

    Inward supplies where tax is pertinent on reverse charge

    GSTR-3

    Turnover

    Intra-state supplies

    Inter-state supplies

    Inward supplies attracting reverse change

    Tax effect of amendments made concerning outward supplies

    GSTR-4

    GSTIN

    Inward supplies where tax is to be paid on reverse charge

    Legal name

    Corrections to details of inward supplies furnished in returns of previous periods

    Consolidated statement of advances paid

    GSTR-5

    GSTIN

    Legal name

    Imported goods

    Outward supplies made

    Imported services

    GSTR-6

    GSTIN

    Legal name

    Input tax credit received for distribution

    Amendments to distribution documents and debit or credit notes of previous periods

    GSTR-7

    GSTIN

    Legal name

    TDS details

    Return period

    Liability- payable and paid

    GSTR-8

    GSTIN

    Legal name

    Details of supplies made via e-commerce operator

    Tax paid and payable

    Details of interest

    GSTR-9

    Turnover

    Inter-state supplies

    Intra-state supplies

    Tax effect of amendments made concerning outward supplies

    Inward supplies attracting reverse change

    GSTR-10

    GSTIN

    Legal name

    Effective date of cancellation/surrender

    Cancellation order date

    Tax payable on closing stock

    GSTR-11

    Unique Identification Number

    Name of the persons having UIN

    Details of the supplies

    Tax period

    Frequently Asked Questions

    Ques: What is known as GST return?

    GST return is a document that contains the details of the income of the taxpayer. This document needs to be filed with the tax authorities.

    Ques: How to complete filing GST return?

    One can perform filing GST return using GST software or by availing our assisted plans for normal taxpayers, e-commerce tax plan or other taxpayers.

    Ques: What are the kinds of GST return?

    Following are the kinds of GST returns :

    GSTR-1- For filing monthly return of the outward supplies

    GSTR-2- For filing monthly return of the inward supplies

    GSTR-3 - For the monthly return including the details of the taxpayers from the other forms such as GSTR-1, GSTR-2, GSTR-6, GSTR-7)

    GSTR-4- For the quarterly return

    GSTR-5- For the variable return needs to be filed by the non-resident taxpayer

    GSTR-6- For the monthly return needs to be filed by the input service distributor

    GSTR-7- For the monthly return is to be filed for the Tax Deducted at Source (TDS)

    GSTR-8- For the monthly return needs to be filed by e-commerce operator

    GSTR-9- For the annual return

    GSTR-10- For the final return paid before finishing business operations permanently

    GSTR-11- For the taxes requires to be paid by the taxpayers with a Unique Identification Number (UIN)

    Ques: Should e-commerce operator file a return independently?

    Yes, all e-commerce websites that permit other producers and sellers using their website should file the return using the GSTR-8. If you use your own portal, then there is no need to file this return.

    Ques: What is known as the purpose to file GST return?

    The benefits or purpose to file GST return are as follows :

    It is used to confirm the tax liabilities of the tax payer within the specific time

    Furthermore, it offers essential inputs for taking policy decisions

    Information regarding mode of transfer to tax administration

    It is easier to deal with audit and anti-tax evasion tasks of tax administration

    Ques: Who can file Annual return?

    Businesses who file for GSTR-1 to 3, except casual taxpayers and taxpayers under composition scheme need to file annual return.

    Ques: Which parts are auto populated in GSTR-2 from GSTR-1?

    A big part is auto populated from GSTR-1 to the GSTR-2 but some information is to be supplied into GSTR-2 still now. Like the details of imports, details of purchases from non-registered or composition suppliers and exempt/non-GST/nil GST supplies and others.

    Ques: Does one require affixing the scanned copy of invoices with GSTR-1?

    No, but certain information from the invoices need to be uploaded.

    Ques: What is known as periodicity of the GST return filing?

    It depends completely upon the kind of registration and transactions. Different periods are allotted for this.

    Monthly returns must be filed by the regular foreign non-residents, taxpayers, tax deductors, input service provider and e-commerce operators.

    Quarterly returns require to be filed by the composition taxpayers.

    Ques: Is there any need to file separately for CGST, SGST and IGST?

    No, the return forms are general for all the three. However there is a separate column in each which one requires filing depending on the inter-state and intra-state supply.

    Ques: What GST return needs to be furnished for a non-resident taxable assessee?

    R-5 is required to be furnished for a non-resident taxable assessee. These are the suppliers that came for a short while for making supplies in India. But they don't have a business enterprise in the country. The significant headlines for GSTR-5 are as follows :

    GSTIN

    Imported services

    Imported goods

    Details of debit credit notes

    Outward supplies made

    Call Button