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What is GST Return filing?

The Goods and Services Tax (GST) law now governs a significant portion of India's indirect tax system, and suppliers registered under this regime must comply with the regulations on a regular basis. The law prescribes the requirements and filing periods for returns based on turnover and activities. Taxpayers can file their GST returns online, informing the Goods and Services Tax Network (GSTN) about the inflow and outflow of supplies, along with the amount of tax paid and collected. As they record taxable transactions with the government, taxpayers must also pay the amount of tax collected from the outward supplier of goods or services, after deducting Input Tax Credit (ITC).


Benefits of GST Return filing

Seamless flow of ITCC

When recording tax paid and collected transactions through return filing, the tax already paid by the supplier is deducted from the liability to pay taxes. Only if both parties have filed returns can Input Tax Credit (ITC) be passed on to the buyer; otherwise, the buyer cannot claim the ITC. It is crucial for registered persons to file their returns on time, or else they will be unable to claim input credit.

Simple and common form for all taxes

The GST regime comprises three different types of taxes: IGST, CGST, and SGST, all of which must be recorded in a single form. The online filing system for GST returns is already simplified, and there are plans to simplify it further by introducing a single form for recording all transactions. .

Score higher compliance rating

The GST Network has implemented a compliance rating mechanism to oversee the compliance structure. All registered individuals are assigned ratings based on their adherence to compliance and tax payment requirements. These compliance ratings are available to the public on the website. Taxpayers who regularly comply are awarded higher compliance ratings. .

Avoid penalty and interest

The text is reminding taxpayers about the importance of filing their GST returns on time to avoid being penalized. If they do not file on time, they will be charged a late fee of ₹50 per day until they file. It's worth noting that taxpayers with no tax liability must still file their returns to avoid a late fee of ₹20 per day for any delays. Additionally, if there are outstanding tax liabilities, interest will be charged at a rate of 18% per annum. .


Requirements to file GST Return online


Digital Signature

DSC of Authorised Partner or Director, in case of LLP and Company only

Certificate

GST Registration Certificate

Log-in credentials

Log-in credentials of the registered person

Details of Supplies

Details of the inward and outward taxable supplies along with the invoice details


How to File GST Return Online in 3 Easy Steps:

1. Answer Quick Questions
  • Spare less than 10 minutes to fill in our questionnaires
  • Provide basic details & documents required for registration
  • Make payment through secured payment gateways
2. Experts are Here to Help
  • Assigned Relationship Manager
  • Reconciliation of the information filed
  • Preparation and filing of GST return
  • Acknowledgment of filing GST returns
3.Your GST Return is duly submitted
  • All it takes is 3 working days*
*Subject to Government processing time

Process for filing return

Day 1
  • Information collection from the details shared by the taxpayer manually or from dedicated GST ready Accounting Software
  • Documentation and reconciliation of the information filed
Day 2 - 3
  • Preparation of GST return
  • Payment of tax by the taxpayer, if required
  • Online GST return filing
  • Acknowledgment of filing the GST Returns

Explore GST return filing in India

Frequently Asked Questions


Every registered dealer, whether being a normal supplier or otherwise must file the return based on the transactions or activities involved in the business. Non-filing of the same may lead to default and may attract a penalty or additional fees.

Tax Payment or any penalty, fees, etc. are accepted through the following modes;
  • Internet Banking
  • NEFT or RTGS

    • This amount shall be credited to the electronic cash ledger of the registered dealer.

By filling the returns with the Government, the information and details will be intimated to the Government. Further, the data provided will measure the liability of the Tax-payer. Also, returns filing help you claim the eligible Input Credit. In addition to which the regular filing will count on higher rating in the GST Compliance Rating.

Any supply i.e. transaction such as the sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration, of taxable goods or services, needs to be considered as a taxable event under the GST Act.

All taxpayers filing a return in GSTR-1 to GSTR-3, other than ISD’s, casual/non-resident taxpayers, taxpayers under composition scheme, and TDS/TCS deductors, are required to file an annual return (GSTR-9) along with the monthly return. .

Prescribed information from the invoices including the HSN code in respect to the supply of goods and the accounting code in respect to the supply of the services generated needs to be uploaded in the return. The information shall also cover the sales, purchase and any expenses occurred during the reporting period.

Transaction-wise details are to be provided on the monthly basis by a client. This is to be done manually in the shared format by ProTax Solutions. Or one can opt to take an extract from the accounting software (GST Ready Software) by nxtwaystartup.com, which will be reviewed by the experts and the return will be filed after a thorough review and confirmation. .

The qualified Chartered Accountant(s) reviews the provided information. The experts will then direct the possible solutions in case of any discrepancy found in the data of outwards and inwards supply.

The data or the invoices shall be provided in CSV format. In case if the client is using any Accounting software like Tally, QuickBooks etc., the details can be easily extracted in CSV format which will be used to feed the data in Returns.

Transaction accounted in any software (GST Ready) like tally, QuickBooks, or any cloud-based accounting that allows data sharing and transfer into CSV format. This is to ensure speedy and hassle-free GST filing process.

How should I give access to my accounts software to ProTax Solutions to automate the online GST return filing process?

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