Goods and Services Tax (GST) is applicable in India from 1st July 2017. Under the new GST regime, nearly 1.4 crore businesses in India have obtained GST registration. All entities having GST registration are required to file GST returns every month. GST return filing is mandatory for all entities having GST registration, irrespective of business activity or sales or profitability during the return filing period. Hence, even a dormant business that obtained GST registration must file GST return.

GST Registration

Persons or entities in India involved in the supply of goods or services must obtain GST registration when the threshold limit for registration is crossed. In most states, GST registration is mandatory when a person supplies services or goods over Rs.20 lakhs per year. In addition to the turnover limit, GST registration is compulsory for all persons undertaking eCommerce sales.

Whose should file GST Return?

GST registration holders are required to file GSTR-3B return every month providing details of sales and purchases made in a month to the Government. GSTR-3B return is due on the 20th of each month.

In addition to GSTR-3B return, businesses registered under GST must file GSTR-1 return. GSTR-1 return must be filed every month by businesses having annual revenue of over Rs.1.5 crores. In case a business has a yearly revenue of less than Rs.1.5 crores, GST return should be filed every quarter.

Annual GST return must be filed by all GST entities having GST registration. The due date for filing GST annual return for FY 2017-18 is 31st December 2019. The due date for filing GST annual return for FY2018-19 is 31st March 2020.

GST Return Due Dates

The following are upcoming GST return due dates:

1. November GSTR-3B will be due on 20th of December 2019.
2. November GSTR-1 return for persons having annual revenue of more than Rs.1.5 crores will be due on 11th December 2019.
3. October - December GSTR-1 return for persons having annual revenue of less than Rs.1.5 crores will be due on 31st January 2020.

Keep watching this page for the latest updates to GST return due dates.

Penalty for Late Filing GST Return

Failure to file GST returns on time to can lead to penalties and cancellation of GST registration. If GST return is continuously not submitted for six months, then the GST registration would be cancelled, and the person would not be able to obtain another GST registration - unless all the late filing penalty is paid.

The penalty for late filing GST return is different for persons having NIL return and persons having turnover. In case a person has no business, NIL GST return must be filed. Failure to file NIL GST return can lead to a penalty of Rs.20 per day for each of the GSTR-3B return and GSTR-1 return. So, failure to file NIL GST return can result in a penalty of Rs.40 per day or Rs.1200 per month.

In case a person has business activity during the period for which GST return is late-filed, then a penalty of Rs.50 per day will be applicable for late GSTR-3B return and Rs.50 per for GSTR-1 return. Hence, a penalty of more than Rs.3000 per month would be applicable.
In addition to the above late filing fees, the person would also have to pay interest at the rate of 18% on GST payment remitted late to the Government.

Composition Scheme Return Filing

All persons registered under the Composition Scheme are required to file FORM GSTR-4A every quarter through the GST Common Portal or through a GST Facilitation Centre. GST return for those enrolled under Composition Scheme is due on the 18th of the month, succeeding a quarter. Hence, GST return for composition scheme would be due on April 18th, July 18th, October 18th and January 18th. The GST return filed by a Composition Scheme supplier must include details of:

1. Invoice wise inter-State and intra-State inward supplies received from registered and unregistered persons
2. Consolidated details of outward supplies made

Also, if a registered person opted to pay tax under composition scheme from the beginning of a financial year, then the taxpayer must file monthly GST returns on the 10th, 15th and 20th of each month and monthly returns till the due date of furnishing the return for the month of September of the succeeding financial year or furnishing of annual return of the preceding financial year, whichever is earlier. Hence, even if a taxable person under GST opted for composition scheme from April onwards, the taxpayer must continue filing monthly GST returns until September.

Know more about due dates for filing of GST returns.

Composition Scheme – GST Payment Due Date

While filing the GST composition return, the taxpayer is also required to discharge liability towards tax, interest, penalty, fees or any other amount payable under GST by debiting the electronic cash ledger. GST composition is levied at the following rates:

1. Manufacturers, other than manufacturers of such goods as may be notified by the Government – 1%.
2. Suppliers making supplies – 2.5%
3. Any other supplier eligible for composition levy – 0.5%

Its important to note that any taxpayer who has opted for the GST composition scheme will not be eligible to avail input tax credit on receipt of invoices or debit notes from the supplier for the period prior to opting for the composition scheme.

Process for GST Return Filing by IndiaFilings GST Expert

IndiaFilings is the leading business services platform in India, offering end to end GST services from registration to return filing. IndiaFilings helps tens of thousands of business owners file their GST returns every month, and we can help you file GST returns for your business.

When GST Return Filing is outsourced to IndiaFilings, a dedicated GST Advisor will be assigned to your business. The dedicated Advisor would contact you each month, collect the necessary information, prepare the GST return and help you file the same. Some of the advantages of outsourcing your GST return filing to IndiaFiligns are:

1. Dedicated GST Advisor
2. Reminders each month to file GST return
3. Monthly GST Status reports
4. GST returns prepared using LEDGERS GST Software
5. GSTR-1 and GSTR-3B return filing
6. Input Tax Credit Reconciliation
7. Proper accounting and saving of records for future references

The average time taken to file a GST return is about 1 - 3 working days, subject to government portal availability and client document submission.

LEDGERS GST Software

In addition to the GST Advisor support, LEDGERS GST Software is provided to the client for GST invoicing, payments, GST returns filing and accounting. Some of the features of LEDGERS are:

1. Customer Management
2. Supplier Management
3. GST Invoicing
4. Estimate Issuance & Tracking
5. Accounts Receivable Tracking
6. Purchase Register
7. Payments Tracking
8. Payables Management
9. Automated GST Return Filing (GSTR-1, GSTR-3B)
10. Automatic Input Tax Credit Reconciliation
11. GST eWay Bill Generation & Management
12. ICICI Bank Integration for Banking

Get a free consultation on GST return filing by scheduling an appointment with an Realtax Advisor.