GST Return Filing Online
The ability to file a GST return has improved in the age of digital technology. Businesses can avoid wasting time and money on manual filing by submitting their GST returns online. Online GST return filing enables a smooth and hassle-free process. The system will prepare your return after you log in to the GST portal and upload your information, including sales and purchase invoices. Online GST return filing has many advantages. It gives real-time information on taxes due and credit options, saves time, reduces errors, and ensures regulations are followed. Do you require assistance in submitting your GST returns online? Allow Makemysales to help you! Through the process, our team of professionals can help you and make sure that your returns are filed appropriately and on time. Don’t expose yourself to fines or legal repercussions for breaking the rules. To begin filing your GST return, get in touch with us right away.
GST Return Filing Online in India - Overview
GST return filing is the procedure through which companies registered under GST submit information to the tax authorities on a monthly, quarterly, or annual basis about their sales and purchases of goods and services, as well as the tax received and paid. GST was implemented in India, and it is a complete income tax system that has made sure that taxpayer services, such as registration, returns, and compliance, are well-aligned and organised. In India, Makemysales provides services for 100% online GST return filing.
Four kinds for GST returns must be filed by individual taxpayers: returns for supply, returns for purchases, monthly returns, and annual returns. Regardless of their business activity, sales, or profitability, all organisations having a valid GST registration are required to file GST returns. Even a dormant company with a current GST registration is required to submit a GST return. A normal taxpayer must submit a GST return to the tax authorities each year detailing all of their income and expenses.
A person must have a valid GSTIN and submit GST returns on a regular basis in order to be eligible for GST Return Filing In India. A person must also register for GST and submit GST reports if their annual revenue exceeds Rs. 20 lakhs. The cap on annual turnover for special states is Rs. 10 lakhs.
GST return filing must be done electronically in India, for example, through the GST portal. Taxpayers may, however, also manually submit GST returns. The taxpayer or a facilitation facility uploads these returns after they have been submitted offline to the GSTIN platform. GST-compliant sales and purchase invoices are anticipated with the new GST return filing system. You can create invoices that are compatible with the GST return and include a list of the items or services that were rendered as well as the total amount that is still owed.
Who Should File GST Returns in India?
Every person or entity registered for the Goods and Services Tax (GST) in India is required to submit GST returns. This includes people, firms, businesses, partnerships, and any other type of entity involved in the provision of products or services.
GST return file is mandatory for the following categories of taxpayers:
Regular taxpayers: Registered companies are required to file GST returns on a regular basis if their yearly revenue exceeds the state-specified level. Depending on their turnover, these taxpayers must submit monthly or quarterly returns.
Taxpayers who choose the composition plan include small enterprises with annual revenue below the minimum level. Taxpayers enrolled in this programme must submit quarterly returns.
Input Service Distributors (ISDs): ISDs are organisations that receive input services and deliver them to other divisions or units within the same company. The specifics of input services received and distributed must be included in monthly returns that are filed.
Non-Resident Taxpayers: For the time they make taxable supplies, non-resident people or businesses operating in India are required to file GST returns. Regardless of their turnover, they must file monthly returns.
E-commerce operators are defined as online platforms that make it easier to supply goods or services. In order to provide information on supply made using their platform, they must submit returns on behalf of vendors who have signed up with them.
Deductors of Tax Deducted at Source (TDS): TDS is required to be withheld from payments made to suppliers by certain defined entities, such as government agencies, local governments, and statutory organisations. TDS deductors must submit monthly returns containing information about the TDS they have collected and deposited.
Different Types of GST Return & Frequency of Filing
GSTR-1: GSTR-1 is used to provide information on all transactions, including the declaration of issued debit and credit notes, that took place during a tax period, as well as outward shipments of goods and services that were made. Except for small taxpayers having a turnover of up to Rs. 1.5 crore in the last fiscal year, all “normal taxpayers” are required to file this form. This GST return is filed on a monthly basis. The frequency (if selected under the QRMP plan) will be quarterly.
GSTR-2 SUSPENSION: GSTR-2 has been suspended. Filing returns is not required.
GSTR-2A: Based on data submitted by registered suppliers in their GSTR-1 returns, GSTR-2A is a read-only return that lists specifics of all inward supplies of goods and services received from them during a tax period. For this return, no action is necessary. GST returns are filed on a monthly basis.
GSTR2B: For taxpayers, the GSTR-2B serves as a statement of their Input Tax Credits (ITCs). It is generated on the fourteenth of the next month and speeds up reconciliation, minimises errors, and makes compliance easier.
GSTR-3 SUSPENDED: GSTR-3 has been suspended. Filing returns is not required.
GSTR-3B: GSTR-3B is a monthly self-declaration that must be filed in order to gather information about all outgoing supplies produced, claimed input tax credits, identified tax accounts, and paid taxes. This form must be submitted by all regular taxpayers who are GST registered. A monthly filing cycle is used.
GSTR-4 (CMP-08): The GSTR-4 is the GST return that taxpayers who have chosen the “Composition Scheme” under the GST are required to file. It is the return, which has taken the place of the former GSTR-4. This GST return is filed on a quarterly basis.
GSTR-5: The GSTR-5 is the GST return that non-resident foreign taxpayers who conduct business in India are required to file. It includes information on all outgoing supplies made, incoming supplies received, credit and debit notes, as well as tax obligations and payments. A monthly filing cycle is used.
GSTR-6:An Input Service Distributor (ISD) is obligated to file GSTR-6, a monthly return. It provides information on input tax credits that the ISD has received and given out. Each month, there will be a filing.
GSTR-7: Under the GST, people who must deduct Tax Deducted at Source (TDS) must file a monthly report known as GSTR-7. Details about the TDS deducted, the TDS liability that must be paid, and any TDS refunds that may have been requested are included. Each month, there will be a filing.
GSTR-8: The monthly return required from e-commerce businesses registered with the GST (TCS) is known as GSTR-8. It includes information about all purchases made through the online store and TCS that were made at the same time. A monthly filing cycle is used.
GSTR-9: The yearly return required for taxpayers registered for the GST is the GSTR-9. The decision to make the filing of GSTR-9 optional for companies with annual sales up to Rs. 2 crores in FY 17-18 and FY 18-19 was made at the 37th GST Council meeting. It includes information on all additional materials created and obtained from outside. It is a collection of every monthly or quarterly return submitted through GSTR-1, GSTR-2A, and GSTR-3B throughout the course of that year. Taxpayers who have chosen the composition scheme, casual taxpayers, input service distributors, non-resident taxpayers, and individuals who are paying TDS in accordance with section 51 of the CGST Act are exempt from filing it.
GSTR-9A: Taxpayers enrolled in the “Composition Scheme” are required to submit GSTR-9A annually for each financial year. However, according to the 27th GST Council meeting, filing for “Composition taxpayers” was suspended for the fiscal years 2017–18 and 2018–19. This return occurs once every three months.
GSTR-9C:Â Â is a reconciliation statement that all taxpayers who have a GST turnover of more than Rs. 2 crore in a fiscal year are required to file. This return happens once a year.
GSTR-10: A GSTR-10 return is the last one a taxpayer must submit after having their GST registration or surrender cancelled. Within a quarter of the date of registration cancellation, this GST return must be filed.
GSTR-11: The GSTR-11 is a return that people must submit with a Unique Identifying Number (UIN) in order to be eligible for a GST refund for goods and services they bought in India. UIN is a number set aside for foreign diplomatic missions to use when requesting a duty refund; these missions are not required to pay taxes in India. Information on internal supply received and refund requests will be included in GSTR-11.
GST Return Filing under the Composition Scheme
Persons registered for the Composition Scheme are required to file GSTR-4 annually and pay taxes using CMP-08 on a quarterly basis. The deadline for filing a GST return is the 18th of the month that follows a quarter, which falls on April 18, July 18, October 18, and January 18. Interstate and intrastate inward supplies broken down by invoice should be included in the return, as well as a summary of all made outgoing supplies. Let’s say a registered individual chooses the composition plan at the beginning of a fiscal year. In that instance, they must submit monthly GST returns up until the sooner of the due date for submitting the annual return for the prior fiscal year or the return for September of the subsequent fiscal year. Even if a taxable person opts for a composition scheme from April, they must file monthly GST returns until September.
GST Return Filing Online: Procedures
On the GST portal, www.gst.gov.in, the government has made the Goods and Service Tax Network (GSTN) available for filing GST returns online. The steps are as follows:
Step 1: Go to the GST website
Step 2: Using your state code and PAN, get a 15-digit GST Identification Number (GSTIN).
Step 3: Add the pertinent invoices to the site and assign each one a unique invoice reference number.
Step 4: Review and confirm the information before submitting the returns after all the invoices, internal and outward returns, and monthly GST returns have been uploaded. User-friendly online platforms are available for GST return filing services from Makemysales. Throughout the procedure, their committed professionals will help you and gather all the required paperwork.
Different Types of GST Return Filing Invoices in India
A stock bill is recognised by a GST report Filing in India receipt, with the exception of the statement that it graciously does not include any assessment costs because the dealer cannot compel the client to file a GST report. When an expense cannot be charged, it is provided: The registered individual is a trader of banned products and services and has chosen the “composition scheme.”
According to Notification No. 45/2017 – Central Tax on October 13, 2017, if a registered person sells taxable and exempt goods or services to an unregistered person, he may create a single “invoice-cum-bill of supply” for all previously mentioned stocks.
Total Invoice
Consider a scenario where the total utility of several invoices is less than Rs. 200 and the buyer needs to be registered. In that instance, the seller can consistently provide a bulk or aggregate receipt for each of the several invoices.
Debit And Credit Note
When the amount that the buyer must pay the seller increases and the tax invoice’s taxable value decreases, the vendor issues a debit note.
When the cost of receipt decreases, the tax invoice has a greater taxable value, the buyer gives the supplier a discount on the goods, and the services are found to be subpar, the vendor will issue a credit note.
Who should precede GST Invoices and the compulsory fields a GST Invoice admits?
Numerous indirect taxes imposed by the Centre and States, including as excise, VAT, and administration fees, are included under the Goods and Services Tax (GST). It is necessary for the two goods and services sold in the nation where- GST return details filing lessens the tax’s escalating impact, is crucial for the start of registration, creates a strategy for independent businesses, protects and directs online strategy, reduces docility, individualises treatment for E-commerce supervisors, expands the efficiency of logistics, and manages the unorganised sector under the GST.
If your firm is registered for GST, you are required to issue GST-compliant invoices to your customers in order to sell them goods and services. You will receive purchasing invoices that comply with GST from your GST-recorded merchants. Your organization’s logo can be added to the bill for customization.
To load the tax and transfer the input tax credit, a tax invoice is frequently assigned. A documentation of the GST filing process Invoice must have the following mandatory fields:
- HSN / SAC code
- Taxable worth and limits
- Signature of the supplier
- Client and taxpayer’s GSTIN
- Rate and volume of taxes, for example, CGST/ SGST/ IGST
- Invoice figures and days
- Rate and volume of taxes, for example, CGST/ SGST/ IGST
- Territory of supply
- Item details, for example, classification, quantity (number), unit (meter, kg etc.), the total amount
- Regardless of whether GST is payable on the converse charge premise
- Customer title
New GST Return Filing in India
The 31st GST Council Meeting stated that taxpayers would be given the GST returns. For the convenience of taxpayers enrolled in the GST, this return framework will include simple returns. Each month, a major return (GST RET-1) and two annexures (GST ANX-1 and GST ANX-2) must be submitted, with the exception of small taxpayers (with a prior money-related year turnover of up to Rs 5 crore, who may choose to make a similar quarterly return).
Structures under the New GST Return Filing System
The fundamental GST Return Filing, GST RET-1, will include information about all supplies made, input tax extensions that were used, changes in taxes, and interest, if applicable. Two Annexure forms, specifically “GST ANX-1 and GST ANX-2,” shall be included in the return mentioned above. The “GST ANX-1” (Annexure of Outward Supplies) is used to announce the specifics of each and every outward gracefully, internal supplies that are required to reverse the charge, and imports of goods and services that need to be thoughtfully and consistently accounted for upon receipt (apart from B2C supplies). Details on each interior supply will be distributed in “GST ANX-2” (Annexure of Inward Supplies). The most notable of these highlights will be generated automatically from the information provided by the providers in their “GST ANX-1.”
Difference Between Previous and New GST Return Filing Systems
| Previous Return Filing System | New GST Return Filing System |
|---|---|
| Small taxpayers: In the previous fiscal year, annual revenue might reach Rs 1.5 crore. | Small taxpayers: In the previous fiscal year, annual revenue may not exceed Rs 5 crore. |
| It is necessary to file several return forms, including GSTR-1, GSTR-5, GSTR-4, GSTR-6, GSTR-7, and so forth. | All types of taxpayers must submit the single GST Return Filing Form GST RET-1 ceding 2 Annexes GST ANX-1 and GST ANX-2. |
| Only when filing returns of outgoing supplies can invoices of revenues be submitted. | a method for regularly uploading revenue invoices on a time-basis |
| If there were any missing revisions or invoices, they could only be made in the tax return for the subsequent tax period. | By submitting an Amendment Return, you can make up for any missing modifications and invoices. |
| On the basis of a self-declaration, the input tax credit | Based on invoices provided by the supplier, the input tax credit |
Significant Changes Included in the New GST Return Filing System
There Are Specific Changes Introduced In The ‘New Return System’-
A distinct HSN outline requires the Harmonised System of Nomenclature code to provide subtleties during documentation. Furthermore, a user will receive “HSN” via GST ANX-2, where a supplier must disclose the HSN code.
A taxpayer will have the ability to work across many sites using the offline demo tool. The model mentioned above will also enable a client to perform various operations, such as drop-down lists, receipt transfer, acquisition transfer, and so forth.
The B2B supply mechanism should not be displayed by the provider in the “GST ANX-1,” but the entire amount must be displayed in the “GST RET-1.”
The beneficiary of provisions for Inward Supplies at Risk to RCM must be declared in GST ANX-1 at the GSTIN level.
B2C-L’s hypothesis was adopted. For small taxpayers, the maximum amount will be Rs 5 crores.
At a receipt level, any recipient may report avoiding solicitations.
Type of Invoices under the New GST Return Filing System in India
For the existing return system regarding the transfer of bills, there are certain terms to keep in mind:
Missing Invoices: This situation arises when a provider requests ITC despite not transferring solicitations.
Locking of Invoices: If a recipient agrees with the nuances disclosed in an invoice, he will have the opportunity to confirm in a receipt. Let’s say there are numerous solicitations. It might not be possible to obtain specific invoices in such situation, so in such cases, think about ensuring that invoices will be completed on transferred invoices that are not denied.
Unlocking of the Invoices: An invoice that a beneficiary has recently used ITC to benefit from will be treated as a bolted invoice and not be eligible for upgrades. If any changes were made to an invoice, the supplier would have to start a charge/credit note. The beneficiary can open any incorrectly locked invoice online, subject to an inversion of the ITC guarantee made following the online affirmation.
Pending Bills:
Conditions are there for the Situations:
The recipient is not adaptable
The beneficiary believes that the invoice may use some refinement.
Rejected Invoices: Let’s say the provider entered the GSTIN incorrectly. In that instance, a citizen who is not the recipient of the supplies will be able to see the invoice and will not be eligible to be taken on these invoices.
It is referred to as missing bills if any supplier claims ITC due to not transferring solicitations.
A recipient will have the opportunity to confirm in a receipt whether he agrees with the nuances revealed in that invoice. Let’s say there are a tonne of solicitations. It might not be possible to obtain specific invoices in that situation, so in such circumstances, think about ensuring that invoices will be completed on any transferred invoices that are not disallowed.
A beneficiary’s recent ITC profit on an invoice will be regarded as a bolted invoice and will not be eligible for upgrades. If any changes were made to an invoice, the supplier would have to start a charge/credit note. The beneficiary can open any incorrectly locked invoice online, subject to an inversion of the ITC guarantee made following the online affirmation.
Conditions apply to the Circumstances:
The recipient is not adaptable
The beneficiary believes that the invoice may use some refinement.
Suppose the provider entered the GSTIN incorrectly. In that instance, a citizen who is not the recipient of the supplies will be able to see the invoice and will not be eligible to be taken on these invoices.
ITC- Input Tax Credit According to the New GST Return Filing System
The provider’s transfer of receipts within the allotted time will be taken into account for settling ITC. Every month on the 10th, the provider will electronically transfer an invoice that will be visible to the recipient forever. The taxes are due after that, and it is promised that a “ITC” will be put on the beneficiary’s return’s ITC simple structure before the eleventh of the next particularly one month. The viewing tools will remain the same in any case.
A taxpayer will be eligible to record two amendment returns under the “New GST Return Filing System” for each duty period. Additionally, a taxpayer will be able to receive an installment through an amendment return, which will naturally assist in reducing interest liability. The utility for paying the at-risk commitments in the bill return can be considered in a situation when ITC is likely to be possible in the taxpayer’s electronic credit ledger (ECL).
Correction of an invoice won’t be granted in cases where the beneficiary has acknowledged and verified the invoice. To correct, either a provider will issue a charge/credit note, or a provider can ask the beneficiary to help them open the receipt so that they have the option to record a revised return.
Penalty for Not Filing GST Returns
Delayed GST filing information may have a significant impact, leading to hefty fines and sanctions. At that moment, the taxpayers would be responsible for paying interest and the late fee if GST return filings had not been recorded in the allotted period. Additionally, 18% annual enthusiasm would be feasible. In any situation, the taxpayer is able to gauge the level of anticipation surrounding the size of the special assessment that must be paid. The Late Fee consists of Rs. 100 each day as per the Act; additionally, it is Rs. 100 under CGST and Rs. 100 under SGS, totaling Rs. 200 per day. It will cost Rs. 5000 for the larger sum (unrelated to the Integrated Goods and Services Act).
Tuition for Using New Return Filing System Prototype
Offline Tool Of New Return:
Supplies Annexure (GST ANX-1)
The GST ANX-2 Annexure of Inward Supplies
The Matching Tool: automatically generated GST ANX-2 purchase register details.
Screens originating from the login website were made available for a sample taxpayer setting up his monthly return to fill out the information in Form “GST ANX-1” and Action in Form “GST ANX-2.” Each quarterly return that the taxpayer submits will be similar.
The ‘Manage Profile’ section has to be filled out. The operator cannot store or modify this information in this Prototype, though.
The user can choose a specific GSTIN and tax period from the menu on the LOGIN Page to proceed. The user has the option to click the “Proceed” button right away, which will take him to the screen where he may fill out the details for Forms “GST ANX-1” and “GST ANX-2.”
Supplies Annexure (GST ANX-1)
The GST ANX-2 Annexure of Inward Supplies
The Matching Tool: automatically generated GST ANX-2 purchase register details.
Form GST ANX-1:
To fill out the information, click “Prepare Offline” under “Under GST ANX-1.” Functionalities will be displayed IN TABS IMPORT EXCEL/CSV FILE’, ‘OPEN DOWNLOADED JSON FILE’, ‘REMOVE DATA IN ALL TABLES’, ‘GENERATE JSON FILE TO UPLOAD’, and ‘EXPORT TO EXCEL’ cannot be used in prototype.
Users can also select each table individually from the dropdown to display the prefilled information. A summary may be viewed from the perspective of a taxpayer or a document.
A table-by-table summary of ANX-1 on sample data is provided in the ‘VIEW SUMMARY’ tab. The tables on the screen include entries that are solely intended for viewing; no changes may be made to the filters in the Prototype, and the summary won’t be updated because fresh data isn’t being recorded.
The user must produce a JSON file to post on the site, which will be available after deployment, after filling out information in the relevant tables.
Form GST ANX-2
To act on the details, click “TAKE ACTION” next to “GST ANX-2.” This screen displays information about the Offline Tool’s functionalities. ‘OPEN DOWNLOADED JSON FILE’, ‘REMOVE DATA IN ALL TABLES’, ‘EXPORT TO EXCEL’, and ‘GENERATE JSON FILE TO UPLOAD’ tabs are not accessible in Prototype. With the prefilled data given, the Prototype shows how the “MATCHING TOOLS” work.
By delivering the “JSON” file you downloaded from the GST Portal in the Offline Tool, you can view it.
In the prototype, ‘MATCHING TOOLS’ are served with prefilled data. By choosing a tolerance limit in rupees and entering the document number, you can refine the parameters for matching even further by pressing the “REFINE MATCHING RESULT” button. Taxpayers have three options after pairing: Accept, Reject, and Pending.
Users can choose to accept, reject, or wait on the papers that their suppliers have supplied using the ‘Take Action’ support buttons.
Following the completion of the Table 4 Action, an ITC summary will be ready. Select the non-editable “View Table 4 of ANX-2” link. The data in this table will be automatically filled in by Offline Tool.
By choosing Table 5, you may view the credit you earned from ISD. It is only for viewing.