How to File GST Return Online: A Comprehensive Guide
The Goods and Services Tax (GST) is a crucial part of running a business in India. In July 2017, GST was implemented in India. It replaced all other indirect taxes applied on several goods and services such as State VAT, Central excise duty, central sale tax, and many more. GST return filing online ensures you follow all tax regulations and avoid penalties. There are a total of 19 GST return forms that taxpayers can use to file GST returns online. Even If you are a trader, manufacturer, or any other service provider you have to file a GST return online. However, it makes the tax filing process easy as taxpayers only have to file just one tax.
If you are wondering how to file a GST return online or how many returns in GST you have to file then you don’t have to look further. In this blog, we will guide you through the process of how to file a GST return online.
GST Return and GST Return Filing
A GST return is a legal document that includes payments, receipts, and GST invoices. All the details such as income, expenses, purchases, and sales related to the GST taxpayer are collected here. GST returns mainly include purchases, sales, output GST, and input tax credit which is a GST paid on purchases.
Any business registered for the Goods and Service Tax can file GST returns monthly or annually. However, it is important to provide all the details related to sales and purchases of goods and services along with the tax collected, while filing GST returns online.
While GST return filing online, you have to file 4 forms that are returned for the supplies, returns for the purchase made, and monthly/ annual returns. The Indian government has made the GST return compulsory for each individual who carries a valid GST registration.
Before you fill GST return file online keep these things ready
- Gather your documents: Keep your invoices of sales and purchases ready for recording transactions.
- Have your GST login details ready: You will need your GST Identification Number (GSTIN) and password for the GST portal.
- Consider using GST filing software: It is not mandatory but this software will simplify your data entry and will automate calculations.
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How to file a GST return online?
Here are some simple steps that will guide you through the process of how to file a GST return online:
Step 1: Register for GSTIN (Goods and services tax identification number)
First, register if you haven’t yet to get a GST identification number. It will be your 15-digit number that is generated depending on your state code and PAN.
Step 2: Log in to the GST Portal
Visit https://services.gst.gov.in/services/login and enter your GSTIN and password. Click “Login.”
Step 3: Returns Dashboard
After logging in there will be an option as “Returns dashboard”. Click on that, select the financial year you are filing the GST return. There will be a drop-down list from which you can choose one.
Step 4: Prepare Online
After proceeding you will be provided with the option for selecting the return you want to file. To file a GST return online, click on the “Prepare Online” option.
Step 5: Enter Details
Enter all the required details correctly. However, if you have any pending fees left, you must fill in the details of that too.
Step 6: Submit and review
Once you’ve filled all sections, carefully review the entered information. Double-check for any errors, if there are none then click the “Submit” button.
Step 7: Check Submission Status
After submitting the form, ensure whether the status of GST return has been changed to submitted or not.
Step 7: Tax Payment
Once it shows the status as submitted, click on the “Payment of Tax” option. Here you can see the “Check Balance” option. Click on that, it will show your credit and cash balance.
Step 8: Offset Liability
Click on the “Offset Liability” option to make an online GST payment. Afterward, click on the “File Form with DSC” option and make the payment.
Note: There are several GST return forms available and each has different steps but before you fill any GST returns form make sure to keep all the information.
Key Takeaways
- Due dates for filing GST returns vary depending on your business type.
- The government may charge late filing fees for missed deadlines.
- You can download a copy of your submitted return for future reference.
- The GST portal offers helpful resources like FAQs and tutorials to guide you through the filing process.
By following these steps and keeping these tips in mind, you can easily file a GST return online in India. Remember, timely and accurate filing is important for a smooth business operation.
Who Should File GST Return
Any person who is involved in trading, e-commerce, or any other economic activity is eligible for GST return according to the GST Act. It includes LLP, local authority, HUF, cooperative society, trust, and many more. All these people must file a GST return as specified in the GST scheme.
The government has declared that all businesses must file GST returns but the frequency of filing the returns will depend on the total turnover rate and the business type. Businesses that have an annual turnover of up to 5 crores can file their GST returns under the QRMP scheme. They will have to file 4 GSTR-1 returns, 9 GST returns, 4 GSTR-3B returns, and must submit one annual return. Moreover, businesses that cross 5 crores and are not selected for the QRMP scheme have to file GST returns twice per month and must file one annual return.
