Monthly / Quarterly Returns (GSTR-1 and GST-3B)

Stay compliant with the timely filing of your GSTR-1 and GSTR-3B returns. As essential returns for every GSTIN-registered business, we guarantee zero penalties and a hassle-free experience..

Adyant India Legal Services include:

Filing of monthly/ quarterly (QRMP) GSTR-1 and GSTR-3B returns for a year

GSTR-2A reconciliation

Facilitation of Output tax payment

Valid for businesses with upto 30 monthly sales invoices

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About Service

The Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in India. It is a unified tax system that replaced multiple indirect taxes, streamlining the taxation process. As a registered taxpayer under GST, it is essential to file your GST returns to comply with the law and calculate your tax liability accurately. In this guide, we will cover various aspects of GST return filing, including types of returns, due dates, online filing process, and tracking return status.

List of Documents Required

How Does It Works?

Types of GST Returns and Due Dates:

GST returns are filed in different forms, each serving a specific purpose. The due dates for filing these returns vary based on the nature of the return. Here are some common types of GST returns and their due dates:

GSTR-1: Outward Supplies of Goods and Services

GSTR-1 is a return that captures the details of outward supplies made by a taxpayer. It includes both interstate and intrastate supplies to registered and unregistered persons. Here are some key details to be reported in GSTR-1:

Invoice-wise details of B2B (Business-to-Business) supplies, including taxable value, taxable amount, and tax amount.

Invoice-wise details of B2C (Business-to-Consumer) supplies, consolidated by state and taxable value.

Details of exports and deemed exports.

Details of supplies attracting reverse charge mechanism.

Details of credit notes and debit notes issued.

The due date for filing GSTR-1 is typically the 11th of the following month.

GSTR-3B: Summary Return for Inward and Outward Supplies

GSTR-3B is a monthly self-declared summary return that provides a consolidated view of inward and outward supplies. It is an important return for taxpayers to report their tax liability and claim input tax credit. Here are some key details to be reported in GSTR-3B:

Outward taxable supplies, including inter-state and intra-state supplies.

Inward taxable supplies liable for reverse charge.

Eligible input tax credit.

Tax payable after adjusting input tax credit.

Payment of tax by cash or utilizing input tax credit.

The due date for filing GSTR-3B is usually the 20th of the following month.

Online Filing Process:

The government has established a user-friendly online platform, the GST portal, for the seamless filing of GST returns. Here are the steps to file GST returns online:

Visit the GST portal (www.gst.gov.in).
Log in using your credentials or register as a new user if you are a first-time filer.
Select the appropriate GST return form based on your filing requirements (e.g., GSTR-1, GSTR-3B).
Fill in the necessary details, including outward supplies, input tax credit, and tax liability.
Validate the information entered and ensure accuracy.
Submit the return on the portal.
Pay any tax liability through the integrated payment system.
After successful submission, download the acknowledgment receipt for your records.

Tracking GST Return Status:

You can track the status of your filed GST returns through the GST portal. There are multiple ways to check the status

A.Tracking through ARN:

Log in to the GST portal.
Go to Services > Returns > Track Return Status.
Enter the ARN (Acknowledgement Reference Number) received after filing the return.
Click on the search button to view the status.

B.Tracking through GSTIN/UIN:

Log in to the GST portal.
Select the “Search Taxpayer” option.
Enter your GSTIN/UIN and the captcha code.
Click on the search button to view the status.

Benefits of GST Return Filing :

Elimination of Cascading Effect: GST eliminates the cascading effect of taxes, ensuring that tax is not levied on tax, resulting in cost savings for businesses.

Higher Threshold: Small businesses benefit from a higher turnover threshold, reducing the compliance burden for those with limited resources.
Easier for Startups and E-commerce Businesses: GST simplifies tax management for startups and e-commerce companies by providing a unified tax system across states, reducing complexity and facilitating growth.
Organized System: GST introduces an organized and streamlined tax filing process, promoting transparency, minimizing errors, and enabling efficient compliance.

Conclusion :

All individuals, businesses, and entities registered under GST are required to file GST returns. The filing requirements may vary based on factors such as annual turnover, composition scheme eligibility, and type of supplies made.

FAQ's

Who needs to file GST returns?

Any individual or business entity that carries out taxable supplies of goods or services and exceeds the prescribed turnover threshold (currently ₹20 lakhs for most businesses) needs to register for GST.

What happens if I fail to file my GST returns on time?

Late filing of GST returns may attract penalties and interest. The penalty for late filing is Rs. 50 per day for CGST and SGST (totaling Rs. 100 per day) and Rs. 20 per day for IGST (totaling Rs. 40 per day). Additionally, interest is charged on the outstanding tax liability until the return is filed.

Can I revise my filed GST returns if I discover an error or omission?

Yes, you can revise your filed GST returns using the GST portal. However, revision is only allowed for certain returns (e.g., GSTR-1, GSTR-3B) within the specified time period. It is important to rectify any errors or omissions in your returns to ensure accurate reporting.

What documents are required for GST return filing?

The following documents are generally required for GST return filing:

Invoices issued to registered persons (B2B invoices)
Invoices issued to unregistered persons (B2C invoices) with a value above Rs. 2.5 lakhs
Details of inter-state sales
HSN-wise summary of goods sold
Credit or debit notes issued during the tax period
Advance receipts, if any

Can I claim input tax credit if my supplier has not filed their GST returns?

No, you can claim input tax credit only if your supplier has filed their GST returns and properly reported the supplies made to you. It is important to reconcile your purchases with the supplier’s filings to ensure seamless input tax credit claims.

How long should I keep the records of my filed GST returns?

As per the GST law, you should maintain the records of your filed GST returns for a period of six years from the end of the financial year in which the return was filed. It is advisable to keep these records in a secure and easily accessible manner.

Can I file GST returns myself, or should I seek professional assistance?

While it is possible to file GST returns on your own, the process can be complex, and it requires a good understanding of GST laws and regulations. Seeking professional assistance, such as hiring a GST practitioner or utilizing online filing services, can help ensure accurate and timely filing, reducing the risk of errors or non-compliance.