GST Return Filing TallyPrime

GST Return Filing

GST Return Filing TallyPrime

Introduction

GST Return Filing Tally Prime One of the key aspects of the GST era is that most of the indirect taxes – for which returns had to be filed separately for various businesses – have been subsumed. Today, irrespective of whether one is a trader, manufacturer, reseller, or service provider, one needs to file GST returns online, in the prescribed formats.

Under GST, there are 19 GST return forms, which taxpayers can use to file GST returns online. All these forms are required to be e-filed as per the GST return filing process laid down in the GST return rules section of the GST Act. The details of each of these GST return formats, along with details of applicability and periodicity, are as follows

GST Returns Forms – At a Glance

Category GST Return Types Frequency Due Date Details to be Furnished
Regular Dealer Form GSTR-1 Monthly 10th of the succeeding month Furnish details of outward supplies of taxable goods and/or services affected
Form GSTR-2A Monthly On the 11th of the succeeding Month Auto-populated details of inward supplies made available to the recipient on the basis of Form GSTR-1 furnished by the supplier
Form GSTR-2 Monthly 15th of the succeeding month Details of inward supplies of taxable goods and/or services for claiming the input tax credit. Addition (Claims) or modifications in Form GSTR-2A should be submitted in Form GSTR-2.
Form GSTR-1A Monthly 17th of the succeeding month Details of outward supplies as added, corrected, or deleted by the recipient in Form GSTR-2 will be made available to the supplier
FormGSTR-3 Monthly 20th of the succeeding month Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of the amount tax
Form GST MIS-1 Monthly Communication of acceptance, discrepancy, or duplication of input tax credit claim
Form GSTR-3A 15 Days from Default Notice to a registered taxable person who fails to furnish returns
Form GSTR-9 Annually 31st Dec of next fiscal Annual Return – furnish the details of ITC availed and GST paid which includes local, interstate, and import/exports
Composite Tax Payer Form GSTR-4A Quarterly Details of inward supplies made available to the recipient registered under the composition scheme on the basis of Form GSTR-1 furnished by the supplier
Form GSTR- Quarterly 18th of the succeeding month Furnish all outward supply of goods and services. This includes auto-populated details from Form GSTR-4A, tax payable, and payment of tax.
Form GSTR-9A Annual 31st Dec of next fiscal Furnish the consolidated details of quarterly returns filed along with tax payment details.
Foreign Non-Resident Taxpayer Form GSTR-5 Monthly 20th of the succeeding month or within 7 days after the expiry of the registration Furnish details of imports, outward supplies, ITC availed, tax paid, and closing stock
Persons providing online information and database access or retrieval services Form GSTR-5 Monthly 20th of the succeeding month Details of outward supplies of online information and database access or retrieval services by a person located outside India made to non-taxable persons in India
Input Service Distributor Form GSTR-6A Monthly 0n 11th of the succeeding month Details of inward supplies made available to the ISD recipient on the basis of Form GSTR-1 furnished by the supplier
Form GSTR-6 Monthly 13th of the succeeding month Furnish the details of the input credit distributed
Tax Deductor Form GSTR-7 Monthly 10th of the succeeding month Furnish the details of the TDS deducted
Form GSTR-7A Monthly TDS certificate to be made available for download TDS Certificate – capture details of the value on which TDS is deducted and deposit on TDS deducted into the appropriate Govt.
E-commerce FormGSTR-8 Monthly 10th of the succeeding month Details of supplies affected through e-commerce operator and the amount of tax collected on supplies
Form GSTR-9B Annually 31st Dec of next fiscal An annual statement containing the details of outward supplies of goods or services or both effected through an e-commerce operator, including the supplies of goods or services or both returned and the amount collected under
Aggregate Turnover Exceeds INR 2 Crores Form GSTR-9C Annually Annual, 31st Dec of next fiscal Reconciliation Statement – audited annual accounts and a reconciliation statement, duly certified.
Final Return
(for taxable persons whose registration has been surrendered or canceled)
FormGSTR-10 Monthly Within 3 months from the date of cancellation of registration or date of cancellation Order, whichever is later Furnish details of inputs and capital goods held, tax paid, and payable.
A specialised agency of the United Nations Organisation or any multilateral Financial Institution and notified United Nations Bodies, Consulate or Embassy of foreign countries Form GSTR-11 Monthly 28th of the succeeding month Details of inward supplies to be furnished by a person having UIN

How to file GST returns online?

You can file the GST return online as follows.

Step 1: Register for GSTIN

For those taxpayers who are not registered, you need to register to get the GSTIN number. It is a 15-digit number that is generated based on your state code of operation and PAN.

Step 2: Log in to the GST portal

You must log in to the GST portal (https://www.gst.gov.in/) using your username and password and then click on the tab called ‘Services’.

Step 3: Return the dashboard

You will see an option called the ‘Returns dashboard’. Click on that. You will be asked to choose a financial year for which you are filing the GST return. Choose the appropriate one from the drop-down menu provided.

Step 4: Prepare online

You must then select the return you wish to file. You will be given options of how you wish to file. For the online GST return process, click on the ‘Prepare Online’ option.

Step 5: Enter details

You will need to enter all the details correctly in the fields provided. Note that if you have any pending late fees, you must fill in the details of that as well when you are filing your GST returns. Next, you need to save the form and then submit it.

Step 6: Check the submission status

When the GST return form has been submitted, you need to ensure the status of the GST return has been changed to ‘Submitted’.

Step 7: Tax payment

When the status shows the return has been submitted, then you need to click on ‘Payment of Tax.’ You will see a ‘Check Balance’ option which you need to click. The balance shown will reveal the credit and cash balance.

Step 8: Offset liability

You must click on the option that says ‘Offset Liability’ to make the GST payment online in a few minutes. You need to then check the relevant boxes for declaration purposes. Then click on ‘File Form with DSC’/’File Form with EVC’ and then make the payment.

There are numerous GST return forms available and filling each can have additional steps or even lesser steps than the general steps outlined above. The details of how to fill in the details can be found on the official GST website. Before you fill out any GST form, you should keep all the information and details close by. Using a software solution such as TallyPrime is advised to ensure no errors are made during the filing of the return process. 

Who Should File GST Return

According to the GST Act, a taxable person has established a business in India, in any state, and is eligible to be registered under the act. This person must be a part of a trade or commerce or any economic activity. This includes local authority, LLP, HUF, individuals, cooperative society, trust, and an AOP/BOI. All such entities must then file GST returns as specified by the GST scheme.

The GST regime has stated that all businesses need to file GST returns but the frequency of the returns and when to file depends on the total annual turnover and the type of business. Businesses that have an aggregate turnover of up to Rs. 5 crores can choose to file their GST returns under the QRMP scheme. They will need to file 9 GST returns per year; 4 GSTR-1 returns, 4 GSTR-3B returns, and one annual return must be submitted.

The businesses that have an aggregate annual turnover of over Rs. 5 crores and those who have not chosen the QRMP scheme are required to file GST returns twice per month. Moreover, they must file one annual return. That makes up a total of 25 GST returns per year. Note that in many cases such as composition dealers, there are other returns required to be filed and submitted according to the GST regime.

Upcoming dates to file GST return

 

Return form Due date Filing frequency
GSTR-1 11th day of the next month Monthly
13th day of the month after the quarter Quarterly for those under the QRMP scheme
IFF (optional according to the QRMP scheme) 13th day of the next month Monthly (for the initial two months of the quarter)
GSTR-3B 20th day of the next month Monthly
For those with annual aggregate turnover less than or equal to Rs. 5 crore who also have opted for the QRMP scheme the 22nd day of the month after the quarter for category X states and UTs, and the 24th day of the month after the quarter for the category Y states and UTs Quarterly for those under the QRMP scheme
CMP-08 18th day of the month after the quarter Quarterly
GSTR-4 30th day of the month after the financial year Annually
GSTR-5 20th day of the next month Monthly
GSTR-5A 20th day of the next month Monthly
GSTR-6 13th day of the next month Monthly
GSTR-7 10th day of the next month Monthly
GSTR-8 10th day of the next month Monthly
GSTR-9 31st December of the succeeding financial year Annually
GSTR-9C 31st December of the succeeding financial year Annually
GSTR-10 Within three months of the cancellation Once only when cancellation or surrendering occurs
GSTR-11 28th day of the month that comes after the month during which the statement was filed Monthly
ITC-04 25th April Annually (for AATO less than and equal to Rs. 5 crores)
25th October and 25th April Half-yearly (for AATO more than Rs. 5 crore)

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