GST Return Filing Services
A Guide by Deepender Aggarwal & Associates
Goods and Services Tax (GST) has revolutionized the taxation system in India, simplifying and unifying indirect taxes. As businesses navigate this new terrain, understanding the nuances of GST return filing becomes crucial. Chartered Accountant Deepender Aggarwal provides a comprehensive overview to help you grasp the essentials of GST return filing.
What is GST Return Filing?
GST return filing is a process where businesses registered under GST need to submit details of their sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). This is a periodic activity and is mandatory for all GST-registered businesses.
Types of GST Returns
Various GST returns cater to different business needs. Here are the primary ones:
- GSTR-1: Monthly or quarterly return for outward supplies.
- GSTR-2A: Auto-drafted return for inward supplies.
- GSTR-3B: Monthly summary return.
- GSTR-4: Quarterly return for composition scheme taxpayers.
- GSTR-9: Annual return.
Key Deadlines
Filing GST returns on time is critical to avoid penalties. Here are some important deadlines:
- GSTR-1: 11th of the next month for monthly filers; 13th of the month following the quarter for quarterly filers.
- GSTR-3B: 20th of the next month.
- GSTR-4: 18th of the month following the quarter.
- GSTR-9: 31st December of the next financial year.
Steps for Filing GST Returns
- Collect Information: Gather details of sales, purchases, output tax, and input tax.
- Log in to GST Portal: Access the GST portal (www.gst.gov.in) with your credentials.
- Prepare the Return: Fill in the necessary details in the relevant GST return form.
- Verify Details: Ensure all information is accurate to avoid discrepancies.
- Submit and Pay: Submit the return and pay any tax due.