Step 1

Select a package that will meet your business's needs.

Step 2

Send the sale and purchase invoices to our experts.

Step 3

A dedicated Expert will be allocated to you and your queries will be resolved.

Step 4 

Your GST return will be filed within 24 hours.

Overview

When your firm is GST-registered, you are required to submit GST returns on a monthly or quarterly basis, as appropriate. Returns that are submitted on time assist the authorities to carry out the taxpayer's evaluation. The GST return, which must be completed by all registered taxpayers, regardless of how big or little their business is, comprises all the information on sales, purchases, tax collected on sales, and tax paid on purchases.

Each GST return has been carefully created to guarantee that all information and transactions between buyers and sellers during the relevant period are fully disclosed to authorities. Your tax due will be determined when you file the return, and you must pay the sum that you owe the government.

Impact of non filing or late filing

Each and every firm must be GST compliant. If your GST return is not submitted by the deadline, you will be charged a late fee and interest. According to the GST Law, the maximum late cost for CGST and SGST is Rs. 500–1000 and is set at Rs. 20–50 per day. But, the government may make modifications to this at any time. A tax offender who fails to pay their taxes on time or makes insufficient payments may additionally be required to pay a penalty equal to 10% of the unpaid taxes, with a minimum penalty of Rs. 10,000.

Moreover, the creation of E-Way Bills for all forms of outward supplies made by that person or company will be prohibited if they haven't filed returns for two tax periods in a row. E-Way Bills may only be issued following a successful GST filing. The government may also choose to revoke a GST registration in some circumstances. Thus, it is essential for every registered entity to follow the law's requirements and submit all required files within the allotted time frame.

Documents required for GST Returns

GST return filing is required for all GST-registered individuals in India. GST taxpayers would be required to file GSTR 1, GSTR 2, and GSTR 3 returns on the 10th, 15th, and 20th of each month. This article looks at the paperwork needed to file a GST return in India.

Documents Required for Filing GSTR1 Return

GST returns are filed through the GST portal, and no papers are required to be attached to the Tax return. The taxpayer would, nevertheless, be required to submit information on B2B invoices issued, B2C invoices issued, credit notes issued, debit notes issued, and HSN summary of items sold.

The following information is necessary to prepare and file a GSTR1 return:

  1. List of all invoices issued to individuals having GSTIN – B2B Invoices. These invoices must be uploaded to the GSTN. Invoice upload to GSTN need not contain the document. Only the following information about a B2B invoice must be uploaded in the format accepted by GSTN:
    1. Customer's GSTIN
    2. Type of Invoice
    3. Place of Supply
    4. Invoice Number
    5. Invoice Date
    6. Taxable Value
    7. GST Rate
    8. Amount of IGST applicable
    9. Amount of CGST applicable
    10. Amount of SGST applicable
    11. Amount of GST cess applicable
    12. If GST Reverse Charge is applicable
  2. List of all invoices issued to persons not having GSTIN (B2C invoices), wherein the invoice value is more than Rs.2.5 lakhs. Details of all B2C invoices with a value of more than Rs.2.5 lakhs must be uploaded to the GSTN. The following information pertaining to B2C large invoice must be uploaded to the GSTIN.
    1. Invoice number
    2. Invoice date
    3. The total value of the invoice
    4. Taxable value
    5. GST rate applicable
    6. Amount of IGST applicable
    7. Amount of CGST applicable
    8. Amount of SGST applicable
    9. Amount of GST cess applicable
    10. Place of Supply
  3. Consolidated intra-state sales, categories by GST rates
  4. Consolidated intra-state sales made through an e-commerce operator, categories by GST rates
  5. Consolidated inter-state sales, categories by state and GST rates
  6. Consolidated intra-state sales made through an e-commerce operator, categories by state and GST rates
  7. Details of all export bills must be uploaded to the GSTN. The following details must be provided in the GSTR1 return for all export bills issued:
    1. Customers GSTIN
    2. Type of Invoice
    3. Invoice Number
    4. Invoice Date
    5. Shipping Bill Number
    6. Shipping Bill Date
    7. Port Code
    8. Taxable Value
    9. GST Rate
    10. Amount of IGST applicable
    11. Amount of CGST applicable
    12. Amount of SGST applicable
    13. Amount of GST cess applicable
  8. HSN-wise summary of all goods sold during the month
    1. HSN Code
    2. Description
    3. UQC
    4. Total Quantity
    5. Total value
    6. Total taxable value
    7. Amount of IGST applicable
    8. Amount of CGST applicable
    9. Amount of SGST applicable
    10. Amount of GST cess applicable
  9. Summary of documents issued during the tax period
  10. Summary of debit note, credit note, advance receipt, and amendments

The procedure for uploading invoices to GSTN is easy and simple through LEDGERS GST Software. From LEDGERS GST software, the information to be filed in a GST return can be validated and filed on the GSTN portal directly.

Documents Required for Filing GSTR2 Return

GSTR2 returns can also be filed on the GST portal. The system auto-populates the majority of the data when completing a GSTR2 return based on the GSTR1 returns filed on the GSTN. As a result, in order to complete GST return filing, the taxpayer must validate the data given and input details of any purchases that are not represented in the system. The following information must be supplied with the GSTR2 return:

  1. In the case of a purchase from a GST-registered person, the following information about the invoice provided by the seller must be published or validated on the GST site.
    1. Invoice number
    2. Invoice date
    3. Invoice value
    4. Place of Supply
    5. Applicability of reverse charge
    6. Invoice type
    7. Taxable value
    8. GST rate
    9. Amount of IGST applicable
    10. Amount of CGST applicable
    11. Amount of SGST applicable
    12. Amount of GST cess applicable
    13. Eligibility for Input Tax Credit
    14. Amount of IGST Input Tax Credit Claimed
    15. Amount of SGST Input Tax Credit Claimed
    16. Amount of CGST Input Tax Credit Claimed
    17. Amount of GST Cess Input Tax Credit Claimed
  2. For import purchases from a foreign country or SEZ unit, the taxpayer must provide the following information:
    1. Is supply for an SEZ
    2. Suppliers GSTIN
    3. Bill of Entry number
    4. Bill of Entry date
    5. Bill of Entry value
    6. Port Code
    7. Taxable value
    8. GST rate
    9. Amount of IGST applicable
    10. Amount of CGST applicable
    11. Amount of SGST applicable
    12. Amount of GST cess applicable
    13. Eligibility for Input Tax Credit
    14. Amount of IGST Input Tax Credit Claimed
    15. Amount of SGST Input Tax Credit Claimed
    16. Amount of CGST Input Tax Credit Claimed
    17. Amount of GST Cess Input Tax Credit Claimed
  3. HSN summary
  4. Details of credit received from Input Service Distributor
  5. Supplies received from composition taxable person and other exempt/Nil rated/Non-GST supplies received
  6. TDS and TCS credits received
  7. Consolidated Statement of Advances paid/Advance adjusted on account of receipt of supply
  8. Input Tax Credit Reversal / Reclaim
  9. Addition and reduction of the amount of output tax for mismatch and other reasons

FAQs about GST Returns

Can the taxpayer change the period (whether monthly or quarterly) of filing his return?

The taxpayer will have the option to change the period (from quarterly to monthly and vice versa) of filing his returns only once – at the time of filing his first return for that financial year.

What actions are available to the recipient of supply with regards to the documents uploaded by the supplier?

The supplier can upload documents up to the 10th of the subsequent month (in case of monthly filing) or the 10th of the month following the quarter (in case of quarterly filing). Thus, up to the 10th of the subsequent month, the recipient can either accept or reset (unlock) a document. After this date, the recipient may either accept, reject, or keep the document pending.

When will the supplier be intimated that the recipient has rejected the document uploaded by him?

The rejected documents shall be intimated to the supplier only after the recipient has filed his return.

What is the purpose of Form ANX-1A?

Form ANX-1A is used for making amendments relating to details uploaded in Form ANX-1 for earlier tax periods.

Under what circumstances can Form RET-1 be filed through SMS?

The Form RET-1 can be filed through SMS only in case of a Nil return – no supplies have been made or received.