File Your GST Return

GST - Return Fees

Number of Invoice	Fees
NIL/ Upto 10 Invoices	₹ 500
10-25 Invoices	₹ 750
25-50 Invoices	₹ 1,000
Above 50 Invoices	Contact us

Who should file GST Returns?

Every entity registered under GST will have to file a GST Return. A NIL return has to be filed even if no purchase-sales activities have been carried out during the return period.

Tenure of Filing GST Return

Depending on the type of registration and transactions, different periods have been specified. Monthly return has to be filed by regular taxpayers, foreign non-residents, input service distributor, tax deductors and e-commerce operators whereas composition taxpayers will have to file a quarterly return.

What is GSTR-1 Return?

What is GSTR-2 Return?

GSTR-2 return will include details of the inward supplies or purchases of goods and services by the taxpayer. GSTR-2 is prefilled for a buyer based on the GSTR-1 filed by his supplier. You just have to validate this prefilled information and make modifications if required. For example, if you are buying goods from company B, then the company B would have filed its GSTR-1 and included your name as the buyer. Now the same information will be reflected in your GSTR-2 as purchases which you need to validate. GSTR-2 will thus include the details of auto-populated purchases.

What is GSTR-3B Return?

One can say that GSTR-3 is a combined version of GSTR-1 and GSTR-2. As in the case of GSTR-2, GSTR-3 is also prefilled for a taxpayer based on the GSTR-1 and GSTR-2. You just have to validate this prefilled information and make modifications if required. GSTR-3 return will include the following details:.

• Information about input tax credit ledger, cash ledger and liability ledger
• Details of payment of tax under various tax heads of CGST, SGST and IGST
• Taxpayer will have the option of claiming a refund of excess payment or to carry forward the credit

What is GST Quarterly Return? (GSTR-4)

A taxpayer with a turnover of up to Rs. 75 Lakhs has the option to opt for the composition scheme. In such a case, he would be required to pay taxes at a fixed rate depending on the type of his business (2% for manufacturers, 5% for restaurant service sector and 1% for other suppliers). Although no input tax credit facility would be available. A taxpayer opting for the composition scheme would be required to file a simplified quarterly return that is GSTR-4. He is required to provide only the following details:

• The total value of consolidated supply made during the period of return
• Details of payment of tax in the return
• Declare invoice-level purchase information.

What is GST Annual Return? (GSTR-9)

All the normal taxpayers would be required to submit annual return under GST. This is intended to provide complete visibility about the activities of the taxpayer.

• It will be a detailed return and will capture details of all the income and expenditure of the taxpayer and will regroup them in accordance with the monthly returns.
• A major advantage of this return will be that it will provide the opportunity to correct any short reporting of activities undertaken.
• The due date for the return is 31st December following the end of the financial year for which it is filed. And the same has to be filed along with the audited copies of the Annual Accounts.