Online GST monthly return filing in India, Date [2020] - Onfiling
GST Services

GST Monthly Filing

Overview

In the new system of GST return filing, a taxpayer needs to file form GST RET-1 (Normal) or Form GST RET-2 (Sahaj) or Form GST RET-3 (Sugam) on either monthly or quarterly basis. A taxpayer with a turnover of up to Rs 5 crores can file GST returns on a quarterly basis.
  • GST monthly filing is done by all the registered taxpayers under GST laws.
  • There are certain exceptions to this which are as follows:
  • A. Small taxpayers

    B. Composition dealer

    C. input service distributor

    D. Non- resident registered person

    E. A person who is liable to deduct or collect tax under the CGST Act

  • Due date and purpose for filing of Returns are as follows: 
Type Of Return       Details                                      Frequency                      Due Date

GSTR-1
Details of outward supplies
Monthly
11th of the next month
GSTR-3B





summary of outward supplies and Input Tax Credit are required to be submitted. This arrangement is  for the purpose of arriving liability  and payment of tax thereof.  
Monthly





20th of the next month





CMP-08


Return for a taxpayer registered under the composition levy
Quarterly


18th of the month succeeding quarter


GSTR-5
Return for a Non-Resident foreign
taxable person


Monthly
20th of the next month
GSTR-6
Return for an Input Service Distributor
Monthly
13th of the next month
GSTR-7Return for authorities deducting tax at source.Monthly10th of the next month
GSTR-8Details of supplies effected through e-commerce operator and the amount of tax collectedMonthly10th of the next month
GSTR-9Annual Return for a Normal TaxpayerAnnually31st December of next financial year
GSTR-9AAnnual Return a taxpayer registered under the composition levy anytime during the yearAnnually31st December of next financial year
GSTR-10Final ReturnOnce, when GST Registration is cancelled or surrenderedWithin three months of the date of cancellation or date of cancellation order, whichever is later.
GSTR-11Details of inward supplies to be furnished by a person having UIN and claiming a refundMonthly28th of the month following the month for which statement is filed

Advantages

Removes Cascading effect

Cascading effect refers to tax on tax, it occurs when a god is taxed on every stage of its production, until it is sold to the final consumer. But this GST removes this cascading effect and reduces the burden of multiple taxes on the final consumer.

Increased exemption limit

Exemption limit has been increased for small traders or service providers where as if you consider earlier indirect tax structure, various indirect taxes had different sales turnover limits for registrations. Like, the turnover limits for registration in GST are higher but it exempts the small traders and service providers from paying GST.

Composition Scheme

Small business also gets the benefit of composition scheme which is introduced under GST. Small business owners registered under the composition scheme are required to pay a fixed percentage of tax on their turnover.

Less compliances

Due to GST, there is reduction in number of tax compliances related to tax returns. Earlier the business registered for various indirect taxes had to bear for multiple compliances.

Online process

Registrations and filing returns under GST can be easily done through online process. So there is no problem for a business owner that he had to get himself register separately for various indirect taxes.

Disadvantages

Tax burden on small and medium enterprises

Earlier the small and medium enterprises had to pay excise duty when the turnover exceeded Rs. 1.5 crore every financial year but under GST, businesses whose turnover exceeds Rs 40 lakhs are liable to pay GST.

More Compliances

The GST framework mandates that companies are required to register in all states they operate in.

Petroleum products not fall under GST slab

Petrol and petroleum products are not included under the GST slabs till now. States levy their taxes for this sector.

Training to Tax officers

There is need for providing adequate training to the government officers for practical usage and implementation of such system as the GST system is based on information technology.

Steps to file Monthly Return

  • Firstly you need to visit the GST portal (www.gst.gov.in).
  • A 15-digit GST identification number will be issued to you on the basis of your state code and PAN number.
  • Next step is to file outward return, inward return, and cumulative monthly return online. If any errors occur, you have the option to correct it and refile the returns.
  • In GSTR-1 file the outward supply returns form through the information section at the GST Common Portal (GSTN) on or before 10th of the following month.
  • Now supplier needs to furnish details of outward supplies and will be made available in GSTR-2A to the recipient.
  • Recipient has to verify, validate, and modify the details of outward supplies, and also file details of credit or debit notes.
  • Recipient has to furnish the details of inward supplies of taxable goods and services in GSTR-2 form.
  • The supplier can either accept or reject the modifications of the details of inward supplies made available by the recipient in GSTR-1A.
No other common registration

The registration process is same as mentioned in the registration section.

FAQS

Registered taxpayers are required to file GST returns. Taxpayers having turnover up to Rs. 1.5 crore are allowed to file GSTR-1 on quarterly basis but have to file GSTR- 3B on monthly basis.
Every registered taxable person, is required to file GSTR 1, the details of outward supplies of goods and/or services during a tax period, electronically on the GST Portal.
Step 1 – Login on GST Portal. Step 2 – Go to Services. Step 3 – Select month and year of filing from the drop-down. Step 4 – Click on Prepare Online under GSTR 1 tile. Step 5 – Enter details of Aggregate Turnover for Financial Year 2016-17 (i.e. for the period 1st April 2016 to 31st March 2017).
A penalty of Rs.100 per day is applicable for late filing of GST return. And late filing of GST return will have a cascading effect leading to heavy fines and penalty.
There are 3 types of GST- CGST, SGST and IGST. GST stands for Goods and Services Tax.
The GSTR-3B is a summarised return form while GSTR-1 is a reporting of all output invoices and taxes on them. If system reconciliation were to take place, any additional tax liability would be throwing up on its own with the filing of the 3 forms and will have to be paid up accordingly.
Late-filing penalty: If you owe tax and do not file your return on time, you will be charged a late-filing penalty. Currently, the penalty is 5% of the balance owing, plus 1% of your balance owing for each full month your return is late, to a maximum of 12 months. This means that you may owe up to 17%.
Yes, it is necessary for all GST registered taxpayers to file GST returns on the 10th, 15th and 20th of each month.
Every registered dealer needs to file GSTR-1 on monthly or quarterly basis which contains details of all outward supplies i.e sales.
Formula for calculating GST is GST amount = Product of the actual cost of an item and the percentage of GST imposed is divided by 100.

Pricing Plan

BASIC ₹1180
Monthly

  • 12 Months GSTR Filing (GSTR-1 & 3B)
  • Personalised GST Accountant
  • Billing and Inventory Software
  • GST E-way bill software
  • -
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Get Plan

SILVER ₹2360
Monthly

  • 12 Months GSTR Filing (GSTR-1 & 3B)
  • Personalised GST Accountant
  • Billing and Inventory Software
  • GST E-way Bill software
  • -
  • -
  • -
  • -
Get Plan

GOLD ₹3600
Monthly

  • 12 Months GSTR Filing (GSTR-1 & 3B)
  • Personalised GST Accountant
  • Billing and Inventory Software
  • GST E-way Bill software
  • Monthly 2A Reconcilation
  • Monthly Out Put Reconcilation
  • -
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Get Plan

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