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GST-registered businesses have to file GST returns monthly, quarterly, and annually. In this case, the details of the sales or purchases of the goods and services as well as the taxes that are collected and paid must be provided. With the implementation of a comprehensive Income Tax System like GST in India, taxpayer services such as registration, returns, and compliance have been aligned perfectly.
Taxpayers must file 4 forms for filing GST returns, including the return for supplies, the return for purchases, the monthly return, and the annual return.
The filing of GST returns in India is mandatory for all taxpayers who have a valid GST registration, regardless of the business activity, sales or profitability during the filing period. Even dormant businesses that have valid GST registrations must file GST returns.
GST returns are documents that detail the income and expenses a taxpayer is required to report to the tax authorities.
Under the GST regime, regular businesses having more than Rs.5 crore as annual aggregate turnover have to file two monthly returns and one annual return. This amounts to 25 returns each year.
Details of the outward supplies of the taxable goods and or services. This must be filed monthly / quarterly if opted for QRMP scheme. The due date for filing is 11th of Subsequent of that month.
Simple returns in which a summary of the outward supplies along with the input tax credit that is declared and the payment of the tax is affected by the taxpayer. The due date for filing is between 11th and 15th day of the succeeding month for which return is to be filed.
Simple returns in which a summary of the outward supplies along with the input tax credit that is declared and the payment of the tax is affected by the taxpayer. This must be filed monthly / quarterly if opted for QRMP scheme. The due date for filing is 20th of Subsequent of that month
Returns to be filed by the taxpayer that is registered under the composition scheme under Section 10 of the CGST Act. This must be filed Annually. The due date for filing is 18th of the month succeeding the quarter.
Returns to be filed by a Non-resident taxable person. This must be filed monthly. The due date for filing is 20th of subsequent month.
To be filed by the input service distributor to distribute the eligible input tax credit. This must be filed monthly. The due date for filing is 13th of subsequent month.
To be filed by government authorities. This must be filed monthly. The due date for filing is 10th of subsequent month.
Details of supplies that are affected through the e-commerce operators and the amount of tax that is collected at the source by them.. This must be filed monthly. The due date for filing is 10th of subsequent month.
Annual return for a normal tax payer. This must be filed annually. The due date for filing is 31st December of the Fiscal year.
Is filed by the taxpayer whose GST registration is canceled. This must be filed once the GST registration is canceled or surrendered. The due date for filing is within 3 months of the date of cancellation or the date of cancellation order whichever is earlier.
Details of the inward supplies are furnished by a person who has UIN and also claims a refund. This must be filed monthly. The due date for filing is 28th of the month that is following the month for which the statement was filed.
Statement cum challan to make a tax payment by a taxpayer registered under the composition scheme under Section 10 of the CGST Act. This must be filed quarterly. The due date for filing is 18th of the month succeeding the quarter of the specific fiscal year.
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Every person or entity registered under GST would be required to submit a GST return for the prescribed period. It is still necessary to file a GST Nil Return even if an entity does not have an activity to stay compliant with the GST regulations.
There is no procedure or revision of a GST Return. Unreported invoices from the previous tax period must also be included in the current month's tax return, as well as interest if any.
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