GST (Goods and Service Tax) is a single tax on the supply of goods and service, right from the manufacture to the consumer. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with the set off benefits at all the previous stage. GST has been envisaged as more efficient tax system, neutral in its application and distribution ally attractive. To file GST return in India consult to online GST return Filing portal experts.
The taxes subsumed at central level: central Excise Duty, Additional Excise Duty, Service Tax, Additional Customs Duty commonly known as countervailing Duty, and Special Additional Duty of Customs.
The taxes subsumed at state level: State Value Added Tax / State Tax, Entertainment Tax (other than tax levied by the local bodies), Central Sales Tax (levied by the centre and collected by the state) , Octroi and
Entry Tax, purchase Tax, Taxes on Betting, lottery and gambling.
Keeping in mind the federal structure of India there will be two components of GST- Central GST (CGST) and State GST (SGST). Both centre and state will simultaneously levy GST across the value chain. Tax will be levied on every supply of goods and service. The input tax credit of CGST would be available for discharging the CGST liability on the output at each stage. Similarly, the credit of SGST paid on inputs would be allowed for paying the SGST on output. No cross utilisation of credit would be permitted. To know more about GST visit online GST return filing in india portal.
Objectives of GST: The main objective of GST would be to eliminate the double Taxation i.e., cascading effects of taxes on production and distribution of cost of goods and service. The exclusion of casting effect i.e., tax on tax till the level of final consumers will significantly improve the competitiveness of original goods and service in the market which lead to beneficial impact to the GDP growth of the country. Know about important objective of GST on online GST return filing portal.
Know about GST Return from Online GST Return Filing Portal
Section 37 to 48 of the CGST Act, 2017 deals with the provision regarding Returns under the GST law. To meet the concept of digital India the government of India made it mandatory to file all returns electronically. Moreover, one of the basic features of the return mechanism in GST include online gst return filing, uploading of invoice level information and auto-population of information supplier to that of recipient, invoice- level information matching and auto reversal of Input Tax Credit in case of mismatch. The returns mechanism is designed to assist the taxpayer to file returns to avail ITC, for online GSTR 1 filing in India you can visit to online GST Return Filing Portal. Under GST, a regular taxpayer needs to furnish monthly returns and one annual return. There are separate returns for a taxpayer registered under the composition scheme, non- resident taxpayer, taxpayer registered as Input Service Distributor, a person liable to deduct or collect the tax (TDS/TCS) and a person granted unique Identification Number. It is important to note that the taxpayer is not required to file all type of returns. In fact, taxpayers are required to file returns depending on the activities they undertake. GST Returns can be filed through GSTN portal (www.gst.govt.in). For GST return filing in India consult to online GST return filing portal experts.
Every registered person, other than an Input Service Distributor, a non-resident taxable person paying tax under the provision of section 10 or section 51 or section 52 shall furnish electronically in such form and manner as may be prescribed. The registered person shall not be allowed to furnish the details of outward supplies during the period from the eleventh day to the fifteenth day of the month succeeding the tax period. Commissioner may, for a reason to be recorded in writing, by notification, extend the limit for furnishing such details for such class of taxable persons as may be specified. Any query related to online GSTR 3b filing in India visit online GST return filing portal.
Every Registered person who has made outward supplies in the period between the dates on which he became liable to registration till the date on which registration has granted shall declare the same in the first return furnished by him after grant of registration. Subject to conditions and restrictions as prescribed, be entitled to take credit of eligible input tax, as self assessed in his return and such amount shall be credited on a provisional basis to his electronic credit ledger. Read more in depth about GST return Filing from online GST return filing portal in India.
GST RETURN FILLING IN INDIA- A BRIEF by Online GST Return Filing Portal
According to section 39 of the GST Act,2017 , every registered person, other than a Input Service Distributor or a non resident taxable person or person paying tax under the provisions of section 10 or section 51 or section 52 shall , for every calendar month or part thereof, furnish , in such form and manner as prescribed , a return electronically of inward and outward supplies of goods and service or both, input tax credit availed , tax payable tax paid and such other particulars as prescribed on or before the twentieth day of the month succeeding such calendar month or part thereof. Know more about GST return filing in India through online GST return filing portal.
For each quarter or part they shall furnish a return electronically of turnover in the state or Union Territory, inward supplies of goods or services or both, tax payable and tax paid within eighteen days after the end of such quarter. They are required to deduct tax at source under the provision of section shall, in such form and manner as prescribed, a return, electronically , for the month in which such deductions have been made within 10 days after the end of such month. For any consultancy related to online GSTR 1 filing in India visit online GST return filing portal.
Every person registered as Input Service Distributor shall for every calendar month furnish a online gst return filing within thirteen days after the end of such month. Every registered non resident shall file return within 20 days after the end of a calendar month or within seven days after the last day of the period of registration or whichever is earlier. The commissioner may for reasons to be recorded in writing extend the time limit for furnishing the returns under this section for such class of registered persons as may be specified therein. Any extension of time limit notified by the commissioner of state tax or union territory tax shall be notified by the commissioner. To know how to extend the time limit for return filing consult to online GST return filing portal experts.
HOW TO FILE GST RETURN IN INDIA? Explained by online GST Return Filing Experts
Every person who is liable to be registered shall apply for registration within 30 days from the date on which he becomes liable to registration, before applying for registration declare his,
- Legal name of business
- Mobile number
- e-mail address
- state or union territory
in part A of form GST REG-01 on common portal.On successful verification of these numbers, a reference number will be generated. Applicant shall submit part B of form duly signed along with documents specified in the said form at the common online GST return filing portal.
Form REG -02: Acknowledgment of application. If these documents are found to be in order, the proper officer shall approve the registration within 3 working days from the date of submission. If he fails to take action then the registration is deemed to have been approved. If the officer is satisfied with the clarification; he may approve the grant of registration to the applicant within 7 working days on receipt of such application, know about Form REG-02 on online GST return filing portal. If no reply by applicant in response to notice issued or proper officer is satisfied with the clarification, he shall reject such application with reason in writing and inform the applicant in Form GST REG-05. Where no action is taken in 7 days on the clarification received from the applicant, the registration is deemed to have been granted. Read how to file GST return in India through online GST return filing portal.
Know what is Certificate of registration through online GST return filing experts : It shall be granted in Form GST REG-06. It contains goods and service tax identification number (GSTN) :
- Two character for the state code
- Ten character for the PAN
- Two character for the entity code
- One checksum character
Cancellation : the following persons are allowed to cancel registration
- The registration person himself
- By a GST officer
- The legal heir of the registered person
For any consultancy regarding how to GST Return in India visit online GST return Filing portal.
Know who should file GST Return in India by Online GST Return filing portal
All business owners and dealers who have registered under the GST system must file GST returns according to nature of their business or transactions.
- GSTR 1 : The tax for outward supplies made
- GSTR 2 : Monthly return for inward supplies received
- GSTR 3 : consolidated Monthly Tax return
- GSTR 3B: temporary consolidated summary return of inward and outward supplies that the government of India has introduced as a relaxation for business that have recently transitioned to GST
- GSTR 9 : Annual consolidated tax return
- GSTR 9C: Audit form that needs to be filed by every taxpayer who is liable to get their annual report audited when heir aggregate turnover exceeds rs.2 crores in a financial year. Know which all GST regular regular business should file on online GST return portal.
BUSINESS REGISTERED UNDER THE COMPOSITION SCHEME :
- GSTR4 : Quarterly return for compounding vendors made during the period covered by the return , along with the details of the tax paid at the compounding rate for the period along with invoice wise details for inward supplies if they are either imports or purchased from normal taxpayers
- GSTR 9A : annual composition return form that has to be filed by every taxpayer who is enrolled in composition scheme. Read about GST composition scheme on online GST return filing in India.
OTHER TYPE OF BUSINESS OWNERS AND DEALERS
- GSTR 5 : variable return for non resident foreign taxpayers
- GSTR 6: Monthly return for ISDs , period to which the return pertains , invoice level supply details from the GSTR-1 of counter parties, invoice details, Including the GSTIN of the taxpayer receiving the credit, separate ISD ledger containing the opening ITC balance for the period, credit for ITC service received , debit for ITC reversed and closing balance
- GSTR7 : Monthly return for TDS transactions
- GSTR 8 : Monthly return for e-commerce operators
- GSTR 9B: Annual return form that has to be filed by e commerce operators who collect tax at source
- GSTR 10 : Final GST Return before cancelling GST registeration
- GSTR 11 : variable tax return for taxpayers with UIN
Know about different Types of GST Returns on online GST Return Filing portal
- GSTR 1 : Details of outward supply of goods or service:A registered taxable person shall furnish electronic statement of the details of outward supplies of goods and services for the tax period on or before the 1000th succeeding tax period. Source info given by online GST return filing experts.
- GSTR 1A: Auto drafted details of supplies of goods or services: It allows a registered tax payer to update the details of sales for GSTR 1 which was filled earlier. The information comes from the buyer’s GSTR2 when he modifies any data. The supplier of goods or service may either accept or reject the change.
- GSTR 2 : information pertaining to inward supply of goods or services: A registered person shall furnish the details of inward supplies of goods and services including the goods and services under reverse charge basis and goods and services received under IGST. Source info given by online GST return filing experts.
- GSTR 2A : Auto drafted details of supply from GSTR1 and GSTR 5 to recipient : it is a purchase related tax return that is automatically generated for each business by GST portal
- GSTR 3 : consolidated monthly return : it is a monthly return with summarized details of sales during the month along with the amount of GST liability
- GSTR 3B: Monthly return containing details of taxes collected on outward supplies and details of taxes paid on input supplies
- GSTR 4 : Return for composite dealer (quarterly) : It is a GST Return that has to be filed by composite dealer. Unlike a normal taxpayer who needs to furnish 3 monthly returns a dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4. Source info given by online GST return filing experts.
- GSTR 4A: auto populated details for composite dealer : this form is an auto drafted and read only form. It is auto created on basis of data from the saved /submitted/ filed form GSTR -1/5 and filed form 7 of the taxpayers, where composition dealer is the recipient
- GSTR 5 : goods and service tax return of non resident taxable person : this return will contain all business details for non resident (NR) including the details of sales and purchase
- GSTR 5A: particulars of supplies of online information and database access or retrieval se3rvice by person located outside India to non taxable person in India. Source info given by online GST return filing experts.
- GSTR 6: Return for input service distributors: This return contains the details of ITC received by an input service Distributor of ITC. It is to be filed before 13th of next month
- GSTR 7: Return for tax deducted at source: It is a return to be filed by the person who is required to deduct TDS under GST. It contains the details of TDS deducted. TDS liability payable and paid , TDS refund claimed if any etc.,
- GSTR 8 : particulars of tax collection at source : It is a return filed by e-commerce operator who are required to deduct TCS under GST. It contains the details of supplies effected through e-commerce
- GSTR 9: Annual Return : it is an annual return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme and those engaged in supply of goods of suppliers on electronic commerce of platform. Source info given by online GST return filing experts.
- GSTR 11: Inward supply of person having Unique Identity Number : it is a return to be filed by the person who has been issued a Unique Identity Number in order to get refund under GST for the goods and services purchased in India
Understand What Are Various GST Rates with online GST Return Filing Experts
- Tax slab : No Tax(0%)
Goods included : There will be zero tax imposed on items such as jute, fresh meat, fish, chicken, eggs, milk, butter milk, curd, natural honey, fresh fruit and vegetables, flour, besan bread, Prasad, salt, bindi, sindoor, stamps, judicial papers, printed books, newspaper, bangles, handloom, bones and horn cores, bone grist,etc., cereal grains hulled Palmyra jiggery, salt- all types, kajal, children’s picture, drawing or colouring books, human hair , khadi purchased from khadi and village industries stores, clay idols, brooms, cotton seed , oil cake , charkha. Source info given by online GST return filing experts.
Services : there will be no tax on hotels and lodges with tariff below rs.1000 A 0.25 percent tax will be levied on rough precious and semi precious stones
- Tax slab: 5 %
Goods include: there will be a tax of 5% imposed on products like fish fillet, apparel below rs.1000, packaged food items, footwear below rs.500, cream, skimmed milk powder, branded paneer, frozen vegetables, coffee, tea , spices, pizza bread, rusk, sabudana, kerosene, coal, medicines, stent, lifeboats, cashew nuts in shell, raisin, ice and snow, Bio gas, insulin, agarbatti, kites, postage, or revenue stamps,corls,Rosaries and prayer beads, Hawab samagri, grass, leaf and reed and fibre products, including mats, pouches and wallets. Source info given by online GST return filing experts.
SERVICES: transport services such as Railways, air transport, small restaurants and textile jobs will be under 5% tax category because their main input is petroleum, which is currently outside GST ambit.
- Tax Slab 12% :
Goods include: apparels above rs.1000, frozen meat products, butter, cheese, ghee, dry fruits in packaged form, animal fat, sasuage, fruit juice, bhutia, namkeen, ayurvedic medicines, tooth powder, agarbatti, colouring books picture books, umbrella, sewing machine, cellphones, ketchups and sauses , all diagnostic kits and reagents, note boojs, spoons, forks, ladles, skimmer, cake servers, fish knives, tongs, spectacles etc. Source info given by online GST return filing experts.
Services include: it will be levied on services such as state run lotteries, non AC hotels, business class air ticket, fertilisers and work contract
- Tax Slab 18 % :
Goods include: Footwear costing more than 500, trademarks, goodwill, software, bidi patta, biscuit, flavoured refined sugar, pasta, cornflakes, pastries and cakes, preserved vegetables, jams, sauce, soups, ice cream, instant food mixers, mineral water, tissue, envelope, tampons, note books, kaja pencil sticks, headgear and parts thereof, aluminium foil, weighing machinery, electrical transformer, CCTV, optical fiber, Bamboo furniture, swimming pool and padding pools, rice rubber roils forpaddy de- husking machine, kitchen gas lighters
Services include: hotel services such as AC hotel serving liquor, room tariffs between Rs.2500 and Rs.7500 Restaurants inside five star hotels, IT services, branded garments and financial services will attract 18% tax slab
- Tax Slab 28% :
Goods include: bidis, chewing gum, molasses, chocolate not containing cocoa, waffles and wafers coated with chocolate, pan masala, aerated water, paint, deodorant, shaving creams, after shave, hair shampoo, dye, sunscreen, wallpaper, ceramic tiles, water heater, dishwasher, ATM, vending machines. Source info given by online GST return filing experts.
Services include: state authorised private run lotteries, hotels with room tariffs above rs.7500, race club betting and cinema are all under the highest tax slab
PROCESS OF ONLINE GST RETURN FILING IN INDIA
From manufacture and suppliers to dealers and consumers, all taxpayers have to file their tax return s with the GST department every year. Under the new GST regime, filling tax returns has become automated. GST returns can be filed using software or apps provided by goods and service tax network (GSTN) which will auto populate the details on each GSTR forms. Listed below are steps for filling GST returns. On online GST return filing portal you can file your Gst returns in step wise process.
- Visit the GST portal (www.gst.govt.in) or online GST return filing portal.
- A 15 digit GST identification number will be issued based on your state code and PAN number
- Upload invoices on the GST portal or software. An invoice reference number will be issued against each invoice.
- After uploading invoices, outward return, inward return and cumulative monthly return have to be filed online. If there are any error there is a option to correct it and file the return.
- File the outward supply returns in GSTR-1 form through the information section at the GST common Portal (GSTN) on or before 10th of the following month
- Details of outward supplies furnished by the supplier 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 service in GSTR-2 form
- The supplier can either accept or reject the modification of the details of inward supplies made available by the recipient. Any query regarding online GST return filing in India consult to online gst return filing portal.
FILLING GST WITHIN GSTN: the goods and service Tax Network will store information of all GST registered sellers and buyers , combine the submitted details and maintain registers for future reference. Companies have to file 3 monthly and one annual return in a financial year (37 returns in total).
BENEFITS OF ONLINE GST RETURN FILING
- It eliminates the cascading effect of tax : GST is a comprehensive tax that was designed to bring the indirect taxation under one umbrella. More importantly, it is going to eliminate the cascading effect of that was evidence earlier. Cascading tax effect can be best described as “tax on tax ”
- Higher threshold for registration: earlier VAT structure, any business with a turnover of more than rs.5akhs was liable to pay VAT. It is to be noted that this limit differed state wise. Also, service tax was exempted for service providers with a turnover of less than Rs. 10 Lakh. Under GST regime, however this threshold has been increased to Rs.20lakh, which exempts many small traders and service providers. Read about benefits of online gst return filing in India.
- Composition scheme for small business: Under GST, small business (with a turnover of rs.20 to 75 lakh) can benefit as it gives an option to lower taxes by utilising the composition scheme. This move has brought down the tax and compliance burden on many small business. Know benefits on composition scheme for small business in india via online gst return filing experts.
- Simple and easy online procedure: The entire process of GST(from registration to filling return) is made online, and its super simpe. This has been beneficial for start ups especially, as they do not have to run from pillar to post to get different such as VAT, excise, and service Tax.
- The number of compliance is lesser: Earlier there was a VAT and service tax, each of which had their own returns and compliance
Some other benefits of timely filling of return includes the following,
- Removal of cascading effect of taxes
- Logistical efficiency improvement
- Reduced complexity and less compliance
- Regulation of unorganised sector
- Composition scheme for the small and medium enterprises
- Increased threshold for registration
- Simple GST online registration procedures via GST registration portals or online GST return filing portal.
DOCUMENTS REQUIRED FOR ONLINE GST RETURN FILLING IN INDIA
Here is the list of documents needed for GST registration:
- PAN card of the business and applicant: the first thing in GST registration documents list is to get the PAN of the business and of the authorized signatories/applicant (Directors/partners/proprietor)
- Contact details and a valid email address: a valid mobile number and an email address of the primary authorized signatory is required to be filled at the time of GST registration. For any consultancy related to documents required for online gst return filing consult online gst return filing portal.
- Proof of place of business: principal place of business is the primary location within the state where a taxpayer’s business is performed or where the business’s book of accounts and records are kept.
- As a supporting documents for GST registration, the following documents must be kept handy: Source info given by online GST return filing experts.
- Any supporting documents giving title to the ownership of the premises such as Latent Property Tax , Receipt or Municipal Khata copy or copy of Electricity Bill
- Copy of the valid Rent/ Lease Agreement / Consent letter (as applicable)
- For every additional place of business in the state, proof of such additional place of business
- Valid bank account number from India: the bank account maintained for conducting business should be mentioned. Details of upto 10 bank account can be entered. The Indian Financial System Code (IFSC) number of the same bank and branch has to be filled. Now you may file your online GSTR 1 filing in India through online gst return filing portal.
- Other required documents for GST registration:
- List of goods and service
- Proof of appointment of authorized signatory (letter of authorization or copy of board resolution)
- Authorized signatories photo
- It is important to have digital signature (class 2 digital signature) in case of companies and LLP’s, of the person who is authorised to sign the GST application. File GST return in India through online GST return filing in India.
- Incorporation certificate (for company)
- Other regulatory registration details such as professional Tax, State Excise License details(if applicable)
IMPORTANT DUE DATES FOR FILLING GST RETURN BY ONLINE GST RETURN FILING PORTAL
|FORM||PARTICULARS||MONTHLY/ QUARTERLY||DUE DATE|
|GSTR 1||Details of outward supplies||monthly||10th of succeeding month|
|GSTR 1A||Auto population form GSTR 1||Monthly||11th to 15th of succeeding month|
|GSTR 2||Details of inward supplies||monthly||15th of succeeding month|
|GSTR 2A||Auto populated form from GSTR 2||monthly||15th to 17th of succeeding month|
|GSTR 3||Monthly return to be filed by both recipient and supplier||monthly||20th of succeeding month|
|GSTR 4||Return for composition||quarterly||18th day after the quarter ends|
|GSTR 5||Return for non resident taxable person||Earlier of two dates-
20th of succeeding month
Within 7 days of the expiry of a period of registration
|GSTR 6||Return for input service distributor||monthly||13th of succeeding month|
|GSTR 7||Return for deductor of Tax||monthly||10th of succeeding month|
|GSTR 8||Return for E-commerce operator||monthly||10th of succeeding month|
|GSTR 9||Annual return||yearly||31st December of succeeding month|
|GSTR 9A||Annual return for composition scheme||yearly||31st December of succeeding month|
|GSTR 9B||Annual return for e- commerce operator||yearly||31st December of succeeding month|
|GSTR 10||Final or last return||Yearly||31st December of succeeding month|
|GSTR 11||Return for the person havig UIN||Monthly||28th of succeeding month|
FAQ’s ABOUT ONLINE GST RETURN FILLING IN INDIA
What type of outward supply details are to be filled in return?
A normal registered taxpayer has to file the outward supply details in GSTR 1 in relation to various types of supplies made in a month, namely outward supplies to registered persons, outward supplies to unregistered persons, details of credit/ debit notes, and advances received in relation to future supply
Is the scanned copy of invoices to be uploaded along with GSTR 1?
No scanned copy of invoices is to be uploaded. Only certain prescribed fields of information from invoices need to be uploaded
Whether description of each item in the invoice will have to be uploaded?
No. In fact, description will not have to be uploaded. Only HSN code in respect of supply of goods and accounting code in respect of supply of services will have to be fed.
Whether value for each transaction will have to be fed?
Yes. Not only value but taxable value will also have to be fed. In some cases, both may be different . In case there is no consideration , but it is supply by virtue of schedule 1, the taxable value will have to be worked out as prescribed
Does the taxable person have to feed anything in the GSTR 2 or everything is auto populated from GSTR 1?
While a large part of GSTR 2 will be auto populated, there are some details that only recipient can fill like details of imports, details of purchases from non registered or composition suppliers and exempt or non GST / nil GST supplies etc.,
What is the special feature of GSTR-2?
The special feature of GSTR 2 is that the details of supplies received by recipient can be auto populated on the basis of the details furnished by the counterparty supplier in GSTR1. Read in detail about GSTR -2 by online gst return filing portal experts.
Do input service distributor need to file separate statement of outward and inward supplies with their return?
No, the ISDs need to file only a return in the form GSTR 6 and the return has the details of credit received by them from the service provider and the credit distributed by them to the recipient unit.
Is an annual return and a final return one and the same?
No, annual return has to be filed by every registered person paying tax as a normal taxpayer. Final return has to be filed only by those registered persons who have applied for cancellation of registration
Is it compulsory for a taxpayer to file return by himself?
NO. A registered taxpayer can also get his return filed through a Tax Return Preparer, duly approved by the central or the state tax administration
What is the consequence of not filling the return within the prescribed date?
A registered person who files return beyond the prescribed date will have to pay late fees of ruppes one hundred for every day of delay subject to maximum of rupees five thousand . for failure to furnish annual returns by due date, late fee of rs. One hundred for every day during which such failure continues subject to a maximum of an amount calculated at a quarter percent of his turnover in a state, will be levied.
Company vakil is one of India’s largest legal services platform which offers company registration, Trademark registration, Legal Tax filling, GST registration for start up, entrepreneurs at the lowest price. Company vakil with the help of technology simplifies the process of registration in India. This is one of the very few websites which got 5 stars rating from its consumer for their excellent work regarding registration. This has been classified as one of the best company registration website in India and has secured 2nd place amongst its competitors.
WHY CHOOSE COMPANY VAKIL FOR GST REGISTERATION?
- Purely online based : company vakil helps its customer to register their GST and file returns without even stepping out of the house. They offer 100% online based service.
- Guaranteed work : an excellent feature of company vakil is that they offer complete guarantee to their work, even the payment will be refused for non completion of work within stipulated time
- Updated with information : all the information regarding the customers work in GST or in filling return will be updated to them and they have no need of worrying about their delayed filling
- Financial worthiness: Their transparency in work makes them unbeatable in the market of competition , everything over here is based on the sole purpose of customer satisfaction.