What is GST return filing?
Businesses that are registered under GST have to file the GST returns monthly, quarterly, and annually based on the business. Here it is necessary to provide the details of the sales or purchases of the goods and services along with the tax that is collected and paid. Implementation of a comprehensive Income Tax System like GST in India has ensured that taxpayer services such as registration, returns, and compliance are in range and perfectly aligned.
An individual taxpayer filing the GST returns has to file 4 forms for filing the GST returns such as the returns for the supplies, returns for the purchases made, monthly returns, and the annual returns.
GST return filing in India is mandatory for all the entities that have a valid GST registration irrespective of the business activity or the sales or the profitability during the period of filing the returns. Hence, even a dormant business that has a valid GST registration must file the GST returns.
GST return is a document that contains the details of all the income or the expenses that a taxpayer is required to file with the tax administrative authorities.
Eligibility Criteria
Who should file the GST returns?
GST Return filing in India is to be done by the following:
- A person having a valid GSTIN has to compulsorily file the GST returns.
- Also, a person whose annual turnover is crossing Rs. 20 lakh has to obtain a GST registration and file the GST returns mandatorily.
- In the cases of Special states, the limit for the annual turnover is Rs.10 lakh.
Due dates for filing the GST returns
What are the due dates for filing GST returns?
- GSTR 1: The 11th of Subsequent of that month
- GSTR 3B: The 20th of that subsequent month
- CMP 08: 18th of the month succeeding the quarter of the specific fiscal year.
- GSTR 4: 18th of the month succeeding the quarter.
- GSTR 5: 20th of the subsequent month
- GSTR 6: 13th of the subsequent month
- GSTR 7: 10th of the subsequent month
- GSTR 8: 10th of the subsequent month
- GSTR 9: 31st December of the Fiscal year.
- GSTR 10: Within 3 months of the date of cancellation or the date of cancellation order whichever is earlier.
- GSTR 11: 28th of the month that is following the month for which the statement was filed.
Why Corpadda for Filing GST returns?
Filing GST returns takes around 1 to 3 working days subject to the availability of the government portal and the submission of documents by the client.
Benefits of choosing Coradda
Dedicated GST Consultant
A dedicated consultant with expertise in your industry will assist you throughout the GST registration and filing process. They will support you with specific tasks like uploading invoices and ensure that your filings are submitted on time.
Reminder for GST Return Filing
Our platform guarantees that you receive timely reminders well in advance of the deadline, after which penalties may apply. Additionally, your GST consultant will regularly remind you to ensure that no deadlines are missed.
Monthly GST Status Updates
The GST advisors will provide monthly reports to clients, outlining the status of GST return filing, including GSTR-3B, and offering guidance for the future.
Input Tax Credit Reconciliation
Businesses will have the opportunity to benefit from the government's input tax reconciliation mechanism, which aims to achieve tax neutrality and prevent the input tax from affecting the cost of production or supply of goods and services.
Even in case if there is no business the taxpayer is required to file the Nil GST returns.
Outsource GST Compliance
Outsource your GST compliance to Corpadda to ease your compliance burden and focus your efforts on growing your business. With Corpadda, your GST compliance will be maintained on the CORPADDA GST platform.
You will have a dedicated GST Accountant assigned to your business. Each month, the Accountant will collect all the information and file your GST returns.
You can send us the information through email in any platform or upload the information. We also accept soft copy of invoices and purchase data.
We will file GSTR-3B return and GSTR-1 return for regular taxpayers registered under GST. For composition dealers we will assist in filing GSTR-4 return.
You will only be responsible for providing the information or documents required to prepare your GST return. Once we have prepared the filing, you can verify the calculation and confirm the filing.
Yes, we will provide you input tax credit reconciliation. You can use the same to verify the input tax credit receivable for your business.
Yes, for clients who subscribe to our GST return filing annual package, we provide support for GST refund processing.
Yes, for clients who subscribe to our GST return filing package, we provide support for GST payment challan generation.