GST RETURN FILING: How to File GST Returns

INTRODUCTION:

GST Return Filing is a compulsory process for every person who has a business and registered under the GST Act. GST Return Filing is a very critical activity and a link between the government and the person who is paying the tax.

When the person is filing the return there are many compliances that the person shall follow like providing all the information such as every detail activities of business, taxes paid, the declaration of tax liability, and any other information which is required by the government.

GST return can be filed electronically which is on GST Portal and one can also file manually. The returns which is provided manually or offline can be uploaded on the portal afterward by the taxpayer or the facilitation centre.

WHO ARE REQUIRED TO FILE GST RETURN?

Every person who is registered under the Goods and Service Act, 2017 is liable to pay the GST return and it is depending upon the nature of business.

Hence, even if you are involved in selling of goods or rendering services to others, you will have to registered yourself under GST and file the appropriate GST Return timely.

If any registered person is involved in the following activities has to file the GST return:

• Sales;
• Purchase;
• Input Tax Credit with the GST which is paid on purchase;
• Output GST.

WHO DOES NOT NEED TO FILE GST RETURN?

If the person is registered under the GST Act, but the turnover of business is not exceeding Rs. 40 Lakhs, then the registered person is not liable to file GST return.

However, if the person belongs to North-Eastern and Hilly Regions then if the turnover of the business is not exceeding Rs. 20 Lakhs, then the registered person is not liable to file GST return.

HOW TO CHECK THE STATUS OF GST RETURN FILED?

If any person has filed the GST return online and he wants to check the status of the GST return then he shall follow the following steps:

1. Visit the GST portal which is https://www.gst.gov.in/
2. Provide all the details which is asked on the login page.
3. Choose and click Services then Returns then Track Return Status.
4. Then from the drop down menu select ‘Status of Return’.
5. Click search icon.
6. The status will be showed like: to be filed or submitted but not filed or filed and valid or filed and invalid.

PENALTY FOR NOT FILING GST REURN:

If GST return is not being filed on given time then the taxable person will be liable for late fee and also for interest.

The interest is 18% per annum and the interest will be calculated by the taxpayer on the amount which is outstanding.

Late fee is Rs. 100 per day as per the act. So, there are Rs. 100 under CGST Act, and Rs. 100 under SGST the total will be Rs. 200 per day. The maximum amount which can be charged will be Rs. 5000. However, there will no liability under IGST Act.

Author- Adv.Shivam Kumar

Legel and content Executive, Taxblock India Pvt. Ltd