GST Return Filing
GST Return Filing is the mandatory process of reporting a business's sales, purchases, and tax collected/paid to the government under the GST system. Returns must be filed monthly, quarterly, or annually depending on the business type and turnover. Missing deadlines leads to penalties and interest, and can even block future GST filings making timely, accurate filing essential for staying compliant.
WHAT YOU NEED
Requirements to register a Public Limited Company
Who Needs to File
- ✓Mandatory for all businesses registered under GST, regardless of turnover or activity during the period
- ✓Applies to regular taxpayers, composition scheme dealers, and e commerce operators
- ✓Even businesses with nil sales must file a Nil return
Filing Frequency & Deadlines
- ✓GSTR-1 (outward supplies): monthly or quarterly, based on turnover
- ✓GSTR-3B (summary return): monthly, by the 20th of the following month
- ✓GSTR-9 (annual return): once a year, for businesses above the prescribed turnover limit
Penalties for Late Filing
- ✓Late fee of ₹50 per day (₹20 for Nil returns), subject to a maximum cap
- ✓Interest of 18% per annum on outstanding tax liability
- ✓Continued non-filing can lead to GST registration cancellation
