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GST Return Filing

GST Return Filling is a critical activity that acts as a link between the government and the taxpayer. As per the GST law, every individual or entity registered under the GST Act has to furnish the details of sales, purchases, and the tax paid by filing form GST returns with the administrative authorities. Once the GST Registration is done, it is the responsibility of the taxpayer to file the GST Return. While filing the GST return, the taxpayer has to provide all the requisite information related to the business and transactions, tax declaration, and payments.GST Return Filing is deemed to be filed electronically that helps the taxpayer in preparing the offline GST return and then upload it on GSTN through the facilitation center.

GST Return Filing is a mandatory compliance for every business that is registered under the GST Act/regime. Under GST (Goods and Services tax), filing the GST returns is a crucial activity that works as a link between the government and the taxpayer.
While filing the return, the taxpayer has to provide the information such as the details of the business activity, payment of taxes, declaration of tax liability, and other information as required by the government.
GST returns are supposed to be filed electronically, i.e. on the GST portal. However, there’s a facility where one can also file GST returns manually.
Such returns are prepared offline and then uploaded to GSTIN portal either through the taxpayer or a facilitation centre.
Every GST registration holder who is taxable under the GST Act, 2017, are required to file GST returns as based on the nature of their business.
Therefore, whether you are engaged in the selling of goods or render services to others, you must obtain GST registration and file the returns periodically.

Frequently Asked Question

What are the consequences of late filing of GST returns?

  • Interest @ 18% p.a. of tax amount is payable if return is not filed in time and tax remains unpaid

  • Late fee:-

    • In case of ‘Nil’ Return:- Rs. 20 per day of delay

    • Other cases:- Rs. 50 per day of delay

    • Maximum Late Fees: Rs. 5,000
  • If 2 consecutive returns are not filed, e-way bill functionality will not be accessible for defaulting taxpayer

Is there any capping on maximum amount of late fees payable on late filing of GST returns

Looking to the hardships faced by the taxpayers, the GST Council has fixed the capping for a maximum late fee payable for delayed filing of GST returns. In case of 'Nil' liability, the late fee shall be maximum Rs. 500 per return. In other cases, the late fee shall be ranging between a maximum amount of Rs. 2000 to Rs. 10,000.