GST Filing

Stay on top of your GST obligations with our efficient filing services. Our professionals will guide you through the filing process, ensuring accuracy and compliance.
Let BizReg handle the complexities, while you focus on your business success.

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Steps for GST Return Filing

Get in touch with our team

Book a slot with our GST experts and resolve all your queries. If not yet registered, then get your GST registered on time.

Preparing and Updating invoices

Provide the required documents and fill in essential details such as B2B invoices , B2C invoices, ITC details for initiating the return filling process.

GST Return Calculation and Filing

We will calculate the GST and file the return on your behalf on the online portal. You will get the acknowledgement for the same.

Overview

GST return filing is a mandatory compliance process for businesses registered under the GST regime, introduced in 2017. This process involves reporting business transaction details and tax information, thereby helping to standardize the GST framework and ensure proper tax collection and credit allocation.
The filing process includes submitting data on sales, purchases, output GST (tax collected on sales), and input tax credit (ITC) from purchases. Businesses are typically required to file GST returns monthly, quarterly, or annually, depending on their turnover and specific GST filing category. Each GST return summarizes details from invoices, receipts, payments, and other relevant financial transactions. To avoid penalties and maintain compliance, it is crucial for taxpayers to file their GST returns by the specified due dates.

GST Return – Types and Due Dates

  1. GSTR-1:
    ~Description: Contains details of outward supplies (sales) made by the taxpayer.
    ~Filing Frequency: Monthly for regular taxpayers with a turnover exceeding Rs. 1.5 crore; quarterly for taxpayers with a turnover up to Rs. 1.5 crore.
    ~Due Date: Monthly GSTR-1: 11th of the following month; Quarterly GSTR-1: 13th of the month following the quarter.
  2. GSTR-3B:
    ~Description: Summarized return detailing both inward and outward supplies and input tax credit.
    ~Filing Frequency: Monthly for all regular taxpayers.
    ~Due Date: 20th of the following month.
  3. GSTR-4:
    ~Description: Filed by taxpayers under the Composition Scheme, providing quarterly outward supplies and tax payments.
    ~Due Date: 18th of the month following the quarter.
  4. GSTR-5:
    ~Description: Filed by Non-Resident Foreign Taxpayers conducting business transactions in India.
    ~Due Date: Within 20 days after the end of the respective tax period or within 7 days after the expiry of registration, whichever is earlier.
  5. GSTR-6:
    ~Description: Filed by Input Service Distributors (ISD) to distribute input tax credit among their branches or units.
    ~Due Date: 13th of the following month.
  6. GSTR-7:
    ~Description: Filed by Tax Deductors (TDS deductors) providing details of TDS deducted and deposited.
    ~Due Date: 10th of the following month.
  7. GSTR-8:
    ~Description: Filed by e-commerce operators, detailing supplies made through their platform and TCS (Tax Collected at Source).
    ~Due Date: 10th of the following month.
  8. GSTR-9:
    ~Description: Annual return providing a consolidated view of outward and inward supplies made during the financial year.
    ~Due Date: 31st of December of the following financial year.
  9. GSTR-10:
    ~Description: Filed for the final return when a taxpayer surrenders or cancels their GST registration.
    ~Due Date: Within 3 months of the date of cancellation or date of order of cancellation, whichever is later.

Documents Required

  1. Purchase Invoices: Invoices received from suppliers for goods and services purchased, containing details such as supplier’s GSTIN, invoice number, date, description of goods/services, quantity, value, and applicable taxes.
  2. Sales Invoices: Invoices issued to customers for goods and services supplied, including details like customer’s GSTIN, invoice number, date, description of goods/services, quantity, value, and applicable taxes.
  3. Credit and Debit Notes: Credit notes for adjustments in sales invoices (e.g., discounts, returns) and debit notes for adjustments in purchase invoices.
  4. Tax Challans: Receipts for GST payments made to the government, specifying tax amount, tax type (CGST, SGST, IGST, or cess), and relevant tax period.
  5. Input Tax Credit (ITC) Records: Records supporting the claim of input tax credit on eligible purchases, including invoices, debit notes, and other relevant documents.
  6. Export and Import Documents: For businesses involved in export/import, documents like shipping bills, bill of entry, and export invoices.
  7. Delivery Challans: Challans for the movement of goods without a tax invoice, used for purposes like job work, supply to a registered dealer, or export.
  8. E-way Bills: Documents generated for the movement of goods exceeding specified thresholds within or between states.
  9. Bank Statements: Reflecting transactions related to GST payments and refunds.
  10. GST Registration Certificate: Copy issued by the tax authorities.

Benefits of Filing

  • Legal Compliance: Ensures adherence to tax regulations, avoiding penalties and legal issues.
  • Input Tax Credit (ITC): Allows businesses to claim tax credits on purchases, reducing tax liability and boosting profitability.
  • Transparent Tax System: Promotes transparency by requiring accurate reporting, minimizing tax evasion.
  • Seamless Flow of Input Credit: Facilitates smooth transfer of Input Tax Credit, fostering a healthy business environment.
  • Business Credibility: Enhances credibility, reflecting financial discipline and professionalism.
  • Access to Government Schemes: Eligibility for various government schemes and incentives with valid GST registration and regular filing.
  • Better Financial Planning: Provides clarity on tax liabilities and credits, aiding in financial planning and budgeting.
  • Inter-State Trade Facilitation: Essential for businesses engaged in inter-state trade, allowing claim of IGST paid on such supplies.
  • Digitalization and Efficiency: Promotes digitalization, reducing paperwork and enhancing efficiency in tax processes.
  • Contributing to National Development: Contributes to the nation’s development and welfare programs through tax revenue.

Composition Scheme

  • Types of Returns:
    GSTR-4: Composition taxpayers are required to file GSTR-4, a quarterly return summarizing outward supplies made during the quarter and the tax paid on such supplies.
  • Frequency of Filing:
    Composition taxpayers file GSTR-4 quarterly, with the return due by the 18th of the month following the quarter.
  • Information to be Reported in GSTR-4:
    ~Summary of outward supplies made during the quarter, including details of supplies to registered and unregistered persons.
    ~Details of inward supplies attracting reverse charge (if applicable).
    ~Consolidated tax payable on the outward supplies.
    ~Adjustments made in the tax liability due to excess or short payment in previous quarters.
    ~Other relevant information as required.
  • Eligibility and Conditions:
    ~Businesses with an aggregate turnover of up to Rs. 1.5 crore in the previous financial year can opt for the Composition Scheme.
    ~Certain specified activities, such as interstate supplies, e-commerce, and non-taxable supplies, make businesses ineligible for the Composition Scheme.
    ~Composition taxpayers cannot collect tax from customers; instead, they pay tax at a fixed percentage of their turnover.
  • Payment of Tax:
    ~Composition taxpayers pay tax at fixed rates based on their business category: Manufacturers (1%), Traders (0.5%), Restaurants (5% for both AC and non-AC).
    ~They are not eligible to claim input tax credit on their purchases.
  • Annual Return:
    Composition taxpayers are exempt from filing GSTR-9 (annual return) and only need to file GSTR-4 quarterly.
  • Compliance Simplification:
    While the Composition Scheme offers reduced compliance burden compared to regular taxpayers, timely and accurate filing of GSTR-4 within the due dates is essential to avoid penalties and stay compliant with GST regulations.

Filing Process

  1. Discuss your GST return filing requirements with our team
  2. Provide us with necessary financial data, including sales, purchases, and input tax credit.
  3. Based on the provided data, the required GST returns are prepared.
  4. Then the data reported in GSTR-1 and GSTR-3B is reconciled with your books of accounts.
  5. Our team calculates the due tax amount and guides you on making payments using available modes on the GST portal.
  6. GST return is filed on your behalf through the GST portal.
  7. If applicable, we assist you in filing the annual return (GSTR-9) to provide a consolidated view of your business transactions during the financial year.
  8. For businesses exceeding the prescribed turnover threshold, we guide you through the GST audit process and assist you in filing the GST Audit Report (GSTR-9C).

Why BizReg?

With BizReg, you can complete your GST return filing in just 1-2 hours, saving you valuable time and effort. Our team comprises experts well-versed in GST regulations and procedures. You can rely on our expertise to ensure accurate and compliant GST return filing.

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