In order to simplify the complicated and multi-level tax filing process for businesses and ease up entrepreneurship, the Government of India implemented the Goods and Services Tax in 2017. While earlier different states forced different taxes on businesses operated in their regions, making interstate operations extremely difficult for small scale businesses, GST made the tax system more uniform. The very idea behind the Goods and Services tax- ‘One Nation, One Tax’ is self-explanatory.
What Is GST Return?
GST Returns is a form of indirect tax that came into existence since 1st July 2017 to be specific. The tax is an amalgamation of various indirect taxes that businesses running interstate or intrastate had to pay earlier. It eases the process of paying up indirect taxes for firms with online GST return filing and removes the chances of paying double taxes. Although compulsory, the GST council has laid down eligibility criteria for businesses required to do GST registration. GST Returns have to be filed on a monthly/ quarterly basis in addition to filing of annual return. The regulations also get upgraded with new changes in practice from time to time by the GST council. It is thus, taking help for online GST return filing from professionals becomes a need.
Types Of GST Returns To File Online?
Before we get onto the process of online GST return filing, let us first look at the types of GST returns that different businesses have to file depending on their category.
| Sl. No. | GST-Return Form | Details | Due Date |
| 1 | GSTR-1 | Outward supplies of goods and services by a Supplier | 11th of every month (above- 1.5crore Turnover) Last day of the month for suppliers having turnover less than 1.5cr |
| 2 | GSTR-2 | Inward supplies claiming input tax credit | (suspended for now) |
| 3 | GSTR-3B | Summarized details of outward and inward supplies with the payment of tax | 20th of the next month |
| 4 | GSTR-4 (CMP 08) | Quarterly return for payment deposition for composition supplier | 18th of the month that succeeds the quarter period |
| 5 | GSTR-5 | Return of all inward and outward supplies to be filled by non resident persons or foreign taxable persons | 20th of the every month |
| 6 | GSTR-5A | Return to be filed by OIDAR service providers | 20th of the every month |
| 7 | GSTR-6 | Input service distributor | 13th of the every month |
| 8 | GSTR-7 | Return to be filed by Authorities deducting tax at the source | 10th of the every month |
| 9 | GSTR-8 | Return to be filed by E-commerce operator giving details of tax collection at source | 10th of the every month |
| 10 | GSTR-9 | Annual Return by the regular taxpayer | 31st December of the following Fiscal Year |
| 11 | GSTR-9A | Annual Return by the composition traders | 31st December of the following Financial Year |
| 12 | GSTR-9C | Audit Statement in case of persons with turnover above Rs. 5 crores | 31st December of the following Financial Year |
| 13 | GSTR-10 | Final Return to be filed for registrations cancelled or surrendered | Within three months of the cancellation |
| 14 | GSTR-11 | Details of inward supplies by a person having UIN and claiming refund | 28th of the every month |
One has to understand that there are different forms for different taxpayers, and while it sounds easy, filing numerous times a year is not an easy task. The process involves uploading all invoices proving both purchases and sales in an organization. Although GST Return for Pvt Ltd Company and other entities is eased up to some extent due to the software that the GST portal makes use of that automatically calculates the tax amount based on the invoices you upload. However, it is very time taking, and which is the very reason why mostly GST Return for Pvt Ltd Company and other entities is done by professionals. While earlier, the Chartered Accountants were required to help organizations pay up the multiple taxes, now with the online GST portal, they are needed to assist in filing GST returns. But, thanks to the various digital agencies, small business owners with a limited budget and controlled hiring system can now trust companies like Tax Wink for immediate legal assistance.
Although there are many virtual and physical legal assistants available at a tap of a finger, the GST portal is simple enough to be used by anyone. So new Entrepreneurs with fewer accounts to file for or with restricted budgets for additional services can file GST Return for Pvt Ltd Company and other entities themselves with ease. ‘If how’ is the question coming to your mind right now, then the next section is for you.
How To File GST Return Online In Simple Steps?
Step 1
Visit the GST Portal on a browser of your computer- www.gst.gov.in
Step 2
Acquire the GSTIN, which is a 15-digit issued based on the PAN and state code.
Step 3
Upload invoices on the GST software on the portal to receive reference numbers against each of the uploads.
Step 4
After completing all the uploads that includes invoices, inward, outward, and cumulative monthly return, check a final time for possible errors.
Step 5
File Returns.
