GST Return Filing in India

Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services across India. It was introduced on 1st July 2017 to replace multiple indirect taxes such as VAT, Service Tax, Excise Duty, Luxury Tax, and Entertainment Tax.

GST simplifies the tax structure, eliminates cascading taxes, and ensures transparency in business transactions. Every GST-registered business is required to file regular returns, which are statements of sales, purchases, and tax liabilities.

Filing GST returns accurately and on time is critical for businesses to maintain compliance, claim input tax credit (ITC), and avoid penalties. At Taxation Point India, we provide expert assistance for smooth and error-free GST return filing.

What is a GST Return?

A GST Return is a statement filed by GST-registered businesses that records details of sales, purchases, tax collected (output GST), and tax paid (input GST). Filing returns is mandatory for every GSTIN holder and enables tax authorities to calculate your tax liability.

Key elements of GST Returns include:

• Purchases – Goods and services procured.
• Sales – Outward supplies made.
• Output GST – GST charged on sales.
• Input Tax Credit (ITC) – GST paid on purchases, claimable against output GST.

Who Should File GST Returns?

• Businesses exceeding the prescribed annual turnover threshold.
• Entities registered under the regular or composition scheme.
• E-commerce operators, non-resident taxpayers, and input service distributors.

Filing must be done before the due date to avoid penalties, late fees, and interest charges.

Types of GST Returns

• GSTR-1 – Statement of outward supplies (sales).
• GSTR-3B – Monthly summary of sales, purchases, ITC, and tax liability.
• GSTR-4 – Annual return for Composition Scheme taxpayers.
• GSTR-5 – For non-resident taxpayers.
• GSTR-5A – For OIDAR service providers.
• GSTR-6 – For Input Service Distributors.
• GSTR-7 – For TDS deductors under GST.
• GSTR-8 – For e-commerce operators reporting TCS.
• GSTR-9 & 9C – Annual returns for regular taxpayers.
• GSTR-10 – Final return upon cancellation of GST registration.
• GSTR-11 – For taxpayers with a Unique Identity Number (UIN).
• CMP-08 – Quarterly return for Composition Scheme taxpayers.
• ITC-04 – For manufacturers reporting job work transactions.
• GSTR-2A & 2B – Auto-generated returns for ITC reconciliation.

Documents Required for GST Return Filing

• GSTIN (Goods and Services Tax Identification Number)
• Sales invoices (with HSN/SAC codes, GST charged, and customer details)
• Purchase invoices (with supplier GSTIN and GST paid details)
• Credit notes and debit notes issued during the period
• Details of outward supplies (B2B, B2C, exports)
• Details of inward supplies (purchases, imports, expenses)
• Input Tax Credit (ITC) records
• E-way bills generated (if applicable)
• Bank statements for verification of transactions
• TDS/TCS details under GST (if applicable)

Penalty for Late GST Filing

• Late Fees: ₹100 per day under CGST + ₹100 per day under SGST (maximum ₹5,000).
• Interest: 18% per annum on outstanding tax liability.
• Restriction: Subsequent returns cannot be filed until pending ones are cleared.

Why Choose Taxation Point India for GST Return Filing?

• ✔ Dedicated GST Advisor – Personalized guidance for timely and accurate filing.
• ✔ Timely Reminders – Alerts to ensure you never miss a deadline.
• ✔ Monthly Compliance Reports – Transparent updates on your GST filings.
• ✔ Error-Free Filing – Invoices and ITC reconciled before submission.
• ✔ Cloud-Based Records – Secure digital records of invoices and returns.
• ✔ End-to-End Support – From invoice management to final filing.

By outsourcing GST compliance to Taxation Point India, you can focus on business growth while we handle invoice management, ITC reconciliation, tax calculation & payment, and GST return preparation & filing.

Stay compliant, avoid penalties, and ensure peace of mind with Taxation Point India’s GST Return Filing Services.