Quick Answer: How Many Times A Year Can You File GST Return?

Is Gstr 3b monthly or quarterly?

GSTR-3B is a monthly return.

All regular taxpayers need to file this return till June 2018.

Taxpayers can file their return on GST Portal.

Such quarterly taxpayers would, for the first two months of the quarter, have an option to pay 35% of the net cash tax liability of the last quarter using an auto generated challan..

Who is eligible for quarterly return in GST?

Small taxpayers having aggregate annual turnover of less than Rs 5 crore will be able to file returns on a quarterly basis with monthly payments from January 1, 2021.

Is GST returned monthly or quarterly?

Verifying and determining the e-Filed GST ReturnsChoose the Financial Year, Return Filing Period and Return Type from the drop-down menu.If the taxpayers files the Return Quarterly, choose Quarter from the list.If the taxpayers files the Return Monthly, choose Month from the list.

What is the due date for filing the GST returns?

“In view of the same, on the recommendations of the GST Council, it has been decided to extend the due date for filing Annual Return (Form GSTR-9/GSTR-9A) and Reconciliation Statement (FORM GSTR-9C) for Financial Year 2018-19 from October 31, 2020 to December 31, 2020,” the CBIC said.

How do I get my GST refund?

Here is a Step by Step Guide to File RFD – 01 on GST Portal:Step 1: Login to the GST portal.Step 2: Go to ‘Services’ > ‘Refunds’ > ‘Application for Refund’Step 3: Select ‘Refund of Excess Balance in Electronic Cash Ledger’ and click on ‘CREATE’.More items…•

Is it compulsory to file GST return?

Return filing is mandatory under GST. Even if there is no transaction, you must file a Nil return. You cannot file a return if you do not file previous month/quarter’s return. Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty.

Can I file GST myself?

Every person registered under the GST Act has to periodically furnish the details of sales and purchases along with tax collected and paid thereon, respectively, by filing online returns. Before filing the return, payment of tax due is compulsory otherwise such return will be invalid.

Is GST penalty waived off?

The Central Board of Indirect Taxes and Customs (CBIC) has notified waiver of late free, capping of late fee at Rs 500 in some cases, interest payable on late payments and extension of due dates for businesses to file goods and service tax (GST) returns for the Covid-19 impacted period, till October.

Is Gstr 9 compulsory for all?

Filing of GSTR-9 has been made optional for those with turnover of less than Rs 2 crores, while GSTR-9A, applicable to composition taxpayers, has been done away with. Both these changes are applicable for the first 2 years of GST i.e. FY 2017-18, FY 2018-19.

What documents are required for GST refund?

Document Required – Deemed ExportDeclaration of GST RFD-01 – (Claimed out not exceed ITC)Undertaking as per notification No. … Statement -5B Rule 89(2) (g)Printout of GSTR- 3B/GSTR-3.Print out of GSTR RFD-01 & /ARN.Undertaking of no prosecution Rule 91(i)Undertaking by claimant as per Para 2.0 of circular 24/2017.

How is GST calculated?

GST calculation can be explained by simple illustration : If a goods or services is sold at Rs. 1,000 and the GST rate applicable is 18%, then the net price calculated will be = 1,000+ (1,000X(18/100)) = 1,000+180 = Rs.

Do I need to file GST return every month?

Every registered person paying GST is required to furnish an electronic return every calendar month. A “Tax Return” is a document that showcases the income of a registered taxpayer. Such a document needs to be filed with the tax authorities in order to pay tax to the government.

What if GST return not filed for 6 months?

According to sources, PK Dash, Chairman, CBIC, expressed his displeasure in the progress of cancellation of registration of non-filers who have not filed GSTR 3B (showing tax payments) returns for six or more than six return periods and are liable to action under GST law.

What happens if I dont file GST?

If you don’t file any GST return then subsequent returns cannot be filed. For example, if GSTR-2 return of August is not filed then the next return GSTR-3 and subsequent returns of September cannot be filed. Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty (see below).

How do I avoid GST penalty?

At the time of drafting GST rules, the GST council settled not only on the tax rates on goods and services but also on the penalty on late payments for GST….Penalty on Wrong GST Credit Use.Payment TimePenalty AmountWithin 30 days of issuance of show cause notice25% of the due tax amount3 more rows

How do I claim an individual GST refund?

There is an Official Refund Process under the GST:An Application form to claim a refund can be filed through the GSTN portal.An acknowledgement number will be given to the applicant by the means of SMS or email when the application is filed electronically.More items…•

How do I file my GST return every month?

Step by Step to file the GST return online are as follows: Step 2: Obtain a 15-digit GSTIN (GST identification number) which will be issued based on your state code and PAN. Step 3: Upload the relevant invoices on the software or the GST portal. An invoice reference no. against each invoice will be allotted to you.

How do I skip late fee for GST?

In such cases If your effective date of cancellation is any other date or current date then you can visit the office of Assessing Officer and ask him to cancel your GST from registration date for saving late fees.