Self Filing GST Online
Depending on the type of business, all licensed companies must file a weekly, quarterly, or annual GST return. Many of these GSTR filings are completed electronically via the GST site.
The Goods and Services Tax (GST) is an indirect tax that went into effect in India on July 1st, 2017. The filing of taxes via GSTR forms in accordance with the slabs and qualifying requirements is known as GST return. A return is a report which includes details about a taxpayer's income that must be submitted to the tax authorities.
GST-compliant sales and purchase invoices are allowed to file GST returns or GST filing. Tax regulators use this to measure tax liability. A licensed dealer is required by GST to file GST returns that include transactions, sales, production GST (on sales), and input tax credit (GST paid on purchases).
Who is required to file GST Returns?
Under the GST regime, any routine company with an annual gross turnover of more than Rs.5 crore must file two monthly returns and one annual report. In a year, this equates to 26 returns. The number of GSTR filings varies for quarterly GSTR-1 filers under the QRMP system. They have 9 GSTR filings online each year, including the GSTR-3B and annual return.
Unique cases, such as composition distributors, must file additional returns, for a maximum of five GSTR filings each year.
How do I apply GSTR Return online?
The below is a step-by-step guide to filing a GST Return online:
- Go to the GST website (www.gst.gov.in).
- Based on your state code and PAN number, you will be assigned a 15-digit GST ID number.
- Further to the upload of invoices, the outward return, inward return, and cumulative monthly return must be filed online.
- Outward supply returns in the GSTR-1 form must be filed by the tenth of the following month via the information section of the GST Common Portal (GSTN).
- If there are any mistakes, you should correct them and resubmit the returns.