All registered individuals, traders, organizations, and companies registered have to furnish the details of their sales and purchases of the goods and services plus the tax paid and collected. Such details are submitted by filing GST Return. This return is a basis on which the tax authorities calculate tax liability. The registered GST user will have to file the return, which includes; purchases, sales, output GST, and input credit of GST. A registered user has to submit 4 forms to file their GST return, which are; return for purchases, return for sale/supplies, monthly return, and annual return.
Eligibility for filing GST Return in Jharkhand:-
In the GST regime, any regular business having more than Rs.5 crore as annual aggregate turnover has to file two monthly returns and one annual return. This amounts to 26 returns in a year. The number of GSTR filings varies for quarterly GSTR-1 filers under QRMP scheme. The number of GSTR filings online for them is 9 in a year, including the GSTR-3B and annual return.
There are separate returns required to be filed by special cases such as composition dealers whose number of GSTR filings is 5 in a year.
Process to File GST Returns Online
All the taxpayers that may vary from manufacturers & suppliers to retailer & consumers, have to file GST returns every year. In the digital era, the government is also pressing pedals towards innovation & automation and has started facilities for e-filing or online filing of GST returns on common GST portal.
- Step 1: Go to GST portal – www.gst.gov.in
- 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.
- Step 4: Once all the invoices, inward, outward return and cumulative monthly return are uploaded, check all the errors and file the returns.
Penalties & late Fee
- Late Fees for not Filing GST Return on Time:–When the GST returns are not filed on time by the taxpayers, a late fee along with interest is imposed on him.
- Late Fees for Annual Return Filing:–INR 200 / day (INR 100 under CGST, SGST and IGST (if relevant) each). The maximum amount of late fee can not be more than 0.25% of the taxpayer’s turnover in the state.
- Late fee for Monthly/Quarterly GST Return Filing:–INR 50/ day (INR 25 under CGST + Rs. 25 under SGST). The maximum amount of late fee can not be more than INR 5,000. And No late fee applicable on IGST
- Interest Applicable on Defaulter:–Interest @ 18% is applicable on the defaulter. Interest is computed by the taxpayer on the amount of tax due for the payment. Interest is computed for the period from the day just after the due date of return filing to the date when tax is paid.
Qus:-Which organizations can get UIN?
- A consulate or embassy of foreign countries
- Multilateral Financial Institutions and Organizations which are notified in the United Nations (Privileges and Immunities) Act, 1947.
- Specialized agencies of the United Nations Organizations
- Any other class of user or person as may be specified by the Commissioner
Qus:-Who is a Composition Taxpayer Under GST?
To provide relief to the small and medium enterprises the government has come up with composition scheme where registered business under composition scheme needs to file GSTR-4 in an annual and GST CMP 08 in every quarter for payment deposition instead of multiple GST returns in a month like normal businesses. There is a criterion for registering under the scheme i.e. the turnover of registering businesses should not be more than INR 1.5 crore.
Qus:-What is GST Return Form 4?
It is for the composition vendors (who are registered under the composition scheme). The form is furnished annually of a particular financial year. Taxpayer files the information of sales and purchases made in an annual and tax paid through GST CMP 08 form under composition scheme on next 18th date of the quarter.
Qus:-Can I file GST return myself?
Under the new GST regime, filing tax returns has become automated. GST returns can be filed online using the software or apps provided by Goods and Service Tax Network (GSTN) which will auto-populate the details on each GSTR forms.