Who can file a GST return?

Any individual, business, or entity registered under GST is required to file GST returns. This includes regular taxpayers, composition scheme taxpayers, Input Service Distributors (ISD), Non-Resident Taxable Persons (NRTP), and others who are liable to pay GST.

What are the types of returns under GST?

There are various types of returns under GST, some of the common ones are: a. GSTR-1: Monthly statement of outward supplies. b. GSTR-3B: Monthly summary return to declare GST liability and pay taxes. c. GSTR-4: Quarterly return for composition scheme taxpayers. d. GSTR-9: Annual return providing a summary of transactions during the financial year.

What is the benefit of GST return?

GST returns serve as a mechanism to report the details of sales, purchases, and taxes paid. Filing GST returns ensures compliance with tax laws, facilitates claiming input tax credit, and enables the government to track taxable transactions, leading to a more transparent and efficient tax system.

What is the monthly return of GST?

GSTR-1 and GSTR-3B are the two primary monthly returns under GST. GSTR-1 is used to report outward supplies, while GSTR-3B is a summary return used to declare the tax liability and make payments.

Do you need a CA for GST filing?

Hiring a Chartered Accountant (CA) for GST filing is not mandatory, but it can be beneficial for businesses with complex transactions or those seeking professional guidance to ensure accurate and compliant GST filings.

What is the filing period for GST?

Generally, GST returns are filed on a monthly basis. However, there are specific returns like GSTR-4 (composition scheme) and GSTR-9 (annual return) that have different filing periods.

Is the GST filing monthly or quarterly?

For most taxpayers, GST filing is done on a monthly basis. However, certain taxpayers, such as those under the composition scheme, file returns on a quarterly basis.

Is monthly GST return mandatory?

Yes, monthly GST return filing is mandatory for most regular taxpayers. They need to file GSTR-1 and GSTR-3B on a monthly basis.

What are the GSTR-1 and GSTR-3B due dates?

The due date for GSTR-1 is the 11th of the following month, while the due date for GSTR-3B is the 20th of the following month.

Is GST paid on profit?

No, GST is not based on profit. It is a consumption-based tax levied on the supply of goods and services.

Can I get a GST refund of more than 2 lakhs?

Yes, eligible taxpayers can claim a GST refund exceeding Rs. 2 lakhs. However, such refunds require proper documentation and compliance with the GST laws.

How do I file a zero return in GST?

To file a zero return in GST, taxpayers need to log in to the GST portal and fill in the relevant details in the respective return forms (e.g., GSTR-1 or GSTR-3B) showing nil or zero-rated supplies and liabilities.

Does GST have to be paid monthly?

No, GST does not have to be paid monthly. The frequency of GST payments depends on the turnover of the business. Businesses with a turnover of up to₹ 1.5 crores are required to file GST returns quarterly. Businesses with a turnover of more than₹ 1.5 crores but less than₹ 5 crores are required to file GST returns monthly. Businesses with a turnover of more than₹ 5 crores are required to file GST returns on a monthly basis.

Is CA required to file GST returns?

It is not mandatory to hire a CA to file GST returns. However, it is advisable to consult with a CA if you are unsure about how to file your GST returns or if you have complex GST transactions.

Can I file my own GST returns?

Yes, you can file your own GST returns. The GST portal provides a user-friendly interface for filing GST returns. You can also use a GST return filing software to file your GST returns.

What is the time limit for GST return rectification?

The time limit for GST return rectification is one year from the due date of filing the return.

Who needs to submit GSTR-4?

GSTR-4 is a quarterly return that is required to be filed by businesses that supply goods or services through electronic commerce operators (ECOs).

What is a tax invoice?

A tax invoice is a document that is issued by a registered taxpayer to a recipient upon the supply of goods or services. A tax invoice must contain certain mandatory information, such as the GST number of the supplier and recipient, the description of the goods or services supplied, the value of the supply, and the amount of GST charged.

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