GST Return filing is mandatory for every GST Registered person , Filing of GST Return is main part to carry on business in smooth manner and to avoid non filing penalties. Non Filing of GST Return will make you Non compliant and you have to pay high penalties of Rs. 50 per day for per month return.
Here we will discuss about the present Return that every GST Dealer should file :
Filing of GSTR 3B :
GSTR3B Return contains all the information regarding Taxable and Exempted Supplied made and received by the dealer during the filing period. Like if any taxpayer has to file GSTR 3B Return , He has to fill all the amount of
- Taxable Outward Supplies made and Tax Collected on Invoices
- Zero Rated Supplies (Export and SEZ)
- Exempted Supplies
- Non GST Supply
- Inward Supplies liable to reverse charge
- Input Tax Credit for Purchase of Goods and Services
- Input Tax Credit for Import of Goods and Services
- any other ITC
GSTR 3B is very Important return that is required to be filed by every month before 20th of the Next month , Due date for November , 2019 will be 20th December, 2019
Late Filing Fee : Rs. 50 per day or Rs. 20 per day for NIL return.
Filing of GSTR 1 Return :
GSTR 1 is Return for outward Supplies made by Registered Person, GSTR1 is both monthly and Quarterly return depending upon the turnover of the previous year period.
Following information is required to be filed in GSTR 1 Return :
- B2B Invoices
- B2C Large Invoices
- Credit /Debit Notes Registered
- Credit /Debit Notes unregistered
- Â Export Invoices
- Amended B2B Invoices
- Amended B2C (Large) Invoices
- Amended Exports Invoices
- Amended Credit / Debit Notes (Registered)
- Amended Credit / Debit Notes (Unregistered)
- Adjustments to above
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