GST Return
April 23, 2020

Which GST Returns businesses should file regularly

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
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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Which GST Returns businesses should file regularly