The GST Return is basically a document that contains the details of income that a taxpayer is needed to file for the Indian tax administrative authorities. The details are used by the tax authorities for calculating the tax liability. According to the GST laws in India, the listed dealer needs to file for GST returns and incorporate all the details of purchases, sales, the output GST on the sales and Input tax credit, i.e. GST paid on the purchases. In order to file for GST returns online, GST compliant invoices for sales and purchases are required.
According to the new GST regime in India, a regular business owner has to file for three monthly returns as well as one annual return. Therefore it leads to amounts to a total of 37 returns in one single year. When filing for GST return online, a person has to enter the details manually for only one monthly return, i.e. GSTR 1. The details for the other two remaining returns, GSTR 2 and 3 are going to get auto-filled based on the information that has been presented for the GSTR 1 by the business owner and additional vendors. There are also separate returns that are needed to be filed appropriately by various special cases like composition dealers.
Online GST Return filing steps:
Step 1
A taxpayer is going to transfer last GSTR 1 return form specifically either through the information section present at GST Common Portal or through transference of the record containing the GSTR 1 return form via Apps by 10th of the month after the month in which the supplies were made available. The expansion or diminish in supply solicitations are going to be permitted, on the actual premise of points of interest that are transferred by counterparty buyer in the GSTR 2, up to 15th day of the applicable month. The provider cannot incorporate any missing pointers or solicitations after the 10th day of the applicable month. The GSTN will encourage intermittent transfer of all such information to reduce load on the online framework. GSTN will also encourage the disconnected planning of GSTR 1.
Step 2
GSTN or GST Common Portal will auto draft the GSTR 2A. The purchaser can modify GSTR 2A through GSTR 2 and file for the GSTR 2 on or before the 15th day of the month in the succeeding period.
Step 3
The purchasing taxpayer is going to acknowledge/alter/dismiss all auto drafted GSTR 2A. The taxpayer can download the provisional purchase explanation if he chooses to do so from the relevant Portal or through the Apps using the Application Programming Interface and redesign or adjust it even without an online connection.
Step 4
The purchasing taxpayer will have the power to add more purchase receipts points of interest for GSTR 2 which hasn’t yet been transferred by the counter-gathering taxpayer or provider as shown in the above discussed steps, provided he is full in control of the legitimate receipts that are issued by the counter-party taxpayer.