Quick Answer: Is It Compulsory To File GST Return?

What happens if you dont pay GST?

If you can’t pay your GST by the due date, you should contact the ATO as soon as possible on 13 28 61.

It’s important that you speak with the ATO as soon as possible, as you may be charged penalties including interest if you fail to pay on time..

How do I surrender GST?

How to Surrender your GSTINStep 1: Login into your account on GST.GOV.IN.Step 2 : Go to Services >> Registration >> Application for Cancellation of Registration.Step 3: Fill the address for future communication or select the option of Address same as above and then go to Cancellation Details tab.More items…

How do I fill out GST every month?

How to file GST return online:Visit the GST portal (www.gst.gov.in).A 15-digit GST identification number will be issued based on your state code and PAN number.Upload invoices on the GST portal or the software. … After uploading invoices, outward return, inward return, and cumulative monthly return have to be filed online.More items…•

What is the penalty for not filing GST return?

The law has fixed a maximum late fees of Rs 5,000. This means that in any case, the maximum late fees that can be charged by the Government is Rs 5,000 each return being filed under each Act. The law has fixed a maximum late fees of Rs 5,000.

Do we have to file nil GST return?

Nil GSTR-1 return must be filed by all registered taxpayers compulsorily when there are no sales or supplies during the month or quarter.

Can I fill 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.

What if GST return not filed for 6 months?

According to sources, PK Dash, Chairman, CBIC, expressed his displeasure in the progress of cancellation of registration of non-filers who have not filed GSTR 3B (showing tax payments) returns for six or more than six return periods and are liable to action under GST law.

What happens if you dont file GST?

An offender not paying tax or making short payments must pay a penalty of 10% of the tax amount due subject to a minimum of Rs. 10,000. Consider — in case tax has not been paid or a short payment is made, a minimum penalty of Rs 10,000 has to be paid. The maximum penalty is 10% of the tax unpaid.

How do I file a zero GST return?

The following is a step-by-step guide to file such a return:Step 1: Log in to the GST portal and select the GSTR-3B return.Step 2: Select Nil Return of GSTR-3B.Step 3: Preview Nil GSTR-3B and confirm through a declaration.Step 4: Choose either DSC or EVC to proceed to file.More items…•

What is annual return of GST?

GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. Points to note: It consists of details regarding the outward and inward supplies made/received during the relevant financial year under different tax heads i.e. CGST, SGST & IGST and HSN codes.

Who needs to file GST returns?

GST returns must be filed by every business units whose turnover exceeds 20 or 40 lakh (Optional) annually. Taxpayers are also supposed to go through various eligibility criteria for different slabs.

Is it mandatory to file GST return every month?

Every registered person paying GST is required to furnish an electronic return every calendar month. A “Tax Return” is a document that showcases the income of a registered taxpayer. Such a document needs to be filed with the tax authorities in order to pay tax to the government.

What if Gstr 10 is not filed?

If a taxpayer fails to file final GST Return, then a notice for not filing the final return will be sent to that registered person. Later, the taxpayer would be provided a 15 days period for filing the return along with all the documents.

How do I file a GST without a late fee?

Scheme for reduction of Late fee under GST:Such relief is available only for Form GSTR3B.No Late fee in case of Nil return.Scheme applies to all returns pertaining to the period July 2017 to July 2020 when filed between 1st July, 2020 and 30th September, 2020.Maximum late fee is capped at Rs.

What is the minimum turnover for GST?

A business whose aggregate turnover in a financial year exceeds Rs 20 lakhs has to mandatorily register under Goods and Services Tax. This limit is set at Rs 10 lakhs for North Eastern and hilly states flagged as special category states. Also, the definition of taxable turnover has been changed to aggregate turnover.