GST Filing in India: Complete Guide for Beginners

Introduction to GST Filing

India's biggest tax reform is GST. If you have registered GST for your business, then you are required to file GST on regular basis. This means that your business's sales, purchases and tax information have to be filed on the GST portal.

When beginners file GST in the beginning, it seems a bit complicated, but as soon as the process is understood, it starts to seem simple. Whether you are doing business in any field such as small business owner, startup or freelancer, it is very important to file GST on time after GST is registered.

Why GST Filing is Important

There are many benefits of filing GST, it is not just a formality:

• Legal compliance - This makes the registered business compliant with Indian tax laws.
• Input Tax Credit (ITC) - The GST tax that you pay on the purchase from GST filing can also be claimed.
• Save Penalty - GST return filing should be filed on time, if it is not filed on the due date, then heavy fines and penalties are also imposed.
• Business Growth - If GST filing is done on a regular and proper basis, trust is built with clients and investors.
• Transparency - The transparent tax system is maintained for the government.

Therefore, if you are not filing GST returns, ignoring them, then late fees and penalties on business and restrictions in operations can also be imposed.

Types of GST Returns

GST return forms are different for every tax payer:

• GSTR-1 - Sales (Outward Supplies) Sale is reported in this form.
• GSTR-3B - It contains a summary of sales, purchases, tax liability in the monthly return. In this, tax is paid to the government.
• GSTR-9 - Annual returns are filed in this form for regular taxpayers.
• GSTR-4 - This form is for taxpayers with the composition scheme.
• GSTR-9C - This is an audited return for large businesses.

You should know that when you are filing a return, then which return form will be there. Which GST return will have to be kept in mind for your business.

Basic Requirements for GST Filing

Before filing GST, there are a few things that should be done together:

• Valid GSTIN (GST Identification number)
• Login Access to GST Portal (www.gst.gov.in)
• Complete record of sales and purchases of the business
• Full details of how much tax has been collected and how much has been paid.
• Payment option through Net Banking/Debit Card/NEFT (used to pay tax to the government)
• When the documents and information are ready, the filling process is also easy.

Step-by-Step Filing Procedures

Here is a step-by-step process for GST filing:

1. First of all, login to the GST portal with GSTIN and password.
2. As soon as you login, you have to select the return dashboard and choose the year and filing period.
3. After this, you will have to select the pending GST return type such as GSTR-1, GSTR-3B, etc.
4. Then you have to enter sales, purchase and tax details.
5. Verify complete data before submitting.
6. After verifying the data, if the tax is being generated, then tax will have to be paid, which is net banking/debit card. It will be done by debit card.
7. After paying, the return has to be submitted and the acknowledgement has to be downloaded.

Common Mistakes to Avoid

• Many times, people make some common mistakes while filing GST, then those common mistakes should be avoided so that there is no penalty and GST filing is done correctly.
• Wrong GSTIN number. Or enter the invoice number.
• Do not file GST returns before the due date.
• Not reconciling sales and purchase data while filing GST
• By claiming ITC more without bills.
• If there are no sales and purchase in the business, then do not file a nil return.
• If you do GST return filing carefully at the time, then unnecessary loss and penalty can be avoided.

FAQ for GST Filing

Q1. What is GST Filing?

Submitting sales, purchases, and tax details on the GST portal is GST filing.

Q2. For whom is GST filing mandatory?

It is mandatory for every GST-registered business, whether there is sales or not.

Q3. What is the due date for GST return?

The due date of monthly GSTR-3B is 20th, 22nd or 24th (state wise).

Q4. How to Check GST Filing Status?

You can check the status by entering ARN or GSTIN by logging in to the GST portal.

Q5. What are the documents required to file GST returns?

GSTIN, sales-purchase invoices, credit/debit notes, and bank details.

Q6. How much is the penalty if the due date is missed?

₹50 per day (₹20 per day for Nil return) + 18% annual interest.

Q7. What is the process of filing GST returns?

Login → Return select karo → Data enter karo → Tax pay karo → Submit.

Q8. How to Login to GST Portal?

Login by entering GSTIN/username + password on the www.gst.gov.in.

Q9. How is Nil GST Return Filed?

Login to the portal and choose the return form, tick "Nil Return" and submit.

Q10. How to File GST Return Online?

Login to the portal and fill in the step-by-step details and download the acknowledgement.

Conclusion

If we see, GST filing is a mandatory process for every GST-registered business. But if you have good information about the GST filing process, common mistakes, then it can be done easily.

Always filing GST on time will not take a penalty, and ITC claim will also be easily made business transparent. It may also be necessary for beginners to seek professional help as legaldev.in can be the best option for you.

GST return filing is not just a rule; it is a step that makes the business trustworthy and successful.

Timely GST filing is crucial for every business. LegalDev makes the process simple, accurate, and stress-free.