What is GST –
A GST return is an official record that includes information about all purchases, sales, taxes paid on purchases, and taxes received on sales. Following the submission of the GST returns, the person must settle their tax debt.
GST Registration –
Under Goods And Services Tax (GST), businesses whose turnover exceeds the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh as the case may be, must register as a normal taxable person. It is called GST registration.
For certain businesses, registration under GST is mandatory. If the organization carries on business without registering under GST, it is an offence under GST and heavy penalties will apply.
GST registration usually takes between 2-6 working days. Team Clear can help you obtain GST registration faster in 3 easy steps.
GST registration can be obtained on the GST portal. One must apply for GST registration in Form REG-01 on the GST portal.
However, the GST registration services at ClearTax helps you to get your business GST registered and obtain your GSTIN.
Clear GST experts will guide you on the applicability and compliances under GST for your business and get your business registered under GST.
Who should file GST Returns?
GST returns has to be filed by all the business entities who are registered under the GST system. The filing process has to be identified on the basis of the nature of the business.
The registered dealer who part of the following activities needs to file a GST return:
- Sales
- Purchase
- Output Goods and services tax (on Sales)
- Input Tax Credit with GST paid on the purchase
How to File GST Return Online
The businesses registered under GST have to file returns monthly, quarterly and annually based on the category of business through the Government of India’s GST portal. They have to provide the details of the sales and purchases of goods and services along with the tax collected and paid.
Implementation of a comprehensive Income Tax system like GST in India will ensure that taxpayer services such as registration, returns, and compliance are transparent and straightforward. Individual taxpayers will be using 4 forms for filing their GST returns such as the return for supplies, return for purchases, monthly returns, and annual return. Small taxpayers who have opted for a composition scheme will have to file quarterly returns. All filing of returns will be done online.
Step 1: Visit the GST portal (www.gst.gov.in).
Step 2: A 15-digit GST identification number will be issued based on your state code and PAN number.
Step 3: Upload invoices on the GST portal or the software. An invoice reference number will be issued against each invoice.
Step 4: After uploading invoices, outward return, inward return, and cumulative monthly return have to be filed online. If there are any errors, you have the option to correct it and refile the returns.
Step 5: File the outward supply returns in GSTR-1 form through the information section at the GST Common Portal (GSTN) on or before 10th of the following month.
Step 6: Details of outward supplies furnished by the supplier will be made available in GSTR-2A to the recipient.
Step 7: Recipient has to verify, validate, and modify the details of outward supplies, and also file details of credit or debit notes.
Step 8: Recipient has to furnish the details of inward supplies of taxable goods and services in GSTR-2 form.
Step 9: The supplier can either accept or reject the modifications of the details of inward supplies made available by the recipient in GSTR-1A.
How to Check GST Returns Status?
The official GST Login Portal allows you to check the status of your GST Returns. There are 3 different methods for the same. The methods are as follows:
- Tracking the status using the ‘Return Filing Period’ option
- Tracking the status using the ‘ARN’ option
- Tracking the status using the ‘Status’ option
Tracking the status using the ‘Return Filing Period’ option
- Step 1: Use your credentials to log in to the online GST portal at https://www.gst.gov.in/.
- Step 2: Click on the ‘Services’ tab from the top menu.
- Step 3: Navigate to ‘Track Return Status’ under the ‘Returns’ option.
- Step 4: Select the ’Return Filing Period’ option.
- Step 5: In the next page, select the financial year and the return filing period from the respective drop-down boxes.
- Step 6: Click on the ‘Search’ button and the status of the GST Return will be displayed on your screen.
Tracking the status using the ‘ARN’ option
- Step 1: Use your credentials to log in to the online GST portal at https://www.gst.gov.in/.
- Step 2: Click on the ‘Services’ tab from the top menu.
- Step 3: Navigate to ‘Track Return Status’ under the ‘Returns’ option.
- Step 4: Select the ’ARN’ option.
- Step 5: Enter the ARN in the field provided.
- Step 6: Click on the ‘Search’ button and the status of the GST Return will be displayed on your screen
Tracking the status using the ‘Status’ option
- Step 1: Use your credentials to log in to the online GST portal at https://www.gst.gov.in/.
- Step 2: Click on the ‘Services’ tab from the top menu.
- Step 3: Navigate to ‘Track Return Status’ under the ‘Returns’ option.
- Step 4: Select the ’Status’ option.
- Step 5: Select the Status of Return that you are looking for from the drop-down box.
- Step 6: Click on the ‘Search’ button and the status of the GST Return will be displayed on your screen.
