GST Return Filing Made Easy by EzyBiz India

As everybody knows GST have become a reality in India and from August onwards, every registered person who has taken GST registration would be required to file GST return. Every month 3 GST returns is required to be filed i.e first for outward supply by 10th of next month in form GSTR1 , second for inward supply by 15th of next month in form GSTR2 and third for combined return by 20th of next month in form GSTR3 ( monthly GST return Filing ). Also, an annual return is required to be filed on or before 31st December.

However, some relaxation in return filing has been provided for month of July and August 2017 wherein GSTR1 and GSTR2 filing date has been postponed to September for both month of July and August and a simple return in form of GSTR3B needs to be filed for month of July before 20th August.

It may be noted that there is threshold limit for taking GST registration like Rs 20 lac in case of local inward and outward supplies (intrastate) and Rs 10 lac for states in North east and Hilly states, however, once you have taken GST registration either voluntary or due to mandatory requirement, you have to file GST return even if there is NIL or no transactions. Noncompliance will lead to interest and penalty.

Normally, 2 to 3 working days are taken in analysis of documents and preparation and filing of GST return.

It is very important to maintain your books and invoices on real time basis instead of postponing to month end or yearend as this will be very fatal exercise and will not help in correct and timely filing of GST return.

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    Different types of GST Returns and its Due Dates

    Return FormDescriptionDue Date of filing
    GSTR-1 Details of outward supplies of taxable goods or services or both effected 10th of Next Month
    GSTR-2 Details of inward supplies of taxable goods or services or both claiming input tax credit After the 10th but before 15th of Next Month
    GSTR -3 Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of amount of tax 20th of Next Month
    GSTR-4 Quarterly Return for compounding taxable persons 18th from end of the Quarter
    GSTR-5 Return for Non-Resident foreign taxable persons 20th from end of the month or within 7 days after the last day of validity of registration whichever is earlier
    GSTR-6 Input Service Distributor return 13th of Next Month
    GSTR-7 Return for authorities deducting tax at source 10th of Next Month
    GSTR-8 Details of supplies effected through e-commerce operator and the amount of tax collected as required under sub-section (52) 10th of Next Month
    GSTR-9 Annual Return 31st December of Next Financial Year
    GSTR-9A Simplified Annual return by Compounding taxable persons registered under section 10 31st December of Next Financial Year

    List of Information Required for Filing GST Returns

    • Copy of invoices raised during the month
    • GST Registration no.
    • User id and password for login
    • Name and address of registered person
    • Detail of Outward Supplies and Inward supplies liable to reverse charges
    • details of inter-State supplies made to unregistered persons
    • Supplies made to Composition Taxable Persons
    • Supplies made to UIN Holders
    • Details of Eligible ITC
    • Values of exempt, nil-rated and non-GST inward supplies
    • Copy/receipt of GST deposited
    • Copy of TDS/TCS certificate

    Steps Involved in GST Return Filing

    Step1   Collation of Information– Clients send us data in prescribed format. We analyze data and ask for further information/ documents. On basis of information, do tax computation and send to client for deposit of taxes Step 2 Preparation of GST return – GST return is prepared by staff and review by expert before sending to client for his approval Step 3 Filing of GST return – Once client approves the return, we upload the same on portal. At EzyBiz India we would be happy to assist in preparation and filing of GST return. For any query relating to GST advisory and compliance or free consultation, kindly call us for fixing an appointment. We would be happy to serve you.

    Procedure of Applying for GST Refund

    In order to apply for GST refund, proper procedure needs to be followed. In this article, we will touch base upon process of GST refund. It requires of 2 way process.

    GST refund Process

    • First of all, for GST refund, an online application needs to be filed in Form RFD-01 duly certified by Chartered Accountant.
    • Such application in form RFD-01 need to be filed within 2 years from the end of relevant date. Relevant date is different in case of different situations. Like in case of export by air, sea, vehicle, post office, relevant date is date when such transport leaves India etc. In most of the cases, relevant date would be date of payment of taxes. In case, refund claim is not made in time, it will lead to blockage of credit.
    • On filing form RFD-01, an acknowledgement would be generated in form RFD-02 and send by mail and sms. The tax payer need to take note of such acknowledgement since same would be require to be submitted with GST department in hard copy.
    • In case there is any mistake or discrepancy in refund application, then system will generate form RFD-03 and send to taxpayer for correction. Here, tax payer need to rectify all the mistakes and refile online application
    • After filing online application, acknowledgement will be generated. Now, following documents need to be submitted to department for obtaining GST refund:
    1. ARN Receipt of Application filed for GST Refund.
    2. Copy of GST RFD-01 A, filed Online
    3. Copy of GSTR-1
    4. Copy of GSTR-3B
    5. Copy of Sales Bills, Shipping bill & BRC.
    6. Purchase Bill of goods exported
    7. Bank Statement for the period.
    8. Copy of Self Declarations and Undertakings
    9. Trading Account for the period

    It may be noted that lot of declaration also need to be prepared and filed along with copy of application and other documents mentioned above.

    • On receipt of all the documents, department would process the refund application and as per rules, it need to process within 30 days of receipt of refund application. In case of large refunds, same are also subject to audit process. In case after analyzing the documents, it is found to be in order, refund order would be issued. However, in case of any discrepancy, tax payer would be asked to rectify the defects. In case, in view of department, refund is not eligible since there is case of “unjustly enriching” the taxpayer, then the amount shall be transferred to the Consumer Welfare Fund.
    • On being satisfied in all aspects, the tax officer will issue final GST refund order in form RFD-05 within 60 days from the date of application.
    • In case, aforesaid officer fails to pass an order within said 60 days, then the taxpayer will also be eligible for an interest @ 6% p.a. for the period exceeding the expiry of 60 days until the receipt of refund.

    Above completes the process of GST refund in India. We at Ezybiz India Consulting LLP, through our team of experts like chartered accountants, company secretaries and finance professionals provide complete solution for GST refund.

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