GST filing is the process for buyers and suppliers to submit their GST returns to the Indian tax department, detailing their income for tax liability calculations. Regular businesses must file various types of GST returns on a monthly or annual basis, depending on their turnover and filing method. A new GST return system is set to simplify the process starting October 2020, consolidating existing forms and enhancing compliance and efficiency.

1. GST Filing

2. What is GST Filing?
GST Filing is the process by which buyers and
suppliers file their GST returns to the IT Department of
the Indian government. A GST return is essentially a
document that contains details regarding the
taxpayer's income that helps IT officials calculate their
liability for a particular period.
Registered GST dealers have to file GST returns for
purchases, sales, Output GST, and Input Tax Credit. To
complete the GST filing, dealers require compliant
sales and purchase invoices. Read on to find out more
about GST Filing, why it’s important and how to get it
done.

3. Frequency of GST Filing
Under the GST regime, all regular businesses
have to file the following GST returns;
● Two monthly GST returns
● One Annual return
In total, this amounts to 2 returns every year.
For people who file their GST returns on a
quarterly basis, there will be 17 returns to file
every year. Furthermore, for dealers who have
opted for the composition scheme, the
number of returns to be filed is much lower, at
five per year.

4. Types of GST Returns
1. GSTR-1 Details regarding outward supplies (Monthly/Quarterly)
2. GSTR-3B Summary of outward supplies and ITC declared (Monthly)
3. CMP-08 Statement-cum-challan for dealers under composition scheme
(Quarterly)
4. GSTR-4 Return for dealers under composition (Annually)
5. GSTR-5 Return for foreign taxable individual (Monthly)
6. GSTR-6 Return for input service distributors (Monthly)
7. GSTR-7 Return for government bodies deducting TDS (Monthly)
8. GSTR-8 Details of e-commerce supplies and amount collected (Monthly)
9. GSTR-9 Return for ordinary taxpayer (Annually)
10. GSTR-9A Return for dealers under composition levy (Annually)
11. GSTR-9C Statement to certify reconciliation (Annually)
12. GSTR-10 Final return after GST cancellation (Once)
13. GSTR-11 Details regarding inward supplies for claiming refund
(Monthly)

5. Documents Required for Registration
1. List of all B2B invoices
2. List of all B2C Invoices
3. Intra-state sales and GST rates
4. E-commerce related Intra-state sales
5. Inter-state sales and GST rates
6. E-commerce related inter-state sales
7. Export bill details
8. HSN wise summary of all goods
9. Summary of documents issued
10. Summary of debit and credit notes,
advance receipt and amendments

6. GST Filing Procedure
1. Register under the GST regime and obtain a valid GSTIN.
2. Go to the official GST Portal.
3. Go to Services>>Returns
4. Next, input details of your assessment year and return filing
period.
5. Select which return to file and click on Prepare online.
6. Input all the required information and upload required
invoices.
7. Click on Save and double-check everything entered.
8. Click on Submit from the bottom of the page.
9. Next, click on Payment of Tax and check to see your cash
and credit balance.
10. Lastly, choose between File form with DSC or EVC and
make the payment to complete the process of GST Filing.

7. GST Filing Due Dates
GSTR-1 Quarterly if your turnover exceeds INR 1.5 cr (extensions due to COVID-19)
1. 1st Quarter - 30th April - (17th July 2020)
2. 2nd Quarter - 31st July - (3rd August 2020)
3. Third Quarter - 31st October - (31st October 2020)
Monthly Less than 1.5 Cr turnover (Extended date due to COVID-19)
1. January - 11th February - (11th February 2020)
2. February - 11th March - (11th March 2020)
3. March - 11th April - (10th July 2020)
4. April - 11th May - (24th July 2020)
5. May - 11th June - (28th July 2020)
6. June - 11th July - (5th August 2020)
7. July - 11th August - (11th August 2020)
8. August - 11th September - (11th September 2020)
9. September - 11th October - (11th October 2020)

8. GST Filing Due Dates
CMP-08 (Quarterly)
1. 1st Quarter (Jan-March) - 7th July 2020
2. 2nd Quarter (Apr-June) - 18th July
3. Third Quarter - (Ju-Sept) - 18th October
GSTR-4 filing due date for 2019-20 has been extended to 15th July,
2020.
GSTR-5 and GSTR-5A (Monthly)
● January - 20th February
● February - July - 31st August
● August - 20th September
● September - 20th October

9. GST Filing Due Dates
GSTR-6 (Monthly)
● January - 13th February
● February - 13th March
● March - July - 31st August
● August - 13th September
● September - 13th October
GSTR-7 and GSTR-8 (Monthly)
● January - 10th February
● February - 10th March
● March - July - 31st August
● August - 10th September
● September - 10th October

10. Things To Know About New GST Filing System
● The GST council has decided to introduce a new Return
System for GST.
● This new system will come into effect from October 2020.
● The new system will greatly simplify the process of GST filing
by getting rid of several old returns.
● It will comprise of a main return called GST RET-1 and 2
annexures called, GST ANX-1 and GST ANX-2.
● Most of the GST filing will now be on a monthly basis,
removing redundancies and confusions of the present
system.
● As a result GSTR -1,GSTR-4, GSTR-5, GSTR-6, GSTR-7
and the rest will now become void.
● The new system will also allow the filing of missing invoices
through an Amendment Return

11. Benefits of GST Filing
1. Helps your company maintain compliance
2. Stay on the right side of the law and avoid
legal hassles
3. Improves your company’s credibility and
trustworthiness
4. Betters your capacity to attract more
customers
5. Essential to carry out business operations in
an efficient and timely fashion

12. Why Vakilsearch?
● We provide quality service at the most affordable prices
● Have over 4,00,000 satisfied clients and the number only grows
● Truly digital services that make things easy for both you and us
● We offer advice on how to apply, and handle all the paperwork
● Constant updates until the registration is complete
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