Question: How Many Times Is The Nil GST Return Acceptable?

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..

How do you calculate monthly GST return?

How to compute GST return? This can be done by subtracting the comprehensive GST you have paid on your purchases and expenses (available on the box 14 on your return) from the holistic GST you have received from your sales and income (available on the box 10 on your return).

How do I avoid GST penalty?

Deduct tax/deduct appropriate tax in case of certain specific person (TDS provisions under GST law) at the rate of one per cent out of the payment to the supplier if the value of supply > 2.50 lacs or.deposit the tax deducted with the Government.

How do I claim my GST refund?

Here is a Step by Step Guide to File RFD – 01 on GST Portal:Step 1: Login to the GST portal.Step 2: Go to ‘Services’ > ‘Refunds’ > ‘Application for Refund’Step 3: Select ‘Refund of Excess Balance in Electronic Cash Ledger’ and click on ‘CREATE’.More items…•

How much is GST return per year?

26 returnsIn the GST regime, any regular business has to file two monthly returns and one annual return. This amounts to 26 returns in a year.

What happens if I don’t file my GST return?

If you don’t file any GST return then subsequent returns cannot be filed. For example, if GSTR-2 return of August is not filed then the next return GSTR-3 and subsequent returns of September cannot be filed. Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty (see below).

Can I file nil GST return?

Nil GSTR-1 can now be filed by authorised person of the registered business via SMS as follows: To file nil GSTR-1: Type an SMS ‘NIL(space)R1(space)GSTIN(space)Tax period in MMYYYY’ and send this to 14409. User gets a six-digit code. To confirm the filing: Type an SMS ‘CNF(space)R1(space)Code’ and send this to 14409.

How do I file my nil GST return monthly?

Procedure for Filing NIL GSTR-3B ReturnStep 1: Login to GST Portal. … Step 2: Select the month of filing. … Step 2: Select the month of filing. … Step 3: Select prepare GSTR-3B return. … Step 4: Ensure that all fields are nil in the return. … Step 5: Preview and Submit GSTR3B Return. … Step 5: Accept the return summary.More items…

How do I fill my GST nil 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…•

How do I file GST every month?

How to file GST return online:Visit the GST portal ( 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…•

Is GST filing mandatory?

Return filing is mandatory under GST. Even if there is no transaction, you must file a Nil return. You cannot file a return if you do not file previous month/quarter’s return. Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty.

How do I file my GST nil return without late fee?

If the above return was a return with ‘Nil’ tax liability then late fees would be Rs. 60 (20 per day 3 days). The late fee would be Rs.30 under CGST and Rs.30 under SGST….Amount of Late fees applicable.For Nil Return filersName of the ActLate fees for every day of delaySGST ActRs 10*IGST ActRs 20*1 more row•Nov 13, 2020

How do I file a nil return?

How do I fill up a nil return online?Enter your income details and deductions. Income tax is computed and you will be shown that you have no tax due.Submit your return to the Income Tax Department. And send your ITR-V to CPC Bangalore to complete the e-filing process.

Is GST annual return compulsory?

If the annual turnover exceeds Rs 2 crore, GSTR-9C needs to be filed GSTIN-wise for the particular PAN. For businesses with an annual turnover of less than Rs 5 crore, filing of GSTR-9C for FY 2018-19 has been waived off. 36. … No, it is not compulsory to give HSN code for turnover below Rs 1.5 crore.

How do I get rid of GST late fees?

In such cases If your effective date of cancellation is any other date or current date then you can visit the office of Assessing Officer and ask him to cancel your GST from registration date for saving late fees.

What is the maximum penalty for GST?

25,000 rupeesA penalty of up to 25,000 rupees applies to any offense of the GST law that lacks a specifically prescribed penalty [Sec 125]. Compared to earlier tax laws (i.e., Excise Duty, Service Tax, VAT), the GST tax regime contains a substantial increase in the maximum penalty levied.

How many times do you have to file GST return?

This is known as return and it includes details of every sale and purchase. Under this system of taxation, concerned individuals must file their GST return 26 times in a year. While business owners have to go for goods and services tax filing two times every month, they must also file two additional time half-yearly.

Do I have to file GST 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.

Who is eligible for GST annual return?

You can elect to report and pay GST annually. You can only use this method if you are voluntarily registered for GST. That is, you are registered for GST and your turnover is under $75,000 (or $150,000 for not-for-profit bodies).

How do I file my GST nil return via SMS?

1) In order to initiate the Nil filing, send a SMS to 14409 from registered Mobile Number as NILR1GSTINTax period. For example: NIL R1 09xxxxxxxxxxx1C 062020 (for quarterly return of April-June 2020). 2) Then a Taxpayer will get a six-digit code with validity up to 30 minutes.

Is GST charged on penalty?

A statutory fine or penalty is not subject to GST as there is no supply made in relation to the payment.