Online GST Return Filing in Mumbai

GST or goods and services tax return filing is an important compliance part for any business that is under the GST regime. The Online GST Return Filing involves reporting the details of the sales, the purchases and the government tax payments. The GST Return Filing In Mumbai involves filling in several forms like the GSTR-1 for the outward supplies, the GSTR-38 for the monthly sale and purchase summary and the GSTR-9 to file the annual return. The businesses have to make sure that the transactions are reported correctly. The tax liabilities and input tax credits have to be filed correctly to avoid any kind of penalty and to maintain compliance. The process of Online GST Return Filing filing allows reconciliation between the records of the taxpayer and the tax authorities. The GST Return Filing In Mumbai offers transparency and accountability in the tax system. The GST return filing differs based on the taxpayer type whether one is a regular taxpayer, an input service distributor or a composition scheme dealer. Each has its own deadline and requirements. It is important to file the GST return accurately and timely for the business to maintain its smooth operation and to avoid any legal penalty.

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What is GST Return Filing?

The Online GST Return Filing is a process in which the business reports their sale, purchases and tax payments to the government. This is done under the gods and service tax regime. The taxpayer has to submit various forms like the GSTR-1, GSTR-3B and the GSTR-9. Accurate reporting is important to comply with the tax regulations and to help in the reconciliation of the taxpayers’ records with the government data. This will avoid any penalty and ensure the smooth running of the business.

Who is required to file a GST Return?

The entities that are registered under the GST system have to do the Online GST Return Filing. This includes several taxpayer categories like the regular taxpayer the composition scheme dealers the input service distributors and the e-commerce operators. The regular taxpayers are the businesses which have a turnover that exceeds the threshold prescribed. The composition scheme dealers can opt for a simplified tax payment scheme. The input service distributors need to file the monthly return to distribute the input tax credit. The commerce operators should file the returns detailing the supplies made by the platform. The non-resident taxpayers, the tax deductors and the tax collectors also have some specific return filing obligations as per the GST law.

Types of GST Returns under New GST Law

There are several kinds of GST returns that cater to the varied categories of taxpayers and their needs for reporting.

01The GSTR-1

Is a monthly return to report the outward supply of goods and services by regular taxpayers.

02The GSTR-3B

Is a monthly summary return that summarises the sales, and details tax payments and purchases by regular taxpayers.

03The GSTR-4

Is a quarterly return for scheme dealers to report their tax liability and quarterly turnover.

04The GSTR-5

Is a monthly return for taxpayers who are non-residents and provides details of their inward and outward supplies.

05The GSTR-6

Is a monthly return that is filed by the incur service distributor to distribute the input tax credit among the units.

06The GSTR-7

Is a monthly return for the tax deductors to report the details of the tax deducted at source.

07The GSTR-8

Is a monthly return that is filed by e-commerce operators to report the supplies that are made through the platform.

08The GSTR-9

Is an annual return that provides a consolidated summary of the inward and outward supplies for regular taxpayers.

09The GSTR-9C

Is an annual GST Return Filing In Mumbai with the reconciliation statement. It is mandatory for taxpayers who have an aggregate turnover over a specific amount.

Penalty for Late Filing GST Returns

The penalty for Online GST Return Filing late varies in the kind of return and the delay duration.

If you late file the GSTR-1

There will be a penalty of RS 50 per day up to a maximum of Rs 5000. There is an RS.20 penalty for those who do not have any liability.

For late filing of GSTR-3B

There is a late fee of Rs 50 per day up to a maximum of 0.25% of the turnover amount in the union territory or state. The penalty is Rs.20 for taxpayers who have no liability.

For late filing of GSTR-4

There is a penalty of Rs.200 per day up to a maximum of 0.25% of the taxpayer’s turnover in the state or the union territory where the tax is applicable. The penalty is Rs.100 for the CGST and Rs.100 for the SGST/UTGST.

The taxpayer has to fill the GST Return Filing In Mumbai on the prescribed due date in order to avoid any accumulated penalty and to attain GST regulation compliance.

How do you file the GST returns?

Outsource GST Return Filing to Goyal Natiya & Associates

In order to outsource the GST filing to Goyal Natiya & Associates you will have to provide them with the details of your purchases, sales, and tax payment details. They will prepare and then do the GST Return Filing In Mumbai return on your behalf. They ensure compliance with the GST regulation. Goyal Natiya & Associates will take care of the entire process. This will be data collection, submission and recollections and the submission of the return to the GST portal. The expertise will include timely and accurate filing. This will minimise any errors and penalties. When you entrust the GST return to Goyal Natiya & Associates you can focus on your main business activities and get a seamless compliance with the tax obligations.

File GST Online

In order for Online GST Return Filing you will have to log into the GST portal with your credentials. Select the right GST return form based on your tax period and correctly file the details needed like the outward and the inward supply, the tax liability and the input tax credit. Validate the data that is entered and ensure that it is accurate. After the verification submit the return in the electronic format with the digital signature certificate or the electronic verification code. When you submit successfully you get an acknowledgement with a unique reference number. The acknowledgement needs to be kept for future use. The online GST Return Filing In Mumbai will streamline the process and promote transparency. This will also ensure compliance with the tax regulation.

How to File GST Returns Online?

Here are the steps for Online GST Return Filing:

01

02

Go to the Returns dashboard and select on the Services tab then on Returns and then on the Returns Dashboard to get the list of the various GST return forms.

03

Choose the right return form and then select the appropriate return form based on your category and tax period for which you wish to file the return

04

Enter the details asked for like the outward supply, inward supply and the tax liability. Ensure that the information entered is accurate and complete.

05

Validate and submit the data for Online GST Return Filing entered and reconcile the form for any discrepancies. Then go ahead and submit the return in the electronic format. Use the digital signature certificate or the electronic verification code.

06

When you successfully submit the form you will get an acknowledgement with a unique reference number to be used for future reference.

How to Check GST Returns Status?

To check the Online GST Return Filing status:

Visit the GST portal and log in with your credentials for GST Return Filing In Mumbai.
Navigate to the Service tab select the Returns tab and then on Track Return Status.
Choose the return period and the return type
Click on search to view the status of the return filed
You can see the status as filed, submitted, processed or pending
You can also check the acknowledgement reference number status for each of your Online GST Return Filing
Keep track of the return status regularly to get an update and for compliance purposes

How to Download GST Returns?

In order to download the GST return

Log into the GST portal with your credentials
Navigate to the services tab select on Returns and then View Filed Returns
Choose the right return period and on the return type
Click on the search button and then view the filed return list of the GST Return Filing In Mumbai
Check the return desired and click on the download button
Choose the Excel or pdf format in which format you wish to download the return
The return gets downloaded to the device and you can access it for reference

Benefits of choosing Goyal Natiya & Associates for the GST returns

Goyal Natiya & Associates offers expertise as it is run by a team of experienced professionals who understand the GST regulations and the GST Return Filing In Mumbai.

They maintain the timelines which lets you avoid any penalty

You can rest assured that your GST return will be filed as per the latest regulatory requirements

The GST Return Filing In Mumbai services are very cost-effective and they offer you personalised services

You can be in peace of mind when you entrust your GST return filing to Goyal Natiya & Associates

Why Choose Goyal Natiya & Associates for Your GST Return Filing?

You should choose Goyal Natiya & Associates for your GST Return Filing In Mumbai to benefit from their timely filing, expertise and efficiency. They minimise the risks of any errors. They also offer personalised services and offer services with complete dedication to achieve client satisfaction.

Documents Required for GST Return Filing

Here are the documents that you need for Online GST Return Filing:

Sale and purchase invoice

Tax payment challan

Input and credit records

Bank statements

Export/import document

Credit/debit notes

Ledger and accounts

GST registration certificate

FAQs

The GST return is a mandatory legal document that is required for all GST-registered businesses. For Online GST Return Filing they have to submit the same. It includes detailed information about the income and expenses of the business. The document is needed by the tax authorities to calculate the net tax liability of the taxpayers.

The GST Return Filing In Mumbai should be filed by any business or an individual who is registered under the GST in India. This is applicable to those whose annual turnover exceeds a certain amount as per the tax authorities.

There are 13 different kinds of returns in the GST framework. This caters to various aspects of the taxpayer's financial transactions. However not each taxpayer has to file all these returns. This is dependent on the GST registration details and the business category.

The GSTR-1 is a monthly or quarterly return that is used to report details of the business's outward supplies that is sales. For those businesses that have an annual turnover of over 5 crores then it needs to be filed before the 11th of the next month. For the others, it has to be filed by the 13th of the month following the quarter.

The GSTR-3B is a monthly summary return that consolidates the information on the outward supplies, tax payments and input tax credit claims. This is due by the 20th of the next month for the businesses that enjoy an annual turnover of over 5 crores.

The GSTR-4 is filed annually by the taxpayers who are enrolled in the composition scheme. This in return will summarise the turnover and the corresponding tax of the year. It is due by the 30th of April of the next financial year.

The GSTR-5 is a monthly return that is filed by non-resident foreign taxpayers who do taxable transactions in India. This includes details of the inward and the outward supplies and is due by the 20th of the month.

The late filing of the GST return attracts a penalty and an interest. The late filing fee is Rs 100 per day and is capped at Rs 5000. The late tax payments incur an 18% per annual interest charge.