Key components of GST returns include:

• Purchases: Detailed records of purchases made by the taxpayer.
• Sales: Comprehensive logs of sales activities.
• Output GST (On Sales): Information on GST charged on sales.
• Input Tax Credit (GST Paid on Purchases): GST paid on purchases that can be deducted from the GST owed on sales.
• For those needing assistance with GST return filing or managing compliance, OnEasy offers dedicated GST services to streamline the process

Types of GST Returns

The Goods and Services Tax (GST) system comprises 13 types of returns, each catering to specific aspects of a taxpayer's financial dealings. Not all taxpayers are required to file every return; the specific filings depend on the taxpayer's category and details of their GST registration.Here’s a brief overview of the 13 GST returns:

• GSTR-1: Details of outward supplies (sales).
• GSTR-3B: Summary of sales and purchases, including tax payments.
• GSTR-4: For Composition Scheme taxpayers, summarizing turnover and tax.
• GSTR-5: For non-resident taxpayers conducting taxable transactions in India.
• GSTR-5A: For providers of online database services.
• GSTR-6: For Input Service Distributors detailing ITC distribution.
• GSTR-7: For entities required to deduct TDS under GST.
• GSTR-8: For e-commerce operators reporting platform transactions.
• GSTR-9: Annual comprehensive return summarizing all filings.
• GSTR-10: Final return upon cancellation of GST registration.
• GSTR-11: For Unique Identity Number holders claiming refunds.
• CMP-08: Quarterly statement for Composition Scheme taxpayers.
• ITC-04: For manufacturers declaring goods sent to and received from job workers.
• In addition, there are statements for input tax credits:
• 1.GSTR-2A: Dynamic return for inward supplies.
• 2.GSTR-2B: Static snapshot of inward supplies based on previous filings.
• For small taxpayers in the Quarterly Return Monthly Payment (QRMP) scheme, the Invoice Furnishing Facility (IFF) allows B2B sales declarations in the first two months of a quarter, with tax payments required monthly using Form PMT-06.

Filing Deadlines and Penalties

Late filing of GST returns can lead to penalties and interest charges. It's essential for businesses to submit on time to avoid these costs. Key points include:

• All registered taxpayers must file returns regularly, even with no business activity.
• Late filings result in delayed subsequent filings.
• Penalties for late submissions include Rs. 100 per day for each CGST and SGST, with a maximum of Rs. 5,000.

How to File GST Returns with OnEasy

As a leading business service platform in India, OnEasy offers comprehensive GST services, having assisted thousands of business owners with GST registration and return filing.

Outsource Your GST Compliance to OnEasy

Relieve yourself of the compliance burden by outsourcing your GST requirements to OnEasy. Our dedicated GST advisors will guide you through every step of the filing process, ensuring a smooth and efficient experience.

Benefits of Choosing OnEasy for GST Returns

• A knowledgeable relationship manager will assist you throughout the process, ensuring timely filing and addressing specific needs, like invoice uploads.
• We send reminders well before deadlines to help you avoid penalties.
• Receive updates on your GST return filing status from your advisor.
• Your returns are prepared with our comprehensive system, ensuring accuracy and timely submission.
• All financial transactions and invoices are recorded seamlessly, enabling hassle-free filing of ITR, TDS, and GST.

Ensure Compliance with OnEasy

Contact our experts today to experience seamless filing with dedicated assistance at every stage! With OnEasy, your business can remain compliant and avoid penalties by filing GST returns on time.