How many times can you file nil return GST?
How many times can you file nil return GST?
In general, the businesses are required to file normally three returns in a month and additionally one annual return, summing up to the total of 37 returns under GST.
How many times a year can you file GST return?
In the GST regime, any regular business having more than Rs. 5 crore as annual aggregate turnover has to file two monthly returns and one annual return. This amounts to 26 returns in a year.
Is nil return mandatory for GST?
It is mandatory for every registered taxpayer to file nil GST return even when he has no transaction for that particular period. Further, non-filing of returns will attract penalty for the taxpayer.
Is there any penalty of nil return on GST?
* The original late fees used to be Rs.100 per day under each CGST Act and SGST Act. Also, the original late fee for Nil return filers used to be Rs.25 per day under each CGST Act and SGST Act….Total late fees to be paid per day.
| Name of the Act | Late fees for every day of delay |
|---|---|
| Total late fees to be paid per day | Rs 20* |
How many times should I file GST?
The businesses registered under GST have to file returns monthly, quarterly and annualy based on the category of business through the Government of India’s GST portal. They have to provide the details of the sales and purchases of goods and services along with the tax collected and paid.
What happens if nil return is not filed?
If NIL return is not filed, a penalty of Rs. 200 per day is applicable until the filing is complete. Hence, all taxpayer having GST registration must submit NIL GST return before the deadline.
Should GST be filed every month?
GST registered businesses typically have to file three returns per month (GSTR-1, GSTR-2 and GSTR-3) in each state where they operate. An annual GST return is also required. There are 29 states in India – although the state of Jammu and Kashmir has not implemented GST.
How do I file my GST 1 nil return?
How to file Nil GSTR-1 on the GST portal?
- Step 1– Login to the GST portal.
- Step 2 – Go to services in the drop-down, select returns dashboard.
- Step 3 – Select month and year of filing from the drop-down.
- Step 4 – Click on ‘Prepare Online’ under GSTR-1 tile.
- Step 5 – Click on ‘Generate GSTR-1 Summary’
Is Gstr-3B compulsory for nil return?
Who should file GSTR-3B? All taxpayers, including those with nil returns are required to file this GST Return Form on a monthly basis.