Taxpayers with annual turnover below 1.5 crore rupees can file quarterly returns and others must file monthly returns.GST filing quick and online process. However,returns should be filed correctly to ensure that GST credit can be passed onto the next stage. Non-filing of GST Registration entail heavy penalties.All registered persons under GST are required to file various returns. Main returns to be filed are GSTR-3B to be filed every month by 20th and GSTR 1.If the turnover for a business for previous year is up to 5 crores, you can pay your GST on monthly basis and file your GSTR 3B quarterly.
GST Returns can be filed online using any of the below mentioned methods:
Online
The Return can be filed online either through Government portal or
Third Party Softwares
Offline
The GST Return can also be prepared offline through utilities available on Government Portal GST Suvidha Providers
Non filing or delayed filing of GST Returns can attract you
Late Fee:Fails to do so by the due date, shall attract a late fees of Rs 100 per day, aggregating maximum upto Rs 5000
Penalty:if fails to furnish the return by due date then, late fee of Rs 100 per day aggregating maximum upto 0.25% of quarterly turnover in State or Union Territory.
