The GST returns should be filed by individuals who are registered under GST monthly if their annual aggregate turnover exceeds Rs 1.5 crore during the fiscal year and it are often filed in forms GSTR-1 and GSTR-3B. and therefore the remainder of the taxpayers can choose a quarterly GSTR-1 filing while filing GSTR-3B monthly, until December 2020.
The GST returns should be filed by individuals who are registered under GST monthly if their annual aggregate turnover exceeds Rs 1.5 crore during the fiscal year and it are often filed in forms GSTR-1 and GSTR-3B. and therefore the remainder of the taxpayers can choose a quarterly GSTR-1 filing while filing GSTR-3B monthly, until December 2020.
From the quarter of 1st January 2021, the taxpayers whose annual turnover exceeding Rs.5 crore may choose the QRMP scheme through which they will file both GSTR-3B and GSTR-1 once during a quarter, while continue making monthly calculated tax payment.
Till FY 2018-19, a private registered under composition scheme need to file form GTSR-4 – a quarterly return and form GSTR-9A – an annual return. a private registered under the composition scheme must file a replacement version of GSTR-4 per annum and must pay tax once during a quarter in form CMP-08 giving basic details by 30th April for FY 2019-20 onwards.
Under GST registration online, Special transactions are determined with specific GST returns like GSTR-8, GSTR-7, GSTR-6, GSTR-5A, and GSTR-5.
Latest Information on GST Returns maturity Extensions
Following are section provides updates on the newest notifications and news for maturity extensions on various GST returns and filings:
Updated information as on 30th December of 2020
For filing GSTR-9 & GSTR-9C for fiscal year 2019-20, the maturity has been extended to 28th of February month 2021.
Update information as on 10th November of 2020
(1) The maturity for filing ITC-04 for the periods of July to September 2020 is extended to 30th November 2020.
(2) The maturity for filing GSTR-1 for the periods of October 2020 to March 2021 has been declared as follows:
Quarterly return filers:
13th January 2020 – October 2020 to December 2020:
13th April 2021 – January 2020 to March 2021
Update as of 28th October of 2020
The maturity for filing GSTR-9 & GSTR-9C for the fiscal year 2018-19 has been extended to 31st December 2020.
Update as of 15th October of 2020
The CBIC has apprised that the maturity for filing of GSTR-9 are going to be made optional for little taxpayers whose turnover exceeds up to Rs.2 crore for fiscal year 2019-20.
Update as of 30th September of 2020
The maturity for filing GSTR-9C and GSTR-9 for the fiscal year 2018-19 has been extended to 31st October 2020.
Update as of 31st August of 2020
The maturity to file GSTR-4 for fiscal year 2019-20 is extended further to 31st October 2020.
Addressing the media through video conference, Nirmala Sitharaman announced that companies having turnover less than Rs 5 crore won’t be charged penalty or interest for the late filing of GST. Whereas bigger companies having turnover more than Rs.5 crore will have to pay the interest amount of about 9 per cent for delayed filing of GST, but no penalty or late fee will be levied. “On the late filing of GST returns, no late fee, penalty or interest will be charged for companies with turnover of up to Rs 5 crore,”. On adding details, she said there is no late fee and penalty will be charged on GST return filed by 15 days for the companies with over Rs 5 crore turnover.
Documents for Online GST Registration in India
The documents needed for the GST Registration differs depending on the type of business. Below is the list of documents needed:
- Proprietorship
Id Proof that includes PAN Card or Aadhar Card
Address proof of the proprietor - LLP Or Limited Liability Partnership
1. PAN Card
2. LLP Agreement
3. Name and Address Proof of the partner
- For Private Limited Company
1. Certificate of incorporation
2. Pan Card
3. Article of Association (AOA)
4. Memorandum of Association (MOA)
5. Identity and Address proof of the Director of the company
6. Digital Signature Certificate
- For Address Proof Of Directorship:
1. Passport of the applicant
2. Voted ID Card and Aadhar Card
3. Telephone or electricity Bill
4. Ration Card and the Driving license
5. Latest Bank Account Statement
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