August 25 is the last date for filing GSTR-3B form, which is a summary return of details of outward supplies, inward supplies, credit and payment of GST, for the month of July.
According to sources, PK Dash, Chairman, CBIC, expressed his displeasure in the progress of cancellation of registration of non-filers who have not filed GSTR 3B (showing tax payments) returns for six or more than six return periods and are liable to action under GST law.
GST returns can be filed online using the software or apps provided by Goods and Service Tax Network (GSTN) which will auto-populate the details on each GSTR forms. Listed below are the steps for filing GST return online: Step:1 Visit the GST portal (www.gst.gov.in).
If you don't file any GST return then subsequent returns cannot be filed. For example, if GSTR-2 return of August is not filed then the next return GSTR-3 and subsequent returns of September cannot be filed. Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty (see below).
Types of GST Returns
- GSTR-1. GSTR-1 is the return to be furnished for reporting details of all outward supplies of goods and services made, or in other words, sales transactions made during a tax period, and also for reporting debit and credit notes issued.
- GSTR-2A.
- GSTR-2.
- GSTR-3.
- GSTR-3B.
- GSTR-4 / CMP-08.
- GSTR-5.
- GSTR-6.
How to file GST return online:
- Visit the GST portal (www.gst.gov.in).
- A 15-digit GST identification number will be issued based on your state code and PAN number.
- Upload invoices on the GST portal or the software.
- After uploading invoices, outward return, inward return, and cumulative monthly return have to be filed online.
1.Track Refund Application Post-Login to the GST Account
- Visit the GST Portal and login to your account with valid credentials.
- Go to 'Services' -> 'Refunds' -> 'Track Application Status'.
- Select the relevant financial year for which the refund application was filed, or enter the ARN of the refund application.
For the July 2020 to June 2021 payment period that is based on your 2019 net income, you will receive GST/HST credits when your family income is less than: Recipients who are single can get up to $451, married couples can get up to $592, plus up to $155 per child under age 19.
The Canada Revenue Agency usually send the GST/HST credit payments on the fifth day of July, October, January, and April. If you do not receive your GST/HST credit payment on the expected payment date, please wait 10 working days before you contact us.
As announced on March 27, 2020, the CRA allowed all businesses to defer, until June 30, 2020, any GST/HST payments or remittances that became owing on or after March 27, 2020, and before July 2020. This meant that no interest would apply if your payments or remittances are made by June 30, 2020.
Generally, Canadian residents age 19 or older are eligible to receive the federal GST/HST credit, which is paid quarterly to eligible recipients. Those under 19 may be eligible, if they have (or previously had) a spouse or common-law partner, or if they are a parent and they reside with their child.
The goods and services tax/harmonized sales tax (GST/HST) credit is a tax-free quarterly payment that helps individuals and families with low and modest incomes offset all or part of the GST or HST that they pay. You are automatically considered for the GST/HST credit when you file your taxes.
Electronic tax returns are the quickest, normally processed by the ATO within two weeks. Etax expects that most refunds will be out within 10 working days after lodgement of 2020 tax returns, but some people will wait a bit longer for the ATO to get it done. Paper returns are much slower, taking 10 weeks.
First, review all the details of the invoice to make sure they're accurate. Look over the products or services provided and make sure they align with the agreement in the purchase order or contract. Look at the amount you're being charged and make sure it's in line with what you discussed with the supplier.
Go to the GST portal or follow the link gst. You will be redirected to a page where it will ask for the GSTIN of the entity. Enter the GSTIN and click on 'Search'. Fill in the right captcha code and click on 'Search'.
To view your complete profile on the GST Portal, perform following steps:
- Access the www.gst.gov.in URL.
- Login to the GST Portal with valid credentials.
- On the top right corner of the page displayed, click the down arrow appearing next to your username, and then click on the My Profile option.
GSTR-3B is a monthly return. All regular taxpayers need to file this return till June 2018. Taxpayers can file their return on GST Portal. Taxpayers have to file this return by 20th of the subsequent month.
As many as 94 lakh registered GST taxpayers can opt in for the new Quarterly filing of Return with Monthly Payment (QRMP) Scheme, under which GSTR-3B returns can be filed just once a quarter.
GST/Indirect Tax Changes Due to Covid19“Date for filing GST annual returns of FY 18-19, which is due on 31st March 2020 is extended till the last week of June 2020.” Note: The finance ministry has extended the last date till 30th September 2020.
GSTR-3B is a monthly self-declaration to be filed by a registered GST dealer along with GSTR 1 and GSTR 2 return forms. It is a simplified return to declare summary GST liabilities for a tax period. IMPORTANT: You have to file GSTR-3B even when there has been no business activity (nil return).
yes you can file GSTR-1 before filing GSTR-3b but both are mandatory.
GSTR – 3B is a monthly summary return filed by a taxpayer by the 20th of the next month. GSTR – 1 is a monthly or quarterly return filed by taxpayers to disclose details of their outward supplies for the month – along with their tax liability.
How to compute GST return? This can be done by subtracting the comprehensive GST you have paid on your purchases and expenses (available on the box 14 on your return) from the holistic GST you have received from your sales and income (available on the box 10 on your return).
Reverse Charge Mechanism under GST is a mechanism under which the usual cycle of tax payment is reversed. In the normal system, the recipient of goods will pay the value of the goods & relevant taxes on it to the supplier who then pays the GST to the Government.
