Overview : GST or Goods and Services Tax is a comprehensive tax system that has replaced various indirect taxes in India.

In this blog post, we will provide you with a detailed guide on GST return in Gujarat.

 GST returns are the forms that taxpayers file with the GST department every month or quarter to report their business transactions and the tax liability.We recommend you to consult professionals like Luxe Finalyzer to avoid legal issues. 

 

Step 1: Registration

To file a GST return in Gujarat, you need to register for GST on the official GST portal. You can register as a regular taxpayer, composition taxpayer or an input service distributor, depending on your business type. Once you register, you will receive a GSTIN or GST identification number.

Step 2: Types of GST Returns

There are different types of GST returns that you need to file, depending on your business type and turnover. Here are the types of GST returns:

 

GSTR-1: This return is filed by the taxpayer to report their outward supplies or sales made during the month.

 

GSTR-2A: This return is an auto-populated form that shows the inward supplies or purchases made by the taxpayer.

 

GSTR-3B: This return is filed by the taxpayer to report their tax liability, input tax credit, and payment of taxes.

 

GSTR-4: This return is filed by the composition taxpayers on a quarterly basis.

 

GSTR-5: This return is filed by non-resident taxpayers who conduct business in India.

 

Step 3: Filing of Returns

Once you have registered and determined the type of GST return you need to file, you can start filing your returns on the GST portal. Here are the steps to file GST returns in Gujarat:

Log in to the GST portal of Luxe Finalyzer with your GSTIN and password.

Select the type of return you want to file.

Enter the details of your outward and inward supplies, input tax credit and tax liability.

Verify the details and submit the return.

 

Step 4: Payment of Tax Liability

After filing the return, you need to pay the tax liability as per the details provided in the return. You can make the payment online using net banking, credit or debit card, or through an offline challan.

 

Step 5: Late Filing and Penalty

In case you fail to file your GST return within the due date, you will have to pay a penalty of Rs. 50 per day for every day of delay. The maximum penalty is Rs. 5,000. Also, you cannot file the next month's return until you file the pending returns and pay the penalty.

 

In conclusion

 

Filing GST returns is mandatory for every business that is registered under GST in Gujarat. By following the steps mentioned in this blog post, you can easily file your GST returns and avoid any penalties for late filing.