A Comprehensive Guide: How to File GST Returns with National Filings

Author: National Filings

The implementation of Goods and Services Tax (GST) has revolutionized India's taxation system, unifying various indirect taxes into a single comprehensive tax. For entrepreneurs and businesses operating in the country, filing GST returns is a crucial compliance requirement. However, without proper guidance you may find this process difficult to execute. National Filings, India's largest cloud-based business services platform, is dedicated to helping entrepreneurs easily start and grow their businesses at an affordable cost. In this blog, we will provide a comprehensive guide on how to file GST returns by making the process more streamlined and hassle-free for entrepreneurs across the nation.

Understanding GST Returns

Before diving into the filing process, it's essential to grasp the concept of GST returns. GST returns are regular statements that businesses registered under GST need to file with the tax authorities. These returns contain information on the taxpayer's purchases, sales, input tax credit (ITC) claimed, and GST liabilities for a specific period. Filing accurate and timely GST returns is crucial for businesses to maintain compliance with GST regulations.

Types of GST Returns

The GST regime offers different types of returns based on the nature of the taxpayer's business and their turnover. The main types of GST returns include:

  1. GSTR-1: This return involves providing details of the outward supplies made by the taxpayer. It must be filed monthly by regular taxpayers and quarterly by taxpayers with a turnover below a certain threshold.

  1. GSTR-3B: GSTR-3B is a summary return that taxpayers file monthly. It summarizes the outward and inward supplies and the tax liabilities for the month, along with claiming ITC.

  1. GSTR-4: GSTR-4 is a quarterly return filed by taxpayers registered under the Composition Scheme, providing a summary of their turnover and tax payable.

  1. GSTR-9: GSTR-9 is an annual return that taxpayers file, summarizing the details of all their GST returns filed during the financial year.

Step-by-Step Guide on How to File GST Returns with National Filings

They simplify the GST return filing process through its user-friendly cloud-based platform. Here's a step-by-step guide to filing GST returns with National Filings:

Step 1: Registration and Login

  • If you're a new user, sign up on the National Filings platform to create an account.

  • Existing users can log in using their credentials.

Step 2: Enter Business Details

  • Once logged in, enter your business details, including the GSTIN (Goods and Services Tax Identification Number), business name, and address.

Step 3: Select the Appropriate GST Return

  • Based on your business type and turnover, they will guide you to the relevant GST return form to be filled.

Step 4: Populate the GST Return Form

  • They provide a user-friendly interface to populate the GST return form accurately.

  • Fill in the required information, including outward supplies, ITC claims, tax liabilities, and any other applicable details.

Step 5: Verify the Data

  • Review the filled-in GST return form to ensure accuracy and correctness.

  • Their platform may highlight any errors or missing information for your attention.

Step 6: File the GST Return

  • Once you're satisfied with the information provided, proceed to file the GST return.

  • They will generate a unique reference number (ARN) after successful submission.

Step 7: Payment of Tax Liability

  • Based on the details provided in the GST return, they will assist you in calculating your tax liability, if any.

  • Pay the calculated tax amount through the designated payment methods.

Step 8: Track the Status

  • They will allow you to track the status of your filed GST return, including any acknowledgments or pending actions.

With these step to step guides you can answer the question " How to File GST Returns?" Easily and Effectively.

Benefits of Filing GST Returns with National Filings

How to file GST returns with National Filings offers entrepreneurs a range of benefits:

  1. Convenience and Time-Saving: Cloud-based platform streamlines the entire GST return filing process, saving entrepreneurs valuable time and effort.

  1. Accuracy and Compliance: The platform ensures accurate and compliant filing of GST returns, reducing the risk of penalties due to errors or late submissions.

  1. Expert Guidance: They provide expert guidance and support, assisting entrepreneurs in navigating the complexities of GST return filing.

  1. Secure Data Handling: They employ robust data security measures, safeguarding sensitive financial information from unauthorized access.

  1. Cost-Effective Solutions: They offer affordable pricing, making GST return filing accessible to businesses of all sizes.

Conclusion

Filing GST returns is a vital compliance requirement for businesses operating in India. With a cloud-based business services platform, entrepreneurs can navigate the complexities of GST return filing with ease and efficiency. The user-friendly interface, expert guidance, and affordable pricing make National Filings the ideal partner for entrepreneurs seeking to simplify the GST return filing process and focus on growing their businesses.

As India's largest cloud-based business services platform dedicated to helping entrepreneurs start and grow their businesses, also empowers entrepreneurs to stay compliant, make informed financial decisions, and unlock new opportunities for success. By choosing National Filings, entrepreneurs can embark on their business journey with confidence, knowing that their GST return filing is in expert hands.