GST Returns Filing

What is GST Return?

GST Return is a document which includes the information of sales, purchases, input tax credit and every taxpayer is required to file this GST returns.

The GST mechanism include electronic filing of returns, uploading of invoice level information and auto-population of information relating to Input Tax Credit from returns of supplier to that of recipient, invoice level information matching the auto-reversal of Input Tax Credit in case of mismatch.

Under GST taxpayer needs to file monthly returns and one annual return.

Know more about the GST rates: https://www.trutax.in/gst-rate-slab

You can file GST Return on GSTN portal- https://www.gst.gov.in/

Types of GST Returns and due dates:

GSTR-1, GSTR-2 and GSTR-3 are required to file by normal taxpayers.

These are the types of GST Returns and its due dates for filing of GST Returns:

GSTR-1:

GSTR-1 form includes the details of outward supplies of taxable good or services. This form contains 13 different heads like GSTIN of the taxpayer, Name, Turnover, Export Sales, Tax paid etc.

The due date for filing of GSTR-1 form is 10^th of Next Month.

GSTR-2:

GSTR-2 form includes the details of inward supplies of taxable goods or services. GSTR-2 form contains the heads like GSTIN of the taxpayer, Name, Details of Inward Supplies, Import of Goods, Tax paid, Input Tax Credit Reversals etc.

The due date for filing of GSTR-2 form is 15^th of Next Month.

GSTR-3:

GSTR-3 form includes the details of Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of amount of tax. GSTR-3 form contains heads like GSTIN of the taxpayer, Name, Address of the taxpayer, Details of outward supplies, Details of Inward Supplies etc.

The due date for filing of GSTR-3 form is 20^th of Next Month.

GSTR-4:

GSTR-4 form includes the details of Quarterly Return for compounding taxable persons.

The due date for filing of GSTR-4 form is 18^th from end of the Quarter.

GSTR-5:

GSTR-5 form includes the details of Returns for Non-Resident foreign taxable persons.

The due date for filing of GSTR-5 form is 20^th from end of the month.

GSTR-6:

GSTR-6 form includes the details of Input Service Distributor Return.

The due date for filing of GSTR-6 form is 13^th of Next Month.

GSTR-7:

GSTR-7 form includes the details of Return for authorities deducting tax at source.

The due date for filing of GSTR-7 form is 10^th of Next Month.

GSTR-8:

GSTR-8 form includes the details of supplies effected through e-commerce operator and the amount of tax collected as required under sub-section (52).

The due date for filing of GSTR-8 form is 10^th of Next Month.

GSTR-9:

GSTR-9 form is required to file Annual Return by taxpayer. In this return, the taxpayer needs to furnish details of expenditure and details of income for the entire financial year.

The due date for filing of GSTR-9 form is 31^st December of next financial year.

GSTR-9A:

GSTR-9A form is used for Simplified Annual Return by compounding taxable persons registered under Section 10.

The due date for filing of GSTR-9A form is 31^st December of next financial year.

Taxpayer who fails to file GSTR-1, GSTR-2, GSTR-3 or Final Return within the due dates shall be liable to pay a late fee of Rs. 100 per day, subject to a maximum of Rs. 5,000.

There are some sections of the Income Tax Act under which you can get the income tax notice.
No need to panic if you receive the income tax notice instead understand the reason of getting the income tax notice and its implications.
Section 139(9):
There are some cases in which you will get a notice under section 139(9):

• Wrong ITR form while filing income tax returns.
• Mismatch in the name on the form and PAN card.
• Paid taxes but not mentioned income.
• Not paid the whole tax due.
• Claimed a refund for deducted tax but not mentioned the relevant income.

Time to respond: Within 15 days of date of intimation by assessing officer.
You can contact our experts for any assistance: https://www.trutax.in/affordable-tax-services-and-plans
Section 245:
In Section 245, you will get this notice or intimation letter if you have claimed a refund in some assessment year, but there is also some outstanding tax to be paid by you.
Time to respond: In the specified duration, as per the notice by the assessing officer.
You can contact our experts for any assistance: https://www.trutax.in/affordable-tax-services-and-plans
Section-143(2):
If you get notice under section 143(2), it means your returns has been selected for scrutiny by Assessing officer which means the tax filed return by you was incomplete in document or not proper.
This can be of three types:

• Limited purpose Scrutiny.
• Complete Scrutiny.
• Manual Scrutiny.

Time limit to respond: The assessee will have to appear in person before the officer on the date specified in the notice.
You can contact our experts for any assistance: https://www.trutax.in/affordable-tax-services-and-plans
Section 143(1):
This is an intimation about the returns filed by you.
Time limit to respond: If tax is due then you will have to pay it in within 30 days. If there is no discrepancy then you no need to worry about this.
You can contact our experts for any assistance: https://www.trutax.in/affordable-tax-services-and-plans

Section 143(1A):
This income tax notice under section 134(1) is sent only if there is any discrepancy in the income mentioned in the return and form 15, Section 80C deductions and Form 16AS, then verification will be sought.
Time limit to respond: Within 30 days of issue of intimation.
You can contact our experts for any assistance: https://www.trutax.in/affordable-tax-services-and-plans

Income Tax Notice-Understand Section 143

As we all know that it is very important to file your income tax returns on time but filing ITR correctly is also very important. If there will be any error in income tax return filed by you then you can expect income tax notice.
In that case you no need to panic about the income tax notice and just need to understand the various sections under which you have received it.

Section 143(1):

This is an intimation about the returns filed by you.
Time limit to respond: If tax is due then you will have to pay it in within 30 days. If there is no discrepancy then you no need to worry about this.
You can contact our experts for any assistance: https://www.trutax.in/affordable-tax-services-and-plans

Section 143(1A):

This income tax notice under section 134(1) is sent only if there is any discrepancy in the income mentioned in the return and form 15, Section 80C deductions and Form 16AS, then verification will be sought.
Time limit to respond: Within 30 days of issue of intimation.
You can contact our experts for any assistance: https://www.trutax.in/affordable-tax-services-and-plans

Section-143(2):

If you get notice under section 143(2), it means your returns has been selected for scrutiny by Assessing officer which means the tax filed return by you was incomplete in document or not proper.
This can be of three types:

• Limited purpose Scrutiny.
• Complete Scrutiny.
• Manual Scrutiny.

Time limit to respond: The assessee will have to appear in person before the officer on the date specified in the notice.

If you fail to comply with the provisions of this section:

• Prosecution up to one year with or without fine.
• Penalty of Rs. 10,000 for each failure under section 271(1) (b).
• Best Judgement assessment of your case under section 144.

Last date for filing of Income Tax Returns is 5th Aug(Saturday)

The Income Tax Department had recently extended the deadline to 5th Aug for filing the Income Tax Returns.

There are two ways to file the income tax returns online. In one method individual can download the applicable form from the Income Tax e-filing website, fill the form offline, save it, generate the XML file and then upload it.

Another way for filing the income tax returns online is to fill the data directly in an online form and then submit it.

There are some important things to do by taxpayers if they have already filed the income tax returns or not yet filed the ITR.

If you have not filed your income tax returns:

1.       Link your Aadhaar and PAN: https://www.trutax.in/link-aadhaar-with-pan

2.       Keep relevant documents for filing income tax returns.

3.       File your income tax returns on time to avoid penalty.

If you have file your income tax returns:

Verify your return: https://www.trutax.in/blog/income-tax/e-verify-itr-using-aadhaar

Keep tabs on intimation status.

Income Tax refund status.

File your Income Tax Returns Today: https://www.trutax.in/sign-in

New Deadline for filing Income Tax Returns is 5th Aug 2017

The last date for filing of income tax returns for the financial year 2016-17 is 5^th Aug which is extended today by the Income Tax Department.

Every individual whose gross total income exceeds the taxable income must file an Income Tax Returns by 5^th Aug.







e-file your Income Tax Returns today: https://www.trutax.in/sign-in

While ITRs can now be filled by Aug 5, the ministry of finance has said the Aadhaar-PAN linking can be done till Aug 31. However, the returns will not be processed until the linkage of Aadhaar with
 PAN is done.



The linking of Aadhaar number with the PAN of a taxpayer has also been made mandatory for filing of income tax return(ITR). The department has asked taxpayers to declare cash deposits made in bank accounts aggregating to Rs. 2 lakhs or more during demonetisation in the ITRs.