Everyone who has a GST registration is required to file a monthly GST return, regardless of their company sales or profitability. As a result, even if the taxpayer reports issuing no invoices for the registered firm, the taxpayer must check in to the GST system and submit NIL returns. If a taxpayer fails to file a NIL return, a penalty of Rs.100 per day will be imposed until the filling is completed. As a result, all GST-registered taxpayers must File a NIL GST return before the deadline. The following are the GST return deadlines:
Is there a GST return that isn’t required?
Yes, all GST-registered taxpayers must file returns on the 10th, 15th, and 20th of each month. To avoid a penalty, the taxpayer must log in to the GST system and file a NIL GST return even if there was no commercial activity or transaction during the month.
Do I have to file a GSTR3B return if I don’t have any income?
All taxpayers with a GST registration must complete a GSTR-3B return for July and August 2017. Even firms that had no business or transactions in July and August 2017 are required to file a nil GSTR-3B form.
Do I have to file a GSTR-1 return if I don’t have any income?
Yes, even if there were no sales transactions in a month, all ordinary taxpayers with GST registration must file a zero GSTR-1 return. A penalty of Rs.100 per day will be imposed if the taxpayer fails to file the GSTR-1 return.
The procedure for filing a nil GSTR1 return is as follows.
The taxpayer submits information about all sales transactions in the preceding month and uploads invoices to the GSTN site in the GSTR-1 report. Even if the firm produces no sales, the taxpayer must still report on NIL transactions. By entering onto the GST site, the taxpayer will be able to file NIL returns. e-sign and file the GSTR-1 return after submitting that no transactions were made.
Is it necessary for me to file a nil GSTR-2 return?
Yes, even if there were no purchase transactions in a month, a taxpayer must file a nil GSTR-2 report. A penalty of Rs.100 would be imposed if the GSTR-2 return is not lodged. All you need to do is to check the GST filing dates and start with the procedure.
Most of the information on the GSRT-2 return is auto-populated based on the GSTR-1 return filed by all other taxpayers. As a result, if no purchases were made, the GSTR-2 auto-populated form would display no transaction. GSTR-2 may be simply verified, e-signed, and submitted as a nil GSTR-2 return.
Is it necessary for me to file a nil GSTR-3 return?
Yes, even if there was no commercial activity in a month, a taxpayer must file a nil GSTR-3 return. A penalty of Rs.100 per day will be imposed if the GSTR-3 returns are not filed on time. Because the majority of GSTR-3 returns are auto-populated, filing a zero GSTR-3 form is simple. The taxpayer would need to connect to the GST Portal, check the amount of tax due, e-sign, and submit the GSTR-3 form.
NIL GSTR-3B Return Filing Procedure
A zero GSTR-3B return may be filed online through the GST site in a couple of minutes. As a result, everyone with a GST registration should file a nil return before the due date to avoid the penalty.
- Step 1: Go to the GST Portal and login. Use the GST Portal to access your GST account. Return to the dashboard by clicking on it.
- Step 2: Choose a filing month The GSTR-3B return is only required for July and August. As a result, choose July or August from the drop-down menu and click Continue.
- Step 3: Select Prepare GSTR-3B Return from the drop-down menu. In the area labeled Monthly Return – GSTR3B, click on prepare online.
- Step 4: Verify that all fields in the return are nil. Click Save if all fields in the GSTR3B return summary are nil. To save your progress, you can save the GSTR3B returns many times during the preparation period.
- Step 5: Review your GSTR3B return and submit it. After filling out all of the necessary information and saving the GSTR3B return, select Preview and Submit GSTR3B. The taxpayer will not be able to amend any of the information entered once the button has been pressed.
- Step 6: Sign the GSTR3B return digitally. After submitting the GSTR3B return, the user has the option to select the ‘Agree’ button on the site. To complete the zero GST return filing, the user must additionally digitally sign the GSTR3B return.
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