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GST Filing

One of the key aspects of the GST era is that most of the indirect taxes – for which returns had to be filed separately for various businesses – have been subsumed. Today, irrespective of whether one is a trader, manufacturer, reseller or service provider, one needs to file GST returns online, in the prescribed formats.

    Is CA required to file GST returns?

    Earlier, it was mandatory for businesses with an aggregate annual turnover of more than Rs. 5 crores to get audit certification from CAs. However, now the CBIC has declared that such businesses can self-certify their GST return. GST returns can be filed on your behalf by a CA and but it is not mandatory for businesses. As GST rules and regulations are many, it is advisable that businesses hire a CA or a software tool that eases the filing process for minimal errors.

    Who Should File GST Return

    According to the GST Act, a taxable person has established a business in India, in any state, and is eligible to be registered under the act. This person must be a part of a trade or commerce or any economic activity. This includes local authority, LLP, HUF, individuals, cooperative society, trust, and an AOP/BOI. All such entities must then file GST returns as specified by the GST scheme.

    The GST regime has stated that all businesses need to file GST returns but the frequency of the returns and when to file depends on the total annual turnover and the type of business. The businesses that have an aggregate turnover of up to Rs. 5 crores can choose to file their GST returns under the QRMP scheme. They will need to file 9 GST returns per year; 4 GSTR-1 returns, 4 GSTR-3B returns, and one annual return must be submitted.

    The businesses that have an aggregate annual turnover of over Rs. 5 crores and those who have not chosen the QRMP scheme are required to file GST returns twice per month. Moreover, they must file one annual return. That makes up a total of 25 GST returns per year. Note that in many cases such as composition dealers, there are other returns required to be filed and submitted according to the GST regime.

    Can I file my own GST returns?

    You can file your GST returns yourself if you wish but as there are many careful considerations that need to be kept in mind when filing the returns, it is best if you take the help of an experienced CA or a software tool. You can use a robust solution such as Online CA India that automatically checks for errors so you can rectify them prior to filing your GST returns. It also enables you to generate GST-compliant invoices for hassle-free GST return filing later on.
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