Who has to file a GST return in Uttar Pradesh
All businesses that are registered under the GST in Uttar Pradesh are required to file a return, regardless of whether they have any tax liability for the period. This includes businesses with nil turnover for the period, as well as those that have availed themselves of Input Tax Credit (ITC).
When is a GST return due
Returns must be filed on a monthly or quarterly basis, depending on the taxpayer’s turnover. For taxpayers with an annual turnover of up to Rs 1.5 crore, returns must be filed on a quarterly basis. For taxpayers with an annual turnover exceeding Rs 1.5 crore, returns must be filed on a monthly basis.
Quarterly returns are due at the end of each quarter – i.e., 31st March, 30th June, 30th September and 31st December – while monthly returns are due at the end of each month.
In both cases, taxpayers must file their returns by the 20thof the following month/quarter in order to avoid late fees and penalties.
What are the penalties for late filing of a GST return
The penalties for late filing of GST returns in Uttar Pradesh vary depending on the taxpayer’s turnover. For taxpayers with an annual turnover of up to Rs 1.5 crore, the penalty is Rs 100 per day, up to a maximum of Rs 5,000. For taxpayers with an annual turnover exceeding Rs 1.5 crore, the penalty is Rs 200 per day, up to a maximum of Rs 10,000.
In both cases, the minimum penalty that can be levied is Rs 500.
taxpayers who fail to file their return for three consecutive tax periods will have their registration cancelled by the tax authorities.
How to register for GST in Uttar Pradesh
Any business with a turnover of more than 20 lakhs has to compulsory register for GST. Businesses falling under the ambit of composition scheme or special category states have a threshold of 10 lakhs. The registration process
is online and can be completed on the GST portal. The following documents are required for registration:
1) PAN Card
3) Cancelled Cheque
4) Address Proof- Bank Statement/ Rent Agreement/ Electricity Bill
After the registration is complete, the taxpayer will receive a 15-digit Goods and Services Tax Identification Number (GSTIN).
How to file a GST return in Uttar Pradesh
Returns can be filed online through the GST portal using the taxpayer’s login credentials. A return filing comprises of six tables which must be filled in by the taxpayer:
1) Table 1: Outward supplies details
2) Table 2: Inward supplies details attracting reverse charge
3) Table 3: Eligible Input Tax Credit
4) Table 4A: Value of exempt, nil-rated and non-GST inward supplies
5) Table 4B: ITC reversal
6) Table 5: Payment details
Once all the information has been entered into the respective tables, an electronic copy of the signed return must be uploaded onto the portal. After that, a preview of the return will be generated which is to be checked for any errors. If there are no errors, then the ‘Submit’ button can be clicked after which e-Way Bill number should appear on screen. This completes the return filing process.
Tips for Filing Your GST Return in Uttar Pradesh
Keep good records
One of the most important things you can do to ensure a smooth and stress-free GST return filing process is to keep good records. This means having all your invoices and receipts organized and in one place. If you run a small business, it’s a good idea to invest in accounting software that can help you keep track of your expenses and income. This will make it much easier to generate accurate reports come tax time.
Another crucial aspect of keeping good records is ensuring that all your invoices are correctly filled out. Make sure that each invoice includes the correct GST amount charged as well as the registration number of your business. This will make it easier for the authorities to verify your claims and process your return quickly.
Understand the GST return form
Before you start filling out your GST return form, take some time to understand what information is required. The last thing you want is to make a mistake that could result in a delay or even rejection of your return.
The GST return form consists of two parts: Part A and Part B. Part A is for reporting your sales, while Part B is for claiming input tax credits (ITCs). You’ll need to fill out both parts of the form regardless of whether you’re making a refund claim or not.
Part A of the form requires you to provide details such as your name, address, GSTIN, total turnover for the period, total taxable turnover, and total tax payable. You’ll also need to specify whether any advances were made during the period and if so, how much was paid back against those advances.
In Part B, you’ll need to provide details about ITCs claimed during the period. This includes specifying the type of ITC (e., input tax credit on purchases or Works Contract Tax), total eligible ITC amount claimed, ineligible ITC amount claimed, amount reversed during the period, and net ITC available for set-off against liability.
If you’re unsure about any part of the GST return form, don’t hesitate to seek professional help from a qualified accountant or tax consultant who can guide you through the process step-by-step.
Hire a professional tax consultant
If you’re not confident about handling your GST return filing on your own, you can always hire a professional tax consultant
to do it for you. This is especially advisable if you run a large or complex business with multiple transactions. A tax consultant can help make sure that your return is filed correctly and on time, and can also offer valuable advice on how to maximize your ITCs.
When choosing a tax consultant
, be sure to ask for referrals from friends or business associates who have used their services in the past. You can also check out online reviews to get an idea of what other businesses think of their experience with the consultant. Once you’ve narrowed down your choices, be sure to get quotes from each one so that you can compare rates before making a decision.
If you are registered for GST, you must file a GST return. This return must be filed even if you have nil tax liability for the period. The due date for filing GST return is the 20th of the month following the end of the quarter. For example, if your accounting period ends on 31 March, your GST return will be due on 20 April. If you fail to file your GST return on time, you will be liable to pay a late filing penalty of INR 100 per day.
There are three steps to filing your GST return: registration, filing and payment. To register for GST, you must have a valid PAN number and an email address. Once you are registered, you can file your GST return online using the government's e-filing portal or offline using a paper form. There are four types of GST returns: GSTR-1, GSTR-2A, GSTR-3B and GSTR-4.
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