GST compliance requires businesses to file multiple returns at regular intervals. Understanding which returns apply to your business and their deadlines is crucial to avoid penalties. Here's a comprehensive guide for businesses in Tamil Nadu.
Types of GST Returns
GSTR-1 (Outward Supplies)
What: Details of all outward supplies (sales) made during the month/quarter
Who: All registered taxpayers
Frequency: Monthly (turnover > Rs. 5 crores) or Quarterly (under QRMP scheme)
Deadline: 11th of the following month (monthly) or 13th of the month following the quarter
GSTR-3B (Summary Return)
What: Summary of outward supplies, ITC claimed, and tax payment
Who: All regular registered taxpayers
Frequency: Monthly or Quarterly (under QRMP scheme)
Deadline: 20th of the following month (monthly) or 22nd/24th of the month following the quarter
GSTR-9 (Annual Return)
What: Annual summary of all monthly/quarterly returns filed during the year
Who: All regular taxpayers (turnover > Rs. 2 crores)
Deadline: December 31 of the following financial year
GSTR-9C (Reconciliation Statement)
What: Reconciliation between GSTR-9 and audited financial statements
Who: Taxpayers with turnover > Rs. 5 crores
Deadline: December 31 of the following financial year
GSTR-4 (Composition Scheme)
What: Annual return for composition scheme taxpayers
Who: Taxpayers registered under the composition scheme
Deadline: April 30 of the following financial year
QRMP Scheme
The Quarterly Return Monthly Payment (QRMP) scheme is available for taxpayers with turnover up to Rs. 5 crores. Under this scheme:
File GSTR-1 and GSTR-3B quarterly instead of monthly
Pay tax monthly using the challan
Use Invoice Furnishing Facility (IFF) to upload B2B invoices monthly
Penalties for Late Filing
GSTR-1 & GSTR-3B: Rs. 50 per day (Rs. 20 for nil returns), maximum Rs. 5,000
GSTR-9: Rs. 200 per day, maximum 0.25% of turnover
Interest: 18% per annum on unpaid tax (from due date to payment date)
Expert GST Return Filing in Coimbatore
WINTRUST SOLUTIONS handles complete GST return filing for businesses across Coimbatore and Tamil Nadu. Our services include:
Monthly/quarterly GSTR-1 and GSTR-3B filing
ITC reconciliation and optimization
Annual return (GSTR-9) preparation and filing
GST audit and reconciliation statement
Never miss a deadline. Contact us today!