Monthly GST Filing by Accountants

GST Return Filing

Every GST-registered business in India must file GST returns – whether monthly, quarterly, or annually – depending on the nature and scale of their operations. Missing deadlines leads to penalties, interest charges, and compliance headaches that can slow your business down.

BizReady takes the stress out of GST filing. Our dedicated GST advisors handle your returns end-to-end – from collecting invoices to filing on time – so you can focus on running your business. Affordable, transparent, and backed by experienced Chartered Accountants.

What is a GST Return?

A GST Return is a detailed statement of financial transactions that every GSTIN holder must submit to the tax authorities. It captures all the information needed to calculate your net tax liability, including:

Purchases: A detailed record of all purchases made during the period.

Sales: A comprehensive log of all sales activities.

Output GST (On Sales): The GST charged on your sales transactions.

Input Tax Credit (GST Paid on Purchases): The GST paid on purchases, which can be claimed as a credit against your output GST liability.

Who Should File GST Returns?

GST returns must be filed by any business or individual registered under the GST regime. This includes entities whose annual aggregate turnover exceeds the prescribed threshold, which varies based on taxpayer category (regular taxpayer vs. composition scheme). All applicable entities must file before the due date to avoid late filing penalties and interest.

Types of GST Returns

The GST system has 13 returns catering to different taxpayer categories. Not every taxpayer needs to file all of them – it depends on your registration type and business activities.

GSTR-1 – Details of outward supplies (sales). Due on the 11th of the following month for turnover above ₹5 crore, or 13th of the month following the quarter under the QRMP scheme.

GSTR-3B – Summarised return covering sales, purchases, and tax payments. Due by the 20th of the following month (monthly filers) or 22nd/24th of the month after the quarter (QRMP scheme).

GSTR-4 – Annual return for Composition Scheme taxpayers. Due by April 30th of the following financial year. Quarterly tax payment is made via Form CMP-08 by the 18th after each quarter.

GSTR-5 – For non-resident foreign taxpayers doing business in India. Due by the 20th of each month.

GSTR-5A – Monthly summary for Online Information and Database Access or Retrieval (OIDAR) service providers. Due by the 20th of each month.

GSTR-6 – For Input Service Distributors reporting ITC received and distributed. Due by the 13th of each month.

GSTR-7 – TDS return under GST, documenting TDS deducted, due, and paid. Due by the 10th of the following month.

GSTR-8 – For e-commerce operators reporting supplies and tax collected at source. Due by the 10th of the following month.

GSTR-9 – Annual return summarising all periodical filings for the financial year. Due by December 31st of the following year.

GSTR-10 – Final return filed upon cancellation or surrender of GST registration.

GSTR-11 – For holders of a Unique Identity Number claiming refunds on purchases.

CMP-08 – Quarterly statement for Composition Scheme taxpayers declaring self-assessed tax liability.

ITC-04 – For manufacturers declaring goods dispatched to and received from job workers.

Key Return-Related Statements

GSTR-2A (Dynamic): A real-time, read-only view of your inward supplies as reported by your suppliers.

GSTR-2B (Static): A fixed monthly snapshot of inward supplies based on suppliers' GSTR-1 filings. Helps in matching and reconciling ITC claims.

Note: GSTR-2 and GSTR-3 have been deferred since September 2017 and are not currently required.

QRMP Scheme

The Quarterly Return Monthly Payment (QRMP) scheme is available to eligible taxpayers with aggregate turnover up to ₹5 crore. Under this scheme, returns are filed quarterly while tax is paid monthly using Form PMT-06. The Invoice Furnishing Facility (IFF) allows declaration of B2B sales during the first two months of each quarter.

Composition Scheme

Eligible traders and manufacturers with aggregate turnover up to ₹1.5 crore can opt for the Composition Scheme and pay GST at a fixed rate on turnover. Service providers with turnover up to ₹50 lakh are also eligible, subject to prescribed conditions. Composition taxpayers file annually via GSTR-4 and make quarterly tax payments through CMP-08.

Penalty for Late Filing of GST Returns

Filing is mandatory – Every registered taxpayer must file GST returns regularly, even if there is no business activity during the period.

Cascading delays – Missing one deadline blocks you from filing the next period's return, leading to a pile-up of pending returns.

Late filing penalty – Late filing of GSTR-1 results in a penalty that reflects in your GSTR-3B. The statutory late fee is ₹100 per day each for CGST and SGST, capped at a maximum of ₹5,000.

Interest on late tax payment – If you owe taxes and pay late, interest is charged at 18% per annum on the outstanding amount, calculated from the day after the due date until the date of payment.

Annual return late fees – For GSTR-9 and GSTR-9C, the late fee is capped at 0.25% of your turnover in the relevant state or UT, unless the government provides specific relief.

How BizReady Handles Your GST Filing

Dedicated GST Advisor

When you outsource your GST compliance to BizReady, a dedicated GST advisor is assigned to your business. This advisor understands your industry, reaches out to you every month, collects the necessary information, prepares your returns, and ensures timely filing.

Timely Reminders

Our platform sends you reminders well before filing deadlines, and your dedicated advisor follows up periodically to make sure no deadlines are missed and no penalties are incurred.

Monthly GST Status Reports

Your GST advisor shares monthly reports detailing the status of your return filings – including GSTR-1, GSTR-3B, ITC reconciliation, and actionable next steps.

End-to-End Support

From GST registration to monthly/quarterly return filing, annual returns, ITC reconciliation, and handling notices – BizReady manages the complete GST compliance lifecycle for your business.

Transparent Pricing

No hidden charges. You know exactly what your GST filing will cost before we begin.

Backed by Experts

BizReady's GST services are powered by experienced Chartered Accountants and tax professionals from LexVerge LLP, bringing big-firm expertise at SME-friendly prices.

Due dates for various types of GST returns