Heads Up! GSTR-3B, GSTR-5 and GSTR-5A due by October 20, 2019

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GSTR

With Diwali almost around the corner, the time to file your monthly GST return is also knocking on the door. For taxpayers filing their GSTR-3B, GSTR-5 and GSTR-5A for September 2019, the deadline is October 20, 2019. In case you miss this deadline and file your monthly GST return late, you will be liable to pay a penalty per day for the same.

Who should file GSTR-3B?

Every individual who has registered for Goods and Service Tax (GST) has to file their return GSTR-3B, including those persons with NIL returns. However, the following are not required to file GSTR-3B:

  • Non-resident taxable individual
  • Input Service Distributors & Composition Dealers
  • Suppliers of OIDAR

What is the penalty if you file GSTR-3B late?

Filing of GSTR-3B is compulsory even for NIL returns. Interest is payable @ 18% per annum on the amount of outstanding tax to be paid. The late fee applicable on delay in filing your GST return is as follows:

Reconciliation of GSTR-1 with GSTR-3B is needed to:

  • Rs. 50 per day of delay
  • Rs. 20 per day of delay for taxpayers having a NIL tax liability for the month
  • Know if any invoice is missed out or duplicated

Who should file GSTR-5?

Non-resident taxable individuals registered under GST are mandated to file their GSTR-5. Individuals that do not own a business or residence in India but do conduct transactions associated with the supply of goods and services or both are considered to be non-resident taxable individuals.

What is the penalty if you file GSTR-5 late?

Individuals that delay in filing their GST return will be liable to pay interest and a late fee. The interest is payable @ 18% per annum on the amount of outstanding tax to be paid. The late fee applicable on delay in filing your GST return is as follows:

  • Rs. 50 per day of delay
  • Rs. 20 per day of delay for taxpayers having a Nil tax liability for the month

Who should file GSTR-5A?

Non-resident providers of Online Information and Database Access or Retrieval (OIDAR) services that provide OIDAR services from outside India to non-taxable in India are required to file their GST return using the GSTR-5A form.

What is the penalty if you file GSTR-5A late?

Filing GSTR-5A is mandatory even for NIL returns. The penalty levied is as follows:

  • Rs. 200 per day of delay
  • Rs. 100 per day of delay for taxpayers having a NIL return for the month

File your GST return with us now!

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