Is It Mandatory To File Nil GST Return?

Is it mandatory to file nil Gstr 3b?

Yes, nil GSTR-3 return must be filed by a taxpayer even if there were no business activity in a month.

Upon failure to file the GSTR-3 returns, a penalty of Rs.

100 per day shall apply.

The taxpayer would have to login to the GST Portal, verify the amount of tax payable, if any, e-sign and submit the GSTR-3 return..

How many times is the nil GST return acceptable?

Comparison with the current systemNew ReturnOld ReturnFor Nil Return when user has no purchase, no sales, no ITC to avail in any quarter of the Financial Year shall file one Nil return for every quarter.When there is no Outward tax liability in this case taxpayer will has to file NIL Return.8 more rows•Jan 5, 2021

What happens if you dont file GST?

If you don’t file any GST return then subsequent returns cannot be filed. For example, if GSTR-2 return of August is not filed then the next return GSTR-3 and subsequent returns of September cannot be filed. Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty (see below).

What is the minimum turnover for GST?

A business whose aggregate turnover in a financial year exceeds Rs 20 lakhs has to mandatorily register under Goods and Services Tax. This limit is set at Rs 10 lakhs for North Eastern and hilly states flagged as special category states. Also, the definition of taxable turnover has been changed to aggregate turnover.

How do I file my GST nil return without late fee?

The late fee would be Rs.75 under CGST and Rs.75 under SGST. If the above return was a return with ‘Nil’ tax liability then late fees would be Rs. 60 (20 per day 3 days)….Amount of Late fees applicable.For Nil Return filersName of the ActLate fees for every day of delaySGST ActRs 10*IGST ActRs 20*1 more row•Jan 4, 2021

Can I fill GST return myself?

GST returns can be filed online using the software or apps provided by Goods and Service Tax Network (GSTN) which will auto-populate the details on each GSTR forms. Listed below are the steps for filing GST return online: Step:1 Visit the GST portal (

Is it mandatory to file GST return every month?

Every registered person paying GST is required to furnish an electronic return every calendar month. … Such a document needs to be filed with the tax authorities in order to pay tax to the government.

Is it compulsory to file nil GST return?

Introduction to Nil Return in GST GST return has to be filed by every registered person under GST irrespective of business turnover or profitability in a month. … Hence, all taxpayer having GST registration must submit NIL GST return before the deadline.

Is nil return mandatory?

Nil tax return is filed to declare to the Income Tax Department that you fall below the taxable income and therefore did not pay taxes during the year. When you are just at the beginning of your career and your total annual income is less than Rs2. 5 lakhs per annum, filing income tax returns is not mandatory.