Yes, you can file your GST return yourself directly through the official government GST portal (India) or CRA My Business Account (Canada). The process involves logging in with your credentials, uploading invoice data (GSTR-1/GSTR-3B), calculating tax liability, and submitting the return online, which is designed to be user-friendly.
Do you need a Chartered Accountant (CA) for GST filing? No, a Chartered Accountant (CA) is not required to submit a monthly Goods and Services Tax (GST) return in India. The GST return filing procedure is made to be simple to use and enables taxpayers to submit their returns on their own.
Manual> Filing Nil Form GSTR-1 Online by Normal Taxpayers
How to file
To file your first GST return, log into the GST portal, navigate to the return section, and fill out the required forms such as GSTR-1 and GSTR-3B with accurate details of your transactions. Can I file my GST return myself? Yes, you can file your GST return yourself through the GST portal.
The biggest tax mistakes people make include filing late, math errors, incorrect personal info (like Social Security numbers), forgetting deductions/credits (like EITC), misreporting income, not signing forms, and making errors with bank details for direct deposit, all leading to delays, penalties, or missed savings, with using tax software or professionals helping avoid these common pitfalls.
If your GST turnover is below the $75,000 threshold, you may choose to register. But if you do, regardless of your turnover, you must: include GST in the price of most goods and services you sell. claim GST credits for most business purchases you make.
Documents Required for GST Return Filing
Late submission penalty. A late submission penalty of $200 is imposed immediately when the GST return is not filed by the due date. A further penalty of $200 is imposed for every completed month that the GST F5/F8 return remains outstanding. The maximum penalty amount for each outstanding F5/F8 return is $10,000.
On average, CAs may charge anywhere between Rs. 2,000 to Rs. 15,000 per year for filing GST returns.
Filing GST returns is a simple task as taxpayers just need to follow a few steps and furnish relevant details in the prescribed formats.
You must register for the GST/HST. Your effective date of registration is no later than the day of the supply that made you exceed $30,000. You have to start charging GST/HST on the supply that made you exceed $30,000.
Therefore, upon non –filing of GST returns or missing out the GST due dates, the GST law prescribes a general penalty. The maximum penalty that may be imposed is Rs. 5,000. The taxpayer will be required to pay interest on late payment of GST at a rate of 18% annually in addition to the late payment penalty.
GST Return Filing by Accountants is available at ₹998 per month, covering GSTR-1 and GSTR-3B filings. Expert accountants manage return filing using LEDGERS GST software to ensure smooth and hassle-free compliance.
What is the Minimum Turnover Limit for GST Registration? Businesses are required to register for GST and pay tax on their annual turnover if their annual revenue exceeds Rs. 40 lakhs in the case of goods supplied and Rs. 20 lakhs for the supply of services.
GST Return Fees: Rs. 1,000 to Rs. 3,000 per month. Professional Filing Services: Rs.
GSTR-4 (For Composition Scheme Businesses)
This is for small businesses that have chosen the GST Composition Scheme (yearly sales up to ₹1.5 crores, or ₹75 lakhs in special states). These businesses pay a small, fixed percentage of their sales as tax and have simpler rules. How Often to File: Annually.
You can file the GST return online as follows.
If your business is a part-time gig, or you don't earn more than $30,000 per year in revenue yet, you'd be considered a “small supplier” and won't need to charge your clients for GST/HST. If business picks up, or you decide to take the plunge and go at it full-time, you'll need to start charging these taxes.
Preparing Your GST Return
We recommend assembling supporting documents, such as sales invoices and expenses, and records of GST collected and paid. You should also calculate your output taxes and input taxes. Accounting software such as Xero can streamline this process and improve tracking and reporting.
An offender not paying tax or making short payments must pay a penalty of 10% of the tax amount due subject to a minimum of Rs. 10,000. Consider — in case tax has not been paid or a short payment is made, a minimum penalty of Rs 10,000 has to be paid. The maximum penalty is 10% of the tax unpaid.