What is GST Return?
Hello taxpayer, we know you are looking for process of GST Nil Return, but before we start any explanation lets begin with basic detail and understand what is GST Return.
Every registered taxpayer under GST has to file return for every tax period. It may happen that during a certain period, he had no transactions i.e. no sale, no purchases or any other transaction.
In such scenario, a question arises whether he has to file GST returns for that period or not.
As per GST filing process law, every registered person is liable to file returns even if no transactions (sale, purchase, etc.) has taken place during that particular period for which the return is to be filed.
What is GST NIL Return?
From above, we can understand that NIL return is a return that is required to be filed by a registered person when he does not have any transaction for a particular month. otherwise it lead to GST late fees or GST penalty.
In this article we will understand how to file NIL GST return.
Watch our video on NIL Return Filing
Two types of return you can file
In GST act mention in detail about GST return filing procedure.
Under the current GST system, Nil return is required to be filed for both GSTR 1 return and GSTR 3B filing.
In case returns are not filed, penalty for delayed filing shall be paid by the taxpayer. So, it is important to understand the process of how to file GST nil return and its types.
Procedure for filing Nil GSTR-3B Return
- 1Login into GST Portal and select the month for which GSTR-3B return filing is to be filed from Returns dashboard.
- 2After selecting GSTR 3B – prepare online, a list of questionnaire will appear.
- 3For Nil return, select Yes for question no 1 i.e. do you want to file nil return?
- 4Once you select yes, you will be directed to E-sign page where return can be filed through EVC or Digital Signing Online
- 5File nil return using any of the options mentioned above.
How to file GSTR-1 Nil return
- 1Login into GST portal and select the month for which GSTR 1 is to be filed from Returns dashboard
- 2Select prepare online for GSTR1 filing
- 3Go to section B2C (Others) under GSTR -1 Other Details and provide the required details
- 4Select Place of Supply and update zero under all other fields
- 5Click on Save and then go back to GSTR 1 Dashboard
- 6Click on Generate Summary
- 7Once the summary is generated, verify the details and click on Submit button
- 8File the return using EVC or Digital Signature Certificate option
Penalty for Late Filing of Nil Return:
Lets understand the GSTR-1 late fees and GSTR-3B late fees for GST nil return.
If taxpayer having tax liability for the particular tax period, then there is penalty for late filing of GSTR-1 & GSTR-3B
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