Step By Step Guide of Filing NIL GST Return in India

Paying GST is mandatory for businesses that are involved in products and services. It is easy to do GST Registration from the online site. All you need to do is to visit the official GST portal and login to your account.

NIL GST return is a kind of normal GST return. It is a kind of tax liability filed by a person who has no inward or outward supply.  You can file a NIL return from the official GST portal every month. The process of different types of GST Return Filing in India is somewhat similar. All the returns are filed from the GST portal with the same process.

Is nil return required under GST?

Many businessmen ask this question. Yes, the businessmen with GST Registration in India must file NIL returns from the official GST portal. Filing NIL GST returns can be done on the 10^th, 15^th, and 20^th of every month. This return is necessary even if businessmen do not perform any activity or do business transactions in a month. If any businessman fails to file NIL returns on the GST portal, he has to pay a heavy penalty.

Do I have to file Nil GSTR3B return?

If you have GST registration, it is necessary to file a Nil GSTR3B return from the GST portal. This return is necessary even if the businesses do not do any transactions or sell any item. If you fail to file this return, there is a heavy penalty each day.

Do I have to file a Nil GSTR-1 return?

Yes, all the taxpayers with GST registration must file NIL GSRT-1 return from the official GST portal. This return should be paid by all the taxpayers even if there is no transaction or sale in a month. Failure to file a Nil GSTR-1 return attracts a penalty of INR 100 per day.

What is the procedure to file a Nil GSTR-1 return?

It is a simple procedure to file a Nil GSTR-1 return. You should give all the information related to sales transactions of previous months while filing the Nil GSTR-1 return. Apart from that, you must also upload invoices available on the GSTN portal. If there are no sales in a particular month, you must mention it on NIL transactions while filing this return. So, the simple way to file NIL GSTR-1 returns is:

·        Login into the official GST portal

·        Mention NIL transactions

·        E-sign and file the returns from the portal 

Do I have to file a nil GSTR-2 return?

Yes, all the taxpayers with GST registration must file Nil GSTR-2 return every month. This return is mandatory even if there is no sale or transaction in any month. Failure to file this return will charge a penalty of INR 100 every day.

Filing Nil GSTR-2 includes the same documents that you submitted while filing Nil GSTR-1 returns. If you had no transactions or purchases in a month, the automated form of GSTR-2 will show no transactions. You can verify this form, e-sign, and file a return easily.

Do I have to file a nil GSTR-3 return?

Yes, it is necessary for every taxpayer with GST registration in India must file a Nil GSTR-3 return. You must file this return even if you did not carry out any business transaction in a month. If you fail to file this return in any month, you will have to pay a penalty of INR 100 per day.

Because of the automated process, the filing of Nil GSTR-3 returns is very simple and time saving. Like other return filing processes, you have to login to the GST portal. Then you have to verify the tax payable on the site and e-sign the form and completethe GST Return Annual Filing process by submitting the form.

Procedure for Filing NIL GSTR-3B Return

Today, it is very comfortable to file a NIL GSTR-3B return. This process can be done directly from the GST portal. A few simple steps must be followed by a person with GST registration such as:

1. log in to the GST portal

The first step is to visit the GST portal and login into it by entering your details. Now, you must click on the option “Return Dashboard”.

2. Month of filing

You have to file GSTR-3B for July and August. So now, you must choose July or August from the drop-down menu. Then you have to click on “Continue” to move further with the process fi filing NIL GST returns.

3. The next step is to click on Prepare online in the section of Monthly Return GSTR-3B.

4. The next step is to check all the fields. If all the fields are nil in the GSTR-3B section, you must click on the save option. It is easy to save GSTR-3B returns to save progress.

5. After completing the details and saving the return, you have to click on the option Preview. Now, you can submit GSTR3B returns on the portal.

6. You will get a final confirmation after submitting GSTR3B details. Now, you have to click on confirm and submit the returns. Now, you cannot change any information or detail as you clicked on confirmation.

7. GST portal will offer you an option with the title “Agree” with a checkbox. You have to click on Agree and digitally sign the GSTR3B return to file the returns.

These are some of the easiest steps to file NIL GST returns from the GST portal. This return must be paid even if you did not sell any product or service in a month. All the taxpayers with Company Registration in India must file these different types of Nil GST returns every month.

If you want more professional work, hire tax consultants or professionals that file annual returns every year. They will help you to file Nil GST returns from the official portal of GST. Hiring professional services will save you from paying heavy penalties every month.