What is the Procedure to File Nil GST Return?

GST Return

GST return needs to be filed by every business owner who falls under the GST guidelines – irrespective of monthly profit or business turnover. Even if a taxpayer does not receive any invoices during a month, one must perform GST portal login and submit the NIL return.

Failure of filing GST return can incur a penalty of Rs. 100/day until your filing is complete. Hence, all GST registered taxpayers should submit their returns before the deadline.

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Why is filing NIL return under GST necessary?

The necessity behind filing NIL return GST arises when registered dealers have not turned out any outward taxable supplies. For returns like GSTR-1 and GSTR-3B, numerous details need to be filled via GST portal India by the taxpayer with regards to his/her outward supplies and tax liabilities. However, an individual with zero sales is not required to fill these details on the GSTN network.  

GST NIL returns filing procedure

There are 2 types of GST NIL return filings – GSTR-1 and GSTR-3B. Take a look at the steps to file your GST return online:

[A] For GSTR-1 filing

Step No 1: CompleteGST login into your account by putting valid credentials.

Step No 2: Navigate to the ‘Services’ tab and Select ‘Returns Dashboard’.

Step No 3: Select the month on which the return is to be filed.

Step No 4: Click ‘Prepare Return’ under GSTR-1 tab.

Step No 5: Enter the aggregate turnover details for Financial Year 2016-17 (i.e. 1st April ’16 to 31st March ’17 and 1st April ’17 to 30th June ’17).  

Step No 6: As you are filing GST NIL return of GSTR-1 through GST login, the other inputs must be left empty. Next, proceed to the ‘Generate GSTR-1 Summary’ tab positioned at the end of the return.  

Step No 7: You will be redirected to a new page where a preview of the return will be displayed. Now click on ‘Submit’.

Step No: 8: Your GSTR-1 NIL return will be filed after successful verification through EVC or DSC option.

[B] For GSTR-3B filing

Follow these steps to file GSTR-3B form online:

Step No 1: Complete your Goods and Service Tax login with valid credentials.

Step No 2: Navigate to the ‘Services’ tab and click on ‘Returns’ tile.

Step No 3: Select the month on which you are filing the return.

Step No 4: Click on the tab ‘Monthly Return GSTR-3B’ and select ‘Prepare Online’.

Step No 5: Answer the questions prompted to complete the details and access relevant sections. 

Step No 6: Confirm the dialogue box and verify the return file with DSC or EVC option. 

Step No 7: After successful verification, your GSTR-3B return will be filed.

For first-time registrars, you can follow the steps on how to use the online GST portal to register your business. It is mandatory to register online for Goods and Service Tax through GST portal login if a business’s turnover exceeds the threshold.

Performing this process online allows an individual to save a significant amount on time while registering for GST. Moreover, they can also access the details via Aadhaar number when applying for credit. For instance, if your SME requires working capital, you can obtain a Business Loan from lenders like Bajaj Finserv. During application, the documentation will require submitting IT returns, which will need one’s GSTIN and associated details.

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Such financial institution offers instant loan approval for eligible applicants. They also bring pre-approved offers for existing customers. The offers are applicable for business loans, personal loans, home loans, and numerous other financial products.

Another benefitting aspect of the GST regime is its technical support availability. It not only eliminates the cascading effect of the previous taxation system but also allows you to avail advances conveniently. You can carry out the registration and return filing process through GST portal login as mentioned above.

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