1. What is a Nil GST Return?
A Nil GST return is filed when there are no sales or purchases (outward or inward supplies) during a particular tax period. This means that the taxpayer has no transactions to report for that period.
2. Who needs to file a Nil GST Return?
All registered taxpayers under GST are required to file returns, even if there are no transactions during the period. This includes regular taxpayers, SEZ units, and casual taxpayers.
4. What are the conditions for filing a Nil GST Return?
To file a Nil GST return, the following conditions must be met:
- No outward supplies (sales) during the tax period.
- No inward supplies (purchases) on which tax is payable under reverse charge.
- No other liabilities to report.
- No amendments to be made to previous returns.
5. What happens if I don’t file a Nil GST Return?
Failure to file a Nil GST return can result in penalties and late fees. It is mandatory to file returns even if there are no transactions, to maintain compliance with GST regulations.
6. Can I file a Nil GST Return for multiple periods at once?
No, you need to file Nil GST returns for each tax period separately. Each return must be filed within the due date for that specific period.