You must read this article to learn about GST/HST Netfile – How to File GST HST Netfile, Dates, and Guide if you are a business entity operating in Canada.
GST/HST Netfile
Registrants can use the GST/HST NETFILE program to electronically file their goods and services tax/harmonized sales tax (GST/HST) returns and qualifying rebates directly to the Canada Revenue Agency (CRA). For all GST/HST registrants, with the exception of those whose accounts are managed by Revenu Québec, the facility is accessible.
Registrants access the online forms and complete the required information on the CRA website through the Ready to File page. This option offers faster returns—within 7 days—and quick confirmation, which is a big plus. To find out more about GST/HST Netfile and its procedures, please read this article.
What is GST/HST?
Provincial sales taxes and the goods and services tax (also known as the harmonised sales tax, or HST) are the two types of sales taxes that are applicable in Canada. Value-added taxes operate on an input/output basis, such as the GST/HST. These taxes are indirect and are commonly referred to as consumer taxes or GST/HST.
These taxes are applied to the majority of goods and services produced or consumed in Canada, with a few notable exceptions such as the grocery industry. When a taxpayer buys goods or services, they are responsible for paying the input tax, also known as GST/HST. When a taxpayer sells its goods to customers, it also collects the output tax, also known as GST/HST, from those customers. The remaining amount is sent to the taxing authority by the taxpayer after deducting the input tax from the output tax.
GST/HST Netfile Details
| Article Name | GST/HST Netfile |
| Country | Canada |
| Responsible Agency | Canada Revenue Agency |
| Purpose | Online filing of GST/HST returns. |
| GST/HST Filing Due Date | July 15 of the next year for annual filers. |
| CRA Online Portal | https://www.canada.ca/en/revenue-agency.html |
How to File GST HST Netfile?
Your GST and HST Netfile submissions can be made online. The most efficient way to submit your GST or HST netfile is through the CRA’s netfile service. Visit the CRA website to begin the return filing process. If you are eligible to use GST/HST NETFILE, fill out the online form on the Ready to File page.
You may access GST/HST NETFILE by selecting the “File a return” option in My Business Account. This is the easiest and quickest method to file your tax return. You have two options for paying your returns: the CRA’s My Payment service or online banking.
After you NETFILE your return and it is accepted and goes through a preliminary review, the CRA will send you a confirmation number. Usually, it takes a few seconds for the confirmation number to show on the screen. You should keep the confirmation number for your documentation.
GST/HST Netfile Dates
GST/HST registrants can choose from monthly, quarterly, or annual “filing periods.” Your payment due date is affected by the GST/HST filing period. Monthly and quarterly filers must file the return and payment within one month of the end of the reporting period. June 15, the year following the relevant tax year, is the deadline for individuals who file an annual return.
It is imperative that you submit your GST/HST Netfile return on the official CRA website prior to the deadline. If not, you may be subject to penalties from CRA. If you are unable to submit your GST/HST netfile amount within the allotted time, you may also ask for an extension.
GST/HST Netfile Guide
When submitting your GST/HST return through Netfile mode, you should take into consideration the following points:
You need to be using a valid business number. Make sure the CRA has received your company’s GST/HST registration.
You need to have a login ID and password for the CRA. You have to log into your CRA account before you can use Netfile. Permission to file on your behalf can also be granted to another person.
The relevant returns for the time frame in which your GST/HST return is being filed.
The full financial statements for your business need to be prepared. Data from your annual or quarterly financial statements must be compiled.
After you receive the confirmation number, the CRA might get in touch with you to request more details or to confirm certain facts. If not, after processing your return, the CRA will send you a Notice of Assessment.
FAQs
When will CRA receive and process my tax return?
Once you have your confirmation number from the CRA, they will have your return. The CRA starts processing your return right away, and it may take up to eight business days to complete the files.
Is GST/HST NETFILE safe and private?
Yes, since the Canadian government offers the GST/HST Netfile facility through its official portal CRA, it is secure and confidential. The website uses advanced encryption technologies and security measures to protect your personal information at all times.
We appreciate your faith in our portal and your time spent reading GST/HST Netfile with us. For additional articles on a variety of taxing procedures, please peruse our website.