The introduction of Goods and Services Tax (GST) by the government of India on July 1, 2017 created a spur all around the country; GST replaced the multiple taxation system of India with just one common tax. Talking about GST it has created a wider tax base in India and the number of individuals as well as business organizations opting for GST registration is much higher than what we saw for the previous tax regime. Filing GST return is one of the major compliance under this system; returns must be filed thrice in a month/quarter and once at the end of the financial year.

A registered dealer must file GST returns for anything which includes:

  • Sales
  • Purchases
  • Output GST (on sales and services)
  • Input tax credit (on purchase)

The process to file GST return is completely online and uncomplicated. The registered users can click here and access their portal in order to go to the returns page and fill the respective forms with the required information. The online GST return filing must be done carefully as there is no provision to revise the returns and all the tax invoices that went unreported in the previous cycle must be included in the current cycle.

Depending on the nature of the taxpayer various different returns are required to be paid which can be tricky as well as time consuming. We at Starters’ CFO are a team of professional who will ensure that the entire process is smooth and you don’t end up paying late penalties.

NOTE- GST sales and purchase invoices are must to file GST returns.

Timeline of GST return filing:

GSTR-1

  • To be filed by 10th of every month.
  • Contains details of outward supplies.

GSTR-2

  • To be filled by 15th of every month.
  • Contains details of inward supplies.

GSTR-3

  • To be filled by 20th of every month.

Annual GST*

  • To be filled by 31st of December.

* The appointed chartered accountant must fill a GST reconciliation letter and submit it along with this.

At starters’ CFO we are a team of Chartered Accountants, Lawyers and Company Secretaries who will help you through the process of GST filling.

Getting Ready:

We will make sure you have all the required information and documents before filing the returns and also keep track of all the taxes that need to be filled.

Filing:

Our team will make a detailed report of the filings and get it reviewed by you before filing it online. Once filed successfully we will acknowledge you through your registered email ID.

Reminder:

We will keep you updated through timely reminders so that there is no need for paying late penalties.

FAQs :

GST returns are the goods and services tax return forms that taxpayers of all types have to file with the income tax authorities of India under the new GST rules.

A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability. Under GST, a registered dealer has to file GST returns that includes: Purchases. Sales.

GST is applied on goods and services at the place where final/actual consumption happens. GST is collected on value-added goods and services at each stage of sale or purchase in the supply chain.

Government notifies due date for filing GST returns from July 18-March 19. The due date for filing summary sales return of GSTR-3B and payment of taxes for every month between July 2018 to March 2019 is the 20th day of the succeeding month.

Filing GSTR 3B form is mandatory for all those who have registered for the Goods and Services Tax (GST).

No revised returns permitted under GST

According to the GST Act, late fees of Rs. 100 per day per return will be levied on companies in case of late filing.

a. CGST is a Central Goods and services tax.

b. SGST is a state Goods and services tax.

c. IGST stands for an Integrated Goods and services tax.

d. UTGST.

Through the GST Bill, the introduction of a multi-tier tax slab will see four tax slabs applicable to commodities and services in India – 5%, 12%, 18% and 28%.


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