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GST Filing
GST Filing Registration

  • The basic meaning of “GST Return Filing” is “maintaining financial accounts” per year. A GST return is a statement of financial activity by a taxable person for a prescribed period. This allows a taxable person to self-assess the tax they owe for a specific period. Bookkeeping and GST Return Filing can be divided into several fields including financial GST Return Filing, managing general GST Return Filing, professional GST Return Filing, chartered accountant, auditing, tax GST Return Filing and cost GST Return Filing. 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. In the GST regime, any regular business has to file two monthly returns and one annual return. This amounts to 26 returns in a year.

    Benefits  Of  GST  Filing  Registration :

    ●GST eliminates the cascading effect of the tax.
    ●High Liquidity.
    ●Higher threshold for registration.
    ●Composition scheme for small businesses
    ●The Simple and easy online procedure
    ●The number of compliances is lesser
    ●Defined treatment for E-commerce operators
    ●Improved efficiency of logistics
    ●The Unorganized sector is regulated under GST

  • GST Filing Registration Process :
    1. Make sure that you are registered under GST and have the 15-digit GST identification number with you based on your state code and PAN. In case you do not have this number, first register online to get it.

  • Required Documents:

    • ID Proof
    • Address Proof
    • Photos

FAQ

 

Every registered taxable person who crosses the threshold limit for payment of taxes.

 

A GST return is a statement of financial activity by a taxable person for a prescribed period. This allows a taxable person to self-assess the tax they owe for a specific period.

 

Late fees are Rs. 100 per day per Act. So it is 100 under CGST & 100 under SGST. Total will be Rs. 200/day. Maximum is Rs. 5,000. There is no late fee on IGST.

 

Any regular business has to file two monthly returns and one annual return. This amounts to 26 returns in a year. In the GST return, one has to manually enter details of one monthly return GSTR-1. The other return GSTR 3B will get auto-populated by deriving information from GSTR-1 filed by you and your vendors.

 

GSTR-1:- monthly return for outward supplies GSTR-2:-  monthly return for inward supplies GSTR-3:-  monthly return containing details from other monthly returns filed  the taxpayer GSTR-4:-  quarterly return GSTR-5: – variable return to be filed by Non-Resident Taxpayers GSTR-6:- monthly return to be filed by input service distributors.