Every GST-registered firm in India is legally required to file a total of 26 GST returns every fiscal year.
It may appear difficult to comply with the requirements, but with the GST specialists’ excellent online advice, you will be able to perform all necessary tasks with ease.
Taxpayers are required to pay GST filings within a certain time frame since the Government of India uses these returns to assess the whole tax due in the country.
Who is liable for GST filings?
Any individual who runs a business is responsible for registering with the GST system and filing GST returns. The following are the major conditions for which registered business persons are required to file GST:
- Monthly GST returns
- Annual GST returns
- GST filing for inputs and purchases
- GST filing for output/supply
Late Fees/Penalty for Failure to File the Return on Time
If the taxpayer fails to file the GST returns by the due date stipulated by the GST department, the taxpayer must pay a late charge as well as interest at 18%.
The late cost will be Rs.20 per day if it is a NIL return, or Rs 50 if you fail to submit the return by the stated date.
Thus, it will cost roughly Rs.25 under CGST and another Rs.25 under SGST. The total sum payable will be Rs.50 per day. The late cost might be up to Rs.5000. The IGST does not collect any late fees.
Points to remember
- The scheduled date for GST filing can be altered or extended by issuing a notification from Govt. of India.
- Not filling the GST return by the due date would lead to a late fine and a liable amount with an interest at 18% per annum rate. The fined amount would be-
- For CGST – INR 100/day
- For SGST – INR 100/day
- The small business entities are required to file their GST return quarterly.
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Our Fees
- Dedicated GST expert
- GSTR-1 Return Filing
- GSTR-3B Return Filing
- Input Tax Credit Reconciliation
- Data modeling in Excel & Tally
- Phone, Chat & Email Support
- Any Accounting Software
- Upto 200 Entries Per Month
What are the benefits ?
Elimination of the cascade effect
GST filing streamlines the entire tax procedure by removing any tax-on-tax or cascading methods.
A well-structured tax system
corporate identities are permitted to pay the full tax amount all at once. The disorganized previous tax system has been replaced by filing GST returns.
Business opportunities
Businesses can now access a nationwide market without having to pay separate taxes to state governments thanks to the cooperation of the Indian tax system.
Helping the start-ups
Any business with an annual turnover of INR 5 lacs was required to pay the previous VAT, which caused issues for any new business. It makes perfect sense for start-ups to gain from the replacement of VAT with the filing of GST returns.
How we work?
01.
Fill-up the form & make the payments
02.
Get the call from our GST filings expert
03.
Upload the documents, details as requested
04.
Experts will take your approval for GST return filing process
05.
We will execute the entire GST filing procedure for your business
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