Depending on the business type, every business registered for GST is required to file either monthly or quarterly GST returns along with an annual GST return. Such filings of GST returns are done online through the GST portal by the GST return filing services companies.
GST return is a document containing details of income/sales as well as expenses/purchases made by a GST-registered taxpayer. Filing GSTR-3B is mandatory for all GSTIN holders and is filed with tax authorities. Such returns allow tax authorities to compute net tax liability.
Under GST, the registered dealers have to file the GST returns, which generally look like:
When it comes to filing GST returns, you can use Clear GST software. This software enables one to import data from ERP systems like Tally, Busy, and Custom Excel, etc. being the best GST return filing agency as Service Plus, and we provide all the services under a single portal system. Tally users also have the option to use the desktop app to directly upload data and file their returns.
GSTR 1:
As a Service Plus, we managed GST filing service in India, report your goods and services sold. If the GST QRMP scheme applies to you can submit this monthly or quarterly.
It is a periodical summary of sales, input tax credit, and your tax payment. You have the option to file this on a monthly or quarterly basis.
CMP 08:
Statement and challan for tax payment (quarterly) for taxpayers in the composition scheme.
GSTR 4:
File this return annually if you are in the composition scheme.
GSTR 5:
This is a monthly return filed by non-resident taxable persons or we filed it on the behalf of the GST return filing company.
GSTR 6:
Filed by input service distributors to distribute eligible input tax credits; this is done monthly.
GSTR 7:
Government departments need to file the return on a monthly basis.
GSTR 8:
This is for e-commerce operators to report supply and tax collected at source, which needs to be filed on a monthly basis.
GSTR 9:
It is an annual return filed by a normal taxpayer.
GSTR 9C:
Reconciliation statement certified and filed annually.
GSTR 10:
If your GST registration is cancelled, you file this form once it is cancelled or surrendered.
GSTR 11:
Those having a UIN (Unique Identification Number) claiming refunds need to file this on a monthly basis in which they report inward supplies.
Filing GST returns is a legal requirement for registered businesses. By submitting them on time, individuals can avoid late penalties and comply with tax rules.
Businesses can claim credit for the taxes paid on the goods/services it procures, reduce overall tax liability, and positively impact the cash flow.
Regular GST filing through the best GST return filing agency improves the credibility of business, whose help in getting loans can be easier and also trusted by suppliers and customers.
Correct GST filing reduces the chances of compliance issues, enabling businesses to run smoothly without any legal impediments or financial penalties.
The tax-on-tax system is completely removed in GST and proper filing of returns ensures payment of the final tax amount only, thereby lessening the overall tax burden.
Being Service Plus, as the best managed GST filing service in India of returns is made straightforward via the online GST portal without calling for unnecessary paperwork or mistakes in tax calculation.
This transparency promotes government revenue collection, which in turn contributes to undeterred national development.
Incorrect or delayed filings for GST would lead to fines or legal issues. Regular compliance allows businesses to be protected from such penalties and additional costs.
The return of GST filing service in India offers essential financial data that enables businesses to monitor revenue patterns, control costs, and strategize for future growth.
Step 1: Visit the GST portal at www.gst.gov.in.
Step 2: As per your state code and PAN number, you will get 15 digits.
Step 3: Upload all the invoices, and you will receive a tracking number for each.
Step 4: Next, you need to file your outward and inward return with monthly summaries and correct ones.
Step 5: Submit your GSTR-1 (outward supply) returns on the 10th of every month.
Step 6: The details of outward supplies will get populated from GSTR-2A.
Step 7: Validate these details and issue credit or debit notes.
Step 8: File inward supplies of services and goods in GST-2.
With a click of the accept or reject button, the supplier is able to accept or reject the details appearing in GSTR-1A.
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Who is eligible for GST return?
Any registered business with a turnover of Rs 20 lakh or more must file GST returns. Businesses with a turnover of less than Rs 20 lakh can opt for voluntary GST registration and file returns as well.
What is a monthly return in GST?
A monthly return in GST refers to the GSTR-3B form. This form is used to declare the total sales and purchases during the month. It must be filed by the 20th of the following month to avoid late fees.
What is the difference between GSTR-3 and 3B?
GSTR-3 is a comprehensive form requiring detailed information about sales and purchases, while GSTR-3B is a simplified form that only needs basic information.
Can the GST return be revised?
There's no provision for revising a GST return. Any unreported invoices from the previous tax period should be included in the current month's return, with applicable interest, if any.
What is the penalty for not filing GST returns?
The GST Department tracks GST return non-filers, providing a list of defaulters to authorities for enforcement. Automatic late fees can be imposed on those who don't file GST returns or file them late.
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