GST Returns

A GST return is a document that contains details of all transactions related to goods and services, including sales, purchases, and taxes paid. It's mandatory for businesses registered under GST to file returns periodically.

Our GST Returns Filing Assistance Includes:

• Data Collection: We collect and organize your business data, including invoices, receipts, and other relevant documents.
• Return Preparation: Our experts prepare your GST returns, ensuring accuracy and compliance with GST regulations.
• Return Filing: We file your GST returns on time, avoiding any late fees or penalties.
• Reconciliation: We reconcile your GST returns with your financial statements, ensuring accuracy and consistency.
• Compliance: We ensure compliance with GST regulations, including timely payment of taxes and submission of returns.

When do I need to file my GST returns?

• GSTR-1: Monthly or quarterly, depending on your turnover.: Monthly or quarterly, depending on your turnover.
• GSTR-3B: Monthly or quarterly, depending on your turnover.
• GSTR-9: Annually (for businesses with turnover above the specified limit).

What happens if I don’t file my GST returns on time?

Late filing attracts penalties and interest. If returns are not filed, your GST registration can be suspended, and you may lose eligibility to claim Input Tax Credit (ITC). The penalty can be ₹50 per day of delay (₹20 for "Nil" returns) and interest on late payment of taxes.

What is Input Tax Credit (ITC), and how does it relate to GST returns?

Input Tax Credit (ITC) allows businesses to claim credit for the taxes paid on business-related purchases. This reduces the tax burden on the final product or service. ITC must be correctly reported in the GST returns to be claimed.

Let us handle your GST returns, and you focus on growing your business!