GST Return Filing

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Private Limited Company
@ 9999/-

Private Limited Company
@ 9999/-

Private Limited Company
@ 9999/-

Private Limited Company
@ 9999/-

Private Limited Company
@ 9999/-

Private Limited Company
@ 9999/-

Private Limited Company
@ 9999/-

Private Limited Company
@ 9999/-

Private Limited Company
@ 9999/-

GST Return Filing - An Overview

The Goods and Service Tax (GST) is an indirect tax charged on the supply of goods and services in India. Every taxpayer registered under GST has to mandatorily file its monthly/quarterly GST returns and an annual return based on the type of business. GST return contains detail regarding sales and purchase made by the taxpayer within a particular month or quarter. Tax authorities calculate net tax liability on the basis of monthly GST returns. Professionals from Legalite take care of all your filings so that you don’t have to worry about staying up to date with the laws and due dates.

Under GST, a registered taxpayer has to file GST Returns that mainly includes:

  1. Purchases
  2. Sales
  3. Output GST on sales
  4. Input tax Credit (GST to be claimed on purchases)

Online GST Return filing with Legalite

  • It is compulsory for every taxpayer registered under GST to file GST Returns. It is filed in 3 simple steps with Legalite.

Documents Required for GST Return Filing

  1. Invoices issued to persons with GSTIN or B2B Invoices

  2. Invoices issued to persons without GSTIN or B2C Invoices

  3. Purchase Invoices

  4. HSN Wise summary of all the goods or services sold

  5. Any debit or credit note

  6. Advance receipts (if any)

Penalty for filing late GST returns

In case of failure to file a GST return, a late fees of Rs.50/day (Rs. 25 each for CGST and SGST) is to be paid if a person has a tax liability. If you don’t have a tax liability the late fees is Rs.20/day. Rs.5000 is the maximum late fees capped.

In case of delay in annual return filing (GSTR9), the late fees is Rs.200/day (Rs.100 each for CGST and SGST)

General Queries

Is it mandatory to file GST Return?

Yes, it is mandatory to file GSTR-1 each month for every registered taxpayer. On the contrary, if you opt for the QRMP scheme, you have to file Quarterly returns only.

Is GST paid every month?

Yes off course, GST has to be paid every month on its due date.

Explain QRMP Scheme?

The QRMP Scheme applies to registered taxpayers who have an aggregate turnover equal to or less than Rs.5 crores in the previous financial year. This scheme allows businesses to file returns every quarter instead of every month. Monthly taxes has be paid irrespective of quarterly returns.

What is an E-way bill?

E-way bill is an electronic Waybill which a GST registered person should get for movement of goods in a vehicle exceeding Rs. 50,000.