GST Return Filing
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GST Return filing is mandatory even if there is no transaction during the tax period. Non-filing of NIL Return would attract a penalty from GSTIN. We have a very attractive package for NIL Return filing. Call us to get started.
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Introduction
GST Return Filing Services in India
Businesses that are registered under GST have to file the GST returns monthly, quarterly, and annually based on the business. Here it is necessary to provide the details of the sales or purchases of the goods and services along with the tax that is collected and paid. Implementation of a comprehensive Income Tax System like GST in India has ensured that taxpayer services such as registration, returns, and compliance are in range and perfectly aligned.
An individual taxpayer filing the GST returns has to file 4 forms for filing the GST returns such as the returns for the supplies, returns for the purchases made, monthly returns, and the annual returns.
Who should file the GST returns?
- A person having a valid GSTIN has to compulsorily file the GST returns.
- Also, a person whose annual turnover is crossing Rs. 20 lakh has to obtain a GST registration and file the GST returns mandatorily.
- In the cases of Special states, the limit for the annual turnover is Rs.10 lakh.
Benefits
Benefits Of GST Return Filing
GST Return Filing through a Single Form
There are different types of taxes collected under the GST Act, i.e. IGST, CGST & SGST, and all the three taxes paid or collected can now be recorded in a single form.
Better Regulations and Accountability
Before the introduction of GST, the tax filing system was quite unorganized; all the taxes were paid conveniently, and the major inconvenience that was a part of tax filing has now been eliminated.
Start-up Benefits
Before GST, start-ups with an annual turnover of 5 lakh had to pay VAT which was very difficult for a start-up during the initial stages.
Eliminates the Cascading Effect
The introduction of GST into the Indian tax system has removed several other taxes like central excise duty, service tax, customs duty, and state-level value-added tax.
Process
GST Return Filing Process In 6 Easy Steps
Login
Login To Cognizant Advisors Website.
Upload Documents
Upload The Required Documents Online
Place Order
Place Order And Pay Online
Document Checklist
Documents Required for GST Return Filing Online
Invoices
Invoices issued to persons with GSTIN or B2B invoices
Invoices
Invoices issued to persons without GSTIN or B2C invoices
Consolidation
A consolidation of inter-state sales
Id Proof
Basic information such as PAN, Aadhaar card number, and detail of the current address will be required.
Bank Account Details
Bank account details will be required of the given financial year. For ITR filing, it is a mandatory disclosure.
Unique Identification Number
Unique Identification Number and Name of the persons having UIN
Faq
Frequently Asked Questions (FAQ)
After income tax return filing, a document is received by you which is ITR V. One has to take a print of that, sign and send within 120 days of income tax return filing to the Income Tax Department.
Taxes can be directly paid by the taxpayers on the website of the Income Tax Department using Net-banking with challan 280.
TDS deduction and Income Tax return filing are not the same things. Income Tax return is filed to show that all the taxes have been paid by you.
In order to prevent any kind of fraud, you should not share your PAN and password details. You can take the assistance of chartered accountants and CA firms for income tax return filing. We have a team of dedicated chartered accountants for this purpose.
TDS deduction and Income Tax return filing are not the same things. Income Tax return is filed to show that all the taxes have been paid by you.
In order to prevent any kind of fraud, you should not share your PAN and password details. You can take the assistance of chartered accountants and CA firms for income tax return filing. We have a team of dedicated chartered accountants for this purpose.
You will have a dedicated GST Accountant assigned to your business. Each month, the Accountant will collect all the information and file your GST returns.
Yes, for clients who subscribe to our GST return filing package, we provide support for GST payment challan generation.
