Goods & Service Tax

GST Return Filling

GST return filing is completely an online process in India. GST filing is very easy and quick process. However, it is necessary that returns are filed correctly and error-free to ensure that GST credit can be passed onto the next stage. All you need is GST website login credentials to get started. Once your GST registration is done, to file GST return is mandatory. Non-filing of of the same entail heavy penalties.

GST Return filing Features

1. Dedicated GST Advisor

A relationship manager with experience in the sector that you operate in will guide you through the process of GST registration and filings. They will help with specific tasks such as uploading invoices and also ensure that your filing is taken care of on time.

2. Reminder to file GST returns

- Our platform ensures that you get timely reminders well in advance of the deadline beyond which penalty will be applicable. In addition to this, your GST advisor will also remind you periodically so that no deadlines are missed.

3. Monthly GST Status reports

Monthly reports detailing the status of GST return filing including GSTR- 3B and the way forward will be shared with the clients by the GST advisors.

4. GST returns

GST returns are prepared by Team In Filing, the in house GST software, so that it is error free and filed on time without hassles.

5. GSTR- 1 and GSTR- 3B filing

GSTR-1 is a quarterly return that should be filed by every business. Turnover determines the due dates for GSTR- 1. Business with sales upto Rs. 1.5 Crore can file their quarterly returns.

6. Input Tax Credit Reconciliation

Businesses will be enabled to benefit from the input tax reconciliation mechanism provided by the government to achieve neutrality in the incidence of tax and ensure that such input tax element does not enter into the cost of production or cost of supply of goods and services.

7. Standard accounting and cloud records

All of your financial transactions and invoices will be recorded in Team In Filings an in house database by accountants so that filing of all your returns including ITR, TDS and GST is seamless and cost-effective.

Types of GST Return filing

1. GSTR 3B – GSTR-3B is a monthly self-declaration, which should be filed by every registered person under GST. It is a simplified summary return of inward and outward supplies Due date of filing of GSTR 3B is 20th of the subsequent month. GSTR 3B once filed can not be revised.
2. GSTR 1 – GSTR 1 is the record of all sales. Under this form, the suppliers will have to report their outward supplies during the reporting month. According to the norm, all the registered taxable persons are required to file the same by the 10th of the following month or quarter.
3. GSTR 9 – The entities exceeding a turnover of 2 crores are required to file GST annual return in form GSTR-9.
4. GSTR-9A – Registered taxpayers who have opted for the GST Composition scheme are required to file GSTR-9A.
5. GSTR-9C – Form GSTR-9C is meant to file the taxpayers’ reconciliation statement about a particular financial year. This form is a statement of reconciliation between the Annual returns in GSTR-9 and the figures mentioned in the taxpayers’ Audited financial statements. GSTR 9C applies to the taxpayers who are required to obtain an annual audit of their accounts. GSTR 9C must be prepared and certified by a CA or Cost accountant. GST audit is applicable for a person having GST registration with an annual aggregate turnover of above two crores in a particular financial year.
6. GSTR 4 – GSTR-4 is a Return that has to be filed by a Composition Dealer. Unlike a normal taxpayer who needs to furnish 3 monthly returns, a dealer opting for the composition scheme is required to furnish 1 return which is GSTR-4 on or before 18th of the month subsequent to each quarter.

Process of Registration

1. Documentation – A Compliance Manager will get in touch with you to remind you about your due date of GST Filing and obtain your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for processing.
2. Return Preparation – Our expert team will verify documents and proceed with return preparation. All throughout the process, your dedicated Compliance Manager will keep you updated on the progress of the filing of GST Return.
3. Return Filing – We will get your return reviewed from you before filing. Once you approve it, we will file your GST returns online. Upon successful filing, we will send a confirmation email along with the acknowledgment receipt to your registered email ID.

Frequently Asked Questions

Yes, as long as you hold GST registration number, you need to file NIL returns, if there are not reportable transactions.

GST Composite scheme is for small traders and manufacturers who wish to avail exemptions under GST. Businesses with sales less than Rs. 150 Lakh can avail this scheme.

Return once filed cannot be revised. However, you may give appropriate adjustments in subsequent returns. Get in touch with us to know more on this.

We adopt a very simple Return filing process. Once you submit us the required documents, we usually file a return within 1 working day.

If DSC does not work, you can always file a GST return using other methods which involve an OTP from your registered phone number, your PAN information, and a DSC.

TeamIndia provides its services all across India.

Process of Registration

1. Documentation –  A Compliance Manager will get in touch with you to obtain your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for processing. Our team of experts will verify the documents. Our team of experts will verify the documents provided by you and take the procedure further.

2. Application – Once our expert team completes verification process of your documents, the team will proceed with registration formalities. All throughout the process, your dedicated Compliance Manager will keep you updated on the progress of GST Registration. We will apply for GST Registration online and provide you ARN immediately.

3. GST Certificate – Once we applied for the GST registration, the officer will verify the form and approve the filing of the GST application form. After successful filing of form your GSTIN and GST Certificate will be generated which means you will have your GST number. Note that It generally takes 3 to 7 days to get the GST number if the form and documents are correctly filed.