GST Return filing Services in Mumbai Thane
GST Return Filing - an Overview
The Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in India. Every taxpayer registered under GST has to file GST returns. These returns are used to calculate the tax liability by the government. GST is an evolving system of taxation and the government keeps updating the rules and regulations around it. So, it is important to stay up-to-date to be able to file your returns correctly.
Our GST return filing service helps taxpayers like you to get it done easily. Our professionals will take care of the filings so you don’t have to worry about staying up-to-date with laws or watching due dates.
Benefits of GST Return Filing
GST eliminates cascading effect
Earlier there were many instances where tax on tax was paid for a single transaction. As GST did away with several other taxes like central excise duty, service tax, customs duty, and state-level value-added tax, you no longer are subjected to paying tax on tax. This saves you money.
Higher threshold
The threshold for GST is aggregate turnover exceeding 40 lakhs for sale of goods and aggregate turnover exceeding 20 lakhs for sale of services. This means small businesses falling below this threshold limit are not subject to GST.
Easier for startups and e-commerce businesses
The GST system has made it easier for startups and e-commerce companies to manage their taxes. E-commerce particularly suffered from different tax laws across different states which are now eradicated by GST.
More organised system
Before GST the tax filing system was disorganised. Now, all taxes are paid online and major hassles that were a part of tax filing have been eliminated in the process of introducing GST.
Documents Required
- Invoices issued to persons with GSTIN or B2B invoices.
- Invoices issued to persons without GSTIN or B2C invoices. This needs to be submitted only when its total value is above 2.5 lakhs.
- A consolidation of inter-state sales.
- HSN-wise summary of all goods sold.
- Any other debit or credit notes or advance receipts.
How to File GST Return Online with Aga & Associates
You can do your GST filing online through the GST portal. That being said, the process of GST return filing can be confusing and extremely exhausting, not to mention easy to go wrong and be penalised for it. At Aga & Associates, we strive to make it easy for you by breaking it down into 3 steps and taking care of most of the work.
- Intimation of due dates
We keep you informed about the upcoming due dates for return filings. This way we can ensure timely filing and avoid paying the penalty for late filing. - Details and documents upload
Filing returns requires a lot of details and documents (mentioned above). We provide you with your personalised dashboard for uploading the documents. The dashboard will allow you to maintain records with ease by simplifying the whole process. You can upload as and when transactions happen.
Once you have submitted the required details, our expert team will prepare your GST forms. - Review before filing
The filled forms will be sent to you for review and approval. We file the returns only after your approval. An ARN number will be generated and shared with you after the filing. Once the process is completed successfully, we will mail you an acknowledgement about the same to the registered email id provided by you.
Penalty for Filing Late
- When you miss the due date for returns, a late fee of ₹50/day (₹25 each for CGST and SGST) is to be paid if you have a tax liability. If you don’t have tax liability the late fee is ₹20/day. ₹5000/- is the cap on the late fee.
- In case of delay in annual return filing (GSTR-9), the late fee is ₹200/day (₹100 each for CGST and SGST).
Why Aga & Associates
- You don’t want to worry about keeping tabs on due dates, we will remind you
- Simplified system to keep your invoices and other documents in place and organised
- Experts file your returns and ensure you get a proper input tax credit and save money
- No more trying to make sense of changes in GST laws and processes, our experts file returns for many other businesses like yours and are always up to date with it
- Your filing with be error-free and you will save a lot of time and effort
- We bear any sort of penalties incurred due to any erroneous delay from our end.
GST Return FAQ
The QRMP scheme applies to registered taxpayers who have an aggregate turnover equal to or less than ₹5 crores in the previous financial year. Under this scheme, businesses will be allowed to file returns every quarter instead of every month. Taxes have to be paid every month.
It is not possible to revise the GST returns. That is why it is advised to get professionals to file your returns. Changes can be made to the details provided in the next period’s return form amendment section.
Yes, the process for GST registration is online completely. You can do everything in the personalised dashboard we provide for you.
We ensure that all your returns are filed on time and no delays happen as long as you provide us with all the details and documents in time. If there is an erroneous delay on our part, we will bear the late fees for the same.
No. The threshold for northeastern states (special category states) is lesser than other states. There the threshold is ₹20 lakhs for the sale of goods and ₹10 lakhs for the sale of services.
It is mandatory to file GSTR-1 each month for every registered taxpayer. On the other hand, if you opt for the QRMP scheme, you have to file quarterly returns only.
Yes, GST has to be paid every month on its due date. You first pay GST and then file returns.
EWay Bill is an Electronic Waybill a GST registered person should get for movement of goods in a vehicle whose value exceeds ₹50,000. You can do e-Way bill registration through the e-Way Bill Portal (https://ewaybillgst.gov.in/).