Simplify Compliance. Optimize Your Tax Process
Understanding GST Returns
What is a GST Return?
A GST return is a document that taxpayers registered under the GST system must file with the tax authorities, detailing their income, expenses, and tax liabilities. This process ensures transparency and enables the government to track tax compliance effectively.
Why Timely GST Return Filing is Crucial
Avoid Penalties
Late or incorrect filings can result in fines and interest charges, creating unnecessary financial burden for your business.
Maintain Compliance
Regular filings are mandatory under the GST regime, ensuring your business adheres to legal requirements and maintains good standing.
Facilitate Input Tax Credit
Accurate filings allow for seamless claiming of input tax credits, reducing overall tax liability and optimizing your cash flow.
Our GST Return Filing Services
✔ GST Registration Assistance
Guidance through the GST registration process to ensure your business is correctly registered and compliant from the start.
✔ Monthly/Quarterly GST Return Filing
Preparation and submission of GSTR-1, GSTR-3B, and other applicable returns, tailored to your business's specific requirements.
✔ Annual GST Return Filing
Compilation and filing of annual returns (GSTR-9) to provide a comprehensive overview of your yearly transactions.
✔ Reconciliation Services
Matching purchase and sales data to identify discrepancies and ensure accurate input tax credit claims.
✔ Advisory on GST Compliance
Ongoing support to address GST-related queries and ensure adherence to evolving regulations.
Our GST Return Filing Process
Data Collection
Gathering necessary financial records and transaction details to ensure comprehensive return preparation.
Return Preparation
Preparing the relevant GST returns based on verified data following all regulatory requirements.
Return Preparation
Preparing the relevant GST returns based on verified data following all regulatory requirements.
Client Review
Sharing prepared returns for your approval and addressing any concerns before submission.
Return Filing
Submitting the approved returns to the GST portal within the stipulated deadlines to ensure compliance.
Common Questions About GST Return Filing
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Who is required to register for GST?
Businesses involved in the supply of goods with annual turnover exceeding ₹40 lakh and service providers with turnover over ₹20 lakh must register for GST. Lower thresholds apply in special category states.
Who is required to file GST returns?
All registered businesses and individuals under the GST regime must file returns, regardless of turnover or activity during the period.
What are the different types of GST returns to be filed?
The main types of GST returns include:
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GSTR-1 – Details of outward supplies of goods or services
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GSTR-3B – Summary return for declaring GST liabilities
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GSTR-9 – Annual return for regular taxpayers
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GSTR-9C – Reconciliation statement and certification by a CA for applicable businesses
When is a GST audit required?
A GST audit is mandatory when a registered taxpayer’s aggregate turnover exceeds ₹5 crore in a financial year. It includes reconciliation of GSTR-9 with the audited financial statements.
What happens if I file my GST return late?
Late filing attracts penalties of ₹50 per day for GSTR-3B and GSTR-1, and ₹100 per day for GSTR-9, subject to a maximum cap. Additionally, interest may be charged on any outstanding tax liability.
Can I revise a filed GST return?
Currently, the GST system does not allow for revision of returns once filed. Corrections can be made in subsequent returns.
What is Input Tax Credit (ITC)?
ITC allows businesses to reduce their tax liability by claiming credit for the GST paid on purchases related to their business operations.
How can I track the status of my GST return?
You can track the status of your return by logging into the GST portal and navigating to the ‘Returns Dashboard’ section.
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