Process of Registration by Taxhub
Upload the basic Documents
Choose your Requisite plan and pay the Fees
Taxhub will Prepare GST Return
Taxhub will send Computation for checking
Get Acknowledgement of GST Returns
What is GST Return?
GST return is a document that will contain all the details of your sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). Once you file GST returns, you will need to pay the resulting tax liability (money that you owe the government).
Before going into the process of GST filing, it is important to understand what GST return means for business owners and service providers. GST returns essentially stands for filing of all GST. Every individual who is covered under the GST Act must produce their income to the Tax Department of India. This is known as return and it includes details of every sale and purchase.
What are the types of GST Return?
Every business entity which has been registered under the GST Act has to be filed the following GST Return on or before specified due dates:
GSTR-1: Monthly
• Details of outward supplies of taxable goods and/or services affected.
• Due date of GSTR-1 is 11th of the next month with effect from October 2018.
GSTR-3B: Monthly
• Simple Return in which summary of outward supplies along with Input Tax Credit is declared and payment of tax is affected by the taxpayer.
• Due date of GSTR-3B is 20th of the next month.
GSTR-4: Quarterly
• Return for a taxpayer registered under the composition levy.
• Due date of GSTR-4 18th of the month succeeding quarter.
GSTR-5: Monthly
• Return for a Non-Resident foreign taxable person.
• Due date of GSTR-4 is 20th of the next month.
GSTR-9: Annually
• Annual Return for a Normal Taxpayer
• Due date of GSTR-9 is 31st December of next financial year*
GSTR-9C: Annually
• Annual Return a taxpayer registered under the composition levy anytime during the year
• Due date of GSTR-9 is 31st December of next financial year*
Basic Documents Required for Filing GST Returns
- Sales/Service Invoice raised during the month
- Purchase/Services availed during the month.
- Sales Return during the month
- Purchase Return during the month
- Debit Note & Credit Note raised during the month
- Any other information of GST nature.
23,999/-
All Inclusive Fees
| (Upto Turnover of Rs 20 Lakhs) |
| Annual Package |
| Book Keeping |
| GST Return Filing |
| GSTR-1, GSTR-3B, GSTR- 2A, 2B Matching |
| Assistance in tax calculation and payment |
| Dedicated Account Manager |
47,999/-
All Inclusive Fees
| (Upto Turnover of Rs 50 Lakhs) |
| Annual Package |
| Book Keeping |
| GST Return Filing |
| GSTR-1, GSTR-3B, GSTR- 2A, 2B Matching |
| Assistance in tax calculation and payment |
| Dedicated Account Manager |
59,999/-
All Inclusive Fees
| (Upto Turnover of Rs 100 Lakhs) |
| Annual Package |
| Book Keeping |
| GST Return Filing |
| GSTR-1, GSTR-3B, GSTR- 2A, 2B Matching |
| Assistance in tax calculation and payment |
| Dedicated Account Manager |
| Customized package available for turnover more than 100 Lakhs. |
Benefits of GST Return Filing in India
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. Thus, a single GST has abolished the cascading effect of tax on tax.
Before the introduction of Goods and Service Tax, VAT was applicable on any businesses having annual turnover of 20 lakhs. GST has provided higher threshold benefits.
Be it GST registration or return filing, a registered business owner can do everything online. This is certainly opposed to the earlier indirect tax regime, where a business owner had to get himself registered separately for various indirect taxes.
With the increase in competition, every business is making a strong presence online offering its services and products through their websites. In VAT laws and compliance were complicated but GST Has made it easier.
If you are filing your return timely before due date then your vendors are having more interested in buying the products from you rather than from a person who is not registered with GST..
Before GST, startups with an annual turnover of 5 lakh had to pay VAT which was very difficult for a startup during the initial stages. GST has replaced VAT where businesses can set off the service tax on their sales.
Shares of a company are movable property and thus can be transferred like any other property. A public company can freely transfer its shares, but there are some restrictions.
The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted.
