GST Return Filing Online Services
Experience streamlined and hassle-free with Global Consultants, where compliance meets convenience. We ensure your business meets all regulatory requirements efficiently, with returns filed accurately and on time by our team of senior experts. Our services are designed to cater to the specific needs of businesses, covering monthly, quarterly, and annual filings.
- GST Return Filing - Comprehensive Overview
Maintaining compliance under the Goods and Services Tax (GST) Act of 2017 necessitates regular GST return filing. This process requires all registered businesses to submit their tax information and transaction details. Through these filings, businesses document sales, purchases, GST collected on sales (output GST), and claim input tax credit (ITC) on purchases.
- Why Choose Global Consultants for GST Return Filing?
Expert Handling
Our senior experts manage the complete process, from document preparation to final submission.
Flexible Solutions
Whether you need monthly, quarterly, or annual GST returns, we provide tailored services to fit your business cycle.
Timely Submissions
Timely Submissions: With our prompt filing service, you can avoid penalties by ensuring all GST returns are filed before the deadline. Expert Handling: Our senior experts oversee the entire process, from document preparation to final submission. Flexible Solutions: We offer tailored services to fit your business cycle, whether you require monthly, quarterly, or annual GST returns.
- Benefits of Timely GST Return Submission
Avoid Penalties
Avoid Penalties: Late filing can attract penalties and interest up to 18% per annum; our timely filing service helps you avoid these costs. Maintain Compliance: By keeping your business in good standing with the GST department, you can avoid audits and notices. Claim Input Tax Credits: Filing returns promptly enables effective claiming of ITC, thereby reducing your overall tax burden.
Maintain Compliance
Keep your business in good standing with the GST department, avoiding audits and notices.
Claim Input Tax Credits
Timely filed returns allow for the effective claiming of ITC, reducing your overall tax burden.
Support from Government Initiatives
Regular filers benefit from government-backed incentives, including faster processing of refunds.
Enhanced Business Reputation
Demonstrating compliance enhances trust with stakeholders, customers, and financial institutions.
- Essential Documents for GST Return Filing
GST Invoices: Both sales and purchase invoices are required to support your filings. GSTIN of the Customer: Necessary for processing B2B transactions. HSN/SAC Codes: Summarize the goods and services involved. Bank Statements: Validate the financial transactions for the period. Credit and Debit Notes: Serve as adjustments to previously issued invoices or returns. Comprehensive Transaction Details: Encompass all sales, purchases, GST paid, and collected.
- Eligibility Criteria for GST Return Filing
All registered business entities under GST must file returns. This includes:
● Regular businesses, composition scheme registrants.
● Input service distributors, TDS/TCS deductors.
● Businesses with an annual turnover above ₹1.5 crore.
● Non-resident Indian business operators and e-commerce platforms.
- Step-by-Step GST Return Filing Process
1. Consultation: Engage with our GST experts to clarify your queries and ensure your documents are ready.
2. Invoice Preparation and Update: Compile and verify all necessary invoice data, including B2B and B2C transactions, and ITC claims.
3. Calculation and Filing: Our team calculates your due taxes and files the returns on the GST portal, ensuring accuracy and compliance.
- Types of GST Returns and Their Due Dates for 2024
● GSTR-1: Due by the 10th of every month.
● GSTR-3B: Due by the 20th of every month.
● (Annual Return): Due by the 31st for turnovers above ₹2 crore.
● (Reconciliation Statement): Due by the 31st for turnovers above ₹5 crore.
- Penalties for Late GST Return Filing
● Interest: Additionally, interest is charged at a rate of 18% per annum on the tax payable. Consequently, failing to pay taxes on time could lead to a substantial financial burden.
● Late Fees: Furthermore, late fees are imposed at ₹100 per day per Act, up to a maximum of ₹5,000. Therefore, it is crucial to comply promptly to avoid unnecessary penalties.
- Enhancing GST Compliance Rating
A high GST compliance rating benefits businesses significantly. Firstly, it showcases reliability to potential partners and customers, thereby enhancing trust and credibility. Moreover, it opens up increased opportunities for business growth. Additionally, it improves the availability of input tax credits, which can further strengthen a company’s financial position and operational efficiency.
- How Global Consultants Supports Your GST Return Filing
● Complete Compliance Support: Moreover, we ensure that all filings are not only prepared accurately but also submitted on time, leaving no room for errors.
● End-to-End Service: In addition, from the initial stage of document preparation to the final filing, every step is meticulously handled by our experienced experts.
● Transparent Communication: Furthermore, regular updates are provided to keep you fully informed and reassured throughout every stage of the process.
- FAQ
Yes, GST returns can be filed after the deadline, but this may incur late fees and interest charges. It’s best to file as soon as possible to minimize these penalties.
If errors are discovered in your GST returns, you can amend them in the next tax period. However, frequent errors can lead to audits and increased scrutiny from the GST department.
Businesses with no taxable sales or purchases need to file a NIL return but cannot skip the filing process entirely.
Get Started with Global Consultants
Ensure your business remains compliant and efficient with our expert GST return filing services. Contact Global Consultants today to schedule a consultation and take the first step towards hassle-free GST compliance.
