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GST Return Filling

Streamline Your GST Returns with DreamFirm

Hassle-free GST compliance for startups.

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  • Zoho
  • Odoo
  • Razorpay
  • Tally
  • Petpooja
  • Amazon Web service
  • Flyingcolour
  • Shopify
  • Zoho
  • Odoo
  • Razorpay
  • Tally
  • Petpooja
  • Amazon Web service
  • Flyingcolour
  • Shopify
  • Zoho
  • Odoo
  • Razorpay
  • Tally
  • Petpooja
  • Amazon Web service
  • Flyingcolour
  • Shopify
Overview

An Overview of GST Return filing

Avoiding Penalties

Irrespective of the tax liability, all businesses registered under the GST Act should file their GST returns online. Failure to file GST returns on time may result in penalties and interest at a rate of up to 18% per year. Late fees of ₹100 up to ₹5000 are being charged for late filing.

Maintaining Compliance Status

Filing GST returns before the deadline helps to avoid notice from the GST department and maintains compliance. Any regularities or inconsistencies in filing returns may reflect negatively on business compliance.

Claim Input Tax Credit

Filing GST returns on time helps businesses claim input tax credit. This allows them to easily deduct payable tax on overall sales and the tax paid on purchases. Businesses can use this credit by filing GST returns on time.

Benefit From Government Initiatives

Government-backed schemes and incentives are provided to businesses and individuals who file GST returns on time. This prevents imposing interest and penalties. In most cases, businesses that consistently file GST returns are eligible for government initiatives that include faster processing of refunds.

Improved Business Reputation

On-time GST returns reflect the commitment of the business entity to comply with the rules and regulations of the government. It also establishes a reputation for being responsible and trustworthy. This has a positive impact on consumers' partners and stakeholders when it comes to investment.

Why DreamFirm

Why Choose DreamFirm for GST return filing

Expertise and Experience:

Our team has a proven track record in handling GST compliance for startups, ensuring accurate and timely filing.

Personalized Service:

We understand the unique requirements of startups and provide tailored solutions to meet your specific needs.

Timely Updates:

Stay informed about the latest GST rules and regulations with our real-time updates and notifications

Documents Needed

Documents Required for GST return filings

✔️Customer GSTIN

✔️GST invoices

✔️Place of supply

✔️B2B and b2c service in voices

✔️Bill number

✔️Credit or debit notes

✔️HSN summary of goods sold

✔️Amount of IGST, CGST, SGST applicable

✔️Required GST return forms

Other Important Aspects of GST Return Filing:

Process

Below is a three step process for GST return filing in India

01

Step 1

Get in Touch With Our Experts

02

Step 2

Preparing and Updating invoices

03

Step 3

GST Return Calculation and Filing

FAQ'S

GST Return filing- FAQ's

Missing a GST return deadline may incur penalties, including late fees and interest charges. To avoid this, file the return as soon as possible and pay any outstanding taxes to mitigate penalties.

Check your GST return filing status online by logging into the GST portal and navigating to the ‘Services’ section. Select ‘Returns Dashboard’ to view the status of your filed returns, including whether they are submitted, pending, or processed.

Hiring a Chartered Accountant (CA) for GST filing is not mandatory, but their expertise can ensure accurate and timely filing, helping avoid errors and potential penalties. Connect with our experts if you are unsure about compliance requirements.

Monthly GST return filing is mandatory for regular taxpayers whose turnover exceeds the prescribed threshold. However, the composition scheme taxpayers file returns on a quarterly basis.

To file a zero return in GST, log in to the GST portal, select the appropriate return form, and fill in the details indicating zero transactions for the taxable period. Submit the form to complete the filing process. If you need assistance, get in touch with our experts today.

Yes, individuals and businesses can file their own GST returns using the GST portal or authorised GST software. However, ensure compliance with GST laws and accurately report transactions to avoid penalties.

The time limit for GST return rectification is within the specified period of filing subsequent returns or one year from the relevant annual return’s due date, whichever is earlier. Rectify errors promptly to avoid compliance issues and penalties.

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