GST ANNUAL RETURN

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GST Return Filing Process | GST Annual Return

GST made its existence on 1st July.2017. According to the new GST policy, more than 1.5 crore business has been registered. It is compulsory to all GST registration gliders to file annual returns. Law states that it is obligatory for every business firm to file an annual return for GST irrespective of size, nature, production or sales of the business. This is how the framework of GST annual returns works. The GST annual return due date outline has been specified as below,

If a GST registration holder has received the GST registration before 1st April 2018 then it is necessary to file GST annual return for the respective financial year of 2017-18 on or before 30th June 2019. GSTR-1 or GSTR-3B or GSTR-4 return must have filed before filing the GST annual return for the time period of July to March 2018. If there is any dua for this particular financial periods then the GST registration holder carries no liberty of filing GST annual returns.

TYPES OF GST RETURNS

GSTR-1 RETURN

It is the first type of GST return. It is due on the 10th of every month. The GST registration holder is supposed to file GSTR-1 return on 10th of every month.

GSTR-2 RETURN

It is the second type of GST annual return. It is due on the 15h of every month. The GST registration holder is supposed to file GSTR-2 return on 15th of every month.

GSTR-3 RETURN

It is the third type of GST annual return. It is due on the 20th of every month. The GST registration holder id supposed to file GSTR-3 return on 20th of every month.

GSTR-4 RETURN4

It is the fourth type of GST return. GSTR-4 s the Quarterly return for all composite suppliers. It is due on the 18th of every month.

GSTR-5 RETURN

It is the fifth kind of GST return. GSTR-5 return is the monthly return for Non-Residents Taxable Persons.

GSTR-6 RETURN6

It is the sixth type of GST return. GSTR-8 return is the monthly return for E-commerce operator.

WHY SHOULD YOU FILE GST RETURNS ON TIME?

Let your visitor know how many modules there are and what each one is about.

1

Protection from Penalty


If the GST registration holder fails to file GST returns then he/she is liable to a penalty of INR 200 on per day basis and maximum up to 5000 of each return.


2

Protection form registration cancellation

Continuous failure in filing your GST annual return may result in cancellation of your GST registration.


3

Better Goodwill:


Filing your GST annual tax returns tends to be helpful for building better goodwill among the customers.
Better Compliance Rating:Government of India has a provision for rating the GST returns of every business firm. In this way, it becomes easier to maintain a better compliance rating.


4

Ease of availing loans:

If a GST registration holder files all GST annual returns on time then this accuracy of returns assists a lot in availing the loan from any bank or institution.



E-Waybill registration:

If a GST registration holder fails to file GST tax return on a regular basis then Government of India has the procedure of restricting E-Way bill generation.

GST RETURN FILING PROCESS

  • At the first stage provide us with all the information required for online GST tax return filing. You are allowed to submit all required details and documents through the mail.
  • At the second step, you are allowed to make a selection for your package. After the selection of package has been made you can place the payment……..
  • At the third stage, we will assign the task of filing your GST return to one of our reliable professionals. This step makes the completion of the respective procedure very easy.
  • At the fourth stage, our expert will make GST Return and will complete the tax liability. It is one of the most important stages in the GST Return filing process.
  • At the fifth stage, our expert will proceed to file GST return on the online basis to the GST department. It signifies the accomplishment of your GST return.
  • The last but not the least stage in the process of GST Return is that our expert will share the final receipt to the GST registration holder.


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