Perfect Consultancy Services India
- Need Professional Payoll Management Services? Contact Us
(022) 3572 7790
GST
Goods and Services Tax (GST) Came into existence from 1st July 2017 that led to one of India’s Ultimate tax reforms of all time. Under this GST regime, GST return filing is mandatory for all entities having GST registration every month irrespective of business activity or sales or profitability during the return filing period. Hence, even an inactive business that obtained GST registration must file at least Nil GST return.
GST return is a Summary of all Sales details, Output tax liability and Input tax credit available. Filing these GST Returns requires tax liability payments to the government by the taxpayers.
There are many returns under GST which a taxpayer has to file with the GSTIN, we assist you with the filing of the GST return accurately and always on time.
Late Fees for not Filing GST Return on Time
If GST Returns are not filed within time, you will be liable to pay interest and a late fee. Interest is 18% per annum. It has to be calculated by the taxpayer on the amount of outstanding tax to be paid. The time period will be from the next day of filing to the date of payment. Late fees are Rs. 100 per day per Act. So it is 100 under CGST & 100 under SGST. Total will be Rs. 200/day. Maximum is Rs. 5,000. There is no late fee on IGST.
List of documents required for GST Return filing
Details of Expenditure/Purchase attracting GST
- Total Intrastate & Interstate Purchase
- Total imports
- Sales Returns
- Other Purchases
- Other Expenses
Leave & Attendance Data:
- Total Intrastate & Interstate sales
- Total Exports
- Purchase Returns
- Other Supplies on which no GST is Paid
- Other Income
Other Amount
- Arrears (Audit / Assessment) etc
- Refunds
General details
- Your GST Number
- Your Login Credential for GST Portal
- DSC of Registered Person (if available)
- Your Bank Account Details