About This Plan
Filing GSTR 1 & GSTR-3B returns for 3 months is now easy! Opt for this plan and get all filing and compliance needs taken care of in one place!
Services Covered
- GSTR Filing for 03 months (GSTR-1&3B) for ONE GSTIN
- Filing for B2B (up to-20) and B2C invoices
- Book-Keeping and Accounting are not part of this package
- Valid for businesses with turnover less than 1.5 crores
- Services covered under this plan only for 03 months.
Who Should Buy
- Wholesale Traders
- E-Commerce Suppliers
- Retailers
- Manufacturers
- Goods Distributors
- Freelancers
- Service Providers
- Business registered under GST (not applicable for business under composition scheme)
How It's Done
- Purchase of Plan
- Expert Assigned
- Upload Your Documents
- Monthly/Quarterly Delivery of Services
90 days estimate
Documents Required
- Purchase and sales register
- Payment challan for GST
FAQs
- What is a GST Return?
A return is a document containing details of income that a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability. Under GST, a registered dealer has to file GST returns that include:
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- Purchases
- Sales
- Output GST (On sales)
- Input tax credit (GST paid on purchases) Under this plan, our experts will file your GST Returns
- What are the types of GST Returns?
There are three types of GST Returns to be filed every month and an annual return for registered businesses as below:
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- GSTR-1 includes monthly details of outward supplies of taxable goods and/or services effected. It's due on 10th of the next month.
- GSTR-2 includes monthly details of inward supplies of taxable goods and/or services effected by claiming the input tax credit. It's due on 15th of the next month.
- GSTR-3 is a monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of the amount of tax. It's due on 20th of the next month. Currently, GSTR-3 is suspended by the govt. and GSTR-3B is filed. GSTR-3B is a simple return in which a summary of outward supplies along with input tax credit is declared and payment of tax is affected by the taxpayer.
- CMP-8 is required for the composition dealer, under this covered Statement-cum-challan to make a tax payment by a taxpayer who is registered under the composition scheme under section 10 of the CGST Act (supplier of goods) and CGST (Rate) notification no. 02/2019 dated 7th March 2020 (Supplier of services) &
- GSTR-4 is an Annual Return for a taxpayer registered under the composition scheme under section 10 of the GST ACT 2017.
- GSTR-9 is required to be filed annually on 31st December of the next financial year (other than who is covered GSTR-4).
- GSTR-10 Final return to be filed by a taxpayer whose GST registration is cancelled or surrendered.
Within three months of the date of cancellation or date of cancellation order, whichever is later.
- How do I claim the Input tax credit?
- Input credit means at the time of paying tax on output, you can reduce the tax you have already paid on inputs. Input tax credit in relation to GST to a registered person means, the CGST, SGST/UTGST or IGST charged on any supply of goods or services or both made to him. It includes IGST charged on imports & tax payable under reverse charge mechanism.
- If you are a manufacturer, supplier, agent, e-commerce operator, aggregator or any of the persons mentioned, registered under GST, you are eligible to claim INPUT CREDIT for tax paid by you on your PURCHASES.
- For example,
If you have purchased goods worth Rs 1,00,000 and paid Rs 5,000 as GST on it @ of 5% . When these goods are sold at Rs 1,50,000 and GST attracted is Rs 7,500 @ 5% so the net tax liability will be Rs 7,500 less Rs 5,000 i.e. Rs 2,500.
- How do I know if my tax invoice is GST compliant?
A tax invoice is generally issued to charge the tax and pass on the input tax credit. A GST compliant tax invoice is a bill that will have 16 mandatory information some of which are:
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- Name, address and GSTIN of the supplier
- Invoice number
- Date of issue
- Name, address and GSTIN of the recipient (if registered)
- HSN code
- Description of the goods/services
- Quantity of goods
- Value after discount
- Rate and amount of GST
Under this plan, we expect you to provide a summary of invoices (purchase & sale) covering all this information to help us file your GST returns.
- I am a clothing seller and sell through leading e-commerce portals. Which package do I need to apply for GST returns?
Presently, the government is yet to define GST filing guidelines for e-commerce operators. Till such time, you will be required to file GST returns like others.
- How do I claim a Refund under GST?
The processing time for a refund application has been kept as sixty days under GST model law but it could be as early as two weeks. Our experts will assist you in claiming the refund.
- Is audit applicable under GST?
Audit under GST is the examination of records maintained by the taxable person to verify the correctness of information declared, taxes paid and to assess the compliance with the provisions of GST. The audit can be done by the taxpayer himself or by the tax authorities. Every registered taxable person turnover during a financial year exceeds the prescribed limit [as per the draft rules turnover limit is above Rs 1 crore] must get his accounts audited by CMA/CA
Our Expert experts will guide you on the tax audit.
Note that our plan does not cover audit services. These are separately charged by the CA.
- What penalties are applicable for non-compliance under GST?
To prevent tax evasion and corruption, GST has brought in strict provisions for offenders regarding penalties, prosecution and arrest.
Late Fee
The GST late filing penalty has been specified as follows:
- A person fails to furnish details of outward or inward supplies, monthly return or final return by the due date – The GST penalty for late filing is INR 100 for every day during which the failure continues, subject to a maximum of INR 5,000
- A person fails to furnish the annual return by the due date – The GST late filing penalty is INR 100 for every day during which the failure continues, subject to a maximum of a quarter per cent of the person’s turnover in the state where he is registered
Interest
While the GST penalty interest rates on the applicable offences are yet to be notified, the GST late payment penalty has been specified as follows:
- A person liable to pay tax fails to pay the tax - Interest on the tax due will be calculated from the first day on which the tax was due to be paid, as per the rules of GST payment
- A person makes an undue or excess claim of input tax credit or undue or excess reduction in output tax liability - Interest on the undue excess claim or undue or excess reduction
- A recipient of a service fails to pay to the supplier of the service the amount towards the value of the service, along with tax payable thereon, within 3 months from the date of issue of invoice by the supplier - Interest on the amount due will be added to the recipient’s liability
Cancellation of Registration
The circumstances under which a person’s registration may be cancelled are:
- A regular dealer has not furnished returns for a continuous period of 6 months.
- A composition dealer has not furnished returns for 3 quarters.
- A person who has taken voluntary registration has not commenced business within 6 months from the date of registration.
- Registration has been obtained by fraud, wilful misstatement or suppression of facts.
Confiscation of goods and/or Conveyances
For the following offences, the penalty specified is confiscation of goods and/or conveyances and levy of fine - which will be INR 10,000 or an amount equal to the tax evaded:
- A person does not account for the goods on which he is liable to pay tax.
- A person supplies or receives goods in breach of any provisions or rules with the intent to evade payment of tax.
- A person supplies any goods liable to tax without having applied for registration.
- A person uses a conveyance for carriage of taxable goods in breach of any provisions or rules.
Imprisonment and Fine
The circumstances under which imprisonment is applicable are:
- Obstructing or preventing any officer in the discharge of his duties, or tampering with or destroying any evidence or documents – 6 months imprisonment with fine
- Failure to supply any information required under the law or supplying false information - 6 months imprisonment with fine
- Tax evaded or input tax credit wrongly availed or refund wrongly taken of an amount exceeding INR 50 Lakhs, but not exceeding INR 1 Crore - Imprisonment which may extend to 1 year with fine
- Tax evaded or input tax credit wrongly availed or refund wrongly taken of an amount exceeding INR 100 Lakhs, but not exceeding INR 2.5 Crores - Non-bailable imprisonment which may extend to 3 years with fine
- Tax evaded or input tax credit wrongly availed or refund wrongly taken of an amount exceeding INR 2.5 Crores - Non-bailable imprisonment which may extend to 5 years with fine
Other Penalties
Offences on which penalty will be levied have been specifically laid down under the rules of the GST penalty in India.
- Penalty if the person commits the following specified offences – INR 10,000 or an amount equivalent to the tax evaded
- Supplies goods and/or services without issuing an invoice or issues an incorrect or false invoice
- Issues an invoice without a supply of goods and/or services
- Collects tax but fails to pay the same to the Government beyond a period of 3 months from the date on which the payment becomes due
- Who is an e-commerce operator fails to collect the tax or collects lesser than the amount required to be collected or fails to pay the tax to the Government
- Takes input tax credit without actual receipt of goods and/or services either fully or partially
- Obtains refund of tax by fraud
- Falsifies or substitutes financial records or produces fake accounts and/or documents or furnishes a false return
- Liable to be registered, but fails to obtain registration
- Furnishes false information with regard to registration
- Transports taxable goods without documents
- Fails to maintain books of accounts and documents
- Suppresses turnover leading to evasion of tax
- Issues an invoice or document by using the identification number of another person
- Penalty if a person aids or abets any of the offences listed above – May extend up to INR 25,000
- Penalty if a person who commits an offence for which penalty is not separately provided under the law – May extend up to INR 25,000
- What are B2B invoices?
B2B invoices are invoices of taxable supplies made to registered taxpayers that are considered B2B.
- What are B2CLarge invoices?
B2CL are invoicing for taxable outward supplies made to unregistered taxpayers where:
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- Supply is made interstate, and
- Total invoice value is more than Rs 2,50,000/-