It is a requirement by the Government of India for individuals earning a specified annual income to file their income tax return. This process, known as the ITR Filing Procedure, must be completed within the designated due date.
A GST Return is a record containing all the necessary information about your purchases, sales, taxes on sales, and taxes on purchases. When you file a GST return, you're essentially settling your tax liabilities with the government. This process is essential for all registered dealers and business owners under GST.
Filing your GST return correctly, according to your business nature, is crucial. If you encounter any difficulties, The Tax Heaven is here to assist you. We excel as the leading Online GST Return Filing Service in India.
Filing a GST return is necessary for:
Regular businesses
Businesses under the Composition Scheme
Amendments
Auto-drafted returns
In response to tax notices
Various other dealers and business owners
With the introduction of GST in India on July 1, 2017, the country's tax system underwent a complete transformation. Previously, individuals and businesses had to handle multiple taxes. With GST, all these taxes have merged into a single entity known as Goods and Service Tax.
Regular businesses with an annual aggregate turnover of 5 crores or more and those registered under GST must file GST returns. This entails one annual return and two monthly returns, totalling 25 returns annually.
The QRMP scheme is applicable to taxpayers with a turnover exceeding 5 crores. They are required to file 9 QRMP and GSTR filings each year. QRMP scheme participants pay taxes monthly while filing returns quarterly. The process of GST filing can be intricate,and seeking assistance is prudent. Tax Heaven's experts ensure your timely and accurate GST filing. We are your go-to Online GST Return Filing Service in India.
Composition dealers, who file GSTR filings five times a year, need to submit separate returns or statements. There are a total of 13 GST returns, including GSTR-1, GSTR-4, GSTR-3B, GSTR-5, GSTR-5A, GSTR-6, GSTR-7, GSTR-8,GSTR-9, GSTR-10, GSTR-11, CMP-8, and ITC-4.
However, not all taxpayers are obligated to file each of these returns. The type of taxpayer and GST registration influence the necessary returns. Taxpayers with turnovers exceeding 5 crores must also file a self-certified reconciliation statement in GSTR-9C.
In addition to mandatory GST returns, taxpayers must provide input tax credit statements under GSTR-2A (dynamic) and GSTR-2B (static).
Small taxpayers must pay taxes using form PMT-06 every month. Each GST return has a specified format to be filed on the GST portal.This process might seem challenging when attempted solo. Here's where professional assistance comes in. Tax Heaven is a premier GST Return Filing service in India. If you encounter challenges with GST filing, consult us. Our contact details are available on our official website