- Basic Turnover Upto 10 Lacs
- GSTR-1
- GSTR-2
- Bank Reconciliation Statement
- GST Payment
- E Way Bill Generation
- for 6 Months
A return is a document containing details of income which 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:
Registration of any business entity under the GST Law means obtaining a unique number called GSTIN from the concerned tax authorities for the purpose of collecting tax on behalf of the government and to avail Input tax credit for the taxes on his inward supplies. Without registration, a person can neither collect tax from his customers nor claim any input tax credit of tax paid by him.
If you are operating from more than one state, then you will have to take separate registration for each state you are operating from.
Business entities falling into any of the following criteria are required to be registered under GST:
1.Every business entity engaged in providing service having aggregate turnover over Rs. 20 Lakh and entity engaged in exclusive supply of goods having aggregate turnover over Rs. 40 Lakh is required to register as a normal taxable person. However, this threshold limit is Rs. 10 lakh if you have a business in north-eastern states, J&K, Himachal Pradesh and Uttarakhand.
2.Any Person who is engaged in Inter-state supply of services and goods.
3.Any Person who is engaged in supply of goods through e-commerce portal.
4.Casual Taxable Person.
5.Input Service Distributor (ISD).
6.Non-resident taxable person.
7.Persons liable to pay tax under the reverse charge mechanism.
8.TDS/TCS deductor
9.Online data access or retrieval service provider.
In the GST regime, any regular business has to file two monthly returns and one annual return. This amounts to 26 returns in a year.
The number of GST filings vary for quarterly GSTR-1 filers. The number of GST filings online for them is 17 in a year.
There are separate returns required to be filed by special cases such as composition dealers whose number of GST filings is 5 in a year.
