GST RETURN

Being top rated consultants in India, with our efficient online services, we ensure to meet all your compliance requirements so that you stay stress-free from filing last-minute GST returns.

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Service Overview

Filing the GST returns is compulsory for all establishments that are already registered under GST and have been allocated a GSTIN, that is Goods and Service Tax Identification Number. While the monthly GST returns are to be filed by registered persons based on the turnover of the business, some of these may be filed quarterly and yearly. The GST return document also contains information regarding revenue, sales, and purchases made for and inside the business, which helps in claiming the Input Tax Credit (ITC).

‍Challenges of Filing for a Private Limited Company

Complex Procedures

The formation of the private limited company is quite complex as it requires many legal formalities.

Time-Consuming

Sometimes, its exhausting to gather all the necessary papers and fill out all necessary documents.

Share Limit

In a Private Limited Company there is a limit of 200 shareholders, with a restricted limit on share transfers.

Business Commencement

Within 180 days of registering a Private Limited Company, the certificate of commencement of business must be obtained.

‍Challenges of Filing GST Return

Complex Documentation Process

Preparing and submitting accurate documentation can be overwhelming, leading to delays in obtaining GST registration.

Complying to Ever-Changing GST Regulations

Staying updated with evolving GST laws and compliance rules can be challenging for businesses of all sizes.

Navigating errors in the application

Errors on the GST portal during application submission often result in process interruptions, requiring additional time and effort.

Handling Rejections and Resubmissions

Applications may be rejected due to minor mistakes, requiring businesses to repeat the entire process with corrected details.

Advantages of GST Return

Simple Compliance and operations

GST has reduced the burden of tax keeping and managing multiple taxes at once. It has a simplified tax structure which reduces administrative burden.

Claim Input Tax Credit (ITC)

GST registration enhances cash flow and profit, as businesses can claim their Input Tax Credit on the GST paid for the goods and services purchased for their business.

Improved Market reach and Credibility

GST registration also enhances a business’s credibility, demonstrating compliance with national tax laws to help expand it’s market reach without facing legal implication, which builds confidence in customers and suppliers.

Access to E-commerce platforms

Many e-commerce platforms have made GST registration mandatory for sellers to list their products. This opens up a new horizons for sellers boosting their sales significantly.

Service Process

01

Verification

Go to the official website to login, the next step will be to fill in all the required details for verification.

02

Document Compilation

Collect sales, purchase, and ITC records from your accounting data to ensure every entry is supported by accurate documentation.

03

Submit details

Submit all the business details like sales (outward supplies), purchases (inward supplies), tax collected, and Input Tax Credit (ITC) then pay tax liability (if asked/ if any).

04

File with DSC or EVC

File the returns using Digital Signature Certificate (DSC) or Electronic Verification Code (EVC).

05

Confirmation

After submission of all the documents a receipt will be generated as a proof of GST return filing.

06

Consultation

You can save the time of filing the returns and invest it your business by trusting our 13+ years of compliance services for all types of businesses.

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Service Process

Consultation

We will have a consultation regarding your business vision and requirements to decide on whether the private limited company fits you well.

Documentation

We will help you to do the paperwork involving preparation of the Memorandum of Association and Articles of Association.

Registration

We will then forward all the necessary documents to the Registrar of Companies as required for registration.

Support

We will always be here with you to offer assistance and advice so that you can efficiently run your private limited company.

Compliance:

We will assist you in maintaining a continuing compliance with all legal and regulatory standards.

Service Process

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Service Breakdown

Eligibility

Threshold Turnover Requirements: Registration is mandatory for businesses those exceed ₹20 lakhs (₹10 lakhs in some special states) in their annual turnover.

Inter-State Business Operations: Entities conducting transactions across states are required to register under GST to avoid penalties and ensure smooth tax processing.

E-commerce Sellers and Aggregators: Any seller that uses online platforms or aggregators must obtain GST registration as per tax guidelines.

Businesses Opting Voluntarily: Small businesses registering voluntarily can avail multiple GST benefits under government schemes and enhance their market reputation.

Documents

GSTIN of the Business: A unique fifteen-digit Goods and Services Tax Identification Number for tax compliance.

Sales and Purchase Invoices: All invoices concerning sales and purchases filed within the tax period for return filing purposes should be compiled and submitted.

Tax Payment Proof: Documents proving GST payments made, including challans or online receipts.

Input Tax Credit Records: Necessary to claim tax benefits on purchases made during the filing period.

Bank Statements: Ensuring accuracy in the turnover calculation and tax liability assessment.

Who Needs

Small and Medium Enterprises (SMEs): SMEs in need of GST registration to expand operations and ensure compliance with taxation laws in India.

E-commerce Businesses: GST is mandatory for those businesses which sell products or services online, ensuring smooth tax management and credibility.

Service sector professionals: This is also for individuals providing services with turnover exceeding the exemption limit must register to meet regulatory requirements.

Inter-State Goods Suppliers: Businesses which are involved in inter-state trade must register to legally transporting goods across state borders without penalties.

Creating Trust-Driven Relationships

JR Compliance is one of the known name for BIS certification, they are well versed with processes
and guide client properly.

Kartik Shah

Published on 4 March 2024

We have outsourced the entire BIS certification responsibility of our panels to JR compliance since 2017 and their service so far has been
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Published on 4 March 2024

We have been using JR Compliance services since last 3 years on various BIS related registration & testing of our various IT & electronic products. We really appreciate your full-fledged & excellent support in all respect in this matter.

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Published on 4 March 2024

FAQ

Services

What is the process to file GST returns online?

Filing GST returns online involves going to the official web portal, entering the details, and proceeding with either a Digital Signature Certificate (DSC) or Electronic Verification Code (EVC). You can download the receipt as proof of filing afterwards.

What penalty amount is charged for late filing of GST returns?

The maximum amount charged for late GST filing is INR. 5,000; otherwise, it can be different depending on the type of return, tax liability, business turnover, and delay in the filing of the return.

What are the different categories of GST returns?

In India, the types of GST returns are GSTR 1, GSTR 3B, GSTR 4, GSTR 5, GSTR 5A, GSTR 6, GSTR 7, GSTR 8, GSTR 9, GSTR 9A, GSTR 10, GSTR 11, and CMP-08.

When should input tax credit (ITC) be claimed in GST returns?

Input Tax Credit can be claimed in the GST returns for a valid tax invoice pertaining to the receipt of goods/services for which the supplier has paid tax. It should be warranted in GSTR-3B, whereby ITC should match with GSTR-2B details for claiming it as a tax return.

How to check the GST return status?

In order to check the GST return status, log in to the GST portal, go to the menu bar, and select "Services," after that click on "Returns" and then "Track Return Status." Later, enter the ARN or return filing period and hit the "Search" button.