The implementation of GST tax in India 2017 has lead the economy to the next level. It eliminates all unregulated and unauthorized industries and make taxation process very simple. By replacing multiple taxes it reduces the burden of manufacturer and other businessman while filling returns. So, whether you are a trader, manufacturer or a businessman if your business falls under the category of taxation you need to file a GST return online.
If you have been reviewing the taxation news regarding GST, you would surely know that the due dates of filling annual GST returns have been delayed twice- once from December 2018 to March 2019 and then again March 2019 to 30th June 2019 respectively. Now 30th June is going to be a date of filling your annual GST returns. Just be sure, just like filling GST return, audit GST report must be submitted by the taxpayers.
There are two important things that all taxpayers should keep in mind while filling GST return online. Let’s begins from the basics.
For properly updating the invoices, Indian taxpayers have to fill GST returns. These returns have to be mandatorily filled as any non-compliance towards the same may lead to disallowance of the input tax credit. Despites late fee or penalties, filling a GST return online is a crucial process for smooth flow of credit to the last recipient.
The main motive is behind designing a return to make transaction in a sync order and there will be no ambiguity between the seller and buyers regarding payment.
GSTR-9: At every annual year, taxpayers have to fill GST return online. This document consists a detail supplies made and receiving during the year under different taxes like IGST, CGST, and SGST. The late fee of filling GSTR-9 is Rs. 100 per day respectively.
The annual return is further classified into three other types that are listed below:
Important Note: Keep in mind, the GSTR 9C form is verified by Chartered Accountant or a Cost Accountant and filled by the taxpayers whose turnover exceed Rs. 2 Crores respectively. A Chartered Account must prepare this GST Reconciliation statement.
There is a sigh of relief for the taxpayers because GSTN has now made available offline utility GSTN 9C.
Some important points you should bear in mind while filling GST return online:
Below we have mentioned some important keys that need to be furnished in GST return Form:
Steps for Filling GST return online:
Please do remember before click on the save and submit button, crosscheck all the details effectively.
India is heading towards its biggest tax reform. To record every transaction, the Government of GST Ministry has come up with a great solution to record all the transaction details at a one place. The process has been simplified and cascading effect of taxes have been removed. With the help IT support, now all businessmen can file GST returns online. If you are looking for the GST service provider who can help you in regarding how to file GST returns, you have come to the right place. At Unilex consultant we will help you related to GST services effortlessly.
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