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GST Compliances

Now GST actively apply on all over India from 1 July 2017 , Every entity supply goods / service in inter state or intra state above the threshold limit , they have to register in GST act and file the return every month . Those entity choose composition scheme will file the return quarterly.

If any Entity supply goods or supply with in state then levy CGST and SGST/UGST will apply on goods/ supply with rate 0%, 5%, 12% 18%,28% with cess . CGST and SGST/UGST will be charged equally on bill

If any Entity supply goods or supply one state to other state then levy IGST will apply on goods/ supply with rate 0%, 5%, 12% 18%,28% with cess.

CGST will be deposit to central Government and SGST/UGST will be deposit to state Government or union territory.

Input credit avail on CGST to CGST and SGST to SGST but it can not internally . In the case of IGST both will be avail the input credit and vice versa.

PAYMENT PLAN

GST RETURN FILING

When a person registered in GST under GST Act and get GSTN number he have to require file return along with tax payment periodically by online, Return filing needs to be done every month and every quarterly under composition scheme and annual turnover less than 1.5 crore as per recent GST council meeting .

Now GSTR-3B of the of every month is filling on 20th of next month up to march. The time period for filing GSTR-2 and GSTR-3 for the months of July, 2017 to March 2018 would be worked out by a Committee of Officers. However, filing of GSTR-1 will continue for the entire period without requiring filing of GSTR-2 & GSTR-3 for the previous month / period. 

GST return will be filed in various forms depending upon transaction and registration. Applicable return forms are:

Return FormDetailPeriodDue date

GSTR-1

Outward supply of Goods/services turnover less than 1.5 cr

Quaterly

July-Sep 17 -31st of Dec 17

GSTR-1

Outward supply of Goods/services turnover More than 1.5 cr

Monthly

July- Oct 17 – 31st of Dec 17

GSTR-3B

Monthly Return with tax payment

Monthly

20th of next month

GSTR-4

Quarterly return of composition supplier

Quarterly

July-Sep 17 -24th of Dec 17

GSTR-5

Return for non resident taxable person

Monthly

July 17 -11th of Dec 17

GSTR-6

Return for Input Service Provider(ISD)

Monthly

July 17 -31st of Dec 17

GSTR-7

Return for TDS

Monthly

GSTR-8

Return for E-commerce Operator

Monthly

GSTR-9

Annual Return

Yearly

GST PAYMENT

GST is a multi-level taxation system which means that tax is levied at each stage of production of goods and services. some of the amount you collect from your customers as GST on sale of goods that will be paid after input tax credit to government via designated banks manually or online GST payment will be paid every of month or quarter depending on your transaction and registration.

Payment of taxes by the normal taxpayer is to be done on monthly basis by the 20th of the succeeding month. Cash payments will be first deposited in the Cash Ledger and the taxpayer shall debit the ledger while making payment in the monthly returns and shall reflect the relevant debit entry number in his return. As mentioned earlier, payment can also be debited from the Credit Ledger. Payment of taxes for the month of March shall be paid by the 20th of April. Composition tax payers will need to pay tax on quarterly basis.

INVOICE

When a person register under GST Act , he have to follow the invoicing system notifies by the Government

Under GST Act two type invoice bascally issue

1. Tax Invoice

2. Bill of supply

Tax Invoice – When a registered dealer supply taxable good/ services whether credit pass on to recipient or not issue Tax Invoice and mention CGST, SGST/UGST, IGST

Bill of Supply – When a register dealer do not charge any tax issue bill of supply A register dealer issue Bill of supply in following cases

1. Supply of Exempted Goods

2. Supply under composition scheme

3. Supply to Exporter or SEZ

Supplier require to issue three copies in original , Duplicate , Triplicate

Original copy issue to Buyer or recipient

Duplicate copy issue to Transporter

Triplicate copy retain by supplier

Document Required

For filing return and payment following documents are required

  • Letsfiling.com help to file your business GST return and GST payment at time , we collect all document relating to sale and purchase in our prescribed form or convenient to client

PROCESS

After receive the all documents (Documents mail at info@letsfiling.com) , our representative prepare return and verify and approve by you than our GST expert will file your GST return with the GST department.

FILE YOUR INCOME TAX RETURN - Start from Rs 499 *

Company Registration & GST Registration

Company Registration & GST Registration