GST Registration
Any business whose turnover exceeds the prescribed threshold limit (which varies for different states) is required to register under GST. Once registered, the business is assigned a unique Goods and Services Tax Identification Number (GSTIN).
Maintenance of Records
The business must maintain detailed records of all transactions, including purchases, sales, output GST (tax collected on sales), and input GST (tax paid on purchases).
Filing of Returns
GSTR-1: Contains details of outward supplies (sales) made by the taxpayer. It is required to be filed by the 11th of the succeeding month. GSTR-3B: A summary return that includes details of both outward and inward supplies, along with the tax liability. It is required to be filed by the 20th of the succeeding month. GSTR-4: A quarterly return for taxpayers opting for the Composition Scheme. Others: There are returns for Input Tax Credit (ITC) matching, such as GSTR-2A and GSTR-2B, as well as annual returns like GSTR-9
Reconciliation
Before filing returns, businesses must reconcile their purchase data with the information available on the GST portal to ensure accurate input tax credit claims.
Payment of Tax:
After filing the returns, businesses are required to pay the tax liability as reflected in the filings. Payments are made online through the GST portal.
Annual Return
An annual return (GSTR-9) is required to be filed by December 31 of the following financial year, consolidating the information furnished in monthly or quarterly returns. Advocate Gaurav Srivastava assists businesses at every stage of this process, from GST Registration to accurate and timely filing of returns, ensuring compliance with applicable GST regulations. He also provides practical advisory support on GST-related matters, helping businesses manage their tax obligations effectively and maintain smooth operations.
GST Returns Filling Services in Lucknow, Kanpur, Raebareli and Amethi
GST Returns Filling Services Process
For the GST return process, Advocate Gaurav Srivastava provides a clear and structured approach based on the standard GST return filing framework in India, as followed by professionals in this field.