GST Return Filing (M/Q)

Return is very important aspect of GST as all control over tax paid and input tax credit availed is on the basis of return filed by taxable person. Return is also basis for assessment. The returns are to be filed electronically. Filing GST returns is not a one-time job. It comes back every month or every quarter, and the dates do not move. A missed deadline means a late fee, interest on the tax and, if it keeps happening, trouble with your registration. Many businesses also lose input tax credit because their records and returns do not match. 

At BK TAXLAWFIN LLP, our GST return filing services take this routine work off your desk, so your returns go in correctly and on time.

What is GST Return Filing?

A GST return is a statement of your sales, purchases, tax collected and tax paid for a period. Every registered business has to file it, even when there was no business activity in that period, in which case a nil return is filed.

The two returns most businesses deal with are GSTR-1, which reports your outward supplies, and GSTR-3B, which is the summary return where you pay the tax. A good GST return filing consultant makes sure both match your books and your purchase data, because the department compare them.

Monthly and Quarterly GST Return Filing

You can file monthly or quarterly, depending on your turnover and your choice.

• Monthly filing: Monthly within 11 days from end of month, for those who opt to file GSTR-1 and monthly, within 20 days from end of month for registered person with aggregated turnover exceeding Rs. five crores in preceding financial year.

• Quarterly filing (QRMP Scheme): Supplier or Suppliers of goods or services or both whose aggregate turnover in previous financial year was less than Rs. Five crores has option to file a quarterly return in form GSTR-3B.

Which option is better depends on your invoice volume, cash flow and customers. We look at your number and suggest the one that suits you.

Our GST Return Filing Services

• Monthly GST return filing and quarterly GST return filing under QRMP Scheme

• GSTR-1 and GSTR-3R preparation and filing

• Reconciliation of purchase records with GSTR-2B to protect your input tax credit

• Nil return filing

• Checking tax liability, interest and late fee before payment

• Filing of overdue returns and clearing old pending periods

• Annual return support.

Who needs GST filing Support?

Every business that has a GSTIN has to file GST return. This include shopkeepers, traders, manufactures, contractors, freelancers, service providers and online sellers. It makes no difference if your business is small or if you made no sale in a month. A nil return is still required to be filed.

Need help with GST return filing?

Whether your business is in Patna, Gaya, Bodh Gaya or a nearby town, you do not have to handle returns on your own. We offer special GST return filing for clients in Patna, Gaya, Bodh Gaya and local area around them, and our GST services are also available across Bihar and all over India.

Send us your sales and purchase details before the due date. We will prepare the return, show you the tax payable and file it only after your approval. If you are behind on earlier months, we can clear them one by one. Call 8249668263 or write to info@bktaxlawfinllp.com 

FAQ

1. Who has to file GST return?

 Any person who holds GSTIN has to file returns, whether the business is small or large. Even if you made no sale in a month, a nil return is still required.

2. What is the last date of monthly return?

The registered persons who are required to file monthly return should file return in form GSTR-1 on or before 11th and form GSTR-3B on or before 20th of succeeding month. 

3. What happen if I file GST return late?

Fee for late filing of return applies for everyday of delay, and interest is charged on any unpaid tax.

4. Who is eligible to file GSTR-1 through SMS?

Any taxpayer who fulfils below conditions, are eligible to file Nil Form GSTR-1, through SMS

1. Taxpayer must be registered as normal taxpayer/casual taxpayer/SEZ unit and must have a valid GSTIN.

2. Taxpayer must have opted for the filing frequency as either monthly or quarterly on the GST Portal

3. Authorized signatory and his/her phone number must be registered on the GST Portal

4. There must not be any data in saved or submitted stage in online version of FGSTR-1, on the portal

5. Can you file my pending old returns?

Yes, we can file the overdue periods and calculate the late fee and interest for you.