GST Filing

GST Return Filing Services

At Pioneer One, we offer comprehensive GST return filing services in India. Our team of experienced professionals assists businesses with their GST compliance requirements, ensuring that all returns are accurately filed and in a timely manner. We provide end-to-end solutions for all your GST needs, from registration to return filing and everything in between. With our expertise in GST laws and regulations, we ensure that your business remains compliant and avoids any penalties or fines. Whether you are a small business or a large corporation, we tailor our services to meet your unique needs and ensure seamless and hassle-free GST compliance. Let us help you simplify the complex GST return filing process and focus on growing your business while we take care of the compliance requirements.

GST – India

Under the GST system in India, businesses that are registered must file their GST returns either monthly, quarterly, or annually, depending on their specific business needs. It is mandatory for businesses to provide details on sales or purchases of goods and services, as well as tax collection and payment. With the implementation of the GST system, taxpayer services such as registration, returns, and compliance have been streamlined to ensure that they are in line and perfectly aligned.

Individual taxpayers are required to file four forms when filing their GST returns, including returns for supplies, returns for purchases, monthly returns, and annual returns. GST return filing is mandatory for all entities with valid GST registration, regardless of their business activity or sales during the filing period. Even a dormant business with a valid GST registration must file GST returns.

A GST return is a document that contains all the details of a taxpayer’s income or expenses, which must be filed with the tax administrative authorities. The GST system ensures that all businesses are held accountable for their taxes, and the returns provide a comprehensive snapshot of the company’s financial status. By implementing such a comprehensive Income Tax System like GST in India, the tax collection process has become more streamlined and efficient, benefiting both businesses and the government.

 

Eligibility Criteria for GST

The process of GST return filing in India applies to the following:

Different types of GST registration in India

Composition Scheme GST Return Filing

All persons registered under the Composition Scheme are required to pay taxes using CMP-08 every quarter and GSTR 4 to be filled annually through the GST Common Portal or a GST Facilitation Centre. GST return for those enrolled under Composition Scheme is due on the 18th of the month, succeeding a quarter. Hence, the GST return for the composition scheme would be due on April 18th, July 18th, October 18th, and January 18th. The GST return filed by a Composition Scheme supplier must include details of:

If a registered person opted to pay tax under composition scheme from the beginning of a financial year, then the taxpayer must file monthly GST returns on the 10th, 15th, and 20th of each month and monthly returns till the due date of furnishing the return for September of the succeeding financial year or furnishing of annual return of the preceding financial year, whichever is earlier. Hence, even if a taxable person under GST opted for a composition scheme from April onwards, the taxpayer must continue filing monthly GST returns until September.

 

Staggered Return of GSTR-3B

Penalties

What are the penalties, late fees, and interest rates?

If there are any offenses committed then a penalty has to be paid under GST

Late filing

Late filing of the GST returns can attract a penalty called a late fee. And according to the Goods and Service Tax can attract a penalty which is Rs. 100 under CGST and Rs.100 under SGST that accounts for Rs.200 a day.

With the late fee, an interest of 18% has to be paid per annum. It is calculated on the tax to be paid.

Non-compliance

In case if the taxpayer is not filing the GST returns then the subsequent returns cannot be filed. Hence, to avoid heavy fines and penalties it is better to file the GST returns on time as it will lead to a cascading effect.

 

For 21 offenses with no intention of fraud or tax evasion

An offender who is not paying taxes or is making short payments must pay a penalty of 10% of the amount of tax due subject to a minimum of Rs.10,000.

For 21 offenses with the intention of fraud or tax evasion

An offender is subject to a penalty amount of tax evasion or short deducted.

Even in case if there is no business the taxpayer is required to file the Nil GST returns.

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