GST Registration and Return filing
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GST Registration and Return filing Services
Being one of the reputed firms, we are offering a wide range of Gst Consultancy Services to our patrons. We can meet a variety of client requirements. In addition to this, these consultancy services are admired for their low cost, perfect work, and timely execution.This facility helps the business taxpayer in India to prepare the return offline and then upload it on GSTN through the facilitation center.
What will be process for GST Return Filing ?
It will depends on business of entity however common process will be as follow:-
- Computerisation of Data:- In case client has not maintained data in any accounting software or Excel, then first of all all data will be entered in our GST software
- Preparation of Return :- Once all required data is there we will compile it in required format and cross check correctness of data using our software tools
- Upload of Return :- Once Data is correct and complete in all aspects the form will be uploaded to GSTN server and filing procedure will complete
- Follow up and Correction :- We will keep a tab and do required correction if there is any discrepancy in GST Return, However any discrepancies in Vendor filing need to be followed up and corrected by client itself
Benefits of GST Return Filing
Elimination of the cascading effect
- The introduction of GST into the Indian tax system has done away with several other taxes like central excise duty, service tax, customs duty and state level value added tax. Thus a single GST has eliminated the cascading effect of tax on tax.
Higher threshold benefits
- Before GST was introduced, VAT or value added tax was applicable for any business that had an annual turnover of 20 lakhs. Services that saw a turnover of less than 10 lakhs did not have to pay service taxes.
- Earlier startups with an annual turnover of 5 lakh had to pay VAT which would be very difficult for a business during the initial stages. But as GST has replaced VAT, businesses can set off the service tax on their sales.
Regulations and accountability
- The pre-GST period witnessed a disorganized tax filing system. Presently, all taxes are paid online and major hassles that were a part of tax filing have been eliminated in the process of introducing GST. This has resulted in industries becoming more accountable and tax filing laws are better regulated than before.