GST return filing Chennai

A GST Return Filing is a return document that contains details of the income of the taxpayer. It has to be filed with the GST administrative authority. The document is used by tax authorities to calculate the tax liability of a GST taxpayer.

A GST Return Filing form has to include the following details.

• Output GST (On sales)
• Sales
• Input tax credit (GST paid on purchases)
• Purchases

For filing a GST Return, you need to have GST-compliant sales and purchase invoices attached.

Who should file GST Returns?
In the GST regime, any regular business having more than Rs.5 crore as annual aggregate turnover has to file two monthly returns and one annual return. This amounts to 26 returns in a year. The number of GSTR filings varies for quarterly GSTR-1 filers under the QRMP scheme. The number of GSTR filings online for them is 9 in a year, including the GSTR-3B and annual return. There are separate returns required to be filed by special cases such as composition dealers whose number of GSTR filings is 5 in a year.

Benefits of choosing Genuine Tax for the GST returns:

Dedicated GST Advisor:
A relationship manager with experience in the sector that you operate in will guide you through the process of GST registration and filings. They will help with specific tasks such as uploading invoices and also ensure that your filing is taken care of on time.

Reminder to file GST returns:
Our platform ensures that you get timely reminders well in advance of the deadline beyond which penalty will be applicable. In addition to this, your GST advisor will also remind you periodically so that no deadlines are missed.

Monthly GST Status reports:
Monthly reports detailing the status of GST return filing including GSTR- 3B and the way forward will be shared with the clients by the GST advisors.

GST returns by LEDGERS:
GST returns are prepared by LEDGERS- the GST software so that it is error-free and filed on time without hassles.

GSTR- 1 and GSTR- 3B filing:
GSTR-1 is a quarterly return that should be filed by every business. Turnover determines the due dates for GSTR- 1. Business with sales up to Rs. 1.5 Crore can file their quarterly returns.

Input Tax Credit Reconciliation:
Businesses will be enabled to benefit from the input tax reconciliation mechanism provided by the government to achieve neutrality in the incidence of tax and ensure that such input tax element does not enter into the cost of production or cost of supply of goods and services.

Standard accounting and cloud records:
All of your financial transactions and invoices will be recorded in LEDGERS by accountants so that the filing of all your returns including ITR, TDS, and GST is seamless and cost-effective.