GST Returns
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We are going to help ensure that the filing of GST returns is perfect and on time to ensure all your compliance is achieved.
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- Regd Office: Kalamassery
- Services available @Edavanakad & Panayikulam
- +91 8281 355 673
- info@outbay.in
Simplify Your GST Returns with OUTBAY
OUTBAY eliminates the headache of your GST Return filing. We handle every aspect of filing your GST return; we make sure it will be correct and as per the latest rules. We, at OUTBAY, will take care of your GST returns so that you can focus on the expansion of your business. We can keep you on the right track and make it smoother for you.
What Is GST Returns?
GST returns are periodical submissions by businesses registered under the Indian GST system to the tax authorities. These returns detail the sales, purchases, the output tax collected on the sales, and the input tax paid on the purchases of the business. Returns help in arriving at the net tax liability of the business and ensure GST-related compliance. GST return filing timely and accurately can help a company maintain tax compliance and get all the input tax credits available for the same period.
Our GST Returns Services Include:
- Initial Consultation
- Data Collection
- Return Preparation
- Return Filing
- Reconciliation
- Compliance Management
- Audit Support
Submit Your GST Filing Documents
Frequently Asked Questions
What is a GST return and who needs to file it?
A GST return is a document that contains details of income that a taxpayer must file with the tax administrative authorities to calculate their tax liability. Every registered business under GST must file GST returns, including outward supplies, inward supplies, and tax on output. The frequency and type of return vary based on the nature of the business.
What are the various types of GST returns that a business may need to file?
The main types of GST returns include:
- GSTR-1: Details of outward supplies of goods or services (monthly/quarterly)
- GSTR-2A: View of inward supplies (auto-populated)
- GSTR-3B: Summary of outward supplies along with input tax credit (monthly)
- GSTR-4: Quarterly return for composition scheme taxpayers
- GSTR-9: Annual return
- GSTR-10: Final return when canceling GST registration
- GSTR-11: For Unique Identity Number holders like embassies
When are GST returns due, and what happens if they are filed late?
The due dates for filing GST returns vary:
- GSTR-1: 11th of the subsequent month (monthly) or end of the next month from the end of the quarter (quarterly)
- GSTR-3B: 20th of the subsequent month
- GSTR-4: 18th of the month following the quarter
- GSTR-9: 31st December of the subsequent financial year
Filing late can result in penalties, late fees, and interest on the outstanding tax liability.
What is the procedure to file GST returns online?
To file GST returns online, follow these steps:
- Log in to the GST portal (www.gst.gov.in).
- Navigate to ‘Services’ > ‘Returns’ > ‘Returns Dashboard’.
- Select the return period and the type of return you need to file.
- Enter the required details, upload the necessary documents, and verify the entries.
- Submit the return using a digital signature or EVC (electronic verification code).
- Make the payment for any tax liability, if applicable.
- Receive the acknowledgment and download the filed return for your records.
What are the consequences of not filing GST returns on time?
Non-filing of GST returns can lead to several consequences, including:
- Late fees: ₹50 per day for normal returns (₹20 for NIL returns) and ₹200 per day for GSTR-9, subject to a maximum cap.
- Interest: 18% per annum on the outstanding tax amount, calculated from the due date till the payment date.
- Suspension of GSTIN: The GST registration may be suspended, leading to restrictions on generating e-way bills.
- Legal action: Prosecution and penalties under GST law for continued non-compliance.