Your Guide to Goods & Service Tax Return Filing 

The Goods and Service Tax (GST) has transformed the tax structure of the country. To some extent, it is not wrong to say that “Good and Simple Tax” did simplify the compilation process; but, as the government consistently rolled out the new policies, it is becoming strenuous for the businesses to get a hold of it. While most businesses have evaluated and incorporated the effective GST solution that suits their business model, some are still coping up to adapt themselves to the new tax system, and thus look for a GST Service Provider.

Who is Eligible for Filing GST Returns?

All the business entities who have registered themselves under the GST system are required to file the GST returns. However, the filing process and GSTR segregation vary according to the nature of the business.

The registered entities that are involved in the following operating activities are required to file a GST return:

  • Sales
  • Purchase
  • Output Goods and services tax (on Sales)
  • Input Tax Credit with GST paid on the purchase

 

How to File GST Returns Online?

Due to the digitalization of the tax regime, filing tax returns has become automated. GST returns can be filed online using the software or apps provided by the Goods and Service Tax Network (GSTN).

Step – 1 : Login to GST Portal and fill in the required information, and a 15-digit identification number will be issued based on your state code and PAN number.

Step – 2 : Now upload the relevant invoices, and against each invoice, you will receive the reference number.

Step – 3 : After invoices, fill in the outward returns, inward returns, and cumulative monthly returns. If there are any errors, then you can rectify them

Step – 4 : Using the information section at the GST Common Portal, file the outward supply returns of GSTR-1 on or before the 10th of the month.

Step – 5: After this, the recipient has to verify, validate, and modify the details of the outward supplies and file details of credit or debit notes.

Step – 6 : Next, fill in the details of inward supplies of taxable goods and services in the GSTR-2 form.

Step – 7 : The supplier can either accept or reject the modifications of the details of inward supplies made available by the recipient in GSTR-1A.

 

How can we help you with a smooth GST Return Filing Process?

First, we seamlessly process and verify your data for the collection then prepare it in the proper structure as per the stated requirements, then if required we assist you in carrying out the income tax audit under the guidance of experts to ensure that you comply with IT policies.

We make sure that you are aware of every step to maintain data transparency as well as security. To save your time as well as efforts, we at Muneembhai accomplish the complete process on your behalf.

Our service structure features end-to-end fulfillment under the guidance of our expert.

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