Goods and services tax is an indirect tax applicable from July 1st, 2017 across India. GST return is the filing of taxes through GSTR forms according to the slabs and eligibility criteria. A return is a document containing details of income that a taxpayer is required to file with the tax administrative authorities.
To file GST returns or GST return filing online, GST compliant sales and purchase invoices are required. This is used by tax authorities to calculate tax liability. Under GST, a registered dealer has to file GST returns that include purchases, sales, output GST, input tax credit.
Who has to file GST return:
All registered businesses have to file monthly, quarterly, and/or annual GST returns based on the type of business.
Under the GST returns, the taxpayers running their firms and business across India, whether it is interstate or intrastate, they are liable to file for GST return as prescribed by the GST council and indirect tax department.
List of GST returns:
GSTR-1 - The registered taxable supplier should file details of outward supplies of taxable goods and services as affected.
GSTR-2 - The registered taxable recipient should file details of inward supplies of taxable goods and services claiming the input tax credit
GSTR-3B - The registered taxable person should file the monthly return on the basis of finalization of Summarized details of outward supplies & inward supplies plus the payment of an amount of tax.
GSTR-4 (CMP 08) - Composition supplier should file the quarterly return for depositing the payment.
GSTR-5 - Return for the non-resident taxable foreign taxpayer.
GSTR-5A - Return for the OIDAR.
GSTR-6 - Return for input service distributor.
GSTR-7 - Return for authorities carrying out tax deduction at source.
GSTR-8 - E-commerce operator or tax collector should file details of supplies effected and the amount of tax collected.
GSTR-9 - The registered regular taxpayer should file an annual return.
GSTR-9A - The composition traders should file an annual return.
GSTR-9C - Turnover Above 2 crores (Regular Taxpayers) in a Particular FY.
GSTR-10 - The taxable person whose registration has been canceled or surrendered should file the final return.
GSTR-11 - The person having UIN claiming the refund should file details of inward supplies.
How to file GST return online:
- Visit the GST portal
- A 15-digit GST identification number will be issued based on your state code and PAN number.
- Upload invoices on the GST return filing in India or the software. An invoice reference number will be issued against each invoice.
- After uploading invoices, outward return, inward return, and cumulative monthly return have to be filed online.
- File the outward supply returns in GSTR-1 form through the information section at the GST Common Portal (GSTN) on or before the 10th of the following month.
- If there are any errors, you have the option to correct it and refile the returns.
GST Registration OnlineAs per GST jurisdiction, any business operations whose annual turnover exceeds Rs 40 lakhs must register as a separate taxable provision.
As per GST jurisdiction, if you're doing any business without GST registration, it's considered an offense.GST or Goods and Service Tax - One Nation One TaxBeing the biggest tax reform in India, GST levied on the goods and services which includes both the Central taxes (CST, Service Tax, Excise Duty) and State taxes (VAT, Entertainment Tax, Luxury Tax, Octroi).
This will help the buyer in touch only GST which is charged by the last dealer within the chain of trade and provide .As per GST Regime, any business operation whose annual turnover is exceeding quite Rs.40 lakh is required to register as a traditional taxable individual.
However, there's an exclusion for hill states and North East, the annual turnover is exceeding quite Rs.20 Lakh for them.To obtain GST Registration Online is mandatory for all types of businesses whose turnover comes under the above-mentioned criteria.
If a business entity carries any business activities without GST registration, it will be conceived as a punishable offense and the business and its owner will be liable to pay heavy penalties and legal issues.Who is eligible for GST Registration Online?The person who is registered under Pre-GST law such as Excise, VAT, Service Tax Businesses that hold turnover exceeding more than Rs.
20 Lakh for the North Eastern States, Himachal Pradesh, Jammu and Kashmir, and Uttarakhand.
Flexibility within the systems via online regime makes the GST registration online very easy by following the certain easy steps altogether in one go.
GST registration is mandatory for the holder whose turnover is quite 20 lakh.After making the appliance online, the business applicant will get the unique GSTIN number which GSTIN along side logins credential is employed at every moment of business which will be for return filing, generation of bill and invoice by taking everything into consideration GSTIN is important at every stage of GST filings with the assistance online common GST portal.The GST system is so efficient and comprehensive because it includes much taxation into it for the graceful functioning of the taxation everywhere India with the assistance of a standard GST portal.HOW TO GET NEW GST NUMBER REGISTRATION IN INDIAThe government of India doesn't charge any fee for the aim of GST Registration under the products and Services Tax (GST) regime, individuals and entities registering for GST through the web registration process are required to pay a fee for the services availed from professionalsStep 1: While accessing the GST portal, click the link as prescribed.Step 2: While clicking the services tab there are three options which will be open within the drop-down manner named Registration, Payment, and User Services.Step 3: While clicking the Registration tab will open more options.Step 4: After registration you would like to click New Registration and then forms are going to be open within the same window.Step 5: Taxpayer/GST Practitioner/Tax Deductor and State/UT and District, Name of the Pan holder that GST is applying alongside email and mobile number got to fill within the application of the GST registration and then got to click the proceed button for further processing.Step 6: Mobile number and email will get the OTP after clicking the proceed and wish to enter the OTP received and continue further.Step 7: TRN are going to be provided by the Provisional GST number department on the screen alongside on email id and mobile number and wish to save lots of the TRN for future requirements.BENEFITS OF GST NUMBER REGISTRATION :Easy to access via common GST portal – because the GST portal is straightforward to access by the commoner thanks to which he can track and file himself all the returns and compliance.Compliance is a smaller amount as many income taxes are in one – because it sums up all the taxation in one in order that working are going to be smooth.Improved efficiency of the GST – All the tax in one makes the person access the small print from one portal only.Organized sector of taxation – No ambiguity within the system makes it very useful.GST helps in reducing corruption from the system.Registration will confer the subsequent advantages to a taxpayer: he's legally recognized as supplier of products or services.
he's legally authorized to gather tax from his customers and expire the credit of the taxes paid on the products or services supplied to the purchasers/ recipients.The above process is explained briefly the necessity of GST registration, also to Apply GST Registration Online.
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India has followed a dual GST structure, during which both states and central government impose tax/Fees on goods and/or services.The taxpayer or the business that obtains GSTIN implies it to gather and pay GST on their business dealings or supplies i.e., purchases, to form it clear i.e., sales and claim GST input decrease on the inward goods and services.
Basically, the kinds of GST Registration Cost depend upon the kinds of the business.
Following are the three sorts of GST which has been implemented within the country:SGST: The State Goods and Services Tax is levied by the government .CGST: The Central Goods and Services Tax is levied by the central government of India.IGST: The Central Goods and Services Tax is levied by both state and central government together, under the central government.UTGST: The Union Territory Goods and Services Tax is imposed on the Intra UT supply of goods and servicesAs per the new tax regime, tax will be deducted in the name of GST at every point of sale.
Goods that are imported will fall into IGST as they're going to be considered as inter-state sales.The State Goods and Services Tax (SGST)SGST or State Goods and Services Tax is one of the two taxes which is imposed on business dealings of goods and services of every state.
This tax is levied by the government of each state, and it replaces all kinds of existing state tax like Entry Tax, Sales Tax, Entertainment Tax, VAT, and so on.
The IGST is imposed only the products and services are distributed from one state to a different for sales purposes.The Union Territory Goods and Services Tax (UTGST)UTGST is levied on the Intra UT supply of products and services.
ICEGATE is an abbreviation for Indian Customs Electronic Commerce/Electronic Data Interchange (EC/EDI) Gateway.
What are the facilities one can avail with ICEGATE’s Registration?
Besides these, some of the other services hosted by ICEGATE are,
Document tracking status at Customs EDI,
online verification of DEPB/EPCG/DES licenses,
Until now, ICEGATE’s registration process would require the digital signature of the IEC holder among other documents, which would further need approval from the officials.
