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What is GST Return Filing
The basic meaning of “GST Return Filing” is “maintaining financial accounts” per year. Bookkeeping and GST Return Filing can be divided into several fields including financial GST Return Filing, managing general GST Return Filing,professional GST Return Filing, chartered accountant, auditing, tax GST Return Filing and cost GST Return Filing.
- Step 1:
Connect with an expert at LegalDocs and provide the necessary information to prepare your gst filing statement.
- Step 2:
Our expert will prepare a GST return statement based on the information provided and send it to you for your approval.
- Step 3:
GST return will be filed with the tax authorities once it has been approved by you.
Process for GST Return Filing Services Online
You must first file for GSTR-1 (for sales made) by the 10th of each month.
The buyer views (and rectifies, if any) the sales made by you in GSTR-2A.
The buyer then approves the sale made by you and files for GSTR-2 by the 15th of each month.
If any modifications are made, you (the seller) can approve or reject the same in GSTR-1A.
When both the seller and buyer approve of the forms, GSTR-3 is generated with the payment of taxes due by the 20th of each month.
What is GST Return
A GST file return is a document which has details of income which a taxpayer needs to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability.
Eligibility for GST Return Filing
In the GST norms, any regular business has to file three monthly returns and one annual return.
GST should also be filed by entities that make no sales or purchases during a given period (year) in the form of nil-returns (meaning no returns).
The best part in this system one has to manually enter details of one monthly return – GSTR-1. The other two returns – GSTR 2 & 3 will get auto-populated by deriving information from GSTR-1 filed by you and your vendors. Compounding taxpayers have to file returns quarterly which is for every three months and regular taxpayers such as, foreign non-residents, casual taxpayers and Input Service Providers (ISD) have to file returns monthly.
Current Account Opening
A current account is a type of deposit account that helps the professionals and businessmen to run their business. Businessmen can avail various benefits by Online Current Account such as:
- Unlimited transactions
- Customized features
- Online banking services
Online current account reduces the hassle and provides the benefit to complete the banking process anytime and anywhere.