GST Return Filing - E-File in Purnia, Bihar With Expert Support of Avyud Consultancy

GST Filing Service in Purnea, Bihar

Now, start preparing and filing your Income Tax Return with Avyad Consultancy to avoid minor hassles and penalties. With our best practice research and framework, our team of experienced and skilled tax professionals helps taxpayers save on time and be efficient in tax-filing processes.

Income tax should be applicable for individuals, businesses, corporate and all other income generating establishments. The IT Act, 1961 regulates the collection, collection and administration of Income Tax (IT) in India. IT is paid every month from monthly earnings, but it is calculated on an annual basis. How much Income Tax (IT) an individual has to pay depends on several factors.

Benefits of GST Filing from Avyud

Lowest price guaranteed
No Office Visit, No Hidden Cost
Served 5000+ Customers
No hassle compliance as we have complete control over them.
All your returns will be duly filed
Our legal representatives are available to explain the entire process and address any questions you may have.

Though the GST portal has a user-friendly interface, the GST form has a lot of complex areas. Hence, it is highly recommended that you take the help of a professional for submitting the application, necessary procedures, filing your return and completing other formalities in the portal.

Penalty for Late Filing of GST Returns

If you fail to file GST return on time it can lead to penalty and cancellation of GST registration. If one does not submit the GST return for six months, the GST registration will be cancelled, and the individual will not be able to obtain another GST registration – until all late filing penalties are paid.

For individuals with nil returns and turnover, the penalty for late filing of GST returns is different. NIL GST return must be filed for a person without business. Failure to file NIL GST returns can attract a penalty of Rs 20 per day for GSTR-3B returns and GSTR-1 returns. Therefore, failure to file NIL GST return can result in a penalty of Rs 40 per day or Rs 1200 per month.

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Benefits of GST Return Filing

GST Eliminates Cascading

Earlier there were many instances where tax on tax was paid for the same transaction. Since GST superseded several other taxes like central excise duty, service tax, customs duty, and state-level value added tax, you are no longer subject to paying tax on the tax. This saves you money.

Higher Threshold

GST limit is the total turnover for sale of goods exceeds 40 lakhs and total turnover for sale of services exceeds 20 lakhs. This means that small businesses falling below this limit are not subject to GST.

Easier for Startups

The GST system has made it easier for startups and e-commerce companies to manage their taxes. E-commerce faced various tax laws especially in different states, which have now been abolished by GST.

Types of Return under GST

GSTR - 1

Details of outward
supplies

GSTR - 2

Details of inward supplies
(Suspended temporarily)

GSTR - 3

Finalised details of the supplies with payment of taxes

GSTR - 4

Quarterly return by Composition Taxpayers

GSTR - 5

Return by Non-Resident Foreign Taxpayer

GTSR - 6

Monthly return by Input Tax Distributor (ISD)

GSTR - 7

Monthly return by
Tax deductor

GSTR - 8

Monthly return by e-commerce operator

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FAQs for GST Registration Service in Purnea, Bihar

What is a GST Return?

GST return is a document containing the details of income which is required to be filed with the tax authorities as per law. Under the GST law, a taxpayer is required to submit two returns on a monthly basis and one such return annually. All returns have to be filed online. Please note that there is no provision to modify the return. All invoices from the previous tax period that were not reported should be included in the current month.

Can we revise the returns?

It is not possible to modify the GST return. Hence it is advisable to ask the professionals to file your return. Changes can be made in the details given in the Return Form Amendment section for the next period.

Is the GST threshold limit the same for all Indian states?

No. The limit for North Eastern States (Special Category States) is less as compared to other states. There is a limit of ₹20 lakh for the sale of goods and ₹10 lakh for the sale of services.

Is it mandatory to file a GST return every month?

It is mandatory for every registered taxpayer to file GSTR-1 every month. On the other hand, if you opt for the QRMP scheme, you will have to file only quarterly returns.

Is GST paid every month?

Yes, GST has to be paid every month on its due date. You pay GST first and then file the return.

What is an E-way Bill?

An e-way bill is an electronic waybill that a GST registered person must get for movement of goods in a vehicle whose value exceeds Rs 50,000. You can do e-way bill registration through e-way bill portal (https://ewaybillgst.gov.in/).

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