GST Filing Service in Purnea, Bihar
All registered persons are required to file various returns under GST. The main returns to be filed are GSTR-3B (which is a monthly summary) and GSTR 1 (Details of outward supplies). Avyad Consultancy is a reputed business platform and a progressive concept, which helps in end-to-end Incorporation, Compliance, Consultancy and Management Consultancy services to clients in Purnea, Bihar. Filing GST returns with us is easy, seamless, cheap and fast. Apart from filing returns under GST services, Avyad Consultancy also helps you to file Income Tax Return, TDS Return, PF Return and ESI Return with ease.
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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 Since GST superseded several other taxes like central excise duty, service tax, customs duty, and state-level value added tax, you are no longer subject to paying tax on the tax.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
GSTR - 9
GST Annual Return for normal taxpayers
Why Choose Us for GST Registration
Our Happy Client
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/).
