GST Filing - GSTR - 1 - 3B (Quarterly)

What is a GST Return??

A return is a document containing details of income that a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability. .

Who has to file GST Returns??

In the GST regime, any regular business has to file monthly/quarterly returns and one annual return whose turnover is more than 20 lacs for sale of service and Rs. 40 lacs for sale of Goods. However, there are some other parameters for filing returns. .

What are the types of GST Returns??

There are three types of GST Returns to be filed every month and an annual return for registered businesses as below: • GSTR-1 includes monthly details of outward supplies of taxable goods and/or services affected. It's due on 10th of the next month. • GSTR-2 includes monthly details of inward supplies of taxable goods and/or services effected claiming the input tax credit. It's due on 15th of the next month. • GSTR-3 is a monthly return on the basis of the finalization of details of outward supplies and inward supplies along with the payment of the amount of tax. It's due on 20th of the next month. • GSTR-9 is required to be filed annually on 31st December of the next financial year. .

How do I claim Input tax credit??

Input credit means at the time of paying tax on output, you can reduce the tax you have already paid on inputs. In this package, we will help you claim an input tax credit if you have tax invoices from registered dealers. .

What is GST 3B??

GSTR 3B is a simple return that businesses need to file in the first two monthly/quarterly..

I am a wholesaler of sports goods. Do I need to file GST Returns??

If you are registered under GST, then you need to file GST returns. By filing GST returns, you will be able to claim the Input tax credit..

I have 3 GSTIN. How many returns do I need to file??

You need to file GST returns for every GSTIN. So for one GSTIN, you need to file 3 returns every month and one annual return. Under this plan, we will file GST returns for one GSTIN only. You will need to purchase additional packages for multiple GSTIN..

What penalties are applicable for non-compliance under GST??

To prevent tax evasion and corruption, GST has brought in strict provisions for offenders regarding penalties, prosecution, and arrest. .

What are B2B invoices??

B2B invoices are invoices of taxable supplies made to registered taxpayers are considered as B2B..