Cancellation or Surrender of GST Registration

Every person who was previously registered under the old laws was required to migrate to the GST system. Many of these people are exempt from GST registration.

In most states, the VAT barrier was 5 lakhs, whereas the GST threshold is 20 lakhs. However, unless you are a service provider, make sure you are not making interstate supplies because interstate suppliers must register.

The following situations frequently result in the cancellation of a GST registration:

• The company is no longer in operation.
• If the firm has been entirely transferred, amalgamated, demerged, or otherwise disposed of, the transferee (or the new company created by the amalgamation/demerger) must register. If the transferor goes out of business, the registration will be cancelled.
• There has been a change in the company’s structure (For example- Private limited company has changed to a public limited company)

A return is a document that a taxpayer is expected to file with the tax administration authorities that contains information about their earnings. Tax officials use this to figure out how much money they owe in taxes. A registered dealer is required to file GST returns that include the following information:

•  Purchases
•  Sales
•  GST Output (On sales)
•  Tax credit for inputs (GST paid on purchases) Under this package, our professionals will file your GST returns.

The following are the three types of GST Returns that must be filed monthly and an annual return for registered businesses:

• GSTR-1 comprises monthly data of taxable goods and/or services effected outward supplies. It is expected on the 10th of the next month.
• Monthly details of inward supplies of taxable goods and/or services effected while claiming input tax credit are included in GSTR-2. It is due on the 15th of the next month.
• GSTR-3 is a monthly return based on the completion of details of outbound and inbound supplies, as well as the payment of tax. It is due on the 20th of the next month.
• GSTR-9 must be filed yearly by December 31st of the next fiscal year.

Input credit refers to the ability to deduct the tax you’ve already paid on inputs while paying tax on output. If you have a tax invoice from a licenced dealer, we can assist you claim input tax credit with this package. Read on to find out more.

To charge the tax and pass on the input tax credit, a tax invoice is usually produced. A GST compliant tax invoice is a bill that contains 16 necessary pieces of information, including:

• The supplier’s name, address, and GSTIN
• The invoice number is
• Issuance date
• The recipient’s name, address, and GSTIN (if registered)
• The HSN code
• A brief description of the products/services
• Product quantity
• After discount value
• GST rate and amount

We anticipate you to supply a summary of invoices (buy and sale) encompassing all of this information as part of this plan to assist us in filing your Gst return.

GSTR 3B is a straightforward return that firms must file within the first two months of the GST year (July and August, 2017). The filing of GSTR 1, 2 & 3 for July and August 2017 has been postponed by the government to give businesses more time to transition to GST.

GSTR Forms Filing Schedule:

• The GSTR-3B for July 2017 is due on the 20th of August, and the GSTR-3B for August 2017 is due on the 20th of September.
• The GSTR-1 for July 2017 must be filed between the 1st and 5th of September, and the GSTR-1 for August 2017 must be filed between the 16th and 20th of September.
• The GSTR-2 for July 2017 must be filed between the 6th and 10th of September, and the GSTR-2 for August 2017 must be filed between the 21st and 25th of September.
• The GSTR-3 for July 2017 must be filed between the 11th and 15th of September, and the GSTR-3 for August 2017 must be filed between the 26th and 30th of September.

You must file GST returns if your company is GST registered. If you file GST returns, you may be eligible for an input tax credit.

The government has yet to establish GST filing guidelines for e-commerce businesses. Until then, you’ll have to file GST returns like everyone else. We’ll take care of it as part of this deal.

For each GSTIN, you must file a GST return. So, for one GSTIN, you must file three monthly filings and one yearly return. We shall only file GST returns for one GSTIN under this strategy. For several GSTINs, you will need to purchase extra packages.

Under GST model law, the processing time for a refund application is set at sixty days, but it might be as little as two weeks. Our professionals will assist you in obtaining a refund.

The review of records kept by the taxable person to verify the accuracy of information declared, taxes paid, and assess compliance with GST requirements is known as a GST audited. The taxpayer or the tax authorities can conduct the audit. Every registered taxable person whose annual turnover exceeds the statutory level [the turnover limit under the draught rules is above Rs 1 crore] must have his accounts audited by a CMA experts. Continue on for more information.

Our professionals will assist you with your tax audit. Please keep in mind that our package does not include auditing services. The CA assesses these charges independently.

To combat tax evasion and corruption, the GST has enacted stringent penalties, prosecution, and arrest provisions for violators. These include experts in fraud and tax evasion, among other things. Please read our article for more information.

Invoices for taxable supplies made to registered taxpayers are referred to as B2B invoices.

B2CL invoices are for taxable outward supplies to unregistered taxpayers where the supply is made interstate and the total invoice value exceeds Rs 2,50,000/-.

You will need to purchase a separate service plan to file GSTR 1 and 3B.

GSTR 9 is a report that summarises all of your GST returns. You can’t file GSTR 9 unless you’ve completed all of the GSTRs for the fiscal year.

GSTR 9 cannot be altered once it has been filed, which is why we obtain client agreement before submitting. Our tax professional will file the return only once you approve it.