GST Registration & ReturnsHandled by experts

GST or Goods and Services Tax is a tax introduced by the government of India. It is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. 

GST Registration:

Businesses with an annual turnover of over Rs.40 lakhs (Rs 20 lakhs for North-Eastern and hill states) are required to register as a normal taxable person. This process of registration is called GST registration. GST registration usually takes between 2-6 working days. 

It’s mandatory for certain businesses to register for GST. If the organization carries on business without registering for GST, it will amount to an offence under GST and heavy penalties will apply.

GST Return:

A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability. Under GST, a registered dealer has to file GST returns that include:

• Purchases

• Sales

• Output GST (On sales)

• Input tax credit (GST paid on purchases)

In the GST regime, any regular business has to file three monthly returns and one annual return. This amounts to 37 returns in a year. The beauty of the system is that 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.

There are separate returns required to be filed by special cases such as composition dealers.

DOCUMENTS REQUIRED

• PAN

• Aadhaar

• Address Proof

• Invoices

• Bank Statements