#FAQs in GSTR 3B

[scbhagat]

GST Accountants in Delhi by SC Bhagat & Co.

Are you looking for trusted GST accountants in Delhi to manage your tax compliance and GST filings seamlessly? Look no further than SC Bhagat & Co., a renowned chartered accountancy firm with decades of experience in delivering precise, professional, and timely GST solutions for businesses of all sizes.

Why GST Accounting Matters

Since the implementation of the Goods and Services Tax (GST) in India, businesses have had to adapt to a unified indirect tax regime. Navigating the GST system involves multiple tasks including:

GST registration

Timely GST return filings (GSTR-1, GSTR-3B, GSTR-9, etc.)

Input Tax Credit (ITC) reconciliation

E-way bill and e-invoice compliance

GST audit and annual return preparation

Dealing with notices from GST authorities

To handle all these effectively, having a reliable and knowledgeable GST accountant becomes crucial.

GST Services Offered by SC Bhagat & Co.

At SC Bhagat & Co., we provide end-to-end GST services tailored to your business requirements. Our experienced team of GST accountants in Delhi ensures that your compliance is error-free, timely, and in line with the latest amendments.

1. GST Registration & Advisory

We help new businesses get GST registration quickly and offer consulting on applicable tax structures.

2. Monthly/Quarterly GST Filing

Our team ensures accurate and timely submission of GSTR-1, GSTR-3B, and other applicable forms to avoid penalties.

3. Input Tax Credit (ITC) Optimization

We conduct ITC audits and help you maximize your credit claims with proper reconciliation.

4. GST Audit & Annual Return

We assist with GSTR-9 and GSTR-9C filings and conduct GST audits as per legal mandates.

5. Handling GST Notices

Have you received a GST notice? Our team responds to GST queries and notices with complete documentation support.

6. Industry-Specific GST Solutions

Whether you're in e-commerce, manufacturing, real estate, or services—our accountants are equipped with domain-specific GST knowledge.

Why Choose SC Bhagat & Co.?

✔ Over 20 Years of Experience ✔ Registered Chartered Accountants with In-Depth GST Knowledge ✔ PAN-India Clientele ✔ Transparent Pricing & Customized Packages ✔ Dedicated Support for SMEs and Startups

We pride ourselves on providing accurate, timely, and ethical GST accounting services in Delhi. Our goal is to help you stay compliant while you focus on growing your business.

Who Needs GST Accounting Services?

Startups and new businesses

Small and Medium Enterprises (SMEs)

E-commerce sellers

Exporters & Importers

Service providers with interstate operations

Any business with GST obligations

Get in Touch with the Best GST Accountants in Delhi

If you’re seeking reliable GST accountants in Delhi, connect with SC Bhagat & Co. for a free consultation. Whether you need help with monthly filings, audits, or notice handling, we ensure hassle-free compliance and peace of mind.

Let SC Bhagat & Co. be your trusted partner for GST compliance!

FAQs

Q1: Do I need a GST accountant even if I file returns online myself? Yes. A professional accountant ensures accuracy, maximizes your ITC, and avoids legal penalties.

Q2: How often do I need to file GST returns? Generally, GST returns are filed monthly (GSTR-1, GSTR-3B) and annually (GSTR-9, GSTR-9C).

Q3: What happens if I miss a GST return deadline? You may face interest and late fees. Our accountants help you stay on track and avoid such situations.

Boost your tax compliance and save time with SC Bhagat & Co.—the top GST accountants in Delhi.

[ujaglobaladvisory]

GST Update on Table 3.2 Of Form GSTR-3b, Reporting of HSN, Amendment In Rule 168 And GST Registration

Advisory on Reporting Values in Table 3.2 of GSTR-3B - Apr 11th, 2025

Table 3.2 of Form GSTR-3B captures the inter-state supplies made to unregistered persons, composition taxpayers and UIN holders out of the supplies declared in Table 3.1 & 3.1.1 of GSTR-3B. The values in Table 3.2 of GSTR-3B auto-populates from corresponding inter-state supplies declared in GSTR-1, GSTR-1A and IFF in the requisite tables.

It is to inform you that from the April-2025 tax period,inter-state supplies auto-populated in Table 3.2 of GSTR-3B will be made non-editable. The GSTR-3B shall be filed with the auto-populated values generated only by the system.

Therefore, in case any modification/amendment is required in auto-populated values of Table 3.2 of GSTR-3B, the same can be done only by amending the corresponding values in the respective tables of GSTR-1A or through Form GSTR-1/IFF filed for subsequent tax periods.

To ensure that GSTR-3B is filed accurately with the correct values of inter-state supplies, it is advised to report the proper values in GSTR-1, GSTR-1A, or IFF. This will ensure the auto-populated values in Table 3.2 of GSTR-3B are accurate and compliant with GST regulations.

FAQs

What are the changes related to reporting supplies in Table 3.2? Starting from the April 2025 tax period, the auto-populated values in Table 3.2 of GSTR-3B for inter-state supplies made to unregistered persons, composition taxpayers and UIN holders will be non-editable and taxpayers will need to file GSTR-3B with the auto-populated values generated by the system only.

How can I rectify values in Table 3.2 of GSTR-3B if incorrect values have been auto-populated after the April 2025 period onwards due to incorrect reporting of the same through GSTR-1? If incorrect values are auto-populated in Table 3.2 after April 2025, taxpayers need to correct the values by making amendments through Form GSTR-1A or Form GSTR-1/IFF filed for subsequent tax periods.

What should I do to ensure accurate reporting in Table 3.2 of GSTR-3B? Taxpayers should ensure that the inter-state supplies are reported correctly in their GSTR-1, GSTR-1A, or IFF. This will ensure that the accurate values are auto-populated in Table 3.2 of GSTR-3B.

Till what time/date can I amend values furnished in GSTR-1 through Form GSTR-1A? As there is no cut-off date for filing Form GSTR-1A before GSTR-3B, which means Form GSTR-1A can be filed after filing Form GSTR-1 and till the time of filing Form GSTR-3B. Hence, any amendment required in auto-populated values of table 3.2, same can be carried out through Form GSTR-1A till the moment of filing GSTR-3B.

[rakeshjha1996]

GST Compliance in India: Complete Guide for Businesses

Goods and Services Tax (GST) is a unified indirect tax that has transformed the Indian taxation system. But with its dynamic framework and frequent updates, staying compliant is not just mandatory—it’s a competitive advantage.

This guide breaks down everything you need to know about GST compliance, its applicability, key processes, penalties, and answers to common questions.

What is GST Compliance?

GST compliance refers to timely and accurate adherence to all GST rules, regulations, and filing requirements under the Goods and Services Tax law. It ensures that a business:

Files returns on time

Reconciles input and output tax correctly

Issues valid tax invoices

Complies with e-invoicing and e-way bill norms

Avoids penalties, interest, and departmental notices

Who Needs to Be GST Compliant?

Businesses are required to register under GST and follow compliance provisions if they meet any of the following conditions:

Criteria

Threshold (as of current rules)

Aggregate Turnover (Goods - Normal)

₹40 Lakhs (₹20 Lakhs in special category states)

Aggregate Turnover (Services)

₹20 Lakhs (₹10 Lakhs in special category states)

Interstate supply or e-commerce

Mandatory registration irrespective of turnover

Casual taxable person / Input Service Distributor / Non-resident taxable person

Mandatory GST registration

Key Components of GST Compliance

1. Return Filing

GSTR-1 – Monthly/quarterly outward supply return

GSTR-3B – Summary return of outward and inward supplies

GSTR-9 – Annual return

GSTR-9C – Reconciliation statement (if applicable)

2. Reconciliation

Matching books of accounts with GSTR-2A/2B, GSTR-1 vs 3B

Identifying mismatches in ITC and outward tax liability

3. Input Tax Credit (ITC) Optimization

Availing eligible ITC under Section 16 of CGST Act

Ensuring suppliers have filed GSTR-1

Reversals under Rule 42, 43, or ineligible ITC

4. E-Invoicing & E-Way Bill

Mandatory for businesses with turnover > ₹5 Cr (e-invoicing)

Ensuring movement of goods is supported by valid E-Way Bills

5. Registration & Amendments

Timely registration of business

Updating PAN, address, authorized signatories on GST portal

6. Responding to Notices

Proper documentation & timely reply to notices (like DRC-01, ASMT, etc.)

Avoiding litigation through proactive compliance

Why GST Compliance is Crucial

Avoids Penalties & Interest Delayed or wrong filings attract heavy fines and interest.

Ensures Seamless ITC Flow Non-compliance by your supplier can block your input credit.

Enhances Business Reputation Clean compliance record builds trust with clients, vendors & authorities.

Prepares You for Audits & Assessments Ensures you're ready for GST audits or departmental scrutiny.

Penalties for Non-Compliance

Nature of Default

Penalty

Late filing of returns

₹50/day (₹20/day for Nil returns)

Wrong ITC claim

Interest + Penalty under Sec 73/74

Not issuing invoice

₹10,000 or amount of tax evaded (whichever higher)

Not registering under GST

100% tax due or ₹10,000 (whichever higher)

FAQs on GST Compliance

Q1. What are the due dates for GST return filing?

GSTR-1: 11th of the next month / quarterly (IFF)

GSTR-3B: 20th, 22nd, or 24th depending on state

GSTR-9: 31st December following the financial year

Q2. Is GST applicable to freelancers and consultants?

Yes. If your income exceeds ₹20 lakh (₹10 lakh in special category states), GST registration is mandatory for service providers.

Q3. Can I claim ITC if the supplier hasn’t filed GSTR-1?

No. As per Rule 36(4), ITC can only be claimed if it appears in GSTR-2B, which is populated from supplier’s GSTR-1.

Q4. Is GST applicable to export of services?

Export of services is treated as zero-rated supply under GST, but you must file LUT or claim refund of ITC or IGST.

Q5. What is the penalty for wrong ITC claim?

If claimed in good faith – interest @18% p.a. If found fraudulent – 100% penalty + prosecution under Section 74.

Final Word

GST compliance is not just about return filing. It’s about building a robust tax governance system that aligns with changing regulations, prevents revenue leakage, and keeps your business audit-ready.

With ever-increasing departmental scrutiny and real-time data integration, staying compliant is a business necessity.

[triridbilling]

What is GST and Why Accurate Billing Matters?

It's a Goods and Services Tax (GST) that came out for India as an indirect tax system under one head to replace the various indirect taxes such as VAT, service tax, and excise duty with effect from July 01, 2017, to simplify the taxation process in the country. The main intention was to create a tax system to be called "one nation, one tax," making compliance easy and boosting transparency in business transactions.

GST can be classified into three categories from the point of view of nature of the transaction; they include:

CGST (Central GST): Which is levied on an intra-state sale by the central government.

SGST (State GST): Which is levied on an intra-state sale by the state government.

IGST (Integrated GST): Which is levied on inter-state transactions and falls under the head of central government for collection.

Having said that, India's GST tax system has been formulated by defining multiple tax slabs such as 5%, 12%, 18%, and 28%, depending on the type of goods or services. Generally, it has been observed that essential appeals are placed in the lower slabs, while luxury ones go as high as possible.

Healthy and Accurate Billing in GST

Accurate billing plays an important part in GST compliance. A proper invoice should include:

Invoice number and date

Seller and buyer's GSTIN

HSN/SAC codes

Tax rate and amount break up

Place of delivery

The effects of errors in billing, such as wrong GSTINs, incorrect tax rates, or missing invoice elements, are that they lead to mismatching of returns and thus delay in input tax credits. By the GST Law, wrong billing can attract fines starting from ₹10,000 or 10% of the tax due-whichever is higher.

Benefits of Accurate GST Billing

Germ-free Return Filing: Correct invoices assure that you can file GSTR-1, GSTR-3B, GSTR-9 with no discrepancy.

Avoid Penalty: Avoid compliance hassle, audit, and government scrutiny.

Better Business Reputation: More professional and transparent invoices create better trust in clients and stakeholders.

Input Tax Credit Accuracy: Buyers can claim true ITC only if the invoices of their supplier are true and timely.

How Software Helps

Modern GST billing software automatically solves an equation, checks GST institutions, brings tax slabs up to date, and links the GST portal to perform direct uploads at the same time. With features like multi-user access, e-invoicing, and real-time reporting, it minimizes manual errors, optimizes tax compliance, and saves time.

Final Words

GST simplified taxation in India. But accurate billing is essential for compliance and competitiveness in business. Whether you run a small or large enterprise, entrusting reliable billing tools to use best practices is sufficient for smoother operational processes while keeping illegal risks at bay and developing long-term trust from customers and tax authorities.

This article was originally published on Tririd Biz

Contact

Call us @ +91 8980010210

Visit Our Website:  https://tririd.com/tririd-biz-gst-billing-accounting-software

FAQ

Q1: Penalties for Wrong GST Billing

A: Penalties will start from a minimum of ₹10,000 or 10% of the tax amount and may be accompanied by an interest charge and GST registration cancellation for repeated offenders.

Q2: How frequently should GST invoicing be reconciled?

A: Monthly is an ideal practice to confirm that your GSTR-1 and GSTR-3B are in sync consistent and thereby claim rightful ITC.

Q3: For GST billing, is the use of free tools permissible for small businesses?

A: Yes! Many included applications on their scene offer free basic GST billing features perfectly suited for startups or micro-businesses.

Q4: What are necessary features of GST billing software?

A: Auto-calculation, GSTIN validation, HSN/SAC codes, integration of GSTR filing, and e-invoicing.

Q5: Will e-invoicing be a requirement for all businesses?

A: As of now, registration for e-invoicing is required for turnover more than ₹5 crores, but it might become universal in the future.

[rajpalsinghandassociates]

Discover The Leading Chartered Accountant Firm in Gurgaon | RPSA & Associates

Are you looking for a trusted Chartered Accountant Firm in Gurgaon to handle your accounting, taxation, auditing, and financial advisory needs? Look no further than RPSA & Associates, a leading CA firm in Gurgaon offering comprehensive financial solutions for businesses, startups, and individuals.

With a team of highly skilled Chartered Accountants in Gurgaon, we provide expert guidance on GST, income tax, company compliance, auditing, and business advisory services. Our firm is dedicated to helping clients achieve financial efficiency, regulatory compliance, and sustainable growth.

Why Choose RPSA & Associates – Top CA Firm in Gurgaon?

1. Expert Chartered Accountants in Gurgaon

Our team consists of certified Chartered Accountants (CAs) with years of experience in taxation, auditing, and financial consulting. We stay updated with the latest regulatory changes to ensure compliance and optimal financial planning.

2. Comprehensive Accounting & Taxation Services

We offer end-to-end financial services, including:

GST Registration & Filing

Income Tax Return (ITR) Filing

Tax Planning & Advisory

Company Incorporation & Compliance

Audit & Assurance Services

TDS/TCS Compliance

Financial Reporting & Bookkeeping

3. Business Advisory & Compliance Support

For startups and established businesses, we provide:

Company Registration (Pvt Ltd, LLP, OPC)

ROC Compliance & Annual Filings

Foreign Investment (FDI) Advisory

Payroll & HR Compliance

Due Diligence & Internal Audits

4. Personalized Financial Solutions

Every business has unique financial needs. Our Chartered Accountant firm in Gurgaon offers customized solutions tailored to your industry, business size, and financial goals.

5. Trusted by Businesses Across Gurgaon

With a strong reputation for reliability and professionalism, RPSA & Associates is a preferred CA firm in Gurgaon for SMEs, corporates, and entrepreneurs.

Key Services Offered by Our Chartered Accountant Firm in Gurgaon

1. GST Services

GST Registration & Cancellation

GST Return Filing (GSTR-1, GSTR-3B, GSTR-9)

GST Audit & Reconciliation

GST Refund & Litigation Support

2. Income Tax Services

ITR Filing for Individuals & Businesses

Tax Planning & Savings Strategies

TDS/TCS Compliance & Filing

Income Tax Assessment & Appeals

3. Audit & Assurance

Statutory Audit

Internal Audit

Tax Audit

Forensic Audit

4. Company Registration & Compliance

Private Limited Company Registration

LLP Registration & Compliance

Nidhi Company Registration

NBFC Compliance

5. Accounting & Bookkeeping

Monthly/Quarterly Bookkeeping

Financial Statement Preparation

Payroll Processing

MIS Reporting

Industries We Serve

Our Chartered Accountant firm in Gurgaon caters to diverse industries, including: ✔ IT & Startups ✔ Real Estate & Construction ✔ Manufacturing & Trading ✔ E-commerce & Retail ✔ Healthcare & Hospitality ✔ Bsanking & Financial Services

Why Gurgaon Businesses Trust RPSA & Associates?

✅ Experienced & Qualified CAs ✅ Timely & Accurate Financial Reporting ✅ Cost-Effective Solutions ✅ Proactive Tax & Compliance Support ✅ Client-Centric Approach

Contact the Best Chartered Accountant Firm in Gurgaon

If you need expert Chartered Accountant services in Gurgaon, RPSA & Associates is here to help. Whether you need GST filing, tax planning, company registration, or audit services, our team ensures seamless financial management.

📞 Call Us: (+91) 9870270647,9811115414 📧 Email: rajpalsinghassociates@gmail.com 🌐 Website: https://rpsa.co.in

Frequently Asked Questions (FAQs)

Q1. What services does a Chartered Accountant firm in Gurgaon offer? A CA firm in Gurgaon provides accounting, taxation, auditing, GST filing, company registration, and financial advisory services.

Q2. How can a CA firm help my business in Gurgaon? A professional Chartered Accountant firm ensures compliance with tax laws, optimizes financial performance, and helps in business growth through strategic planning.

Q3. What is the cost of hiring a CA firm in Gurgaon? The cost varies based on services required. RPSA & Associates offers competitive pricing for startups, SMEs, and large enterprises.

Q4. How do I choose the best CA firm in Gurgaon? Look for experience, expertise, client reviews, and a proven track record in financial and compliance services.

Conclusion

For reliable and professional Chartered Accountant services in Gurgaon, RPSA & Associates stands out as a top choice. Our expertise in taxation, compliance, and financial advisory ensures that your business stays compliant and financially healthy.

🔗For more information Visit Us Today:

 RPSA & Associates:

📍 Address:  SCO-37, 2nd Floor, Above Domino's, HUDA Market, Sector-15, Part-2, Gurugram-122001(Haryana)

Let’s streamline your finances and drive business success with expert CA services in Gurgaon.

[taxationplanning]

QRMP Scheme: All About Quarterly Payment Monthly Payment Scheme In GST

QRMP Scheme In this article, we will discuss about the meaning and FAQs on availability, pre-conditions, forms etc. under the QRMP Scheme in GST. Quarterly Returns with Monthly Payment (QRMP) Scheme is for eligible taxpayers to file their Form GSTR-1 and Form GSTR-3B returns on quarterly basis, while paying their tax dues on monthly basis through a challan. Now let’s discuss about various FAQs…

[taxdunia]

Filing GST Returns Online? : Expert Tips from TaxDunia , the Best Income Tax Consultant in India

What is the GST Return?

A GST return is a document that taxpayers (businesses registered under the GST regime) must file with the tax authorities. It contains details of income, purchases, sales, and taxes paid. Based on this return, the government calculates the tax liability of a business. Filing GST returns accurately and on time is crucial to stay compliant with Indian tax laws.

In India, the Goods and Services Tax (GST) has streamlined the taxation system, making it easier for businesses to comply with tax regulations. Filing GST returns online is a crucial aspect of this system, and it’s essential for businesses to understand the process to avoid penalties and ensure smooth operations. This guide will walk you through the steps of Online GST return filing and highlight the importance of choosing the right GST Return Filing Services in India.

Navigating the complexities of the Goods and Services Tax (GST) return filing process can be challenging, especially for businesses striving to maintain compliance and avoid penalties. With the guidance of TaxDunia, recognized as the best income tax consultant in India, filing your GST returns online becomes a seamless experience. In this FAQ-style blog, we provide expert tips and answers to common questions related to GST return filing, ensuring that you’re well-equipped to handle your tax obligations.

Easy Guide to Filing GST Returns Online in India:

Step 1: Obtain GST Registration

Before you can file GST returns, your business must be registered under GST. You can do this by availing of GST Registration Service from Top Income Tax Consultants like TaxDunia. Once registered, you will receive a unique GSTIN (Goods and Services Tax Identification Number) that you will use for all future transactions and filings.

Step 2: Collect Required Information

To file your GST return, you need to gather all the necessary documents and information. This includes:

Sales and purchase invoices

Debit and credit notes

Bank statements

Details of tax collected and paid

This information is essential for accurately reporting your income and claiming input tax credits.

Step 3: Sign in to the GST Website

Visit the official GST portal (www.gst.gov.in) and log in using your credentials. If you do not have an account, you can create one using your GSTIN.

Step 4: Select the Appropriate GST Return Form

Once logged in, navigate to the ‘Services’ tab, select ‘Returns,’ and choose the return form applicable to your business. For most regular taxpayers, GSTR-3B and GSTR-1 are the commonly used forms.

Step 5: Fill in the Details

Enter all the required details in the selected GST return form. Ensure that you provide accurate information, especially regarding sales, purchases, and tax paid. The GST portal provides options to upload invoices, which can make this process easier.

Step 6: Verify and Submit

After filling in all the details, check them carefully to make sure everything is correct. Mistakes can result in fines, so it’s important to review everything. Once you’re sure it’s right, submit the return.

Step 7: Pay Tax Liability

If you have a tax liability after claiming input tax credits, you must pay it before submitting the return. You can pay this online through net banking, debit/credit card, or other available payment options on the GST portal.

Step 8: File Return

After payment, you can proceed to file your GST return. Upon successful submission, you will receive an acknowledgment reference number (ARN) as proof of filing.

Who Needs to File GST Returns?

All businesses registered under GST are required to file GST returns, regardless of whether they have made any sales during the tax period. This includes:

Regular taxpayers

Composition scheme taxpayers

Non-resident taxpayers

Input service distributors

E-commerce operators

Even if your business falls under a specific category, seeking the help of Top Income Tax Consultants like TaxDunia can simplify the process and ensure that you’re filing the correct returns.

Why Choose TaxDunia as Your Income Tax Consultant?

TaxDunia is recognized as the best income tax consultant in India for a reason. Their expertise in GST return filing, combined with their commitment to client satisfaction, makes them the ideal choice for businesses of all sizes. Whether you need help with filing returns, GST registration, or compliance, TaxDunia offers comprehensive services tailored to your needs.

TaxDunia offers end-to-end support for goods and services tax filing, from preparing and reviewing your returns to submitting them online. Their team of experts ensures that all details are accurate and that your business complies with the latest GST regulations.

TaxDunia is renowned as the best income tax consultant in India. Here’s why:

Expertise: With years of experience in tax consulting, TaxDunia offers comprehensive solutions for GST Registration Service, Online GST return filing, and other Tax Consultant Services.

Personalized Services: TaxDunia tailors its services to meet the specific needs of your business, ensuring you get the best possible advice and support.

Client-Centric Approach: TaxDunia values its clients and works tirelessly to provide the best service, making it one of the Top Income Tax Consultants in India.

Common Challenges in GST Return Filing and How TaxDunia Can Help

Filing GST returns can present several challenges, especially for small and medium-sized businesses:

Complexity: Understanding the various forms and their requirements can be confusing.

Keeping Track of Deadlines: Missing deadlines can result in penalties and interest charges.

Reconciling Data: Matching sales and purchase data with the GST portal can be time-consuming.

Claiming Input Tax Credit: Ensuring that all eligible input tax credits are claimed correctly is crucial for reducing tax liability.

TaxDunia Best Income Tax Advisors can help you overcome these challenges by providing expert guidance and support. They ensure that your returns are filed correctly and on time, helping you avoid any legal issues.

New GST Return (FAQs) — Frequently Asked Questions

1.What is the new GST return system?

The new GST return system is a simplified tax return filing process introduced by the Indian government to replace the earlier GSTR-1, GSTR-2, and GSTR-3 returns. It aims to make the goods and services tax filing process more straightforward for taxpayers.

2. Who needs to file the new GST returns?

All taxpayers registered under GST, except composition taxpayers, need to file the new GST returns. This includes regular taxpayers, input service distributors, non-resident taxable persons, and e-commerce operators.

3. What are the different forms under the new GST return system?

The new GST return system consists of three main forms:

GST RET-1 (Normal): For regular taxpayers with more complex transactions.

GST RET-2 (Sahaj): For taxpayers with only B2C (Business-to-Consumer) transactions.

GST RET-3 (Sugam): For taxpayers with both B2B (Business-to-Business) and B2C transactions.

4. What is the role of GST ANX-1 and GST ANX-2 forms?

GST ANX-1: This annexure captures the details of outward supplies, imports, and inward supplies liable to reverse charge.

GST ANX-2: This annexure auto-populates the details of inward supplies received from the suppliers, which the recipient can accept, reject, or keep pending.

5. How do I file the new GST return online?

You can file the new GST return online by logging into the GST portal using your credentials, selecting the appropriate return form (GST RET-1, RET-2, or RET-3), filling in the necessary details, and submitting the return. Businesses can seek professional assistance from GST Return Filing Services in India to ensure accurate and timely filing.

6. What are the deadlines for filing the new GST returns?

The deadlines for filing the new GST returns depend on the type of taxpayer and the form being filed:

GST RET-1 (Normal): Monthly or quarterly, depending on turnover.

GST RET-2 (Sahaj): Quarterly.

GST RET-3 (Sugam): Quarterly.

It’s important to meet these deadlines to avoid extra fees and charges.

7. Can I claim Input Tax Credit (ITC) under the new GST return system?

Yes, you can claim Input Tax Credit under the new GST return system. The details of eligible ITC will be auto-populated in the GST ANX-2 form, which you can accept and claim while filing your return.

8. What happens if there is a mismatch in the ITC claim?

If there is a mismatch between the ITC claimed by the recipient and the details provided by the supplier, it will be flagged in the GST ANX-2 form. The recipient will have the option to either reconcile the difference or follow up with the supplier for correction.

9. What is the GST PMT-08 form?

The GST PMT-08 form is used by taxpayers under the new return system to pay tax on a monthly basis. It acts as a self-declaration for tax payment, and the amount paid will be reflected in the return filed.

10. How does the new return system impact small businesses?

The new GST return system is designed to be more user-friendly for small businesses, especially with the introduction of simplified returns like Sahaj (GST RET-2) and Sugam (GST RET-3). These forms reduce the compliance burden on small businesses by streamlining the return filing process.

11. Can I correct my GST return after it’s been submitted?

No, the new GST return system does not allow for the revision of returns after filing. However, you can make corrections in the subsequent returns if needed.

12. What is the Nil Return in the new GST return system?

A Nil Return is a return filed by a taxpayer when there are no transactions during a particular tax period. Even if there are no transactions, registered taxpayers are required to file a Nil Return to stay compliant.

13. What is the penalty for late filing of the new GST return?

The penalty for late filing of the new GST return is Rs. 50 per day for normal taxpayers (Rs. 25 each for CGST and SGST). For Nil returns, the penalty is Rs. 20 per day (Rs. 10 each for CGST and SGST).

14. How does the new GST return system simplify compliance?

The new GST return system simplifies compliance by reducing the number of returns and introducing auto-populated forms like GST ANX-2, which minimizes manual data entry and errors. It also provides a user-friendly interface for filing returns online.

15. Can I file my GST return on my own, or should I hire a consultant?

While you can file your GST return on your own, it’s advisable to seek the help of Top Income Tax Consultants like TaxDunia to ensure accuracy and compliance. Professional Tax Consultant Services can help you navigate the complexities of the GST system and avoid potential penalties.

16. What are the benefits of using GST Return Filing Services in India?

Using GST Return Filing Services in India offers several benefits, including:

Accuracy: Ensures accurate and error-free returns.

Timeliness: Helps you meet deadlines and avoid penalties.

Compliance: Keeps you updated with the latest GST regulations.

Peace of Mind: Allows you to focus on your core business activities.

17. How does the new GST return system impact input service distributors (ISD)?

Input service distributors must file the GST ANX-1 form to distribute input tax credit to their units. The process is similar to the earlier system, with some modifications to accommodate the new return format.

Conclusion

Filing GST returns online in India is a crucial task that requires careful attention to detail and adherence to deadlines. By following the steps outlined in this guide, you can ensure that your returns are filed accurately and on time. However, given the complexities involved, it’s often beneficial to seek the assistance of professionals like TaxDunia.

TaxDunia, recognized as the best income tax consultant in India, offers comprehensive GST Return Filing Services in India. Their expertise in Tax Consultant Services and GST Registration Service makes them the ideal partner for your goods and services tax filing needs. Whether you’re a small business owner or a large corporation, TaxDunia’s team of Best Income Tax Advisors can help you navigate the complexities of GST and ensure your business remains compliant with all tax regulations.

For more information on how TaxDunia can assist you with Online GST return filing, visit their website at www.taxdunia.com.

Other Link

Private Limited Company Registration

One Person Company Registration Service in India

Trademark Registration in India

TDS Return Filing Service in India

Copyright Registration in India

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A GSTR-3B guide is a document that provides instructions and information on how to fill out and file the GSTR-3B return, which is a monthly summary return required under the Goods and Services Tax (GST) system in India. It includes details on due dates, eligibility, form components, filing process, common errors to avoid, FAQs, and contact information for assistance. It helps businesses accurately report their GST-related information to stay compliant with tax regulations.

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Simplifying the GST Refund Process: Highlights of the 47th GST Council Meeting

Are you tired of the complex and time-consuming GST refund process? Well, there’s good news for you! The 47th GST Council Meeting held on 28th March 2020 introduced some significant changes to simplify the GST refund process. In this article, we will highlight the key takeaways from the meeting and how they can make the GST refund process hassle-free for businesses.

Introduction to GST Refund Process

Before we delve into the details of the 47th GST Council Meeting, let’s have a quick overview of the GST refund process. GST or Goods and Services Tax is an indirect tax levied on the supply of goods and services in India. Businesses registered under GST are eligible to claim refunds on taxes paid on inputs such as raw materials, capital goods, and services used in the production process. However, the refund process can be complicated, time-consuming, and prone to errors, leading to delays and financial losses for businesses.

Key Highlights of the 47th GST Council Meeting

The 47th GST Council Meeting aimed to address the challenges faced by businesses in the GST refund process and introduced several changes to simplify the process. Let’s take a look at the key highlights of the meeting.

Extension of the Refund Period

The Council extended the refund period for inverted duty structure cases from the current quarter to a maximum of one year from the relevant date. This move will provide relief to businesses that have been struggling to claim refunds due to the lengthy refund process.

Reduction in Late Fee Charges

To encourage the timely filing of refund applications, the Council reduced the late fee charges for GSTR-3B and GSTR-1 returns. Businesses filing GSTR-3B and GSTR-1 returns between 1st July 2020 to 30th September 2020 will be liable to pay a late fee of Rs. 500/- instead of Rs. 2000/-.

Automated Refund Process

The Council introduced an automated refund process for exports of goods and services with effect from 24th March 2020. The process will ensure quick and hassle-free refunds to exporters, reducing the processing time to a maximum of three days.

Provisional Refund of 90% of Claimed Amount

To provide immediate relief to businesses, the Council introduced a new rule of granting a provisional refund of 90% of the claimed amount for refund applications filed on or after 26th March 2020. The provisional refund will be granted within seven days of filing the refund application, and the balance amount will be granted after due verification.

Simplified Refund Application Process

The Council simplified the refund application process by introducing a single refund application form for all types of refund claims. The new form will be applicable from 1st April 2020, reducing the paperwork and saving time for businesses.

Conclusion

The changes introduced in the 47th GST Council Meeting will go a long way in simplifying the GST refund process and providing relief to businesses struggling with the process. The extended refund period, reduction in late fee charges, automated refund process, provisional refund, and simplified refund application process will make the process hassle-free and less time-consuming for businesses.

FAQs

1. What is the GST refund process?

The GST refund process allows businesses to claim refunds on taxes paid on inputs such as raw materials, capital goods, and services used in the production process.

2. What are the challenges faced by businesses in the GST refund process?

The GST refund process can be complicated, time-consuming, and prone to errors, leading to delays and financial losses for businesses.

Are you Looking for GST Refund Service? Mygstrefund.com offers GST refunds on business, exports, and many more if your GST application is rejected. Get in touch with us today.

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FAQ on GSTR 1A, Important Questions Related to GSTR-1A

FAQ on GSTR 1A, Important Questions Related to GSTR-1A

FAQ on GSTR 1A Return, Important Questions Related to GSTR-3B with Solutions. Creation and Submission of Addendum to Outward Supplies Return. all you need to know about GSTR 1A… FAQ on GSTR 1A 1. What is GSTR 1A? GSTR-1A is an addendum to Form GSTR-1 i.e. Outward supplies statement of the supplier. It is always generated on the basis of details added/ modified/ rejected by the counterparty…

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FAQs for Blocking & Unblocking of E-Way Bill generation facility in EWB Portal

Blocking of e-waybill generation facility means disabling taxpayer from generating E Way Bill, in case of non-filing of 2 or more consecutive GSTR 3B Return on GST Portal.

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GST is a complex law and it is thus common that taxpayers commit mistakes in GSTR 3B and GSTR 1 while filing the GST Return. However, once filed revisions aren’t allowed in these returns, the government has set out some rules to make rectify the mistakes in GSTR 3B and GSTR 1 for the ease and convenience of the taxpayers.

Off the GSTR 3B preparation process listed below, not all stages can be edited

Stage 1 – Confirm Submission,

Stage 2 – Cash Ledger Update

Stage 3 – Offset Liability,

Stage 4 – Return filed.

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Notification No. 57/2020 - Lowering of GST late fee for GST filing upto July 2020

Notification No. 57/2020 – Lowering of GST late fee for GST filing upto July 2020

In order to provide the relief to the taxpayers, the Central Board of Indirect Taxes and Customs (CBIC) has released the Notification No. 57/2020 – Central Tax in which relaxation has been given to even those taxpayers who has failed to file the GSTR 3B for the Feb 2020 to July 2020. The new extended dates are as follows:-

For the Taxpayers having Aggregate Turnover of more than Rs. 5 Crores

Febr…

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Hi There..! GST tax system is not just simple as you think. so you having doubts about This GST tax system and GST return filing. you have a search about it on net. but do you think this information is valid and authentic.? let me help you with this. we have created a video on all the information about GST Return filing.

we have a guest at our office CA. Sugandh Jain. She tried to explain FAQs (frequently asked questions) by businesses regarding GST Return filing (GSTR 1, GSTR 3B, GSTR 9 and other forms), Input Tax Credit and the importance of reconciliation in GST to businesses.  

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Form GSTR-3B Filing: Key FAQs Explained

Form GSTR-3BAbout Form GSTR-3BFiling Nil Form GSTR-3BSystem Generated GSTR-3BEntering Details in Form GSTR-3BPreview & Filing Form GSTR-3BChanging Return Filing PreferenceCancellation and Revocation Scenarios Form GSTR-3B For ease of understanding of GST law, we are presenting FAQs on Form GSTR-3B. Hope, this article will help you in understanding various concepts of Form GSTR-3B. So let’s…