File proper GST returns and become GST compliant!
Under the Goods and service tax Regime every registered taxpayer is required to file the numerous monthly and annual returns. Failing to do so can attract a considerable amount of fines. Now you can seamlessly file your GST returns with the assistance of Lawdef.
Frequently Asked Questions
If GST Returns are not filed within time, you will be liable to pay interest and a late fee. The amount of late fee is Rs. 100 per day per Act. So it is 100 under CGST & 100 under SGST. Total will be Rs. 200/day. Maximum is Rs. 5,000. Further, an interest is required to be paid at the rate of 18% per annum. The amount of interest will be calculated on the amount of outstanding tax to be paid. The time period will be from the next day of filing to the date of payment.
There is no requirement of filing the GST returns by every business unit. Their requirement of GST returns by required business units is elaborated above.
No, it is not possible to revise GSTR-3B once filed. But Government has now allowed to ‘Reset GSTR 3B’ after submission but before filing the return.
No, there is no requirement of uploading the entire invoices rather you are just required to mention prescribed fields of information from invoices.
Yes, the taxpayer is required to upload both the money and taxable value of the transaction carried out. In the case of transactions with no consideration, the supply is presumed to take place thus the taxable value must be calculated and stated in the returns filed.
No, there is no such requirement of uploading the complete description. Only HSN code in respect of the supply of goods and Accounting code in respect of the supply of services will have to be fed. The minimum number of digits that the filer will have to upload would depend on his turnover in the last year.