CAPLUS, is your trusted partner for all GST-related services, including GST registration and GST return filing. With years of expertise, we simplify tax compliance to help businesses focus on growth.
What is GST?
The Goods and Services Tax (GST) is a comprehensive indirect tax that has replaced various state and central taxes in India. Introduced on July 1, 2017, GST simplifies the tax structure, making it uniform across the country. Businesses dealing in goods or services with an annual turnover above the specified threshold are required to register for GST and file returns regularly.
Key Benefits of GST:
Avoids double taxation by combining various indirect taxes into one.
Uniform structure and online filing system
Allows seamless input tax credit, reducing overall tax liability.
Creates a single market by removing state-specific taxes.
GST Registration
GST registration is mandatory for businesses exceeding the turnover threshold or those involved in interstate supplies, e-commerce, or other specific categories. Registering for GST assigns a unique Goods and Services Tax Identification Number (GSTIN).
Who Needs GST Registration?
1.Businesses with an annual turnover exceeding ₹40 lakhs (₹10 lakhs for special category states).
2. Interstate suppliers of goods or services.
3. E-commerce operators.
4. Agents of suppliers and input service distributors.
5.Casual taxable persons and non-resident taxable persons.
Benefits of GST Registration:
Legal recognition as a supplier of goods or services.
Eligibility for input tax credit.
Seamless interstate sales.
Simplified compliance under a single tax system.
Documents Required for GST Registration:
PAN of the applicant.
Identity and address proof of promoters/directors.
Address proof of the business.
Proof of business registration or incorporation.
Bank account details.
Steps for GST Registration:
1. Visit the GST portal (www.gst.gov.in).
2. Fill in the application form (Form GST REG-01).
3. Upload the required documents.
4.Verify using OTP or digital signature.
5.Receive the GSTIN upon approval.
At CAPLUS, we ensure a hassle-free GST registration process, guiding you every step of the way.
GST Return Filing
GST return filing is a mandatory process where registered taxpayers submit details of their sales, purchases, and tax collected and paid to the government. Regular filing ensures compliance and avoids penalties.
Types of GST Returns:
1. GSTR-1: Details of outward supplies (sales).
2. GSTR-2A/2B: Auto-drafted details of inward supplies (purchases).
3. GSTR-3B: Monthly summary return for tax liability and input tax credit.
4. GSTR-4: Annual return for composition scheme taxpayers.
5. GSTR-9: Annual return for regular taxpayers.
6. GSTR-10: Final return upon cancellation of GST registration.
Importance of Filing GST Returns:
Ensures compliance with the law.
Helps claim input tax credit.
Avoids penalties and legal issues.
Maintains credibility with stakeholders.
How to File GST Returns:
1. Login to the GST portal.
2. Select the relevant return form (e.g., GSTR-1, GSTR-3B).
3. Fill in the details of sales, purchases, and tax paid.
4. Validate the data and submit.
5. Pay the required tax liability and file the return.
Late Fees and Penalties:
Late filing attracts a penalty of ₹50 per day (₹20 per day for nil returns).
Interest at 18% per annum is charged on the outstanding tax amount.
Why Choose CAPLUS for GST Services?
Expert Assistance:Our team ensures accurate and timely filing of GST returns.
Affordable Pricing:Competitive rates for GST registration and return filing.
Personalized Support:Dedicated advisors for tailored solutions.
End-to-End Services:From GST registration to compliance management, we handle it all.
What is the GST turnover threshold for registration?
What happens if I don’t register for GST?
How often do I need to file GST returns?
Can I claim input tax credit without filing GST returns?
How long does it take to complete GST registration with CAPLUS?
What is the penalty for late GST return filing?