Gst Annual Return

Common Questions

Most Popular Questions

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GST Annual Return Filing is the process of submitting details of sales, purchases, input tax credit, and tax liabilities for a specific financial year to the Goods and Services Tax Network (GSTN).

Registered taxpayers under the Goods and Services Tax (GST) regime, including businesses and entities exceeding the specified turnover threshold, are required to file GST Annual Returns.

The due date for GST Annual Return Filing is generally on or before December 31st of the subsequent financial year, providing taxpayers with sufficient time to reconcile and prepare the annual return.

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Documents such as summary of sales and purchases, input tax credit details, reconciliation statement, and other relevant financial documents are needed for GST Annual Return Filing.

The due date for both forms generally falls on December 31st of the year following the relevant financial year.

No, GST Annual Return once filed cannot be revised. However, taxpayers can rectify any errors or omissions in the subsequent financial year's return.

Yes, the Goods and Services Tax Network (GSTN) provides an online portal for taxpayers to file their GST Annual Returns electronically from the convenience of their homes or offices.

Incorrect GST Annual Return Filing may lead to penalties, fines, and other legal consequences, besides adverse impact on the taxpayer's compliance rating.

CompanyAvenue Advisory provides expert assistance for GST Annual Return Filing, including preparation of returns, compliance with GST laws, reconciliation of data, and guidance on input tax credit, ensuring accurate and timely filing.

Late filing attracts late fees determined by the GST Act, with potential legal consequences for significant delays.

You can revise your return before the due date for filing revisions as specified by the GST authorities.

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