Goods and Services Tax (GST) is an indirect tax that applies to businesses and individuals involved in selling goods or providing services in India. It replaces multiple taxes like VAT, service tax, and excise duty, simplifying the taxation system. GST is a destination-based tax, meaning it is collected at the point of consumption rather than production. Every registered taxpayer must comply with GST regulations by filing periodic returns that report sales, purchases, taxes collected, and taxes paid.
GST Return Filing
GST Return Filing
GST Return Filing Made Easy With Taxwaale!
How to File Your GST Returns?
The GST return filing process involves the following steps:
Penalties for Late GST Returns Filing
Failing to file GST returns on time results in penalties and interest charges. The government imposes a late fee of ₹50 per day (₹25 CGST + ₹25 SGST) for normal returns and ₹20 per day (₹10 CGST + ₹10 SGST) for nil returns. Additionally, an 18% annual interest is charged on outstanding tax liabilities.
Repeated non-compliance can lead to suspension or cancellation of GST registration, restricting business operations. Timely filing helps avoid unnecessary financial losses and legal complications.
What Can We Do For You?
At Taxwaale, we simplify GST return filing, ensuring accuracy and compliance. Our experts handle everything from data entry to return submission, saving you time and effort. We remind you of due dates, verify tax details, and assist with any corrections.
Let us handle your GST returns so that you can avoid penalties and tax-related stress. Get in touch with Taxwaale today and file your GST returns hassle-free!
Get in Touch with Taxwaale
Whether you’re an individual looking for tax-saving strategies or a business seeking comprehensive financial solutions, Taxwaale is here to help.
Take the first step towards hassle-free financial management and compliance. Contact us today to experience the difference that expert guidance makes.
GLOBAL TAXWAALE CONSULTANTS LLP, NOIDA
