A Comprehensive Overview-GST Filing Charges in India
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Goods and Services Tax, (GST) has streamlined India's tax structure, creating a need for compliance with GST regulations. The post is a detailed analysis of GST filing charges, a penalty for late returns, and the benefits of GST return filing on time. Understanding these aspects would guarantee compliance while optimizing costs for businesses.
For your GST filing requirements, partner with us and avail discount on the charges.
Above Rs. 20,000 turnover : Charges just Rs. 500 on each return.
Below Rs. 20,000 turnover : Charges only Rs. 400 per return after discounting 20%.
Purchases : All goods and services purchased during the period.
Sales : Records of all sales made and the GST collected.
Output GST : Tax collected on sales.
Input Tax Credit : Credit available on GST paid during purchases.
GST filing charges in India are subject to variation depending on the nature of the business, turnover, and complexity of returns. Here's a breakdown.
General Filing Charges : The charges for every GST return are usually Rs. 1,000. But this may depend on the company's turnover.
Turnover Below Rs. 2,00,000 : Minimum charges begin at Rs. 5,000 per filing by Chartered Accountants (CAs).
Turnover above Rs. 20,000 : Filing charges are Rs 1,000 per return, which is reduced to Rs 500 after discounts.
Turnover below Rs 2,00,000 : With a 20% discount, filing charges reduce to Rs 400 per return.
If you need our help or want to engage us for GST filing, call us now to avail an exclusive discount!
Interest is levied in these cases
GST Late Payment Charges : 18% interest for delayed liabilities.
Claim of Excess Input Tax Credits : 24% interest for claiming inadmissible credits.
Lower Tax Liability Declaration : 24% interest for lesser tax.
GST Invoice Format
Requirements for invoice templates in GST.
GST Billing Benefits
Advantages & benefits of the new tax system.
Requirements for composition scheme documents.
GST features in online billing software.
| Return Form | Frequency | Purpose |
|---|---|---|
| GSTR-1 | Monthly/Quarterly | Outward supplies of goods and services (sales). |
| GSTR-3B | Monthly/Quarterly | Summary return for reporting GST liabilities. |
| GSTR-4 | Annually | Return for composition scheme taxpayers. |
| GSTR-9 | Annually | Annual return for regular taxpayers. |
Timely GST return filing is important to avoid penalties and interest. Here's what happens if you delay.
18% interest is charged on unpaid tax.
GSTR-9 late fee is Rs. 200 per day (Rs. 100 CGST + Rs. 100 SGST).
| Return Form | Frequency | Purpose |
|---|---|---|
| GSTR-1 | Monthly/Quarterly | Outward supplies of goods and services (sales). |
| GSTR-3B | Monthly/Quarterly | Summary return for reporting GST liabilities. |
| GSTR-4 | Annually | Return for composition scheme taxpayers. |
| GSTR-9 | Annually | Annual return for regular taxpayers. |
Adhering to the GST compliance timelines saves companies from penalties and, in return, helps them build credibility with the authorities and smoothen their
financial operations. Contact us today to get efficient GST filing solutions!.
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Filing returns on time prevents unnecessary charges.
Timely compliance enhances your business's reputation.
Ensures uninterrupted credit claims.
Gives clarity on tax liabilities for proper planning.
Late fees are based on the type of return and turnover. Here are the maximum late fees
| Return Form | Turnover | Maximum Late Fee (CGST) | Maximum Late Fee (SGST) | Total Maximum Late Fee |
|---|---|---|---|---|
| GSTR-1, GSTR-3B | Nil Return | Rs. 250 | Rs. 250 | Rs. 500 |
| Up to Rs. 1.5 Crore | Rs. 1,000 | Rs. 1,000 | Rs. 2,000 | |
| Above Rs. 5 Crore | Rs. 5,000 | Rs. 5,000 | Rs. 10,000 |
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