Brief about service
When you have a GST registered business, it becomes compulsory for you to file GST returns on monthly/quarterly basis as applicable. Furnishing returns timely helps the authorities in carrying out taxpayer’s assessment. The GST return contains all the details pertaining to sales, purchases, tax collected on sales and tax paid on purchases that needs to be filed compulsorily by all registered taxpayers whether it be small or large.
Each GST return has been effectively designed to ensure a complete disclosure of information & transactions made between buyers and sellers during the period under consideration in front of authorities. Once you file the return, your tax liability will be calculated and you have to pay the amount that you owe the government.
At TaxWisey, we offer more transparency due to our tech-support availability. From registration to return filing, our experts can get everything done in a speedy and more hassle-free way. We take complete care of all your GST compliances and ensure that the returns are filed in a standardized format within the time limit so that you can focus on blooming your business.
Impact of Non/Late Filing
Being GST compliant is very crucial for every business. You will be liable to pay interest and a late fee if your GST return is not filed within the due date. As per the GST Law, the late fee is Rs.20-50/ day for CGST and SGST which can go maximum upto Rs.500-1000. This is however subject to changes as notified by the government. An offender who is not paying taxes or is making short payments can also be made liable to pay a penalty of 10% of the amount of tax due subject to a minimum of Rs.10,000.
Ignoring timely filing of GST returns may lead to arising unnecessary consequences and denying of certain facilities. For instance, rule 59(6) notifies that the GSTR-1 return filing facility will be blocked for taxpayers who have not filed GSTR-3B for the previous two return periods.
Further, If a person has not furnished the returns for a consecutive period of two tax periods , then the generation of E-Way Bill will be restricted for all types of outward supply of that individual/entity which can only be generated after successful filing of GST. In a few cases, GST registration can also be canceled by the authorities. Hence, it becomes crucial to every registered entity to adhere to the statutory compliance and complete all the necessary filings within the stipulated time-period.
Types Of GST Returns
There are separate GST returns required to be filed in various cases depending on your nature of work or registration type which are discussed below -
|
Form |
Who should file? |
Frequency |
|
GSTR-1 |
Every registered Individual or entity |
Monthly, or Quarterly (If opted under the QRMP scheme) |
|
GSTR-2A |
View-only Autofill form |
Monthly |
|
GSTR 2B |
View-only |
|
|
GSTR 3B |
Regular taxpayer |
Monthly, or Quarterly (If opted under the QRMP scheme) |
|
GSTR- 4 |
Composition dealer who has opted composition scheme |
Annually |
|
GSTR-5 |
Non-resident foreigners who have businesses in India |
Annually |
|
GSTR-5A |
Non-resident OIDAR service providers |
Annually |
|
GSTR-6 |
Input Service Distributor (ISD) |
Annually |
|
GSTR-7 |
Individuals who need to deduct TDS under GST |
Annually |
|
GSTR-8 |
E-commerce operators |
Annually |
|
GSTR-9 |
Every registered taxpayer |
Annually |
|
GSTR 9C |
Every registered taxpayer |
Annually |
|
GSTR-10 |
People whose registration has been canceled or surrendered |
Once, when GST registration is canceled or surrendered. |
|
GSTR-11 |
By foreign diplomatic missions and embassies for refund claim |
Monthly |
Advantages of service
Ease & flexibility
Filing GST Return is an online process to keep financial transactions accountable and provides the benefit of the ease of access and flexibility.
Simple Procedure
The process of filing a GST return is online. At TaxWisey, you only require a list of receipts, invoices, and bills to be kept handy and the remaining tasks will be taken up by our in-house experts.
Avoids Unnecessary fines & penalties
Timely filing your GST return guards you from facing unnecessary consequences like interest, monetary penalties, recovery, suspension of GSTIN and other strict provisions.
Organized Procedure
GST has brought in accountability and regulation to various industries through making its return filing procedure smooth and organized.
Enhances taxpayers’ credibility
Timely and proper filing of GST return benefits taxpayers at the time of seeking loans from a bank or financial institution. Taxpayer’s credibility is evaluated based on his GST returns filing record.
Subsuming of Taxes
GST being a unified and singular tax regime has lessened the number of filings hence making it less hassle for small entities to fear of maintaining compliance contrary to pre-GST time where businesses had to file multiple returns accorded with different indirect taxes.
Ease & flexibility
Filing GST Return is an online process to keep financial transactions accountable and provides the benefit of the ease of access and flexibility.
Simple Procedure
The process of filing a GST return is online. At TaxWisey, you only require a list of receipts, invoices, and bills to be kept handy and the remaining tasks will be taken up by our in-house experts.
Avoids Unnecessary fines & penalties
Timely filing your GST return guards you from facing unnecessary consequences like interest, monetary penalties, recovery, suspension of GSTIN and other strict provisions.
Organized Procedure
GST has brought in accountability and regulation to various industries through making its return filing procedure smooth and organized.
Enhances taxpayers’ credibility
Timely and proper filing of GST return benefits taxpayers at the time of seeking loans from a bank or financial institution. Taxpayer’s credibility is evaluated based on his GST returns filing record.
Subsuming of Taxes
GST being a unified and singular tax regime has lessened the number of filings hence making it less hassle for small entities to fear of maintaining compliance contrary to pre-GST time where businesses had to file multiple returns accorded with different indirect taxes.
Quickest way for GST Filing
Day 1
We will collect your Sale and Purchase data and start the working
Day 2
After working on the data we will call and inform you about the tax due if any and file your GST
Day 2
After working on the data we will call and inform you about the tax due if any and file your GST
Day 1
We will collect your Sale and Purchase data and start the working
Day 2
After working on the data we will call and inform you about the tax due if any and file your GST
Day 2
After working on the data we will call and inform you about the tax due if any and file your GST
How it works
Plans
Basic
- Upto 10 invoices (Sales )
- Turnover upto 50 Lacs
- Dedicated GST Expert
- GST Tax Payment Assistance
- Input Tax RECONCILIATION
- Regular Alerts on GST Filing due dates
- Support on GST Query
Premium
- Upto 20 invoices (Sales)
- Turnover upto 1 CR
- Dedicated GST Expert
- GST Tax Payment Assistance
- Input Tax RECONCILIATION
- Regular Alerts on GST Filing due dates
- Support on GST Query
Gold
- Upto 30 invoices (Sales)
- Turnover upto 1.5 CR
- Dedicated GST Expert
- GST Tax Payment Assistance
- Input Tax RECONCILIATION
- Regular Alerts on GST Filing due dates
- Support on GST Query
Testimonials
Check out some of our Client Reviews
All the services have been appreciated and very valuable indeed. TaxWisey has not only automated my day-to-day accounting task, but has also automated my ITR and GST filing at a very affordable price. Now I can freely concentrate on my business without worrying about compliance. This has given me a true peace of mind. Thank You TaxWisey
I have been availing TaxWisey’s ITR filing service for 2 years and till now it's been a marvelous experience. The firm is composed of highly professional, prompt, efficient and courteous people. I would definitely recommend everyone to go for their services. Keep up the great work!
Deeply appreciated the expertise offered by the professionals of TaxWisey. You guys are awesome. You not only helped me in present taxes but also kept me updated on tax changes and how to prepare myself for next year. I’m sure that the team will touch new heights in the upcoming future. Good Luck!
I sincerely thank TaxWisey for their valuable insights and customized handling of our tax compliances including matters relating to ITR and GST. They have great people, knowledgeable, caring with professionalism. I have my tax problems solved and now I don’t have to worry about the headache of maintaining compliances.
TaxWisey and its team are just fantastic. They are professional, organized and totally unflappable. They also keep us focused by regularly feeding new tax updates to date. We appreciate their advice and support and have found them to be very approachable, have in-depth knowledge of taxation and accounting, trustworthy and reliable, something which we truly value.
My relationship with TaxWisey began because I needed someone to assist me on my accounting needs, but it briskly expanded and has now advanced into something so valuable that I wouldn’t make a move without it. I would highly recommend TaxWisey. They make it all seem do-able, impeccable and hassle-free.
All your Questions answered in one place
Why choose us
End to End Solution
TaxWisey offers you end-to-end solution to all your tax and business compliance problems with the help of our in-house tax experts in an user-friendly, comfortable and secure environment so that you can take the utmost advantage of the same
Affordable Prices
Usually, “professional” is inferred as “costly,” but this is not not the case at TaxWisey! By Giving us an opportunity to serve, you would be considering it as an additional cost, but on the contrary we can actually save lots of money for our clients.
Quick Support
You can connect with our customer support team to get assistance and clear your tax and finance related queries. Drop us a call for FREE Consultation anytime.
Timely Returns
Our assets are our clients. Our talented, resourceful and spirited people are the very best technically in terms of competence, always with an eye towards service and timeliness. That is our guarantee.
Accuracy
Our services are tailored in line professional ethics and confidentiality to simplify finances, save money and time. Every piece of work is checked for completeness and accuracy. The data entered goes through a robust system of scrutiny designed by our experts.
Tax Filing Guidance
A highly automated and user-friendly interface to ease your tax return preparation and filing. Our experts ensure that you get the maximum possible tax refund and exemption and do not pay more than you owe.
No Hidden charge
The charges of our mentioned services shall be inclusive of all overhead costs and there are no other expenses or costs involved of any nature. We reassure you that we stick to the fees we quote and there are no hidden costs.
Privacy
Our platform has several security layers that keep your data safe & secure. We strictly adhere to legal guidelines of data security and make sure that is given top priority.
Money Back Guarantee
Our money back introductory scheme clearly indicates our unselfishness. We value our clients' satisfaction and hence, we offer further refunds if we are for some reasons, unable to cohere to the annual timetable as per commitment.
