GST Return Filing in Arunachal Pradesh
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GST Return Filing in Arunachal Pradesh
The Goods and Services Tax (GST) is a value-added tax levied on the supply of goods and services in Arunachal Pradesh. The GST was introduced in 2017 and is administered by the Central Board of Excise and Customs (CBEC). All businesses that are registered for GST must file a return.
There are three types of GST returns: the monthly return, the quarterly return, and the annual return. The monthly return must be filed by the 20th of the following month, while the quarterly return must be filed by the 25th of the following month. The annual return must be filed by December 31st.
Penalties for late filing of GST returns range from INR 10,000 to INR 100,000. Interest is also charged on late payments at 18% per annum.
Keep good records, understand the GST return form, and hire a professional tax consultant to ensure that you file your GST return in Arunachal Pradesh correctly and on time.
GST Return Filing in Arunachal Pradesh: An Overview
What is a GST return
A GST return is a document that taxpayers who are registered under the Goods and Services Tax (GST) are required to file with the government. The purpose of filing a GST return in Arunachal Pradesh is to declare the taxes that have been collected by the taxpayer on behalf of the government.Taxpayers are required to file a GST return in Arunachal Pradesh on a monthly or quarterly basis, depending on their turnover. Returns must be filed even if there is no tax liability for the period.
GST returns in Arunachal Pradesh must be filed electronically through the GST Portal. The portal provides different types of returns that taxpayers can file, depending on their business activities and turnover.
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Who has to file a GST return in Arunachal Pradesh
All businesses that are registered under the GST in Arunachal Pradesh are required to file a return, regardless of whether they have any tax liability for the period. This includes businesses with nil turnover for the period, as well as those that have availed themselves of Input Tax Credit (ITC).When is a GST return due
Returns must be filed on a monthly or quarterly basis, depending on the taxpayer’s turnover. For taxpayers with an annual turnover of up to Rs 1.5 crore, returns must be filed on a quarterly basis. For taxpayers with an annual turnover exceeding Rs 1.5 crore, returns must be filed on a monthly basis.Quarterly returns are due at the end of each quarter – i.e., 31st March, 30th June, 30th September and 31st December – while monthly returns are due at the end of each month.
In both cases, taxpayers must file their returns by the 20thof the following month/quarter in order to avoid late fees and penalties.
What are the penalties for late filing of a GST return
The penalties for late filing of GST returns in Arunachal Pradesh vary depending on the taxpayer’s turnover. For taxpayers with an annual turnover of up to Rs 1.5 crore, the penalty is Rs 100 per day, up to a maximum of Rs 5,000. For taxpayers with an annual turnover exceeding Rs 1.5 crore, the penalty is Rs 200 per day, up to a maximum of Rs 10,000.In both cases, the minimum penalty that can be levied is Rs 500.
taxpayers who fail to file their return for three consecutive tax periods will have their registration cancelled by the tax authorities.
How to register for GST in Arunachal Pradesh
Any business with a turnover of more than 20 lakhs has to compulsory register for GST. Businesses falling under the ambit of composition scheme or special category states have a threshold of 10 lakhs. The registration process is online and can be completed on the GST portal. The following documents are required for registration:1) PAN Card
2) Photograph
3) Cancelled Cheque
4) Address Proof- Bank Statement/ Rent Agreement/ Electricity Bill
After the registration is complete, the taxpayer will receive a 15-digit Goods and Services Tax Identification Number (GSTIN).
How to file a GST return in Arunachal Pradesh
Returns can be filed online through the GST portal using the taxpayer’s login credentials. A return filing comprises of six tables which must be filled in by the taxpayer:1) Table 1: Outward supplies details
2) Table 2: Inward supplies details attracting reverse charge
3) Table 3: Eligible Input Tax Credit
4) Table 4A: Value of exempt, nil-rated and non-GST inward supplies
5) Table 4B: ITC reversal
6) Table 5: Payment details
Once all the information has been entered into the respective tables, an electronic copy of the signed return must be uploaded onto the portal. After that, a preview of the return will be generated which is to be checked for any errors. If there are no errors, then the ‘Submit’ button can be clicked after which e-Way Bill number should appear on screen. This completes the return filing process.
Tips for Filing Your GST Return in Arunachal Pradesh
Keep good records
One of the most important things you can do to ensure a smooth and stress-free GST return filing process is to keep good records. This means having all your invoices and receipts organized and in one place. If you run a small business, it’s a good idea to invest in accounting software that can help you keep track of your expenses and income. This will make it much easier to generate accurate reports come tax time.Another crucial aspect of keeping good records is ensuring that all your invoices are correctly filled out. Make sure that each invoice includes the correct GST amount charged as well as the registration number of your business. This will make it easier for the authorities to verify your claims and process your return quickly.
Understand the GST return form
Before you start filling out your GST return form, take some time to understand what information is required. The last thing you want is to make a mistake that could result in a delay or even rejection of your return.The GST return form consists of two parts: Part A and Part B. Part A is for reporting your sales, while Part B is for claiming input tax credits (ITCs). You’ll need to fill out both parts of the form regardless of whether you’re making a refund claim or not.
Part A of the form requires you to provide details such as your name, address, GSTIN, total turnover for the period, total taxable turnover, and total tax payable. You’ll also need to specify whether any advances were made during the period and if so, how much was paid back against those advances.
In Part B, you’ll need to provide details about ITCs claimed during the period. This includes specifying the type of ITC (e., input tax credit on purchases or Works Contract Tax), total eligible ITC amount claimed, ineligible ITC amount claimed, amount reversed during the period, and net ITC available for set-off against liability.
If you’re unsure about any part of the GST return form, don’t hesitate to seek professional help from a qualified accountant or tax consultant who can guide you through the process step-by-step.
Hire a professional tax consultant
If you’re not confident about handling your GST return filing on your own, you can always hire a professional tax consultant to do it for you. This is especially advisable if you run a large or complex business with multiple transactions. A tax consultant can help make sure that your return is filed correctly and on time, and can also offer valuable advice on how to maximize your ITCs.When choosing a tax consultant, be sure to ask for referrals from friends or business associates who have used their services in the past. You can also check out online reviews to get an idea of what other businesses think of their experience with the consultant. Once you’ve narrowed down your choices, be sure to get quotes from each one so that you can compare rates before making a decision.
If you are registered for GST, you must file a GST return. This return must be filed even if you have nil tax liability for the period. The due date for filing GST return is the 20th of the month following the end of the quarter. For example, if your accounting period ends on 31 March, your GST return will be due on 20 April. If you fail to file your GST return on time, you will be liable to pay a late filing penalty of INR 100 per day.
There are three steps to filing your GST return: registration, filing and payment. To register for GST, you must have a valid PAN number and an email address. Once you are registered, you can file your GST return online using the government's e-filing portal or offline using a paper form. There are four types of GST returns: GSTR-1, GSTR-2A, GSTR-3B and GSTR-4.
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Documents Required For GST Return Filing in Arunachal Pradesh
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FAQ
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Under GST, each individual or element registered under GST would be expected to document a GST return for the endorsed period. Indeed, even those substances having a GST enrollment yet no action would be expected to record a GST Nil Return to remain consistent with GST guidelines.
Standard citizens would need to record GSTR-1 (subtleties of outward supplies), GSTR-2 (subtleties of internal provided) and GSTR-3 (month to month return). GSTR-1 would be expected on the tenth of every month, GSTR-2 would be expected on the fifteenth of every month and GSTR-3 would be expected on the twentieth of every month. Intensifying citizens should document GSTR-4 each quarter, on eighteenth of the month close to the quarter. Notwithstanding the month to month or quarterly returns, a yearly return should be recorded by all people or elements enrolled under GST. The due date for documenting of yearly GST return would be 31st of December following the finish of monetary year. If there should be an occurrence of surveys having to following reviewing prerequisites, the GST compromise explanation should be properly affirmed by a Chartered Accountant.
GST Returns should be documented on the web. There would likewise be an office to set up the profits disconnected and transfer something very similar into a web-based entrance.
All GST Return non-filers will be followed by the GST Department and a list of GST return defaulters will be given to the individual GST experts for follow-up and authorization activity. The GST regulation would likewise incorporate the burden of a programmed late charge for GST Return non-filers and late filers.
All GST Return non-filers will be followed by the GST Department and a list of GST return defaulters will be given to the individual GST experts for follow-up and authorization activity. The GST regulation would likewise incorporate the burden of a programmed late charge for GST Return non-filers and late filers.
GSTR1 return can be documented online in the GST entryway. You can likewise record GSTR1 return utilizing LEDGERS GST Software, to document GSTR1 return utilizing LEDGERS, make a record, update sale made during of month and tap on transfer GST return to document.
The due date for documenting GSTR1 return is generally the tenth of consistently. Be that as it may, for the long stretch of July 2017, the due date for documenting GSTR1 return is tenth of October. The due date for documenting any remaining GSTR1 return is yet to be reported by the GST Council.
In GSTR1 return, the accompanying data is documented by the citizen: Basic subtleties of the citizen with GSTIN. Period to which the Return relates. Receipt level data B2B solicitations B2C solicitations over Rs.2.5 lakhs in esteem B2C solicitations under Rs.2.5 lakhs in esteem Export solicitations Summary of Documents Issued HSN Code wise summry of deals.
Under GST, the expression "details of outward supplies" means data relating to deals exchanges in a month like invoice issued , debit notes, credit notes, and updated invoices.
If the exporter fails to give the LUT, he wants to pay the IGST or outfit an item bond.