"Expert GST Return Filing Assistance with Tax2Save"
[Accurate compliance, on-time submission]
GST return filing can be a complex task for businesses, but with Tax2Save, it’s made simple. Our team of experts will assist you in the process, and ensure that your returns are accurate and compliant with the latest GST laws and regulations. We will collect the necessary information and documents through email, and provide you with important due dates, penalty and interest for late filing or non-filing, and the various types of returns available.
Important Due Dates & Type of Returns:
Tax2Save will keep you informed of all important GST return due dates, so you never miss a deadline and avoid any penalty or interest. We offers various types of GST returns filing, including GSTR-1, GSTR-2, GSTR-3, and more, to cater to the unique needs of your business. The due dates for the following mostly used GST return types are as follows:
- GSTR-1: This return is for reporting sales, and the due date is generally the 10th of the following month. For example, if you made sales in January, the due date for submitting GSTR-1 would be February 10th.
- GSTR-2: This return is for reporting purchases, and the due date is generally the 15th of the following month. For example, if you made purchases in January, the due date for submitting GSTR-2 would be February 15th.
- GSTR-3: This return is a summary of GSTR-1 and GSTR-2 and the due date is generally the 20th of the following month. For example, if you made sales and purchases in January, the due date for submitting GSTR-3 would be February 20th.
- GSTR-4: This return is for composition dealers and the due date is generally the 18th of the following month. For example, if the financial year is January to December the due date for submitting GSTR-4 would be 18th of April.
Penalties and Interest for GST Non-Compliance: What You Need to Know
Under GST, there are several penalties and interest provisions that may be imposed for non-compliance or late compliance with GST laws and regulations. Some of the key penalties and interest provisions include:
- Late fee for delayed filing of returns: If a taxpayer fails to file their GST returns within the due date, they may be required to pay a late fee. The late fee is calculated on a per-day basis, and the amount varies depending on the type of return being filed. For example, a late fee of Rs. 50 per day may be imposed for delayed filing of GSTR-1, while a late fee of Rs. 20 per day may be imposed for delayed filing of GSTR-3B.
- Penalty for non-filing of returns: If a taxpayer fails to file their GST returns for a continuous period of six months or more, they may be liable to pay a penalty. The penalty is calculated based on the taxpayers’ turnover and can range from Rs. 10,000 to Rs. 25,000.
- Interest on delayed payment of tax: If a taxpayer delays the payment of their GST liability, they may be liable to pay interest on the outstanding amount. The interest rate is 18% per annum.
- Penalty for non-compliance: If a taxpayer fails to comply with GST laws and regulations, they may be liable to pay a penalty. The penalty is calculated based on the nature and severity of the non-compliance, and can range from Rs. 10,000 to Rs. 25,000.
Prosecution: In serious cases of non-compliance or fraud, a taxpayer may be liable for prosecution under GST laws. This may result in imprisonment and/or fines.
Step-by-step process:
- Contact Tax2Save and share your GSTIN
- Share the necessary information and documents via email
- Our team will review and input the details for you
- Review and submit your GST returns
- Track the status of your GST return and download the acknowledgement.
With Tax2Save, you can focus on growing your business while we take care of the compliance. Contact us now to experience the ease and convenience of GST return filing with Tax2Save.