GST
GST registration, regular return filing, the annual return and GST audits.
Registration
Registering a business under GST, and keeping the registration up to date when the business changes.
What it covers
- New registration
- Changes to an existing registration
- Cancellation
Who needs it
- Businesses selling goods with turnover above ₹40 lakh a year (₹20 lakh in some states)
- Service providers with turnover above ₹20 lakh a year (₹10 lakh in some states)
- Anyone making inter-state sales of goods, whatever the turnover
What to keep ready
- PAN of the business
- Proof of the business address
- Bank account details
- PAN, Aadhaar and photos of the owners, partners or directors
Returns
Regular returns such as GSTR-1 (outward supplies) and GSTR-3B (the summary return with tax payment). These are filed monthly or, for taxpayers with turnover up to ₹5 crore who choose it, quarterly under the QRMP scheme.
What it covers
- GSTR-1 and GSTR-3B
- Quarterly filing under QRMP
- Composition scheme returns
- Input tax credit reconciliation
Who needs it
- Every registered business
What to keep ready
- Sales and purchase invoices for the period
- E-way bills, if any
Annual return and GST audit
The annual return (GSTR-9), the reconciliation statement (GSTR-9C) and GST audits. GSTR-9C is needed when turnover is above ₹5 crore.
What it covers
- GSTR-9
- GSTR-9C
- GST audits
Who needs it
- Registered businesses filing the annual return
- Businesses with turnover above ₹5 crore (reconciliation statement)
What to keep ready
- Audited accounts for the year
- All GST returns filed during the year