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GST registration is essential for businesses in India. If your business revenue surpasses certain threshold levels or belongs to specific categories that require GST registration, it's imperative to register following the GST regulations. IndiaFilings can assist you in obtaining your GST registration seamlessly. Contact our experts today to streamline your GST registration process! Overview GST Registration online Since its introduction on 1 July 2017, the Goods & Services Tax (GST) has been mandatory for all service providers, traders, manufacturers, and even freelancers in India. The GST system was implemented to replace Central and state-level taxes such as Service Tax, Excise Duty, CST, Entertainment Tax, Luxury Tax, and VAT, making the tax process more streamlined. The GST registration charges vary depending on the type of business and turnover. For those taxpayers whose annual turnover is less than 1.5 crore, the GST framework provides an option for a composition scheme. This scheme allows them to undergo simplified GST procedures and pay taxes at a predetermined rate according to their turnover. The GST mechanism operates throughout various stages of the supply chain. This includes acquiring raw materials, production, wholesale, retail, and the eventual sale to the end consumer. Notably, GST is imposed at every one of these steps. For example, when a product is produced in West Bengal and then used in Uttar Pradesh, the GST revenue generated is allocated entirely to Uttar Pradesh, emphasizing the consumption-based nature of GST. Key Components of GST Registration The Goods and Services Tax (GST) in India is structured around three primary components: Central Goods and Services Tax (CGST): This tax is levied by the Central Government on the supply of goods and services within a particular state. CGST applies to transactions carried out entirely within the boundaries of one state. State Goods and Services Tax (SGST): SGST is charged by the State Government on the supply of goods and services within its jurisdiction. Similar to CGST, SGST is also limited to transactions happening within a specific state. Integrated Goods and Services Tax (IGST): This tax is imposed by the Central Government on the supply of goods and services that occur between different states or between a state and a Union Territory. IGST is relevant for transactions where goods or services cross state or Union Territory boundaries.

In India, Every Organizations registered under GST must file their GST returns with a frequency that aligns with their business operations - monthly, quarterly, or yearly. This requirement might seem daunting, but with the online assistance of GST professionals from IndiaFilings, navigating through the necessary processes can be straightforward. Taxpayers must adhere to the designated deadlines for their GST submissions, as these returns are crucial for the Indian government to ascertain the nation's tax obligations. Streamline your GST Return filing process and maintain compliance effortlessly with IndiaFilings. Benefit from the convenience of LEDGERS GST platform, where you can access your business financials in real-time from any location. Plus, LEDGERS integrates smoothly with the apps you already use, ensuring a seamless workflow. What is GST Return? A GST Return is a detailed statement that captures all the financial transactions of a person registered under GST, reflecting revenues and expenditures. It is a mandatory submission for every holder of GSTIN to the tax authorities, allowing them to determine the net tax liability with precision. The GST return filing encompasses several critical elements: Purchases: It records in detail the purchases the taxpayer has made. Sales: It provides a comprehensive log of the taxpayer's sales activities. Output GST (On Sales): It notes the GST charged on the taxpayer's sales. Input Tax Credit (GST Paid on Purchases): It lists the GST paid on purchases, which is eligible to be deducted from the GST owed on sales. For those seeking guidance on GST return filing or support with managing their GST compliance, IndiaFilings offers GST software designed to streamline the process. Who Should File GST Returns? GST returns must be filed by any business or individual registered under the GST regime. This obligation applies to entities whose annual aggregate turnover surpasses the specified threshold, which is set by the tax authorities and may differ for various classifications of taxpayers, such as standard taxpayers and those opting for the composition scheme. How Many Returns are there under GST? Within the Goods and Services Tax (GST) system, 13 returns cater to different facets of a taxpayer's financial dealings. It's important to recognize that not all taxpayers must file every type of return; the specific returns that need to be filed depend on the taxpayer's category and the particulars of their GST registration. Below is a snapshot of the 13 GST returns: GSTR-1: Filed for disclosing details of outward supplies, essentially the sales. GSTR-3B: A summarised return that outlines both sales and purchases, inclusive of tax payments. GSTR-4: Applicable to those under the Composition Scheme, summarizing turnover and corresponding tax. GSTR-5: For non-resident taxpayers conducting taxable transactions in India. GSTR-5A: For providers of online information and database access or retrieval services. GSTR-6: Used by Input Service Distributors for detailing input tax credit distribution. GSTR-7: For entities required to deduct TDS under GST. GSTR-8: To be filed by e-commerce operators reporting transactions on their platform. GSTR-9: An annual comprehensive return summarizing all periodical filings over the fiscal year. GSTR-10: The final return upon cancellation or surrender of GST registration. GSTR-11: For those with a Unique Identity Number, claiming refunds on their purchases. CMP-08: A quarterly statement for Composition Scheme taxpayers detailing tax liability. ITC-04: For manufacturers to declare details about goods dispatched to and received from a job worker.

Are you an exporter looking to simplify your business operations? The GST LUT Form is an essential document that enables you to seamlessly conduct your export transactions without paying Integrated Goods and Services Tax (IGST) at the time of supply. IndiaFilings is here to assist you in efficiently completing the GST LUT Form filing process, making your export journey smoother than ever. Understanding LUT in GST LUT full form is Letter of Undertaking holds significant relevance within the context of the Goods and Services Tax (GST) framework. This document serves as a powerful tool for exporters, allowing them to engage in the export of goods or services without the obligation of immediate tax payment. GST LUT Form for Exporters For all registered taxpayers engaged in the export of goods or services, it is mandatory to provide a Letter of Undertaking (LUT) using the Form GST RFD-11 form on the GST portal. This obligation is essential to facilitate exports without paying Integrated Goods and Services Tax (IGST). Eligibility Criteria for LUT registration The Eligibility criteria to obtain a LUT certificate include the following: The Letter of Undertaking (LUT) is open for utilization by any registered taxpayer engaged in exporting goods and services. However, individuals facing prosecution for tax evasion exceeding Rs. 250 lakh or more are ineligible to benefit from this option. Intent to Supply: The applicant should intend to supply goods or services within India, to foreign countries, or to Special Economic Zones (SEZs). GST Registration: The entity seeking to avail the benefits of an LUT should be registered under the GST framework. Tax-Free Supply: The desire to supply goods without the imposition of integrated tax is an essential requirement for LUT application. Exploring the LUT Bond LUT in GST holds a validity of one year, necessitating the submission of a fresh LUT for each subsequent financial year. Should the terms outlined in the LUT fail to be met within the designated timeframe; the privileges associated with it will be withdrawn, prompting the need for the exporter to provide bonds. For other assessments, bonds are required when conducting exports without Integrated Goods and Services Tax (IGST) payment. LUTs and bonds are applicable in the following cases: Zero-rated supply to SEZ: Exporting to Special Economic Zones (SEZs) without IGST payment. Goods Export: Exporting goods to a country beyond India without IGST payment. Service Export: Providing services to clients in foreign countries without IGST payment. Documents required for GST LUT registration To apply for a Letter of Undertaking (LUT) under GST, you'll need the following documents: LUT Cover Letter: A request letter signed by an authorized person. Eligibility: Ensure you meet eligibility criteria (no serious tax evasion cases). Copy of GST Registration: Proof of your GST registration. PAN Card of Entity: Identification using PAN card. KYC of Authorized Person: ID and address proof of authorized person. GST RFD 11 Form: Application form for LUT. Copy of IEC Code: If involved in exports. Canceled Cheque: From your associated bank account. Authorized Letter: Granting power to the authorized signatory.

GST registration can be canceled voluntarily if the business is dormant or does not have the necessary business turnover. Further, a GST registration can also be cancelled by a GST officer if the business is non-compliant under GST. Once GST registration is cancelled, the person or entity is no longer required to file GST returns and is not required to pay or collect GST. At IndiaFilings, we are committed to providing a seamless and hassle-free GST cancellation service. Our team of experienced professionals understands the complexities involved and is equipped to guide you every step of the way. From understanding the prerequisites on how to cancel GST registration to ensuring timely submissions and compliance, you can rely on us to make the journey smooth and uncomplicated. GST Registration Cancellation When GST registration is cancelled, the person or entity is no longer identified as a GST-registered taxpayer. This termination implies that they aren't required to gather, submit, or pay GST. Moreover, they can't claim input tax credits, and the responsibility of filing GST returns is also lifted from them. The Importance of Timely GST Cancellation If no business activity occurs after acquiring GST registration, the taxpayer must begin the GST cancellation process as outlined. If a taxpayer stops filing GST returns and allows his GST registration to lapse, he cannot apply for fresh GST registration using the same PAN. Further, if the government cancels a GST registration, the taxable person must first apply for the cancellation to be revoked by paying any late fees. Following the restoration, appropriately cancel the GST or continue filing GST returns. As a result, once a GST registration is received, the taxpayer must keep track of compliance. Hence, if there is no commercial activity, apply for GST registration cancellation as soon as possible. Criteria for GST Cancellation: Who Can Apply? The following types persons can apply for GST Cancellation: By the Taxpayer: Taxpayers who possess a GST registration can voluntarily kickstart the cancellation procedure. This might be because they deem the registration unnecessary or because they fulfill specific cancellation criteria. By Tax Authorities: If tax officials find any non-compliance with the rules or inconsistencies in a taxpayer's activities or records, they have the right to cancel the GST registration. To initiate this, they can release a show-cause notice through the GST REG-17 form. By Legal Successors: In circumstances where a taxpayer passes away, the legal successors or heirs can put forward a request to annul the deceased's GST registration. Voluntary GST Cancellation If a person or entity with GST registration wishes to cancel their GST registration, a cancellation request must be submitted to the GST Department in Form GST REG-16. After reviewing the application, if the GST Officer is satisfied, he or she will issue an order to terminate GST registration in Form GST REG-19. Voluntarily canceling a GST registration can save the business owner from the unnecessary hassles of filing GST returns each month and payment of penalty or late-filing fee. Cancellation by GST Officer An officer can initiate the cancellation of a GST registration under GST if the Officer has justification to cancel the GST registration. The proceedings for GST Cancellation by Officer will begin by issuing a show-cause notice in Form GST REG-17. In case of cancellation by the GST Officer, the Officer would notify the taxpayer whose GST registration is liable to be terminated before cancellation. The taxpayer would then be given a reasonable opportunity to be heard before their GST registration is cancelled. The notice to the taxpayer from GST Officer would be sent in Form GST REG-17 with specific reasons why the GST registration should be cancelled. The notice would also allow the taxpayer to respond to the notice and have a date and time if a hearing is scheduled. If the taxpayer responds to the notice and the proper authority is satisfied with the response, he or she may dismiss the case and issue an order in Form GST REG-20. If he is not satisfied, he may issue a Form GST REG-19 order cancelling the GST registration.

GSTR-9 is an essential annual filing obligation for all taxpayers registered under the Goods and Services Tax (GST) system. GSTR-9 encapsulates comprehensive information concerning outward and inward supplies, encompassing transactions made or received during the relevant financial year. This includes supplies governed by Central GST (CGST), State GST (SGST), and Integrated GST (IGST) regulations. The return is a consolidated record of all monthly or quarterly returns submitted within the corresponding year. At IndiaFilings, we specialize in simplifying the process of GSTR-9 form filing. Recognizing that dealing with taxes can often be confusing, we aim to streamline the procedure and guide you through each step. Leveraging our expertise and user-friendly approach, you can confidently handle your GSTR-9 filings with accuracy. Make IndiaFilings your partner in GSTR-9 filings. Get started today and experience a stress-free way to fulfill your tax responsibilities. Introduction to Form GSTR-9 GSTR-9 is a yearly report that registered taxpayers need to submit. This report contains everything they bought and sold throughout the year, including different taxes (like CGST, SGST, and IGST). It also covers their total sales and purchases and audit details for the year. In short, GSTR-9 summarizes a whole year's business transactions and tax details. The GST annual return limit for businesses is Rs. 2 crore, but filing is optional for those with a turnover up to Rs. 2 crore. GST Annual Return Filing - Applicability The requirement to file Form GSTR-9 extends to various categories of taxpayers based on their registration status, GST annual return limit, and activities during the financial year. The following entities are obligated to submit this annual return: Normal Taxpayers: Individuals or entities registered as regular taxpayers fall under the purview of Form GSTR-9 filing. This encompasses businesses operating under standard tax provisions. SEZ Units and SEZ Developers: Special Economic Zone (SEZ) units and SEZ developers must also submit Form GSTR-9. This ensures comprehensive reporting of their financial activities within the fiscal year. Transition from Composition Scheme: Taxpayers who have transitioned from the composition scheme to normal taxpayer status during the financial year are mandated to file Form GSTR-9. This captures their shift from a simplified tax regime to a regular tax framework. Exclusions from Form GSTR-9 Filing Composition Taxpayers: Taxpayers operating under the composition scheme have a distinct annual return form, i.e., Form GSTR-9A, designed to cater to their specific requirements. As such, they are not required to file Form GSTR-9. Casual Taxpayers: Those taxpayers who engage in sporadic or occasional business activities, everyday taxpayers, are exempt from filing the Annual Return in Form GSTR-9. Non-Resident Taxpayers: Taxpayers who are not residents of the country and engage in taxable transactions within India, non-resident taxpayers, are not obligated to file Form GSTR-9. Input Service Distributors (ISD) and OIDAR Service Providers: Entities functioning as Input Service Distributors or providing Online Information and Database Access or Retrieval services are also excluded from the requirement to file Form GSTR-9.

LEDGERS accounting software is designed to help businesses easily maintain their accounts, GST compliance, TDS compliance, payroll and income tax filing. Accounting using LEDGERS software is simple and intuitive - no prior accounting knowledge or experience is required. LEDGERS is available as a webapp and on Google Playstore. LEDGERS accounting software is integrated with the GSTN, TRACES Portal, Banks and various other platforms in India to help businesses maintain error-free compliances and avoid penalties. LEDGERS is built on the AWS Platform and conforms to the best practices for data privacy, security and backup. With LEDGERS accounting software being a paid product, the user/customer has complete confidentiality, privacy and control over the data inside their LEDGERS. GST Invoicing & Billing LEDGERS accounting software can help you quickly generate GST invoices or bills without GST from your mobile phone or computer. With inbuilt catalog and contacts, this LEDGERS software can create error-free invoices in seconds with the correct GST rate and GST computation. The platform supports billing in multiple-currencies from multiple-branches and multiple-users simultaneously. Invoices and bills created on LEDGERS can be quickly shared with customers through SMS, Whatsapp, email and other modes. Receipts & Payment Gateway Integration Issue receipts to your customers and reconcile multiple payments against invoices. LEDGERS accounting software can also be quickly integrated with any type of payment gateway to automate invoicing and receipt generation. LEDGERS works with CCAvenue, RazorPay, EBS and ICICI Bank payment gateways. Need a payment gateway with very low TDR rates and next day settlement of funds? We can help you easily obtain a payment gateway. Accounts Statement Generate and share accounts statements with your clients instantly. View customer-wise accounts receivables, overdue invoices and send payment reminders with payment links. Create supplier accounts statements with details of all purchases, payments made and payables. Easily track input tax credit receivable from vendors and send reminders for input tax credit not received.