GST Annual Return

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GST Annual Return

GST Annual Return

Simplify the process of your GST Annual Return filing in Patna with our expert team, providing stress-free, transparent, and professional assistance.

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Documents Required

  1. Invoices of sales and purchases made during the financial year
  2. Details of outward and inward supplies
  3. Tax paid and Input Tax Credit (ITC) availed
  4. Form GSTR-1, GSTR-3B, and GSTR-9 for filing
  5. Bank statements for reconciliation

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What is the GST Annual Return?

GST Annual Return is a comprehensive statement that taxpayers registered under the Goods and Services Tax (GST) must file annually. It includes details of outward and inward supplies made during the financial year, ITC claimed, and tax paid. Filing this return ensures compliance with GST regulations and helps in reconciling transactions reported during the year.

Benefits of GST Annual Return

  • Compliance with GST Law: Ensures businesses meet statutory requirements.
  • Reconciliation of Accounts: Facilitates easy reconciliation of ITC and taxes paid.
  • Avoidance of Penalties: Timely filing helps avoid heavy penalties for non-compliance.
  • Clear Financial Overview: Provides a clear snapshot of the business’s financial transactions.
  • Ease in Audits: Simplifies GST audits for larger businesses.
  • Claiming Input Tax Credit (ITC): Accurate filings ensure proper ITC claims.

Eligibility Criteria for GST Annual Return

  1. All taxpayers registered under GST in India must file the GST Annual Return Filing in Patna, except:
    • Casual taxable persons
    • Input Service Distributors (ISD)
    • Non-resident taxable persons
    • Persons liable to deduct tax at source (TDS)

Registration Process

  1. Gather Documents: Collect necessary details like sales, purchases, and ITC.
  2. Log in to the GST Portal: Use your GST credentials to access the GST portal.
  3. Form Selection: Choose Form GSTR-9 for GST Annual Return.
  4. Complete the Filing: Enter relevant details and submit the form.
  5. Submit & Download: Complete the filing and download the acknowledgement for records.

Why Choose Tax Protect?

We provide professional assistance for GST Annual Return Filing in Patna. Avoid errors and ensure correct reconciliation of ITC and tax. We ensure that your GST returns are filed well before the deadlines. Competitive rates for businesses in Bihar. Custom support for traders and businesses. We help make necessary amendments in returns. From filing to audits, we have got you covered.

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Frequently Asked Questions

The due date for filing the GST Annual Return for FY 2023-24 is usually 31st December, but we recommend filing it early to avoid last-minute rush and penalties.

Yes, you can, but late filing attracts penalties. Tax Protect ensures timely filing to avoid penalties for late filing of GST Annual Returns in Bihar.

No, amendments cannot be made after filing, but we can assist you with any necessary corrections during the reconciliation process to avoid errors.

Yes, every registered taxpayer, except ISD, TDS, and casual/non-resident taxpayers, is required to file GST Annual Return Filing in Patna.

Failing to apply for revocation may result in the loss of input tax credits and heavy penalties. Let us assist you in avoiding such consequences.

Key documents include purchase and sales invoices, GSTR-1, GSTR-3B, ITC records, and bank statements for accurate filing.

Yes, GST Annual Return Filing in Patna includes reconciling ITC to ensure compliance with GST regulations.

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