GST Compliance
There are many returns under GST which a taxpayer has to file with the GSTIN, our team of GST Practitioners, chartered accountants and tax advocates are available to assist you with the filing of the GST return accurately and always on time.
GST was implemented in India with effect from 1st July 2017. More than 1.2 crore taxpayers have registered with the GSTIN and all of them are liable to file various GST Returns on its due dates. Even an inactive business that has obtained registration with GST need to file the required return of the GST. We offer a free consultation to the startups to understand the GST Compliance, which at times seems cumbersome. With the use of cloud-based accounting software like Zoho Books the filing of the GST Return can be automated and can be seamlessly integrated with the GSTIN
GST Compliance Inquiry Form
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1. Accounts and Other Records
Every registered person is required to keep and maintain all records at his principal place of business.
Who must maintain accounts under GST?
It is the responsibility of the following persons to maintain specified records-
- The owner/Businessman/Trader/Service Provider
- Operator of warehouse or godown or any other place used for storage of goods
- Every transporter
Every registered person whose turnover during a financial year exceeds the prescribed limit (2 crore) will get his accounts audited by a chartered accountant or a cost accountant.
What records must be maintained under GST?
Every registered person must maintain records of:
- Production or manufacture of goods
- Inward and outward supply of goods or services or both
- Stock of goods
- Input tax credit availed
- Output tax payable and paid and
- Other particulars as may be prescribed
Under GST, a trader has to maintain the following a/cs (apart from accounts like purchase, sales, stock) –
- Input CGST a/c
- Output CGST a/c
- Input SGST a/c
- Output SGST a/c
- Input IGST a/c
- Output IGST a/c
- Electronic Cash Ledger (to be maintained on Government GST portal to pay GST)
2. Accounting entries under GST
In spite of initial transition challenges, GST will bring in clarity in many areas of business including accounting and bookkeeping.
While the number of accounts is more apparently under GST, once you go through the accounting entries you will find it is much easier for record keeping. One of the biggest advantages a trader will have is that he can set off his input tax on service with his output tax on the sale.
3. Electronic Cash and Credit Ledger
Every registered taxpayer will have 3 ledgers under GST which will be generated automatically at the time of registration and will be maintained electronically.
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- Electronic Cash Ledger- This ledger will serve as an electronic wallet. The taxpayer will have to deposit money into his cash ledger (add money to the wallet). The money will be utilized to make the payment.
- Electronic Credit Ledger- The input tax credit on purchases will be reflected here under three categories i.e IGST, CGST & SGST. The taxpayer will be able to utilize the balance shown in this account only for payment of tax (not for interest, penalty etc.)
- E-Liability Ledger: This ledger will show the total tax liability of a taxpayer after netting off for the particular month. This ledger will be auto-populated.
4. Period for Retention of Accounts under GST
As per the GST Act, every registered taxable person must maintain the accounts books and records for at least 72 months (6 years). The period will be counted from the last date of filing of Annual Return for that year.
The last date of filing the Annual return is 31st December of the following year.
For example:
For the year 2017-2018, the due date of filing the annual return is 31.12.2018. The books & records of 2017-2018 must be maintained for 6 years, i.e., 31.12.2023
If the taxpayer is a part of any proceedings before any authority (First Appellate) or is under investigation then he must maintain the books for 1 year after the order of such proceedings/appeal has been passed.
5. Consequences of Not Maintaining Proper Records
If the taxpayer fails to maintain proper records in respect of goods/services, then the proper officer shall treat such unaccounted goods/services as if the taxpayer had supplied them. The officer will determine the tax liability on such unaccounted goods.
The taxable person will be required to pay the tax liability calculated along with penalty.
Type of GST Filling of Company
- GSTR-1 – Quarterly GST Return if the turnover is less than 1.5 Crores
- GSTR-1 – Monthly GST Return if the turnover is more than 1.5 Crores
- GSTR-2 – Filing currently suspended
- GSTR-3 – Filing currently suspended
- GSTR-3B – Monthly for all category of taxpayer
- GSTR-4 – Quarterly return for composition scheme
- GSTR-5 – For Non-resident
- GSTR-5A – Non-resident providing OIDAR
- GSTR-6 – Monthly Return for Input service distributors
- GSTR-7 – Monthly – TDS Return under GST
- GSTR-8 – Monthly Return for E-commerce Operator
- GSTR-9 – Annual Return of GST
Documents Required For GST Compliance
- Duplicate Copy of Sales Invoices issued during the month
- Duplicate copy of Purchase Invoices received during the month
- Details of Reverse Charge Liability
- Duplicate copy of Debit/Credit Note issued during the month
- HSN wise summary of all goods sold during the month
- Copy of Shipping Bill in case of export of Goods
GST Compliance charges
We provide expert services of payroll processing which includes timely collection of attendance data from client and then prepare monthly payroll data of employees. We also helps our clients in ESI and EPF compliance. Different types of services provided in payroll processing
Provide Monthly salary slip to employees
Computation of Income as per IT Act and providing TDS Certificate
Leave Management
ESIC and EPF compliance
Calculation of BONUS
Collection and maintain the record of Employee Saving documents
Time and attendance
We charge very nominal and transparent charges for payroll services. No hidden charges
| No . of Employees | Includes type of services | Fees per month
(Basic amount does not include GST) |
| 0-20 | Monthly salary slip, Computation as per IT Act ,TDS Certificate, Leave Management, ESIC and EPF compliance, Collection and maintain of savings documents, Time and attendance | 5,000/ |
| 21-50 | Monthly salary slip, Computation as per IT Act ,TDS Certificate, Leave Management, ESIC and EPF compliance, Collection and maintain of savings documents, Time and attendance | 10,000/- |
We will charge @ Rs 150 for every employee above 50 employees .
GST Compliance charges:-
We have transparent and nominal structure of GST Compliance charges:-
GST registration charges 1,999/-
| No. of Invoices (Sales, purchase & expenses) | Includes Activities | Monthly charges |
| Nil invoices | GSTR-3B and GSTR-1, Reconcilation of Input Tax credit | 499 |
| 0-50 | GSTR-3B and GSTR-1 (Monthly), Reconcilation of Input Tax credit | 1,999 |
| 0-50 | GSTR-3B and GSTR-1(Quaterly), Reconcilation of Input Tax credit | 1,499 |
| 51-100 | GSTR-3B and GSTR-1 (Monthly), Reconcilation of Input Tax credit | 2,499 |
| 51-100 | GSTR-3B and GSTR-1(Quaterly), Reconcilation of Input Tax credit | 1,999 |
| 101-150 | GSTR-3B and GSTR-1 (Monthly), Reconcilation of Input Tax credit | 2,999 |
| 101-150 | GSTR-3B and GSTR-1 (Quaterly), Reconcilation of Input Tax credit | 2,499 |
| 151-200 | GSTR-3B and GSTR-1 (Monthly), Reconcilation of Input Tax credit | 3,499 |
| 151-200 | GSTR-3B and GSTR-1 (Quaterly), Reconcilation of Input Tax credit | 2,999 |
| 201-250 | GSTR-3B and GSTR-1(Monthly), Reconcilation of Input Tax credit | 3,999 |
| 201-250 | GSTR-3B and GSTR-1 (Quaterly), Reconcilation of Input Tax credit | 3,499 |
| 251-300 | GSTR-3B and GSTR-1 (Monthly), Reconcilation of Input Tax credit | 4,499 |
| 251-300 | GSTR-3B and GSTR-1 (Quaterly), Reconcilation of Input Tax credit | 3,999 |
| 301-350 | GSTR-3B and GSTR-1 (Monthly), Reconcilation of Input Tax credit | 4,999 |
| 301-350 | GSTR-3B and GSTR-1 (Quaterly), Reconcilation of Input Tax credit | 4,499 |
We charges Rs 1,000 extra for every additional 150 invoices (after 350 invoices).
GST Charges for Composition Dealer
We charge Rs 999 for first 50 invoices and then Rs 499 for next 50 invoices.
Income Tax and TDS returns:-
| Nature of Return | Charges |
| Income Tax Return for salaried employees | 499/- |
| Income Tax Return for salaried employess having other income also | 999/- |
| Business Income ITR | 1,499 to 2,499/- |
| Preparation and filling of TDS Returns 24Q,26Q,27Q,27EQ | 999/- per return |
| Drafting of reply of income tax notice | Depends on case |
| Handling assessments of Income Tax and GST | Depends on case |