GST has replaced most of the Central and State level indirect taxes like VAT, Service tax, Excise duty etc. from 1st July, 2017. Make sure your business is GST compliant and file your periodic returns under ICI expert’s guidance.
Be GST Compliant today!
GST Registration is mandatory for all dealers or entities having turnover above a specified threshold limit or fulfilling any of the specified conditions. You can now get your business registered under GST easily through our complete online and simplified process.
All your sales, purchases, credit note and debit note for a particular month has to be summarised in a simplified yet detailed form on the GST portal on or before the due date prescribed by law.
GST is expected to have far-reaching impact on each and every aspect of business operations in the country such as pricing of goods and services, accounting, supply chain, receivables & payables and tax compliances such as tax incidence, tax computation and payment, credit utilisation and reporting, leading to a complete overhaul of the current indirect tax system.
A person registered under GST is not allowed to make movement of goods in a vehicle whose value exceeds Rs. 50,000 unless he generates an e-way bill through https://ewaybill.nic.in/.
However, the limit of Rs. 50,000 may differ between different states according to state specific GST laws. (Eg. In Maharashtra, for intra-state supply of goods if the consignment value does not exceeds Rs. 1 lakh, no E-way bill is required to be generated. Also if the goods such as hank, yarn, fabric and garments of any consignment value are transported for a distance upto fifty kms within the state of Maharashtra for the purpose of job work , E-way bill is not required to be generated )
If a person registered under the normal scheme (monthly filers) then has to file 2 returns per month, GSTR-1 and GSTR-3B, and an annual return. In total,25 GST returns every year.
For a person registered under the composition scheme, it is required to file only 6 returns for the entire year.