Welcome to Filingpoint Best consultant for Retail Company Registration Expert +91 72999 72500 Filingpoint Retail Company Registration in Tiruppur is one of the best options for aspiring entrepreneurs looking to start a business in India. A retail business offers an array of profitable opportunities, including the potential to sell a wide variety of goods and services to a broad customer base. It's important to understand the legal requirements and business structure needed for a retail venture before getting started. The process of registering a business in Tirupur is typically completed within 14 working days, subject to the quick submission of all necessary paperwork and approval from regulatory officials. Once complete, the Registrar of Companies will issue the Certificate of Incorporation , showing the official creation of your business and giving it a unique company identity number. Incorporating a business in Tirupur can be an overwhelming process ...
GST Annual Return Filing Services in India
As per Section 44 of CGST Act every registered person, except an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person, has to furnish an annual return electronically in the prescribed form called as GSTR-9. It includes all transactions at the invoice level for the whole financial year. It is an electronic filing system based on the PAN of a GST-registered taxpayer and is accessed through an internet connection.
The due date for filing GSTR-9 is 31st December of the next fiscal year. In case a registered entity fails to file GSTR-9 by that date, it has to pay a late fee of INR 100 per day for each day that it is delayed till the last date for filing, which is a maximum of 0.25% of the turnover.
Filing of GSTR-9 is mandatory for all registered taxpayers, excluding small taxpayers with an annual turnover less than 2 crores (for whom filing of annual return has been exempted for FY 2021-22). However, this rule does not apply to SEZ units and SEZ developers or to any composition scheme taxpayer, which are exempt from this duty and are only required to file GSTR 9A.
This exercise also requires the reconciliation of data reported in the Sales/Supply Registers or the quarterly returns filed for that year with the audited annual financial statement duly attested by a CA. Hence, any difference between these two data should be reconciled before the filing of GSTR-9.
In case there are any liabilities arising from the audit and reconciliation exercise, it should be reflected in GSTR-9C and certified by a CA. If the liability is not reflected in GSTR-9C, then the same has to be recorded and certified by an Auditor in the same format as GSTR-9C and uploaded with the GSTR-9C.
As a part of the process, it is important to file the details of all transactions for that particular year, including those relating to intra-state, inter-state, e-commerce and exempted items. The information provided should include the total revenue generated by the taxpayer for the financial year, as well as the amount of GST paid or collected on each transaction during the period under review.
There is a lot of confusion among taxpayers regarding the annual return and its filing. As a result, many of them have not filed their annual return for the year 2017-18. The reason for this is the complexity of the tax laws and their inability to comply with the rules. Consequently, they are not able to file their annual return at the right time and are forced to go for extensions several times.
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