File GST Return Online in Telangana

All entities registered under GST are required to submit GST return filing in Telangana , irrespective of their business activity, GST rates or profitability.
This helps tax transparency and make sure that the company adheres to the national regulations. In most cases the returns are filed online before the GST deadlines. Usually on a monthly or quarterly basis, depending on the taxpayer's category.
In general businesses submit GSTR-1, GSTR-2, and GSTR-3 monthly. The GSTR-9 is an annual requirement. If the taxpayer is under the composition scheme then CMP-08 is filed quarterly and GSTR-4 is filed annually.
Late filing incurs penalties of ₹100 per day under CGST and SGST, coupled with an 18% interest charge on unpaid taxes. Non-filing attracts additional penalties. Chartered Accountants provide expert guidance to ensure seamless compliance.

GST Return Filing in Telangana

In Telangana, a taxpayer is required to submit 4 forms for GST returns. These forms include returns for supplies, purchases, monthly returns, and annual returns. No matter the company activity, sales, or profitability during the return filing period, all organisations with a valid GST registration in Telangana are required to file GST returns. Therefore, it is necessary to file GST returns even if a business is defunct and has a current GST registration.

Documents Required for Filing GST Returns in Telangana

• GSTIN
• Aadhar card
• B2B and B2C invoices
• Invoice date
• GST rate
• Taxable values
• Credit notes issued
• Debit notes issued and HSN summary of goods sold
• Amount of IGST, CGST, SGST, GST cess applicable.

Benefits for GST Returns Filing in Telangana

Here are some of the key benefits of filing GST returns in Telangana:

Rebate on tax paid

The Telangana government offers a rebate on the tax paid by businesses, which helps to reduce the burden of GST on businesses. This rebate can be claimed by businesses that file their returns on time and make timely payments of their GST dues

Simplified Compliance

The Telangana government has simplified the compliance requirements for GST, which has made it easier for businesses to understand and comply with the regulations. The government has also provided training and support to businesses to help them comply with the GST regulations

Better Record-Keeping

Filing GST returns requires businesses to maintain accurate records of their sales and purchases, which can help them keep track of their finances and make better business decisions

Improving Creditworthiness

Consistent filing of GST returns can enhance your business's creditworthiness, making it more eligible for loans and credit facilities offered by financial institutions

Increased Transparency

The introduction of the GST has brought about greater transparency in the tax system. Businesses are required to file regular returns, which helps to keep track of their transactions and ensures that they are paying the correct amount of tax. This has also helped to reduce tax evasion and improve compliance with the tax regulations.

Who Is Required to File the GST Returns in Telangana?

The following individuals must file a GST return in Telangana:

• In Telangana,anybody with a current GSTIN is required to file their GST returns
• Additionally, anyone whose annual revenue exceeds ₹20 lakh is required to register for GST and submit GST returns on a regular basis

How to File GST Returns in Telangana?

Vakilsearch conducts the entire Telangana GST return filing process online following the steps given below:

Step 1: Consult our experts

An experienced GST advisor is assigned to assist you at every step of the way

Step 2: Preparing the GST returns

Our GST professionals will get in touch with you and collect all the relevant data. We will prepare the documents required for GST returns

Step 3: Filing GST returns

Our in-house CA will file it in the GST portal within 24 hours. We will make sure that the returns are filed on time.

GST Return Filing in Telangana Under the Composition Scheme

• All individuals enrolled under the composition scheme are expected to submit their GST returns to Telangana using the CMP-08 once every three months and the GSTR 4 once a year via the GST facilitation centre or the GST (Goods and Service Tax) common site. For persons participating in the composition system,the GST return filing deadline is on the 18th of the month following a quarter.

Late Fees for Not Filing Return on Time

The cost of late fees is ₹100 per Act per day. As a result, it will cost ₹100 under CGST and ₹100 under SGST. The total will be ₹200 every day, with a ₹5,000 cap.

GST Return Forms for Telangana

Note: The Government may occasionally extend the deadlines for filing GST returns.

Why Choose Vakilsearch to File the GST Returns in Telangana?

Choose Vakilsearch as your knowledgeable guide and avoid non compliance. Get full support for GST registration and filling from top GST consultants in Telangana . By regularly filing accurate GST returns, businesses can also take advantage of the benefits it provides such as input tax credit, seamless inter-state transactions, and a simplified tax structure. With the help of online filing platforms, the process of filing GST returns in Telangana has become easy and efficient. So, make sure to file your GST returns on time and stay compliant with the government regulations. Our team stays up-to-date with GST return filing. We can complete the GST return filing in a much simpler and more convenient way as described below.

A Dedicated GST Advisor

As you register for GST and file your GST returns, a relationship manager with expertise in the sector you work in will be there to help.

Submit GST Returns

Our team will make sure that you get notices on time before the cutoff. We will regularly remind you so that you won't miss out on the deadline.

Get Monthly GST Status Reports

The GST advisors would provide clients with monthly updates outlining the status of GST return filing, including GSTR-3B, and subsequent actions.