File GST Return Online in Assam

All entities registered under GST are required to submit GST return filing in Assam, 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 Assam

GST, a comprehensive income tax system, has been implemented in India, guaranteeing that taxpayer services including registration, returns, and compliance are within budget and precisely coordinated. Businesses that have registered for GST are required to submit GST returns on a monthly, quarterly, or annual basis, depending on their particular industry. Forms including returns for supplies, returns for purchases, monthly returns, and yearly returns, must be submitted by an individual taxpayer who is completing GST returns. Regardless of the business activity, sales, or profitability during the period of filing the reports, all organisations with a valid GST registration in India are required to file GST returns. Consequently, even an inactive entity with a current GST registration is required to file GST returns.

Documents Required for GST Return Filing in Assam

• GST registration certificate
• Invoices for all taxable supplies made during the return period
• Details of all purchases made from registered suppliers
• Bank statements to match and reconcile inputs with outputs
• TDS/TCS certificates, if applicable
• Electronic cash ledger statements
• HSN/SAC code-wise details of supplies made and received
• GST returns of previous periods.

Benefits for GST Returns Filing in Assam

GST registration in Assam or submitting the returns on time before the GST filing deadlines can provide many benefits. Some of them are discussed below:

Input Tax Credit (ITC)

Filing GST returns on time allows businesses to claim Input Tax Credit (ITC) for the GST paid on their purchases, which can help reduce their tax liability

Avoiding Penalties

Late filing of GST returns can result in penalties. By filing returns on time, businesses can avoid these additional costs and remain compliant with the law

Improved Compliance

Filing GST returns helps businesses comply with the GST Act and maintain transparency in their business transactions and tax payments

Building Trust

By filing GST returns on time, businesses can build trust with their customers and suppliers, which can help improve their reputation and relationships.

Facilitating Business Operations

Filing GST returns online is a simple and convenient process that can help businesses save time and effort.

Availability of GST Portal

Assam has made the GST (Goods and Service Tax) portal readily available, and businesses can access it easily to file their returns, facilitating their GST compliance.

Who Is Required to File the GST Returns in Assam?

In India, the following actions must be taken to file a GST return:

• The GST returns must be compulsorily filed by everyone with a valid GSTIN
• A person must also register for GST and submit GST returns on a mandatory basis if their yearly revenue exceeds ₹20 lakh
• The cap on annual turnover in situations involving special states is ₹10 lakh.

How to File GST Returns in Assam?

Vakilsearch conducts the entire Assam 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 Assam Under the Composition Scheme

All individuals enrolled under the composition scheme must submit their GST returns to Assam quarterly via the GST facilitation centre or the GST common portal. For people participating in the composition system in Assam, 18 of the month following a quarter is the deadline for filing a GST return

The following information should be included in the filed GST return:

• Interstate and intrastate inward supplies are received from both registered and unregistered individuals, invoice by invoice
• Collected data about the produced external supplies.

Late filing of GST returns in Assam

Late fees are charged at ₹100 per day per Act. Hence, it will be ₹100 under CGST and ₹100 under SGST. The total will be ₹200 per day, subject to a maximum of ₹5,000.

• GST Form GSTR-1: The late fee is ₹200 per day for every missing return
• GST Form GSTR-3B: The late fee is ₹50 per day for every missing return
• GST Form GSTR-2: No late fee is levied for missing GSTR-2 returns
• GST Form GSTR-3: The late fee is ₹200 per day for every missing return.

GST Return Forms for Assam

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

Why Choose Vakilsearch to File the GST Returns in Assam?

Choose Vakilsearch as your knowledgeable guide and avoid non compliance. Get full support for GST registration and filling from top GST consultants in Assam. Filing GST returns in Assam is an important aspect of any business, regardless of its size. Failing to file GST returns can result in penalties and legal consequences, which can harm the business's reputation and financial stability. Additionally, the process of GST return filing has become much simpler and more convenient with the availability of online platforms, making it easier for businesses to file returns quickly and efficiently. So, if you're operating a business in Assam, it's time to start thinking about GST return filing and take advantage of the benefits it can offer. 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

Monthly updates detailing the status of GST return filing, including GSTR-3B, and subsequent actions would be given to clients by the GST advisors.