Return Turnover Filing frequency Tax Period Late fees Interest GSTR 3B Up to 5 Cr Quarterly Mar – 21 Waived for 30 days Interest waived for 15 days and 9% from 16th to 30th day GSTR 3B Monthly Mar – 21 & Apr – 21 GSTR 3B Above 5 Cr. Monthly Mar – 21 & Apr – 21 Waived...
To file a zero return in GST, log in to the GST portal, select the appropriate return form, and fill in the details indicating zero transactions for the taxable period. Submit the form to complete the filing process. If you need assistance, get in touch with our experts today. ...
The frequency of GST filing depends on the type of taxpayer and the type of return. For example, regular taxpayers with an annual turnover of more than Rs.5 crore must file two monthly returns (GSTR-1 and GSTR-3B) and one annual return (GSTR-9). How long is a GST registration val...
A business is required to register for GST in Canada when the taxable supply exceeds the registration threshold of CAD$30,000. Below this amount the business is considered as small enterprise. Persons required to register must submit the application to the Canada Revenue Agency within 30 days fol...
According to a tax expert, the GST e-invoice generation system will reduce the double efforts as well as the manual involvement in the tax returns filing and checking. It said, “To incentivize businesses to adopt the new system, the tax department could limit the frequency of mandatory depa...
due-dates for return filingandwaiver of late fees and interesthas helped the businesses, especially the small businesses, to manage their cash outflow. Then we saw some moves to ease reporting requirements by reducing the frequency of filing, making reporting optional for certain sections and so ...
Filing GST Returns and Maintaining Compliance Frequency: GST returns need to be filed monthly, quarterly, or annually, depending on your turnover and type of business. Process: File returns online through the GST portal, ensuring accurate reporting of sales, purchases, and tax liabilities. ...
GST Filing:The new e-wallet will allow goods vehicle owners to use the transaction data for filing GST returns. How to buy these Tags? A person can buy the FASTag through any nearby POS locations such as Toll Plaza, Partner Banks, issuer agencies or online aggregators like Amazon, etc. ...
Opting out of Composition Scheme on crossing the threshold of composition scheme Late fees in case of following a. GSTR 10 – Final Return (in case of cancellation of registration) b. Delay in filing annual return for FY 17-18 and older period returns Liability of Partner of firm to pay ...
Generation-skipping trusts are liable for taxation if the amount transferred exceeds a certain annually adjusted threshold. In 2024, the generation-skipping trust tax exclusion is $13.61 million for single taxpayers, or $27.22 million for couples filing jointly. ...