Provides advice & guidance to clients regarding their investments & manage their investment portfolios.
About Us
Vijay Kishan Financial Services Private Limited(VKFS) was incorporated in the year of 2019 with the vision of providing support, timely resolution, advising clients and fulfilling their requirements in the best possible way. We are offering a wide range of Professional services to clients across Pan India and abroad.
About Us
GST Return Services
Vijaykishan Financial Services Private Limited
GST Return Services
A taxpayer registered under GST, depending on its category, must file several returns at the GSTN Portal. There are 22 types of GST Returns prescribed under the GST, out of which only 11 are active as of now. The due dates are subject to change by way of a notification; please refer to gst.gov.in for the updated information. The tax filing frequency can also opt as quarterly if the taxpayer turnover in the past financial year is less than Rs 5 Crore. The important GST Returns are as under with their respective due date.
| GST Return | Purpose | Applicability | Filing Frequency | Due Date |
|---|---|---|---|---|
| GSTR -1 | To Report details of Outward Supply | All Taxpayers | Monthly/Quarterly | 11th of Next Month or 13th of Next Month Following Quarter |
| GSTR – 3B | Statement of Tax Paid after taking input Tax Credit | All Taxpayers | Monthly/Quarterly | 22nd or 24th Day of Next Month |
| GSTR -4 | Annual Return to be filed by Composition Dealer | Composition Dealer | Annual | 30th April of Preceding Year |
Type of GST Returns:
- GSTR 1: GSTR-1 is a GST return in which we must file the Sales Data that includes a business name, GSTIN, dates of invoices, Taxable value, Tax, advances received, Export Details.
- GSTR-2A: This is another type of return that includes details of goods and services purchased by an entity & it will be shown in the Seller Portal in GSTR 2A. It is the responsibility of the seller to add all the information, you as a buyer just need to verify it.
- GSTR-2B: This is another type of return that includes details of goods and services purchased by an entity & it will be shown in Seller Portal in GSTR 2B on or after 14th of Next Month and Taxpayer can take Input Tax Credit as per this only for each of the Month.
- GSTR-3B: The is a consolidated summary return of inward and outward supplies that the Government of India has introduced to relax the requirements for businesses that have recently transitioned to GST. The GSTR-3B for a particular month should be filed by the 20th of the following month. For example, GSTR-3B for April should be filed by the 20th of May, and the GSTR-3B for the month of May should be filed by the 20th of June and so on.
- GSTR-4: Small taxpayers who have a turnover of up to 1.5 Crores need often opt for a compensation scheme. As a part of this scheme, a taxpayer pays taxes at a fixed rate. The fixed rate is 2 percent for manufacturers, 1 percent for suppliers and 5 percent for the restaurant service sector. Such taxpayers need to file a quarterly return called GSTR-4. Some details that need to be shared during GST online payment of quarterly return are the total value of supply done during the quarter, details of payment of tax and declaration of invoice-level purchase information.
Faq’s
Common Questions and Answers
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Can you provide guidance on the benefits and eligibility criteria for Start-Up India registration?
Start-Up India registration offers various benefits to eligible businesses, including tax exemptions, access to funding schemes, and eligibility for government tenders. Eligibility criteria include the age of the business and compliance with certain innovation and growth criteria.
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What is the significance of FSSAI registration for businesses in the food industry?
FSSAI registration is crucial for businesses in the food industry as it ensures compliance with food safety standards and regulations. It helps in building trust with consumers and regulatory authorities, thereby enhancing market credibility.
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Do you offer assistance with drafting and filing necessary documentation for tax exemption registrations?
Yes, we provide assistance with drafting and filing the necessary documentation for tax exemption registrations. Our experienced team will ensure that all required documents are accurately prepared and submitted to the relevant authorities.
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Can you provide ongoing support and assistance for compliance requirements post-registration?
Yes, we offer ongoing support and assistance for compliance requirements post-registration. Our team will keep you informed about any changes in regulations or compliance obligations and help you stay compliant with all applicable laws.
