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SattvaCFO is one of Mumbai’s top GST Return Filing Services. If you are a GST registered business, you must file GST returns according to the government’s deadlines. GST-compliant sales and purchase invoices are required to file a GST return. The information on purchase, sale, output GST (on sale), and the input tax credit is included in the GST return (GST paid on purchases). GST Return Filing Consultants in Bengaluru Karnataka, GST consultant.

Every regular person who is GST registered is required to file three monthly returns and one annual return. The GSTR returns that must be filed for any regular business are:

• Procedure for Filing GST Returns in Mumbai GSTR-1: Monthly return detailing outward supplies of taxable goods and/or services.
• Mumbai GST Return Form GSTR-2: Information about inbound taxable goods and/or services for which an input tax credit was claimed. Return on investment every month
• GST Filing Tax Returns in Mumbai GSTR-3: Monthly return based on the finalisation of details of outward and inward supplies, as well as the payment of tax. Return on investment every month
• In Mumbai, the GST is paid. Annual Return (GSTR-9) In Mumbai, the annual GST payment is made online. GSTR-3B: Return for the months of July 2017 to March 2018 (provisional). Return on investment every month

What is the procedure for filing a GST return online in Mumbai?

The following are the steps for filing a GST Return Online in Mumbai:

• By the 11th day of the month following the month, the taxpayer will upload the final GSTR-1 return either directly through data entry in the GST Common Portal or by uploading the file containing the said GSTR-1 return using the software or apps provided by GSTN.
• The taxpayer’s provisional GSTR-2 will be generated automatically.
• The purchasing taxpayer will have the option of accepting, rejecting, or changing the provisional GSTR-2.
• Additional purchase invoice details that were not uploaded by the supplier as mentioned in Steps 1&2 can be added by the purchasing taxpayer to his GSTR-2.
• Taxpayers will also have the option of reconciling inward supplies with suppliers for any missing supply invoices in the GSTR-1 of the suppliers during the next 7 days.
• GSTR-1 and GSTR-2 returns will be completed by taxpayers.
• The amount shown in the draught GSTR-3 return generated automatically at the online Portal will be paid by taxpayers. Following the completion of the activities listed in Step 6 above.
• The taxpayer will debit both the ITC and the cash ledger, then include the debit entry number in the GSTR-3 return and submit it.

Documents Needed to File a GST Return in Mumbai

We provide a specific format for filing various returns that includes all of the sections required to file returns. GST Return Filing Consultants in Bengaluru Karnataka, GST consultant.

FAQ

In Mumbai, who is required to file a GST Return online?

Under the GST Act, a registered dealer must file a GST return online in Mumbai regardless of company activity, sales, or profitability during the return filing period.

What is the GST payment return deadline in Mumbai?

GST payment due date in Mumbai for a conventional taxpayer is the 20th day of the following month, and for a taxpayer enrolled under the composition scheme is the 18th day of the following quarter.

What is the frequency with which the GST Return form must be filed in Mumbai?

Depending on the nature of the transaction and the number of taxpayers registered, different time periods have been established. Regular taxpayers, non-resident aliens, input service distributors, tax deductors, and e-commerce operators must file a monthly return, whereas composition taxpayers must file a quarterly return. Aside from that, an annual return is required to be filed.

What happens if the GST payment isn’t paid by the due date for the GST return in Mumbai?

If a GST payment in Mumbai is not submitted by the statutory GST return date, interest at the rate of 18% must be charged. And, if a person claims an undue/excess ITC or an undue/excess decrease in production tax liability, he will be liable to pay interest at the rate of 24% on the excess claim/reduction. GST Return Filing Consultants in Bengaluru Karnataka, GST consultant.