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If you are a GST registered business, you must file GST returns according to the government’s deadlines. GST-compliant purchase and sales invoices are necessary to file a GST return. The information on purchase, sale, output GST (on sale), and input tax credit is included in the GST return. GST Return Filing Consultants in mumbai Maharashtra, GST consultant.

Every normal person who is GST registered is required to complete three monthly returns and one yearly return. The GSTR returns that must be filed for any ordinary business are:

Procedure for Filing GST Returns in Mumbai GSTR-1: Monthly return detailing outbound supply of taxable goods and/or services.

How to File GST Return Online in Mumbai?

• By the 11th day of the month following the month, the taxpayer will submit the final GSTR-1 return either directly by data input in the GST Common Portal or by uploading the file holding the stated GSTR-1 return using the software or apps supplied by GSTN.
• The taxpayer’s provisional GSTR-2 will be prepared automatically.
• The purchasing taxpayer will have the option of accepting, rejecting, or changing the provisional GSTR-2.
• Additional purchase invoice information that were not provided by the supplier as described in Steps 1&2 might be added by the purchasing taxpayer to his GSTR-2.
• Taxpayers will also have the option of reconciling inbound supplies with suppliers for any missing supply invoices in the GSTR-1 of the suppliers throughout the following 7 days.
• GSTR-1 and GSTR-2 returns will be completed by taxpayers.
• The amount mentioned in the draught GSTR-3 return created automatically at the online Portal will be paid by taxpayers. Following the completion of the tasks 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 form and submit it. GST Return Filing Consultants in mumbai Maharashtra, 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 next 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, several time periods have been established. 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 obligated to compensate interest at the rate of 24% on the excess claim/reduction.

Is it possible to make changes to a GST return after it has been submitted online?

We cannot edit a GST return that has been filed online in Mumbai within the GST return deadline, but we may make any modifications to the details in the amendment part of the next period’s return. GST Return Filing Consultants in mumbai Maharashtra, GST consultant.