1What is GST?
Goods and Services Taxes (GST), is an Indirect tax, applicable on sale of Goods and Services. Multiple taxes like VAT, Service Tax, etc are subsumed into GST.
2Who and when an entity has to register?
Every entity whose taxable supply of Goods or Services or both exceeds the threshold limit has to be registered for GSTIN.
|North Eastern States||10 Lakhs||within 30 days from the date on which he become liable to registration|
|Rest of India||20 Lakhs||within 30 days from the date on which he become liable to registration|
3Advantages of GST?
- Tax paid to Central Government (IGST) can be claimed as input. Removes double taxation.
- Fixed tax rates. The CGST and SGST are to be paid to the accounts of the central and states respectively.
- Exports will be zero rated, unlike the present system where refund of some taxes is not allowed due to fragmented nature of indirect taxes between the Centre and the States.
- Transparent tax system. Enhances transparency in the indirect tax framework and is expected to bring down the rate of inflation.
- Subsumed multiple taxes like VAT, ST, etc. No confusion on applicable taxation.
4What about the Registration Process?
- Send an email to firstname.lastname@example.org or call @ +91 7288 900 900 or Chat Online @ EZTax.in to get started your GST Registration
- Steps in Final GSTIN
After payment with EZTax.in, you will be receiving TRN, and ARN, generally with in 48 hours.
- TRN: Once the new user has registered in gst.gov.in , the entity will get a TRN (Temporary Reference Number) .
- ARN: the entity will get the ARN (Application Reference Number), after successful submission of GST Registration Application.
- GSTIN: After submitting the form, government will issue GSTIN number after due verification of the information with the respective state, central authorities.
5Ok. Got It. What are the documents needed for GST registration?
- PAN Card.
- Aadhaar card where ever possible.
- Digital Signature in case of companies and LLP.
- Valid mobile number and Email ID.
- Photograph of Proprietor, partners, authorized signatories.
- Registration Certificate obtained under earlier Tax laws.
- Proof of appointment of authorized signatory and their personal details.
- Proof of principal place of business.
- Opening page of Bank statement held in name of Business or Proprietor.
6Due dates for GST returns?
Every entity who has registered under GST has to file GST return within due dates. Check the below table for knowing the due dates,
|Return Form||Description||Due Date|
|GSTR 1||Sales: Furnishing details of outward supplies||Within 10th of succeeding Tax period|
|GSTR 2||Purchases: Furnishing details of inward supplies||Within 15th of succeeding Tax period|
|GSTR 3||Monthly Return after finalization of outward supplies and inward supplies||Within 20th of succeeding Tax period|
7Great. How much does it cost?
We are unique that we care about your relationship and value we provide. For SMEs, we are offering a 7 day FREE Trial and 50% OFF on their 1st year Subscription. For others, we charge a nominal fee based on the CA assistance and consultation if the user seeks it on need basis.
8What's so special about EZGST, then?
- EZGST is most modern online GST return Filing Software in India.
- Upload your Excel or prepare customized Invoices.
- Built its product on innovation, experience, to scale to Pan India presence.
- Worked with top most CA organizations in the industry, to bring a true self-service GST return Filing experience.
- We DO NOT divert your GST return Filings to Assisted and/or CA Plans unlike other competitors in the market.
- Our pricing model is clear, for SMEs, we are offering a 7 day FREE Trial and 50% OFF on their 1st year Subscription, we charge nominal fee for CA assisted plans, we do not change the price based on your income levels.
- EZGST is the only GST return Filing software that provides iValidator to make sure error free Filings *
- EZGST built its infrastructure to keep the data in India, unlike other foreign companies.
9Is GSTR 1 filing mandatory?
GSTR 1 needs to be filed even if there is no business activity (NIL return) in the tax period.
10What are available modes of preparing GSTR 1?
GSTR 1 can be prepared through the following modes.
- Online entry in the GST portal.
- Uploading of invoice and other data using returns offline tool.
- Using third party application like ASPs through GSP’s.
11Which type of registered taxpayers are not required to file GSTR 1?
The following taxpayers are not required to file GSTR 1
- TaxPayers registered under Composition scheme.
- Non-resident foreign taxpayers.
- Input Service Distributors.
- Tax Deductor.
- E Commerce operators deducting TCS.
12What is the due date for the payment of monthly tax liabilities for normal taxpayers?
A normal taxpayer is required to discharge tax liability at the time of filing GSTR 3. The current due date for filing GSTR 3 is 20th of succeeding month.
13What are the prerequisites for filing GSTR 1?
- The taxpayer should have a valid GSTIN and login credentials.
- The taxpayer should have active DSC if DSC is mandatory.
- If taxpayer wants to use E- Sign, he must have valid Aadhar number with access to mobile number and email.
- If taxpayer wants to use EVC he must have valid mobile number and e mail id.
14Is DSC mandatory for all types of taxpayers?
DSC is not mandatory for all types of taxpayers. It is mandatory for all public & private limited companies, Limited Liability Partnerships(LLPs).
15What are B2B, B2C Supplies?
- B2B: It refers to supplies between registered taxable entities.
- B2C: It refers to supplies between registered supplier & Unregistered buyer.
16What is GSTR 2?
GSTR 2 contains invoice level inward supply information rate wise as reported by the supplier in GSTR 1. Most of the details are auto populated from the other party return.
17How can the tax payer act on the auto populated information in GSTR 2?
The taxpayer can accept, reject, modify (if information provided by supplier is incorrect) or keep the transactions pending for action (if goods or services have not received).
18Can the taxpayer add invoices if the supplier did not upload the invoice?
Yes. The taxpayer can add invoice if he is in possession of invoices and have received the goods or services.
19Who is required to file GSTR 2?
Every registered taxable person other than input service distributor/Composition taxpayer / TDS Deductor/TCS Collector (E Commerce operator) is required to file GSTR 2.
20What happens if the other party file their returns after filing of GSTR 2 by the taxpayer?
When GTSR 1 is filed after filing of GSTR2 by the counterparties, the details declared in GSTR 2 gets auto populated to GSTR 1 and the supplier is expected to take action on such details before filing of its GSTR 1.
21What is GSTR 3?
GSTR 3 is a monthly return based on the finalization of GSTR 1 and GSTR 2 .GSTR 3 can be generated only when GSTR 1 and GSTR 2 for the tax period have been filed by the taxpayer.
22Is it mandatory to pay the tax liability before filing GSTR 3?
Yes, it is mandatory to discharge the liability before filing GSTR 3. If not discharged, it is treated as invalid return.
23What are the modes of discharging tax liability before filing GSTR 3?
Tax liability can be discharged by utilizing credit available in electronic credit ledger and electronic cash ledger.
24What happens if a taxpayer has filed the return and intends to discharge the tax liability later?
The return will be treated as invalid return and the taxpayer has to file the part B of GSTR 3 again.
25When can the tax payer claim refund from electronic cash ledger?
The taxpayer can claim refund from electronic cash ledger when all the return related liabilities for that tax period have been discharged.