GST-E-Compliance

In GST law, “Filing of Returns” constitutes the most important compliance procedure which enables the Government/tax administrator to estimate the tax collection for a particular periodand determine the correctness and completeness of the tax compliance of the tax payers.

The term “Return” ordinarily means statement of information (facts) furnished by the tax payer, to tax administrators, at regular intervals. The information to be furnished in the return generally comprises of the details per taining to the nature of activities/business operations forming the subject matter of taxation; the measure of taxation such as sale price, turnover, or value; deductions and exemptions; and determination and discharge of tax liability for a given period.

Under the GST laws, the correct and timely filing of returns is of utmost importance because of two reasons. Firstly, under GST laws, a taxpayer is required to estimate his tax liability on “self-assessment” basis and deposit the tax amount along with the filing of such return. Secondly, under the GST regime, filing of returns not only determines the tax liability of the person filing the same, but it also has a huge bearing on determination of tax liability of other persons with whom the former has entered into taxable activities.

Note: Due date of filing return, that requires payment of tax is the due date of payment of GST

At DVKS & Associates, our experienced professionals will help you to identify and solve the challenges that stand in the way of your growth and progress as we know.

• The GST law is at a nascent stage and subject to frequent changes. We ensure you to provide regular updates and Systematic Liaising and follow up with tax authorities.
• Our Experts file your returns and ensure you get a proper input tax credit and save money
• our professional file returns for many other businesses like yours and are always up to date with it
• Your filing with be error-free and you will save a lot of time and effort.