Cloud Based Accounting Software to File GST Return Online
GST Return Collaborators
Frequently Asked Questions
What is GST?
GST (also known as Goods and Services Tax) is a value-added tax that is levied on a majority of goods and services that are sold for domestic consumption. This tax is paid by consumers while availing a service or purchasing a product, but it is remitted to the government by businesses that are selling the respective goods and services. In other words, GST provides a means of revenue for the government.
What is the GST Number?
GST Identification Number or GSTIN is a unique 15-digit identification number allotted to every registered person under GST. Every person who crosses the threshold for GST registration is required to get a GSTIN.
How to register for GST?
As per the GST rules, a business having a turnover of Rs 40 lakhs ( Rs 10 lakhs for businesses in hill states and North East states) has to register as a taxable entity, known as GST registration process. It can be completed online on the official GST website within 6 working days.
Here’s the step-by-step process for GST registration:
Log in to the GST portal (https://www.gst.gov.in/) or visit a facilitation center and submit your PAN, email id, and mobile number in Part A of Form GST REG–01
The PAN is verified on the portal, while the email id and mobile number are verified through an OTP.
Once verified, you’ll receive an application reference number on your registered mobile number and email id.
You can file and submit Part- B of Form GST REG-01 with the required documents and the application reference number.
In case any additional information is required, GST REG-03 will be issued.
You’ll need to respond to GST REG-04 within 7 days from the date of receipt of GST REG-03.
Once you’ve provided all details from Form 01-04, the registration certificate will be issued in Form GST REG –06.
If you’ve multiple businesses, then you’ll need to file separate GSTs for your separate businesses.
Form GST REG-05 is used to reject the applications which don’t meet the criteria.
If you deduct TDS and collect TCS, then you can submit Form GST REG – 07 at the time of registration.
Giddh makes this even easier by letting business owners directly file their GST from within the software.
What is GST Returns Filing?
GST Returns filing is the registration of GST Returns document, which contains all details concerning GST invoices, payments, and receipts during a specific period. The details that need to be filed in the GST Returns document are:
Output GST (paid by customers)
Input Tax Credit (ITC paid by businesses)
What are the benefits of using Giddh software for GST Returns Filing?
There are several benefits to using the Giddh software for GST Returns Filing:
Prepare your GST return file automatically on the portal
100% accurate filing with zero chances of errors
Notifications of deadlines so that you don’t miss any deadline
Collaborate with your team and allow access of GST data to your CA
Secure and reliable with 2-factor authentication and OTP verification