Start Up India

GST Return Filing GST return under the GST regime is crucial as non-compliance and delay will result in penalties and affect your compliance rating and timely refunds. All registered businesses have to file monthly, quarterly and/or annual GST Returns based on the type of business . In this article, we cover the following topics: What is GST Return? Who has to file GST Returns? What are the types of GST Returns? Late Fees for not Filing Return on Time 1. What is GST Return? A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability. Under GST, a registered dealer has to file GST returns that includes: Purchases Sales Output GST (On sales) Input tax credit (GST paid on purchases) To file GST returns, GST compliant sales and purchase invoices are required. 2. Who has to file GST Returns? In the GST re...

Businesses are required each year to maintain GST compliance. In this article, we look at the list of returns to be filed by various types of businesses under GST along with GST return due dates. How to File GST Returns? GST Returns can be filed online through the GST Common Portal. The proposed GST regime is backed by a technology platform maintained by the GSTN. GSTN has provided GSP Licenses for enabling businesses to file GST returns through various types of accounting software and ERP systems. Hence, GST return can be filed directly on the GST Common Portal or through a GST accounting software with the requisite features. When to File GST Returns? Under GST, a regular taxpayer needs to furnish three monthly returns and one annual return. If a taxpayer is registered under the composition scheme or is a non-resident taxpayer or is a taxpayer registered as an Input Service Distributor, or a person liable to collect TDS or TCS or was granted UIN, then they would have to fil...

ESI Registration Why ? Provides complete medical care to employees Includes employee’s dependants also Mandatory for units with >10 employees Applicability The following establishments employing 10 or more persons attracts ESI coverage: Shops Hotels or restaurants not having any manufacturing activity, but only providing service. Cinemas Roadside Motor Transport Establishments; News paper establishments. Private Educational Institutions and Medical Institutions In some states the minimum employees required for coverage is for 20 or more. A few State Governments have not extended scheme to include Medical & Educational Institutions. Employee State Insurance Corporation Employee State Insurance Corporation or ESIC is a self-financing social security and health insurance scheme which provides medical benefit, sickness benefit, maternity benefit, disablement benefit and various other benefits such as funeral expenses, free supply of physical aids etc....