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GST Basic Package (QUARTERLY) Whose Turnover is Less Than 25 Lacs

About of Service

The services offered for the GST Basic Package (QUARTERLY) aimed at businesses with a turnover less than 25 lakhs typically include:

  1. GST Registration Assistance: Help with GST registration if the business is not yet registered under GST.

  2. Quarterly GST Return Filing: Filing of quarterly GST returns (GSTR-1 for outward supplies and GSTR-3B for summary returns) to comply with GST regulations.

  3. GST Compliance Management: Ensuring timely compliance with GST laws, including adherence to filing deadlines and maintaining necessary documentation.

  4. Basic Advisory Services: Providing basic advisory on GST matters, including updates on GST rates, notifications, and regulatory changes affecting the business.

  5. Record Maintenance: Assisting in maintaining essential records required under GST regulations to support filings and audits.

  6. Annual GST Return Preparation: Preparation and filing of the annual GST return (GSTR-9) at the end of the financial year.

  7. Update on Regulatory Changes: Keeping clients informed about changes in GST laws and regulations impacting their business operations.

  8. GST Audit Support: Basic support during GST audits, including preparation of required documents and responding to audit queries.

  9. Query Resolution: Addressing basic queries and clarifications related to GST filing and compliance throughout the quarter.

Uses and Benefits
  • GST Registration Assistance: Helping businesses register under GST, if they are not already registered, based on turnover thresholds and legal requirements.
  • Quarterly GST Return Filing: Filing of quarterly GST returns (GSTR-1 for outward supplies and GSTR-3B for summary returns) within the prescribed deadlines.
  • GST Compliance Management: Ensuring businesses adhere to GST compliance requirements, including timely filing of returns and maintenance of necessary records.
  • Basic Advisory Services: Providing essential advisory on GST matters, including updates on GST rates, notifications, and regulatory changes affecting the business.
  • Record Maintenance: Assisting in maintaining essential records required under GST regulations to support filings and audits.
  • Annual GST Return Preparation: Preparation and filing of the annual GST return (GSTR-9) at the end of the financial year
  • Update on Regulatory Changes: Keeping clients informed about changes in GST laws and regulations that impact their business operations.

Select your own Associate

Charges Structure & Our Scope of Work

Additional Disclosure

  1. Organizational Information:

    • Provide basic details about your organization, including its legal name, business address, nature of business, and GSTIN (Goods and Services Tax Identification Number).

  2. Turnover Details:

    • Clearly state the turnover for the applicable quarter, ensuring it remains below the threshold of 25 lakhs to qualify for the basic package.

  3. Sales and Purchase Details:

    • Provide a summary of sales and purchases made during the quarter, categorized by taxable and exempt supplies.

  4. Input Tax Credit (ITC):

    • Detail the ITC claimed during the quarter, including eligible ITC, reversals, and adjustments.

  5. GST Returns Filing:

    • Confirm that GST returns (GSTR-3B) for the quarter have been filed accurately and on time.

  6. Declaration of Turnover:

    • Declare that the turnover reported complies with the threshold requirement for the GST Basic Package (Quarterly).

  7. Compliance with GST Rules:

    • Ensure compliance with all applicable GST rules, regulations, notifications, and circulars.

  8. Internal Controls and Procedures:

    • Describe any internal controls and procedures in place to ensure accurate reporting and compliance with GST regulations.

Terms & Conditions

Documents & Detail Required

For the GST Basic Package (QUARTERLY) intended for businesses with a turnover less than 25 lakhs, the typical documents required include:

  1. Identity Proof:

    • PAN card of the proprietor/partners/directors

  2. Address Proof:

    • Aadhaar card
    • Passport
    • Voter ID
    • Utility bill (electricity, water, gas, etc.)

  3. Bank Account Details:

    • Bank statement
    • Cancelled cheque

  4. Business Registration Proof:

    • Partnership deed (for partnerships)
    • Certificate of incorporation (for companies)
    • Registration certificate under relevant acts (if applicable)

  5. Financial Documents:

    • Income statement
    • Balance sheet (if available)
    • Previous year’s turnover details

  6. Authorization Letter (if applicable):

    • Authorizing the GST consultant or advisor to file returns on behalf of the business

  7. Any Additional Documents:

    • Depending on specific requirements or business activities, additional documents such as rent agreement, NOC from the landlord, etc., may be required.

Please Note Down Your Querie

OUR REVIEW

FAQ'S

Who is eligible for the GST Basic Package (QUARTERLY)?

Businesses with an annual turnover of less than 25 lakh are eligible for this package. It is designed to assist small businesses in meeting their GST compliance requirements efficiently.

What services are included in the GST Basic Package (QUARTERLY)?

The package typically includes GST registration assistance (if required), quarterly GST return filing (GSTR-1 for outward supplies and GSTR-3B for summary returns), basic advisory services on GST compliance, record maintenance, annual GST return preparation (GSTR-9), and updates on regulatory changes.

Do I need to register for GST if my turnover is less than 25 lakh?

Businesses with a turnover less than 25 lakh are not required to register for GST. However, voluntary registration is possible and may be beneficial for availing input tax credit and expanding business operations.

What documents are required for GST registration under this package?

Documents required typically include identity proof, address proof, bank account details, business registration proof (partnership deed, certificate of incorporation), financial documents, and an authorization letter if appointing a GST consultant.

How often do I need to file GST returns under this package?How often do I need to file GST returns under this package?

Quarterly GST returns (GSTR-1 and GSTR-3B) need to be filed under this package to maintain compliance with GST laws. The deadlines for filing are generally the 10th of the following month after the end of the quarter.

What is GSTR-9 and when do I need to file it?

GSTR-9 is the annual GST return summarizing the details of outward and inward supplies made during the financial year. It needs to be filed by 31st December of the subsequent financial year.