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

About of Service

The services offered for the GST Basic Package (MONTHLY) for businesses with a turnover less than 25 lakh typically include:

  1. GST Registration: Assistance with obtaining GST registration, if not already registered.

  2. GST Filing: Monthly filing of GST returns (GSTR-1 for outward supplies and GSTR-3B for summary returns) to maintain compliance with GST laws.

  3. GST Compliance: Ensuring timely compliance with GST regulations, including adherence to filing deadlines and proper documentation.

  4. GST Advisory: Basic advisory services on GST compliance, including updates on GST rates, notifications, and clarifications issued by the GST authorities.

  5. GST Support: Addressing basic queries and clarifications related to GST filing and compliance.

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

  7. Annual Compliance: Preparation and filing of annual GST returns (GSTR-9) as per regulatory requirements.

  8. Update on Regulatory Changes: Keeping clients informed about changes in GST laws and regulations affecting their business.

  9. Audit Support: Basic support during GST audits, including preparation of necessary documents and records.

Uses and Benefits
  • GST Registration: Assistance with GST registration if the business is not already registered under GST.
  • Monthly GST Return Filing: Filing of monthly GST returns, including GSTR-1 (for outward supplies) and GSTR-3B (for summary returns), ensuring timely compliance with GST laws.
  • GST Compliance Management: Monitoring and ensuring adherence to GST compliance requirements, including filing deadlines and document maintenance.
  • Basic Advisory Services: Providing basic advisory on GST matters, including updates on GST rates, notifications, and regulatory changes impacting the business.
  • Record Maintenance: Assisting in maintaining basic records required under GST regulations to support filings and audits.
  • Annual GST Return Preparation: Preparation and filing of the annual GST return (GSTR-9) as per regulatory requirements.
  • Update on Regulatory Changes: Keeping clients informed about changes in GST laws and regulations that affect 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 period (monthly in this case), ensuring it is 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 month, categorized by taxable and exempt supplies.

  4. Input Tax Credit (ITC):

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

  5. GST Returns Filing:

    • Confirm that GST returns (GSTR-3B) for the month 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 (Monthly)

Terms & Conditions

Documents & Detail Required

For the GST Basic Package (MONTHLY) aimed at businesses with a turnover less than 25 lakh, the documents typically required include:

  1. Identity Proof of Proprietor/Partners/Directors:

    • PAN card
    • Aadhaar card
    • Passport (if applicable)

  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 (MONTHLY)?

Businesses with an annual turnover of less than 25 lakh are eligible for this package. It is ideal for small businesses looking to comply with GST requirements affordably.

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

The package typically includes GST registration (if required), monthly GST return filing (GSTR-1 and GSTR-3B), 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?

Monthly GST returns (GSTR-1 for outward supplies and GSTR-3B for summary returns) need to be filed under this package to maintain compliance with GST laws.

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

GSTR-9 is the annual GST return that summarizes 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.