What we do
Our work in this practice group is structured around the records, deadlines, and decisions involved:
- Timely preparation and filing of applicable GST returns.
- Accurate reporting of outward supplies and GST liability.
- Review and reconciliation of input tax credit.
- Reconciliation of books with GST return data.
- Identification of invoice errors and potential GST mismatches.
- Better compliance monitoring and reduced risk of late fees or interest.
- Support for GST return-related notices and discrepancies.
How the engagement works
Regular GST return filing is governed by the applicable provisions of the Central Goods and Services Tax Act, 2017, corresponding State or Union Territory GST laws, GST Rules, notifications, and prescribed return procedures. Regular taxpayers may have periodic reporting requirements including GSTR-1 and GSTR-3B, subject to the applicable filing frequency, turnover, scheme, and statutory conditions. Input tax credit must be reported and claimed in accordance with the applicable provisions and conditions, and taxpayers must comply with the prescribed filing timelines and payment requirements.
Scenario 1: A registered business needs monthly or quarterly preparation and filing of its applicable GST returns.
Scenario 2: A company has a large number of sales and purchase invoices and requires systematic GST data reconciliation before filing.
Scenario 3: A business notices differences between its purchase records and the input tax credit reflected in GST records.
Scenario 4: A taxpayer wants professional assistance with GST liability calculation, return preparation, and timely tax payment.
Scenario 5: A business has received a GST return-related notice or identified an error in a previously filed return and needs professional assistance.
GST Data & Invoice Review
We review sales invoices, purchase invoices, credit and debit notes, expenses, and other transaction data required for preparing the applicable GST returns.
Outward Supply Reporting
We prepare and review outward supply information for reporting in the applicable GST return, including taxable supplies, exempt supplies, amendments, and other relevant details.
Input Tax Credit Reconciliation
We reconcile purchase records and available GST data to identify eligible input tax credit, mismatches, missing invoices, and other issues requiring attention.
General questions
01What are regular GST returns?
Regular GST returns are periodic GST filings made by registered taxpayers under the applicable GST framework to report supplies, tax liability, input tax credit, and other prescribed information.
02What is GSTR-1?
GSTR-1 is a GST return or statement used by applicable taxpayers to report details of outward supplies and related invoice information as prescribed under the GST framework.
03What is GSTR-3B?
GSTR-3B is a periodic GST return used by applicable taxpayers to report summarized outward supplies, input tax credit, tax liability, and payment of GST.
04How often do regular GST returns need to be filed?
The filing frequency depends on the taxpayer’s applicable GST scheme, turnover, and other statutory conditions. Certain taxpayers may file monthly while eligible taxpayers may have quarterly reporting under applicable provisions.
05What documents are required for GST return filing?
Documents and data may include sales invoices, purchase invoices, credit and debit notes, expense records, e-invoice data where applicable, e-way bill information, GST portal records, bank or payment information, and other relevant accounting data.
06What happens if GST returns are filed late?
Late filing may result in applicable late fees, interest, and other statutory consequences depending on the type of return, period, and circumstances. Timely filing and payment are therefore important.
07Can you help with GST return mismatches?
Yes. We can review differences between books, invoices, GST portal data, and input tax credit records and assist with reconciliation and appropriate corrective action where permitted.
