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GST Services Rate

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What Is GST?

GST mean Goods and Services Tax is an indirect form of tax which has replaced other form of indirect taxes like VAT, 
Service tax, duties of Excise, sales tax etc. GST made indirect taxation much simpler and easier, by removing cascading effects of taxes.GST is governed under Goods and Service Tax Act, was passed in the Parliament on 29th March 2017 and act come into effect on 1st july 2017.

Who are applicable

When a business turnover crosses INR 20 lakh then it is compulsory to register his/her business under GST.

Consequences of non filing or late filing of return under GST:

Late filing will lead to payment of late fee which will be INR 100 per day for CGST & SGST respectively, 
means fine will be of 200 per day. Incase of NIL return late filling fees gone be charges 25 rupees  CGST & 25 Rupees SGST and IGST 50 rupees only. And the Hire amount gone be charge by department to consumer for rupees 5000/- Per month

Additional penalties as follows-

Tax amount involved100-200 lakhs200-500 lakhsAbove 500 lakhs
Jail termUpto 1 yearUpto 3 yearsUpto 5 year
FineIn all three cases  
Inspection under GSTIf the joint commissioner of SGST/CGST may have reason to believe that in order to evade tax a person has done fraud then joint commissioner can authorize any officer to inspect places of business of suspected evader.  

Service Details-

Service NameService detailsStatus
GSTR 1I a monthly Statement of Outward Supplies to be furnished by all normal and casual registered taxpayers making outward supplies of
goods and services or both and contains details of outward supplies of goods and services.
Working
GSTR 2Is a statement in which a regular dealer needs to capture all the inward supplies made during the month. Broadly, all the inward supplies
from registered businesses, including the supplies on which tax needs to be paid on reverse charge are required to be captured at the invoice level to file.
Suspended
GSTR 3Is a monthly return with the summarized details of sales, purchases, sales during the month along with the amount of GST liabilitySuspended
GSTR 4Is a return under GST that needs to be filed once every 3 months by registered tax payers who have signed up for the composition
scheme (those who opt for this scheme are known as compounding vendors). They would be required to pay taxes at fixed rate without any input tax credit facilities.
Working
GSTR 5Every registered non-resident taxable person is required to furnish a return in GSTR-5 in GST Portal.If applicable
GSTR 6Is a monthly return that has to be filed by an Input Service Distributor. It contains details of ITC received by an Input Service Distributor
and distribution of ITC. There are a total of 11 sections in this return
Working
GSTR 7 is the return that has to be filed by the tax deductor about tax deducted at source.Deductor is required to file the return and has to
provide the detail of amount of TDS in his return. When deductor pays the amount of TDS, it shall get reflected into the credit ledger of the deductee
Working
GSTR 8E-commerce operator is any person who owns or manages the digital or electronic facility or platform for electronic commerce such as
 Amazon, Flipkart, etc. The e-commerce operator provides a platform whereby the sellers can reach out to a large number of customers by getting registered online on their platform
Working
GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. It consists of details regarding the outward and inward supplies
made/received during the relevant previous year under different tax heads
Working
GSTR 10Is a return to be filed by taxpayers whose GST Registration has either been surrendered by the taxpayer or has been canceled by
authorities. The return is also called as Final Return, which is different from Annual Return.
Working
GSTR 11Is the return form to be furnished by the persons who have been issued a Unique Identity Number (UIN), in order to obtain refunds
under GST, for all the goods and services purchased by them in India.
Working

Professional Fee Chart

Charged Monthly

Base amt1,500.00
Tax amt270.00
Total Amt.1,770.00

Charged Annually

Base amt16,200.00
Tax amt2,916.00
Total amt.19,116.00
Benefit % if subscribed annually10%
Benefit amt if subscribed annually1,911.60
Terms & conditionData should be provided by yourself only
Data requirement :Sales, purchase, Credit note, Debit note, etc
Don’t worry

Corseed will help you take you out from all these non-compliance and make your business compliances up to date.

Just connect with us and we will help you to file all the GST return on time.

We are coprseed we are your business growth partner.

BOOK A FREE CONSULTATION

Get help from an experienced legal adviser. Schedule your consultation at a time that works for you and it's absolutely FREE.

Author
Vipan Singh
Vipan is known for his passion for diversity and his work with corpseed. In his spare time, he is involved with numerous charitable activities and considers his greatest achievement to be the fact that he helps Startups and Entrepreneurs to scale up