GST Audit & Return Filing Service

GST Audit and Return Filing ensure GST compliance for businesses. The audit checks the accuracy of declared turnover, taxes, and credits, required for businesses with over ₹5 crore turnover. Return filing involves regularly submitting tax details to the government, ensuring timely payments and avoiding penalties.

GST Audit & Return Filling

FAQ

Stay Compliant, Stay Worry-Free – Expert GST Audit and Return Filing Services!

Proprietorship Firm

Any business registered under the GST Act is required to file GST returns regularly, even if they have no transactions during the period. GST audit services are crucial for businesses with an annual turnover exceeding ₹5 crore, but can also be helpful for smaller businesses to ensure compliance and avoid future complications.

Who Can Benefit:

  • Businesses with complex transactions needing thorough scrutiny
  • Companies with turnover above ₹5 crore requiring mandatory GST audit
  • Entrepreneurs seeking error-free GST return filing to avoid penalties
  • Startups and small businesses looking to streamline their tax process
  • Exporters and importers who deal with international trade under GST
  • Compliance Assurance:
    Ensure that your business is fully compliant with GST regulations, minimizing the risk of penalties or legal issues.

  • Error-Free Returns:
    Professional services help in accurately filing returns, reducing the chance of errors that could lead to fines or additional scrutiny from authorities.

  • Audit Support:
    For businesses requiring mandatory GST audits, expert assistance ensures all records are in order, making the process smooth and hassle-free.

  • Timely Filing:
    Avoid late fees and penalties by ensuring your GST returns are filed on or before the due date.

  • Maximize Input Tax Credit (ITC):
    Professionals help you identify and claim all eligible ITC, reducing your tax liability.

  • Reduce Legal Risk:
    Accurate filing and auditing minimize the chances of facing legal complications related to tax discrepancies.

  • Expert Guidance:
    Get help in understanding complex GST rules and regulations, making sure your business remains compliant and optimized for tax efficiency.

  • GST Registration Certificate

    • Proof of your GST registration
  • GSTIN (Goods and Services Tax Identification Number)

    • Unique identification number issued to each taxpayer
  • Purchase and Sales Invoices

    • All invoices related to your business transactions
  • Input Tax Credit (ITC) Documents

    • Documents supporting claims for Input Tax Credits availed
  • Tax Payment Receipts

    • Proof of tax payments made during the period
  • Previous Year’s Returns

    • Copies of previously filed GST returns for cross-checking
  • Bank Statements and Financial Records

    • Bank statements and relevant financial records for auditing
  • Annual Financial Statements

    • Balance sheets, Profit & Loss statements for the audit period

At Beginquest, we specialize in providing seamless GST audit and return filing services, helping businesses of all sizes stay compliant and avoid unnecessary financial burdens. Here’s how we assist:

  1. Complete Documentation Assistance:
    We help you gather and organize all necessary documents, ensuring nothing is missed in the audit or filing process.

  2. Error-Free Return Filing:
    Our experts prepare and file your GST returns accurately, minimizing the chances of mistakes that could lead to penalties.

  3. Audit Preparation and Support:
    For businesses requiring mandatory audits, we help in preparing financial statements, maintaining proper documentation, and resolving any discrepancies.

  4. Customized Tax Strategies:
    We provide tailored tax-saving strategies based on your business model to maximize your Input Tax Credit and reduce tax liability.

  5. 24/7 Assistance:
    Our team is available to offer support and answer queries whenever needed, ensuring that you are never left in the dark.

  6. Regular Updates:
    We keep you informed about GST filing deadlines and any changes in regulations, so you can remain compliant with the latest tax laws.

Common Questions About GST Audit & Return Filling

What is a GST audit, and who needs it?

A GST audit is the examination of records, returns, and other financial documents to ensure the accuracy of tax filings under the GST law. Businesses with an annual turnover exceeding ₹5 crore are mandated to undergo a GST audit by a certified auditor. This process helps verify that the declared turnover, taxes paid, and input tax credit claims are accurate. Even if your turnover is below ₹5 crore, it is advisable to conduct regular audits to ensure compliance and avoid penalties.

How often do I need to file GST returns?

GST return filing frequency depends on your business type and turnover. Regular taxpayers must file monthly returns (GSTR-1 and GSTR-3B). Businesses under the Composition Scheme must file quarterly returns. Additionally, all taxpayers need to file annual returns (GSTR-9) once a year. Filing returns on time is critical to avoid late fees, penalties, and interest charges. We help manage this process, ensuring that all deadlines are met.

What happens if I miss the deadline for GST return filing?

Missing the GST return filing deadline results in a late fee along with interest on the outstanding tax liability. The late fee is ₹50 per day (₹25 CGST and ₹25 SGST) for normal returns, and ₹20 per day (₹10 CGST and ₹10 SGST) for taxpayers with no tax liability. Additionally, the interest on unpaid tax is calculated at 18% per annum. To avoid these penalties, we ensure your returns are filed on time and remind you of important deadlines.

Can I revise a filed GST return?

No, once a GST return is filed, it cannot be revised. However, if any errors or omissions are found, they can be corrected in the next return for that period. If a mistake is discovered after the return filing deadline, the taxpayer can adjust or amend the details in the subsequent return filing. Our experts review your returns thoroughly before submission to minimize the chances of errors and assist in making corrections if needed.

Scroll to Top
× Click To Whatsapp