Overview
Goods & Services Tax (GST) filing involves periodic submission of business turnover, tax collected, and Input Tax Credit (ITC) claimed. FinTax Network simplifies compliance for startups, SMEs and enterprises through automated reconciliation, expert review and on-time submission for all forms: GSTR-1, GSTR-3B, GSTR-9, GSTR-9C, and more.
Types of GST Returns
- GSTR-1: Outward supplies summary filed monthly or quarterly.
- GSTR-3B: Monthly summary of sales, ITC, and tax payable.
- GSTR-4: For composition taxpayers (annual return).
- GSTR-9 / 9C: Annual return and audit reconciliation statement.
- GSTR-2B: Auto-drafted ITC statement for input reconciliation.
- GSTR-7 & 8: For TDS/TCS deductors and e-commerce operators.
Key Benefits of Using FinTax for GST
- Accurate reconciliations with purchase invoices (GSTR-2B / 2A) to maximise eligible ITC.
- Automated invoice matching and easy error resolution for curtailed notices.
- Timely filing (GSTR-1 / GSTR-3B) to avoid interest and penalties.
- e-invoicing setup & integration for larger suppliers.
- Customised MIS & monthly reconciliation reports for management decisions.
- Dedicated manager for proactive compliance reminders and support.
Documents & Data We Need
Sales invoices / credit notes / debit notes (supplier-wise)
Purchase invoices / import bills (for ITC)
E-way bills summary (if applicable)
GSTIN, PAN, and bank details
Opening stock & ledgers (for annual return)
Export documents and refund proofs (if any)
Due Dates & Compliance Timeline
- GSTR-1 (Outward supplies) – Monthly (11th) or Quarterly (for small taxpayers) as applicable.
- GSTR-3B (Summary) – Monthly, typically due by 20th of next month.
- GSTR-4 (Composition) – Quarterly return & annual summary.
- GSTR-9 / GSTR-9C (Annual) – Typically due by 31st Dec of the next financial year (confirm current MCA notifications).
- e-invoicing threshold – Businesses above notified turnover are required to generate e-invoices (live thresholds subject to govt updates).
Our team usually completes reconciliation and filing within 2–4 business days after receiving complete documents; urgent same-day filing is available for select clients.
Why FinTax Network for GST
- Proven compliance processes and an industry-leading 99.7% on-time filing rate.
- Automated tools + CA review — reduces manual errors and audit exposure.
- Specialist support for e-commerce sellers (marketplace reconciliations, TCS/GST interplay).
- Transparent reports and drill-down access to invoices for CFOs and accountants.
GST — Frequently Asked Questions
1. Who must register for GST?
Businesses whose aggregate turnover in a financial year exceeds the threshold specified by the government must register for GST. Specific thresholds depend on the state, activity (services vs goods) and notified categories (e-commerce, casual taxable persons, etc.).
2. What is the difference between Regular & Composition scheme?
Regular taxpayers collect tax on outbound supplies and can claim full Input Tax Credit. Composition taxpayers pay a fixed small percentage on turnover and have a simpler return mechanism but cannot claim ITC; they are intended for small businesses meeting turnover criteria.
3. How do I claim Input Tax Credit (ITC)?
ITC is claimed on goods and services used in your business if proper tax invoices are available, the supplier has filed corresponding returns, and the goods/services are used for business (not personal). Reconciliation with GSTR-2B helps maximize permissible ITC.
4. What is GSTR-2B and why is it important?
GSTR-2B is an auto-generated ITC statement reflecting the supplier’s uploaded invoices and helps the recipient reconcile eligible ITC. It’s a static tax-period-specific statement useful for month-on-month reconciliation.
5. How do e-invoices work and who needs them?
e-Invoicing requires larger suppliers (above the notified turnover threshold) to generate invoices in a prescribed JSON format and get a unique IRN from the Invoice Registration Portal (IRP). Thereafter the IRP returns a signed invoice for B2B transactions, simplifying GST returns and e-way bill generation.
6. What penalties apply for late filing or mismatches?
Penalties can include late fees per day for delayed returns, interest on unpaid tax, and penalties for specific offences. Prompt reconciliation reduces mismatch notices and penalties.
7. How does GST work for e-commerce sellers & marketplaces?
Marketplaces often collect TCS (Tax Collected at Source) and remit to the seller’s GST returns. Sellers must reconcile marketplace settlements, invoices, and TCS records to claim correct ITC and compute net tax payable.
8. Can I file nil returns?
Yes — registered taxpayers must file nil returns for the period if no business activity took place. Regularly filing nil returns avoids non-compliance flags.
9. What is GSTR-9C?
GSTR-9C is a reconciliation statement required for taxpayers whose turnover exceeds the statutory audit threshold. It reconciles annual return figures with audited financial statements.
10. How do input tax credits get rejected?
Common reasons: supplier didn’t file their return, invoice details mismatch (GSTIN, invoice no), ineligible items (personal use), or timing issues. Our reconciliation process flags and helps resolve these quickly.
11. How often should I reconcile purchases & sales?
Monthly reconciliation is recommended to ensure ITC eligibility, avoid mismatches and last-minute rush for GSTR-3B filings.
12. Do I need a GST practitioner or CA for filing?
While small businesses may self-file, expert review from a CA or GST practitioner helps avoid costly errors, ensures optimal ITC claims, and handles audits or notices.
13. Can FinTax handle GST audits and assessments?
Yes. We provide full support during GST audits, assessments, and notice responses — preparing documentation, reconciling books and representing clients.
14. What are common GST mistakes to avoid?
Not reconciling supplier invoices, missing invoice details, incorrect HSN/SAC codes, late filing, and ignoring e-way bill rules are frequent issues. Our checklist prevents these errors.
15. How do I start with FinTax for GST filing?
Contact us via WhatsApp or the form on this page. We’ll send a secure upload link and a document checklist. After review, we perform reconciliation and file the returns as per your schedule.
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