Chartered Accountants (CAs) or tax professionals in India typically charge between ₹500 and ₹10,000+ per month for filing GST returns, with average costs often ranging from ₹2,000 to ₹15,000 per year. Costs vary significantly based on business turnover, invoice volume, and complexity of transactions, with NIL return filing costing much less.
Monthly and quarterly reporting periods
If your reporting period is monthly or quarterly, your filing and payment deadline is 1 month after the end of the reporting period.
In conclusion, a GST Chartered Accountant (CA) can provide businesses with various services related to GST compliance. These services can include GST registration, return filing, audit, advisory services, and compliance management.
GST Return Filing by Accountants is available at ₹998 per month, covering GSTR-1 and GSTR-3B filings. Expert accountants manage return filing using LEDGERS GST software to ensure smooth and hassle-free compliance.
It depends on the type of GST registration and turnover of the taxpayer. Taxpayers with a turnover of less than Rs. 5 crore can opt to file GST return on a quarterly basis, while taxpayers with a turnover of more than Rs. 5 crore have to file GST returns on a monthly basis.
GST Return Fees: Rs. 500 to Rs. 1,000 per month for online filing via the GST portal. Professional Services: Rs.
On average, CAs may charge anywhere between Rs. 2,000 to Rs. 15,000 per year for filing GST returns.
No, a Chartered Accountant (CA) is not required to submit a monthly Goods and Services Tax (GST) return in India. The GST return filing procedure is made to be simple to use and enables taxpayers to submit their returns on their own.
Whether it is GST on CA services or legal services, the tax rate is the same for all at 18%. The rate is applicable to services offered by professionals like consultants, lawyers, architects, and engineers, among other specialised service providers.
Annual GST/HST Filers (Individuals with December 31 fiscal year-ends) For sole proprietors who are annual GST/HST filers and have a December 31 year-end, the deadline for filing your GST/HST return is June 15. If you owe GST/HST, the balance owed is April 30.
The default Accountancy Fee expense category in Class is set to 'Non-Creditable Acquisition', which means GST cannot be claimed on this expense type.
The period you choose is known as your taxable period or filing frequency. You can choose to file your GST returns monthly, two-monthly or six-monthly. If you don't choose, two-monthly is the default option.
Here are some of the primary and most common errors made by enterprises, and this is how you can fix them as well.
The due date to file Form GSTR-1 for a given tax period is 11th day of the succeeding month in case of taxpayers filing it monthly and 13th day of month succeeding the end of every quarter in case of taxpayers filing quarterly or such other dates as may be extended by Government through notification.
You can file the GST return online as follows.
Consider consulting a CPA or other tax professional before accepting an NIL contract to understand state filing impacts and to help you meet state filing requirements.
The average cost of tax preparation by a Certified Public Accountant (CPA) in the U.S. typically ranges from $200–$500 for individual returns and $1,000–$5,000 for small business or corporate returns. Costs depend on the complexity of your taxes, the number of forms required, and your location.
Yes, a non-Chartered Accountant can become a GST practitioner. The GST practitioner programme is open to various professionals such as advocates, cost accountants, company secretaries, and retired government officers. You must pass the GST practitioner exam conducted by the GST authority.
Monthly returns are filed by businesses with an annual turnover greater than Rs. 5 crores in the previous financial year.
The calendar quarters are the three-month periods ending March 31, June 30, September 30 and December 31. If your reporting period is monthly or quarterly, you have to file your GST return and remit any amount owing no later than one month after the end of the reporting period.
Therefore, upon non –filing of GST returns or missing out the GST due dates, the GST law prescribes a general penalty. The maximum penalty that may be imposed is Rs. 5,000. The taxpayer will be required to pay interest on late payment of GST at a rate of 18% annually in addition to the late payment penalty.