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Why does GST return compliance matter?

Filing GST returns is essential as non-compliance and delay will end in fines and affect the compliance rating and convenient returns. GST Return Compliance is a report comprising of details of income which a taxpayer is obligated to file with the tax administrative authorities. This is handled by tax authorities to determine the tax obligation. Under GST, a certified dealer must file GST returns that cover: • Purchases • Sales • Output GST (On selling) • Input tax credit (GST gave on shopping) To file GST returns compliance , GST compliant business receipts are needed. Importance of GST returns compliance When you have a low rating, other prospective business partners may not want to enter into a business relationship with you. This may lead to a missed opportunity. For example, a dealer who is considering a purchase from two different vendors will definitely favour the one who has a higher rating as they could incur more expenses in the long run, when dealing with a...

Here is how you can find an Income Tax Consultant in Delhi

The last date to file your tax returns for the Financial Year 2018-2019 was 31 st  March 2019. However, if you haven’t filed your income tax returns, you still have good news. The government has extended the due date till August 31 st , 2019. So, you still have a little time left in your hands to make amends. In order to prepare your papers correct in this short time, you need to find yourself an income tax consultant in Delhi . Here are some ways you can do so. Without wasting any further time, let’s get started! 1. Refer to the internet In such a short time, the most reliable source would be the internet. You can go online to find an income tax consultant in Delhi.    2. Ask from your acquaintances You can seek advice from family and peers, if they have any personal experience with an  income tax consultant .   3. Ask for a Preparer Tax Identification Number Every tax consultant has a unique Preparer Tax Identification Number. This numb...