Question 1

Who needs to register for GST in India?

Accepted Answer

Any business with aggregate turnover exceeding ₹40 lakh (₹20 lakh for services) must register for GST. Businesses involved in inter-state supply, e-commerce, or those receiving reverse charge supplies must register regardless of turnover.

Question 2

What is the penalty for late GST return filing?

Accepted Answer

Late filing attracts a penalty of ₹50/day (₹20/day for nil returns), capped at ₹10,000 per return. Interest at 18% p.a. is charged on the tax liability. KOSHVI sets up reminders and files on time to avoid these penalties.

Question 3

Can I file ITR myself, or do I need a CA?

Accepted Answer

Simple returns (ITR-1 for salaried individuals with one house property) can be filed independently. However, for business income, capital gains, foreign income, or multiple sources, professional guidance prevents errors and missed deductions. KOSHVI handles all categories.

Question 4

What happens if I miss the ITR deadline?

Accepted Answer

You can file a belated return by 31 December of the assessment year with a late fee of ₹5,000 (₹1,000 if income is below ₹5 lakh). After that, you need to file a condonation request with the Income Tax Department.

Question 5

Do you handle GST compliance for e-commerce sellers?

Accepted Answer

Yes. E-commerce sellers on Amazon, Flipkart, Meesho, etc. have specific GST obligations including TCS (Tax Collected at Source) reconciliation. We handle registration, monthly filing, and annual reconciliation for online sellers.

GST. ITR. ROC.
Done Right. On Time.

Tax & Compliance Services

GST Registration

GST Return Filing

Income Tax Return (ITR)

ROC & MCA Compliance

Frequently Asked Questions

Stay Compliant. Stay Penalty-Free.

GST. ITR. ROC.Done Right. On Time.