Timely file your GST Returns and reconcile data mismatches with GSTN.Get In Touch
How to ensure error-free compliance filing with us?
Integrate with multiple systems and ERPs for smoothly transferring data to Cygnet’s e-Invoicing software.
- SAP
- Oracle
- Tally
- Microsoft Dynamics
- Custom ERPs
- Intelligent data mapping and 400+ validations to ensure accurate compliances
- Rectify identified errors for all compliances in a single go
- Allows vendor reconciliation with up to 99% near matches, 2A/2B reconciliation as well as 3-way reconciliation between GST returns, e-Way Bill, and e-Invoicing with dynamic reports
- Reconcile all the invoices under multiple GSTIN for a PAN
- Generate smart GST reports with detailed comparison between GSTR-1 v/s GSTR-3B, v/s GSTR-2 & 2A & 2B summarizing potential exposure for your company to take corrective action
- 25+ MIS and reconciliation reports for the GST returns, e-Invoices, e-Way Bills, reversal of ITC due to non-payment to vendors
- GST Returns supports GSTR 1 for all taxpayers falling under quarterly return filing mandate and GSTR 4 for all composition dealers
- File all kinds of GST returns (GSTR 1, GSTR 2A and 2B, GSTR 3B, GSTR 6, GSTR 7, GSTR 8, GSTR 9 and 9C) at lightning speed
- Send automated notifications to your vendors reminding them of their unfulfilled compliances to protect potential blockage and file accurate GSTR 3B
- Check your vendors compliance health with GST Return Compliance (GRC) score to ensure GST guilt-proof vendors in your ecosystem
- Track your compliance submissions, stay updated with the changing tax laws
- Monitor your compliance notices and avoid government penalties, loss of goodwill and ITC
Why to opt for Cygnet’s platform for GST return compliances?
Manage huge voluminous data in bulk to file GST returns at minimal spend
Integrate with any ERP or accounting software & import data with near to zero errors
Match vendor invoices intelligently and avail maximum ITC
Leverage AI based advanced reconciliation with up to 99% matching of invoices
Gain smarter reconciliation for sales, purchase & tax comparison, or setoff reports for enhanced insights
Ensure audit readiness with GL reconciliation
Quickly answer notices based on data available at a single source on compliance platform
India’s leading brands trust Cygnet Digital for filing their GST Returns
Why us for mitigating all your Indirect Tax Compliance challenges?
0 billion
e-Invoices already generated
250+
successful ERP integrations
100%
business continuity with ITC insights and CFO Dashboards
15%-19%
of India’s e-Invoice volumes are processed via Cygnet’s compliance platform
3-way reco
between e-Way bills and returns leading to minimum notices
24/7
support for uninterrupted services
A glimpse on
What tax professionals using Cygnet’s e-Invoicing has to say?
Frequently Asked Questions
GST return is a document that will contain all the details of your sales,
purchases, tax collected on sales (output tax), and tax paid on purchases (input
tax). Once you file GST returns, you will need to pay the resulting tax
liability (money that you owe the government).
Individuals who have exceeded the prescribed limit of Rs. 40 lakhs (for goods)
and Rs. 20 lakhs (for services) must obtain a GST registration and file GST
returns regularly. In addition, individuals engaged in the inter-state supply of
goods or services must obtain a GST registration and file returns. If any person
obtain the voluntary registration, then he has to file the GST returns.
The frequency with which GST returns are filed depends on the type of taxpayer.
Regular taxpayers must file monthly GST returns, while composition taxpayers
must file quarterly GST returns.
The information required to file a GST return varies depending on the type of
return. However, some of the common information that is required includes:
- The taxpayer’s GSTIN number
- The details of the outward supplies made by the taxpayer
- The details of the inward supplies received by the taxpayer
- The amount of GST collected on outward supplies
- The amount of GST paid on inward supplies
- The amount of input tax credit claimed
There are 13 returns under GST. They are the GSTR-1, GSTR-3B, GSTR-4, GSTR-5,
GSTR-5A, GSTR-6, GSTR-7, GSTR-8, GSTR-9, GSTR-10, GSTR-11, CMP-08, and ITC-04.
However, all returns do not apply to all taxpayers. Taxpayers file returns based
on the type of taxpayer/type of registration obtained.
There are four different types of GST returns:
-
GSTR-1: This return reports the outward supplies of goods and services made
by a business. -
IFF (Optional by taxpayers under the QRMP scheme): This return reports
details of B2B supplies of taxable goods and/or services affected. -
GSTR-2: This return reports the inward supplies of goods and services
received by a business. (The filing of these forms is currently suspended.) -
GSTR-3: This return reconciles the information reported in GSTR-1 and
GSTR-2. (The filing of these forms is currently suspended.) -
GSTR-3B: This is a simplified return that can be filed by composition
taxpayers.
Yes, GST returns can be filed online through the GST portal.
Yes, GST returns can be filed online through the GST portal.
Yes, there are late fees for late filing of GST returns. The fees vary depending
on the type of return and the number of times the return is late.
Input tax credits are credits that can be claimed by taxpayers for the GST paid
on their inputs. Input tax credits can be claimed in the GSTR-3B.
The process of filing a GST return with Cygnet Billing Solution is simple and
straightforward. First, you will need to log in to your Cygnet account or create
an account if you don’t have one. Once you are logged in, you will find the GST
Suvidha option on the left hand side of the screen. Here, you will be able to
enter all of your details related to your GST filing such as sales and
purchases. After that, simply click “File” and your GST return will be filed
electronically with the Government of India. It’s that easy!
Refunds for excess GST paid are processed through the GST portal. The taxpayer
must submit a refund application through the portal, and the refund will be
processed within a specified time period.
Yes, there are some exemptions and special provisions for small businesses and
specific industries in GST return filing. For example, small businesses with a
turnover of less than Rs. 20 lakhs are exempt from taking the GST registration.
But once the registration is taken, then return filing is compulsory.
Yes, there are certain documents and records that need to be maintained to
support the information in a GST return. These documents include invoices, bills
of supply, and delivery challans.
Yes, a professional or tax consultant can assist in filing GST returns.
Professionals can help to ensure that the returns are filed correctly and on
time.
Yes, there are specific requirements and considerations for businesses engaged
in international trade or exports/imports. These businesses must keep certain
records and furnish at the time of return filing.
Some of the common challenges or issues faced while filing GST returns include:
- Understanding the complex GST laws and regulations.
- Gathering the required information and documents.
- Filing the returns on time.
- Avoiding errors in the returns.
- Dealing with penalties, late fees and interest charges.