What is GST and Who Should File It? | Cost of Filing GST | All About GST in India

India’s tax system underwent a major transformation with the introduction of Goods and Services Tax (GST) on July 1, 2017. It simplified the indirect tax structure and brought a unified taxation regime across the country.

Whether you’re a freelancer, small business owner, startup founder, or established enterprise — understanding GST is crucial to staying compliant and avoiding penalties.

📌 What is GST?

GST (Goods and Services Tax) is a unified indirect tax levied on the supply of goods and services in India. It replaced multiple cascading taxes like VAT, Service Tax, and Excise Duty.

GST is based on the principle of “One Nation, One Tax” and is levied at every stage of the supply chain, with a full set-off for taxes paid on inputs.

📚 Types of GST

1. CGST – Central GST, collected by the Central Government
2. SGST – State GST, collected by State Governments
3. IGST – Integrated GST, applicable on inter-state supply
4. UTGST – Union Territory GST, for union territories

✅ Who Should File GST?

You should file for GST if you fall under any of these categories:

Mandatory GST Registration:

• Businesses with aggregate turnover exceeding ₹40 lakhs (₹20 lakhs for special category states)
• Service providers earning more than ₹20 lakhs annually (₹10 lakhs in special states)
• E-commerce sellers
• Inter-state suppliers
• Businesses registered under reverse charge mechanism
• Input Service Distributors (ISD)
• Online service providers to Indian consumers from abroad

Voluntary Registration:

Even if you’re below the threshold, registering for GST helps:

• Avail input tax credit
• Appear credible to vendors and clients
• Expand into e-commerce platforms (like Amazon, Flipkart, etc.)

📆 GST Filing Frequency

Regular Taxpayers:

• GSTR-1: Details of outward supplies – Monthly/Quarterly
• GSTR-3B: Summary return of outward + input – Monthly
• GSTR-9: Annual return

Composition Scheme Taxpayers:

• GSTR-4: Quarterly returns
• CMP-08: Payment form

💸 Cost of Filing GST in India (2025 Rates)

Note: Prices may vary based on complexity and city.

⚠️ Penalties for Non-Compliance

• ₹200/day for late filing (₹100 each CGST & SGST)
• Up to ₹25,000 for incorrect filings
• Suspension or cancellation of GST number
• No input credit allowed during non-compliance

💡 Why File with a Professional CA?

A professional CA ensures:

• Accurate filings
• Compliance with deadlines
• Input tax credit optimization
• Avoidance of penalties
• Assistance during audits or GST notices

🧾 How Expenect Can Help

At Expenect, we simplify GST for startups, freelancers, and businesses of all sizes.

Our CA Experts offer:
✅ GST Registration
✅ Monthly & Quarterly Filing
✅ Compliance Audits
✅ GSTR-9 Filing
✅ Advisory for Tax Savings

📲 Contact us today to ensure smooth, timely, and cost-effective GST compliance.