The Goods and Services Tax (GST) has revolutionized the way businesses in India manage their taxes. The introduction of GST has made it mandatory for every registered business to file regular GST returns. However, many business owners are unsure whether they can file GST returns without the assistance of a Chartered Accountant (CA). In this blog post, we will explore whether you can file GST returns without a CA and the advantages of doing so.
To begin with, it is important to note that filing GST returns without the help of a CA is completely legal. The GST portal has been designed in such a way that even a person with basic knowledge of taxation can easily file their GST returns. In fact, the government has made it mandatory for businesses with an annual turnover of up to Rs. 5 crore to file their returns on a quarterly basis instead of monthly. This has made the process of filing GST returns even simpler and less time-consuming for small business owners.
One of the biggest advantages of filing GST returns without the help of a CA is cost-saving. Hiring a CA to file your GST returns can be expensive, especially for small businesses. By filing your returns on your own, you can save a significant amount of money that can be reinvested in your business.
Filing GST returns on your own also gives you greater control over your finances. When you file your returns, you are required to review your sales and purchase invoices, which can help you identify discrepancies and errors. This level of involvement in your financial affairs can help you make informed decisions about your business's future.
In conclusion, filing GST returns without the assistance of a CA is not only legal but also has several advantages. It is cost-effective, gives you greater control over your finances, and helps you make informed decisions about your business's future. However, if you are unsure about the process or find it too complicated, it is always advisable to seek the help of a professional.