Stay Ahead with Timely GST Compliance: Key Due Dates for 20th November 2024

As a business owner, staying compliant with GST regulations is crucial to avoid penalties and maintain smooth operations. With the due date of 20th November 2024 fast approaching, it's time to ensure you have all your filings in order. This blog outlines the essential requirements for this deadline, particularly focusing on OIDAR services and businesses with a turnover exceeding ₹5 crore in the last financial year.

Understanding GST Compliance for 20th November 2024

1. Filing for OIDAR Services Providers

Businesses offering Online Information and Database Access or Retrieval Services (OIDAR) must file the following:

  • A summary of outward taxable supplies 📊.
  • Details of tax payable 💰.

This filing ensures transparency in your business operations and compliance with GST laws.

2. Filing for Businesses with Turnover Exceeding ₹5 Crore

For businesses with a turnover of over ₹5 crore in the previous financial year or those who have not opted for the Quarterly Return Monthly Payment (QRMP) scheme, here’s what you need to file:

  • A comprehensive summary of outward supplies 🛒.
  • Input Tax Credit (ITC) claimed during the quarter ✅.
  • Details of the net tax payable for the period 📑.

This filing covers the October to December 2024 quarter, ensuring accurate tax reporting and helping businesses avoid penalties.


Why is Timely Filing Important?

Failing to meet GST deadlines can result in hefty fines, legal complications, and a disrupted cash flow. On-time compliance helps:

  • Maintain a clean GST history 📚.
  • Build trust with customers and partners 🤝.
  • Avoid unnecessary penalties and interest ⚖️.

How Power of Factorial Business Solutions Can Help

At Power of Factorial, we specialize in providing comprehensive GST compliance services tailored to your business needs. Whether you are an OIDAR service provider or a large-scale business, our experts ensure timely and accurate filings every time.

📞 Contact us now to avoid last-minute hassles!

FAQs on GST Filing for November 2024

Q1. What happens if I miss the GST filing deadline?
Missing the deadline can result in late fees, interest on the unpaid tax amount, and potential legal scrutiny.

Q2. What is the QRMP scheme?
The Quarterly Return Monthly Payment (QRMP) scheme allows taxpayers to file GST returns quarterly but pay taxes monthly.

Q3. Can I file GST returns without professional help?
While you can file returns independently, hiring a professional ensures accuracy and saves time.

Stay Ahead with Power of Factorial!

Don’t let deadlines catch you off guard. Ensure your business remains compliant by partnering with Power of Factorial Business Solutions, your trusted GST consultant in Bangalore.

#GSTCompliance #OIDARServices #GSTFiling #TurnoverTax #ITC #QRMP #GSTReturnFiling #BusinessCompliance #TaxExperts #GSTDeadline #PowerOfFactorial #TaxConsultantBangalore #OutwardSupplies #StayCompliant

👉 Timely compliance. Hassle-free experience. Partner with Power of Factorial! 


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