GST Return filing - Overview
GST Return Filing is a process that has to be done by each individual/entity who already have their GST registration. File GST returns online without fail as it is a necessary permission/ document needed for every business as per the GST Act/regime to handle their supply and transactions. Steps to file GST in India are controlled by tax authorities to evaluate the tax liability.
GST Return Filing is a basic movement that functions as an association between the government and the taxpayer. While introducing the return, the taxpayer needs to give information, for example, payment of taxes, exposure of tax liability, the details of the enterprise activity and other learning as required by the government.
Benefits of GST Return Filing
Simple and common form for all taxes
Abolishes the Cascading Effect
Higher Threshold Benefits
Startup Benefits
Offers Higher Compliance rating
Quick Supply of Goods
Regulations and Accountability
Documents Required For Registration
- List of Invoices (B2B Services, B2C Services).
- Customer GSTIN
- Type of Invoice and Invoice number
- place of supply
- GST Rate and taxable value
- Amount of CGST, SGST, IGST and GST Cess applicable
- Consolidated intra-state and inter-state sales
- HSN wise summary details
- Debit and Credit Note
Process To Register
- Collecting the Documents and Invoices.
- Preparation for Online GST Return Filing
- Major Pre-compliances before Filing the GST Return.
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