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GST Return
Filing GST return under the GST regime is crucial as non-compliance and delay will result in penalties and affect your compliance rating and timely refunds.
All registered businesses have to file monthly, quarterly and/or annual GST Returns based on the type of business . In this article, we cover the following topics:
1. What is GST Return?
A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability.
Under GST, a registered dealer has to file GST returns that includes:
Purchases
Sales
Output GST (On sales)
Input tax credit (GST paid on purchases)
To file GST returns, GST compliant sales and purchase invoices are required. You can generate GST compliant invoices for free on ClearTax BillBook.
2. Who has to file GST Returns?
In the GST regime, any regular business has to file three monthly returns and one annual return. This amounts to 37 returns in a year.
The beauty of the system is that one has to manually enter details of one monthly return – GSTR-1. The other two returns – GSTR 2 & 3 will get auto-populated by deriving information from GSTR-1 filed by you and your vendors.
There are separate returns required to be filed by special cases such as composition dealers .
3. What are the types of GST Returns?
Here is a list of all the returns to be filed under the GST Law along with the due dates.
Whatsapp: 70 50 599 189
File Error-Free GST Returns in Minutes
with India’s Easiest GST Software
GST Return
Filing GST return under the GST regime is crucial as non-compliance and delay will result in penalties and affect your compliance rating and timely refunds.
All registered businesses have to file monthly, quarterly and/or annual GST Returns based on the type of business . In this article, we cover the following topics:
- What is GST Return?
- Who has to file GST Returns?
- What are the types of GST Returns?
- Late Fees for not Filing Return on Time
A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability.
Under GST, a registered dealer has to file GST returns that includes:
Purchases
Sales
Output GST (On sales)
Input tax credit (GST paid on purchases)
To file GST returns, GST compliant sales and purchase invoices are required. You can generate GST compliant invoices for free on ClearTax BillBook.
2. Who has to file GST Returns?
In the GST regime, any regular business has to file three monthly returns and one annual return. This amounts to 37 returns in a year.
The beauty of the system is that one has to manually enter details of one monthly return – GSTR-1. The other two returns – GSTR 2 & 3 will get auto-populated by deriving information from GSTR-1 filed by you and your vendors.
There are separate returns required to be filed by special cases such as composition dealers .
3. What are the types of GST Returns?
Here is a list of all the returns to be filed under the GST Law along with the due dates.
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