Gst, Gst Return, gst returns
What is a GST Return?
All you need to know
GST return filing is completely an online process in India.It is very easy and quick. However, it is necessary that returns are filedcorrectly and error-free to ensure that GST credit can be passed on to the nextstage. All you need is GST website login credentials to get started. Once youare registered, GST return filing is mandatory. Non-filing of GST returns entailheavy penalties.
All registered persons under GST are required to filevarious returns. Main returns to be filed are GSTR-3B (which is a monthlysummary) and GSTR 1 (details of outward supplies). GSTR 3B is to be filed everymonth by 20th. GSTR 1 is to be filed on a monthly or quarterly basis, dependingon the turnover. It is to be filed on 10th of every month or quarter, as thecase may be. Finally, an annual GSTreturn GSTR 9 must be filed by all GST registered entities on/before the 31stof December. GSTR 4 is to be filed if you have opted for composition scheme.The registered entities will be required to file GST returns even if the entityhas not done any business during any period.
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