GST Return FIling
GST return filing in India is the process of submitting periodic tax returns by registered businesses. It involves reporting sales, purchases, and tax liabilities under GST. Different types of returns like GSTR-1, GSTR-3B, GSTR-2A, and GSTR-9 are filed based on turnover. Returns can be filed monthly, quarterly, or annually. Timely compliance is important to avoid penalties. The process includes logging into the GST portal, entering details, reconciling invoices, and submitting online. Return filing ensures tax compliance, input tax credit claims, and transparency in financial transactions under GST.
Required Documents:
- Sales and purchase invoices: Invoices issued for sales made and invoices received for purchases made during the return filing period.
- Bank statements: Bank statements showing transactions related to sales, purchases, and expenses.
- Input tax credit (ITC) documents: Documents such as tax invoices, debit notes, and credit notes supporting the claim of input tax credit.
- Export and import documents: Documents related to export and import transactions, including shipping bills, bills of entry, and export invoices.
- Payment challans: Challans or proof of payment of tax liabilities, if applicable.
- E-way bills: E-way bills generated for the movement of goods, where applicable.
- Supporting documents: Any other relevant documents supporting the transactions and calculations mentioned in the return.