What Do You Need To File A Gst Return?

On 1st April 2020, a new kind of tax payment was introduced in India by the finance department. It is commonly known as GST, which refers to the tax imposed on the goods and services that a person may utilise in the country. It is mandatory for every taxpayer and is applied additionally in various restaurants, marketplaces, hotels, and other services in the country. 

What Is A GST Return?

A kind of tax return that every taxpayer in our country has to pay, GST Return refers to the Goods and Service Tax. There are around 22 kinds of GST Returns present among which 11 are active ones, 3 are suspended, and 8 are considered to be view-only GST Returns. A taxpayer of all types, whether a regular taxpayer such as a businessman or a non-resident taxpayer of India has to pay GST Returns either monthly, quarterly or annually.

Here are some of the things that you may need to file a GST Return along with basic detail on how to do it:

• Invoices:

The first thing you may need to file a GST return in Dwarka is the list of all the invoices for which you are filing a GST. All the invoices then have to be updated to GSTN (Good & Services Tax Network). All the invoices uploaded must have these documents and information:

• Customer GSTIN

• Invoice Number & Date

• Invoice Type

• Place of Supply

• GST Rate

• Amount of IGST, CGST, SGST, applicable, etc.

• Filing The Form From The Site:

Go to the official website of the GST portal, i.e. www.gst.gov.in. Keep your PAN number near you as you will receive a 15 number code that is based on the code of your state and PAN number. Upload all the invoices that you want to file GST for. Wait for all the reference numbers, as against each invoice you upload a separate reference number will be uploaded. Go through all the information that is asked like outward return, inward returns, etc., and fill them accurately. If an error occurs, then don't stress, as it can be rectified. 

• Finding The Correct Type Of GST Return:

There is a variety of GST Returns present among which you must choose the one you are going to go with. They are:

• GSTR-1: This is the GST returns filed by a company or an organisation. It includes all the invoices along with the credit card notes for the tax period.

•  GSTR-2A: It is a kind of GST Return that includes details of everything bought during a month by the recipient. It is a view-only kind of GST Return.

• GSTR-2B: This is also a view-only goods and services return that has been available since August 2020. It is really important as it contains information ITC Data for any period.

There are numerous kinds of GST returns available from GSTR-3B to GSTR-11. So, go through the various options and choose the one which is important for your business regarding good and service tax.