Gst Returns

 

What is GST Return?

•       A GST return is a document containing details of all income/sales and/or expense/purchase which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate net tax liability.

•       Under GST, a registered dealer has to file GST returns that broadly include:

1.        Purchase
2.        Sales
3.       Output GST (On sales)
4.       Input tax credit (GST paid on purchases)

Who need to file GST Returns?

• Every Person Registered under Section 22 or Section 24 have to filed GST returns irrespective of Turnover and whether business is active or not.

• GST Returns are to be filed till the cancellation of GST registration