What is GST Return? Who Should File, Types of GST Returns?

What is GST Return Form?

GST Return Form is a document containing details of all purchases, sales, output GST (on sales) and input tax credit (GST paid on purchases) to calculate an assesses GST liability for a particular tax period. Currently GST returns can be filed either on monthly, quarterly or annually depending on various applicable factors.

Who should file GST Return?

All business dealers and owners who have registered under the GST system are required to file their GST returns using applicable forms either online or offline.

Generally, a regular business has to file 2 monthly returns (GSTR-1 & GSTR-3B) and 1 annual return (GSTR-9), thereby making a total of 25 GST returns in a year.

 

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

• Purchases
• Sales
• Output GST (On sales)
• Input tax credit (GST paid on purchases)

To file GST returns or for GST filing, check out  website that allows import of data from various ERP systems such as Tally, Busy, custom excel, to name a few. Moreover, there is option to use desktop app for Tally users to directly upload data and filing physical paper submissions is GST filing.