How to File GST Returns Online?

Why is GST return important?

- Regardless of the type of business, sales, or profitability during the return filing period, all Registered Dealers are obliged to file GST returns. - Even an inactive business that has gained GST registration is required to file the GST return under the GST Regime. Each GST Return Form is designed to guarantee full disclosure of all transactions between buyers and sellers.

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Who should file a GST return?

- Any normal firm must file two monthly returns and one yearly return under the GST regime. - This equates to 26 returns every year. For quarterly GSTR-1 registrants, the number of GST (check the link: https://services.gst.gov.in/services/login) filings varies. - Separate GST returns must be submitted in some circumstances, such as for example, composition dealers who must file GST five times a year.

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The filing procedure must be determined based on the nature of the business. A GST return must be filed by a registered dealer who engages in the following activities: – Sales – Purchase – Goods and services tax    (GST) (on Sales) – Input Tax Credit for GST    paid on the purchase.

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How to File GST returns?

Step 1: Go to the GST portal. Step 2: A 15-digit number will be assigned to you based on your state code and PAN number Step 3: You must upload each invoice that you have. A reference number will be assigned to each invoice Step 4: The next step is to file the external and inward returns, as well as the cumulative monthly returns. All mistakes are correctable Step 5: On or before the 10th of the month, file the GSTR-1 outbound supply reports utilizing the information area of the GST Common Portal

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Step 6: The supplier’s outbound supply will be obtained from the GSTR-2A Step 7: Following this, the recipient must check the information of the outgoing supply and enter credit or debit note details Step 8: Fill out the GSTR-2 form with information on the inbound supplies of goods and services Step 9: The supplier can accept or reject the information given by the inward supply as shown on the GSTR-1A.

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