As a business owner, it is important to be aware of the different types of GST returns that you may have to file. GST returns are filed monthly, quarterly, and annually, depending on the category of business. When filing your return, you will need to provide details of your sales and purchases, as well as the tax collected and paid.

Businesses registered for GST must file monthly, quarterly, or annual returns on the government’s GST portal, depending on their business category. They must include details of sales and purchases, along with any taxes collected or paid.

What is GST return and why it needs to file

Returns filed under the GST regime are called GST returns. These returns contain all the details related to a taxpayer’s purchases, sales, tax paid on purchases, and tax collected on sales. The GST return is required to be filed by the taxpayer in order to pay off their tax liability.

Who should file GST Returns under GST Law?

All businesses registered under the GST system are required to file a return called GST returns as per the GST rules. The type of return to be filed depends on the nature of the business.

Registered businesses involved in the following activities must file a GST return:

• Sales
• Output Goods and services charges on sales
• Purchase
• Input Tax Credit with GST paid on the purchase

How to file return online under GST Law?

Filing your taxes is now easier than ever with the new GST regime. All you have to do is file your tax returns online using the software or apps provided by Goods and Service Tax Network (GSTN). Your details will be automatically populated on each GSTR form. Follow the steps below to file your GST return online:

Step:1 Visit the GST portal (www.gst.gov.in) and login to your account.

Step:2 A GST identification number will be issued to you based on your state code and PAN number. This 15-digit number is unique to your business and will be used for all future transactions.

Step:3 In order to upload your invoices onto the GST portal or software, you will need to have a reference number for each invoice. This can be easily obtained by issuing the invoice.

Step:4 You must file your invoices, outward return, inward return, and cumulative monthly return online. If you make any mistakes, you can correct them and refile the returns.

Step:5 Submit your GSTR-1 form through the information section on the GST Common Portal (GSTN) by the 10th of next month.

Step:6  Detail of outward supplies furnished by the supplier will be made available in online in form GSTR-2A to the recipient on GST protal.