What is GST Return?
Tax administrative authorities accept a specific document from the taxpayer as per law that is called GST Return. According to the GST law, a taxpayer will be submitting 3 returns monthly and 1 return annually. On the other hand, there are separate returns under composition scheme, aborigine registered as an Input Service Distributor, a being accountable to abstract or aggregate the tax (TDS/TCS).
What are the Types of GST Returns in India?
Frequently Asked Questions:
- Who has to file return?
Ans: Filing return is mandatory for every registered taxpayer. Even-though your transaction is zero, you should file the return.
2. What is the periodicity of the filing return?
Ans: Periodicity depends upon the type of registration. Monthly Return has to be filed by Regular taxpayers, Foreign Non-Residents, Input Service Distributor, Tax Deductors and E-commerce Operators whereas Composition taxpayers will have to file a quarterly return. There is the provision of additional annual return filing.
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