Goods and Services Tax (GST) changed the way India does business. It's a unified indirect tax system, and if you're a registered business, filing your GST returns on time is not just a necessity—it's your legal duty.
Let’s break down the concept of GST return filing online in the most beginner-friendly and complete way possible.
What is GST Return?
A GST return is a document that every GST-registered entity must file with the tax authorities. It includes details of your:
Sales (outward supplies),
Purchases (inward supplies),
Tax collected and paid.
Based on these returns, the government calculates your tax liability or refund.