Guidelines to Submit GST Returns Electronically in India!
Every taxpayer registered under the Goods and Services Tax (GST) in India is required to file periodic GST returns to report their sales, purchases, tax collected, and tax paid. These returns are essential for maintaining tax compliance, eligibility for input tax credit, and ensuring transparency.
Step 1: Filing GST Returns Online
To file GST returns online, visit the official portal www.gst.gov.in. Upon entering the portal, fill in the state code and PAN card number.
Step 2: Assignment of a 15-digit Number
Once registered, a unique 15-digit number, known as the GSTIN (GST Identification Number), will be assigned. It's crucial to keep this number safe.
Step 3: Monthly Filing of Inward, Outward, and Cumulative Returns
Inward, outward, and cumulative returns should be filed monthly. Outward supply returns must be filed as per GSTR 1 before the 10th of each month, while inward supplies returns must be filed as per GSTR 2.
Step 4: GSTR-1 and GSTR-2 Return Forms
GSTR-1 and GSTR-2 are interconnected in the GST return process. GSTR-1 focuses on outward supplies, while GSTR-2 concerns static purchases and immutable entries.
Step 5: GSTR-2A and GSTR-2B
GSTR-2 is divided into GSTR-2A and GSTR-2B. GSTR-2A provides information on the outward returns furnished by the supplier, while GSTR-2B concerns the taxpayer's static purchases and immutable entries.
Step 6: Verification and Validation of Returns
After filing returns, they should be verified and validated, including mentioning debit and credit notes. It's essential to check the status of the GST return regularly to monitor pending payments or discrepancies.
Step 7: Offline Filing of GST Returns
The GST returns document can be downloaded from the portal as a Zip file for offline filing. The GST returns document can also be used to file GSTR-1 and GSTR-2 return forms offline.
The GST return process is vital for the government to ascertain tax-paying liabilities in India. By filing GST returns accurately and on time, businesses contribute to maintaining transparency and enabling the efficient collection of indirect taxes under India's unified GST system introduced in 2017.
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