GST Annual Return Filing is a yearly process where businesses registered under the Goods and Services Tax (GST) have to file their tax returns to the government.
Regular taxpayers registered under GST
Input Service Distributors (ISDs)
Non-Resident taxpayers
E-commerce operators
Casual taxable persons
Audited financial statements
GSTR-9 Form
Input Tax Credit (ITC) registrer
Tax payment challans
Annual accounts and audit report
Transparency in business operations
Eligibility for Input Tax Credit (ITC)
Help in Better Business decision-making
Compliance with legal requirements
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GST Annual Return Filing is a yearly process where businesses registered under the Goods and Services Tax (GST) have to file their tax returns to the government.
GST Annual Return Filing is required to assess the compliance of businesses with the GST laws, to report their annual turnover, and to pay the taxes owed to the government.
The due date for filing GST Annual Return is usually December 31st of each year.
Not filing GST Annual Return can lead to penalties, interest, and even legal action. It can also result in a negative impact on the credit rating of the business.
The format of GST Annual Return is specified by the GST law and the Indian government and must be filed through the GST portal.
The details required to be included in the GST Annual Return include the total turnover of the business, the GST payable, and the GST paid, among others.
The common mistakes made during GST Annual Return Filing include incorrect calculations, incorrect details, and incorrect reporting of data.
Yes, GST Annual Return can be revised after filing, but only within a specified time frame.
No, GST Annual Return can only be filed for one financial year at a time.
Yes, a CA or a tax consultant can file GST Annual Return on behalf of a business with their prior authorization.
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