All registered businesses must submit returns for the Goods and Services Tax (GST). Filing GST returns a significant activity that serves as a link between the taxpayer and the government.

When submitting their tax returns, each taxpayer must provide some pertinent information. The details of the business, sales and purchases, declaration of tax liability, tax payment, and any other information required by the government may be included in this data. The authorized return must be filed in a series of steps. In addition, you must accurately submit the required documents, or your application will be rejected.

How Does GST Return work?

A GST return is typically a document or form that every taxpayer with a GSTIN submits to the taxing authorities. A registered dealer is required to apply for returns under the GST, which broadly include the following:

• GST (on sales)
• Input tax credit (GST paid on purchases)
• Purchases
• Sales
• Output GST (on sales)

You don’t need to file your returns, as the tax consultants at Multi Management Services can do the work for you. 

Who Must File Goods and Services Tax Returns?

You can file returns in India if you fall into any of the following categories:

Every business that is subject to taxation under the Goods and Services Act of 2017 and is registered for GST;

Based on the nature of their business, all GST registration holders who are taxable under the GST Act of 2017 are required to file such returns.

Every company with a revenue that is greater than Rs. 40 lakhs;

A NIL return must be filed with the authority of an entity that has not made any transactions for a certain period.

A business with a revenue of more than Rs. 1.5 crore must submit a return each month.

A registered person subject to the GST regime must submit annual and three-month returns.

Documents Needed to File a Goods and Services Tax Return –

If you avoid having your Goods and Services Tax return application rejected, you must submit the following documents to the appropriate authority:

• Customer GSTIN
• Type of Invoice
• Place of Supply
• Invoice Number
• GST Rate
• Taxable Value
• List of Invoices (B2B Services, B2C Services)
• Amount of SGST, CGST, IGST, and GST Cess
• HSN-wise summary information
• Consolidated sales between states and within states.
• A list of the necessary documents, including debit and credit notes.

The department of Goods and Services Tax requires each manufacturer, dealer, consumer, and supplier to submit annual GST returns. The new GST regime mandates that tax returns be filed electronically and automatically. Here are Multi Management Services that complete the work on PAN India basis and provide the best assistance to taxpayers.