What do you know about GST Returns

Question

Accepted Answer

GST Returns are periodic statements that businesses registered under GST law need to file to the tax authorities.

GST Returns are filed by businesses to report their sales, purchases, and tax liability to the government.
They need to be filed online through the GST portal within the specified due dates.
There are different types of GST Returns such as GSTR-1, GSTR-3B, GSTR-4, etc., each serving a specific purpose.
Late filing of GST Returns can attract penalties and interest charges.
GST Returns help in ensuring compliance with tax laws and facilitate the smooth flow of input tax credit.
For example, GSTR-1 is filed to report outward supplies of goods and services made by the taxpayer.

Accepted Answer

Gstr-1 for Sales and gstr-3B for sales, purchase and payment of gst

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