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A GST return is a document that includes information about every income/sales and/or expense/purchase that a taxpayer (each GSTIN) is required to file with the tax administration authorities. Tax authorities use this to determine a taxpayer's net tax liability. A registered dealer is required to file GST returns covering the following categories: purchases, sales, output GST (on sales), and input tax credit (GST paid on purchases)
Businesses registered for GST are required to file returns on a monthly, quarterly, or annual basis, depending on the type of business, via the Government of India's GST portal. They must submit information on their sales and purchases of products and services, as well as the tax received and paid.
By implementing a comprehensive income tax system, such as GST, in India, taxpayer services like registration, returns, and compliance will become more transparent and straightforward. Individual taxpayers will file their GST returns using four different forms: the return for supply, the return for purchases, the monthly return, and the yearly return. Small taxpayers who have chosen a composition plan will be required to file quarterly returns. All returns will be filed electronically.