How to File GST Return Quickly ?

What is Goods and Services Tax?

GST stands for Goods and Services Tax. It is an indirect tax that is applicable to the goods and services sold domestically for consumption in India. The companies that offer the goods and services are responsible for repaying the money to the government on behalf of the customers and it is paid via GST return. In India, the idea of establishing the GST law was initiated in the year 2000, and it took 17 years for the country to create a comprehensive GST law that became effective on July 1, 2017.

Who is Responsible for Filing of Return?

Individuals who have not opted for the QRMP scheme and business who have annual aggregate sales of at least Rs.5 core must file 25 different GST returns annually. It consists of 2 monthly returns and 1 annual return. On the other hand, the taxpayer who has opted for QRMP program and has an annual turnover of less than Rs. 5 crore are required to file 9 different GST return annually.

Process of Filing the Return?

All taxpayers, from manufacturers and suppliers to retailers and consumers, are required to file GST returns annually. In the digital world, the government is constantly looking for innovation and automation, and has started to offer e-filing or filing GST returns online on the main portal of GST.  The returns can be submitted online using the software and an application launched by the Goods and Services Tax Network (GSTN).

A person can effectively file a GST return by fulfilling the eight-step shown below:

• Go to the GST website and select the “Services” option.
• Select the financial year and return filing deadline from the drop-down box, then click the “returns dashboard” option to go to the following step.
• Select the return form you need to file, then select the option “Prepare Online.”
• Enter the required information, including the amount, and then click the “Submit” option.
• Save your complete information you have to fill while filing your GST return and then click the “Submit” option at the bottom of the page.
• If your GST return filing status has been upgraded to “Submitted,” scroll down and select the “Payment of Tax” option.
• Before paying tax under each head, you may check your cash and credit balance by selecting the “Check Balance” option. Select “Offset Liability” to finish the transaction on your browser window afterward.
• Make sure the box next to the specified statement is checked before selecting the “File Form with DSC” or “File Form with EVC” option, and then pick an authorized signature from the list provided and at last complete the payment for your GST return.