Best Billing Software Kerala
1. What is GST Return? A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability. Under GST , a registered dealer has to file GST returns that include: Purchases Sales Output GST (On sales) Input tax credit (GST paid on purchases) To file GST returns, GST compliant sales and purchase invoices are required. You can generate GST compliant invoices for free on ClearTax BillBook . 2. Who should file GST Returns? In the GST regime, any regular business has to file two monthly returns and one annual return. This amounts to 26 returns in a year. The beauty of the system is that one has to manually enter details of one monthly return – GSTR-1. The other return GSTR 3B will get auto-populated by deriving information from GSTR-1 filed by you and your vendors. There are separate returns re...