In India, GST has been implemented from 1st July 2017. Under the GST regime, nearly 1 crore entities in India have obtained GST registration. Each entity having GST registration are required to file GST returns. GST Return filing can be done via a software or you can use government self service portal.
GST registration is required for all those enterprises which are involved in buying or selling or delivery of services exceeding Rs. 20 lakhs in a year whereas in case of north-eastern and hill states the limit is Rs. 10 lakhs. GST return filing is mandatory for all entities having GST registration, irrespective of business activity or sales or profitability during the return filing period and even a dormant business who has obtained GST registration must file GST returns.
GST return is a document which is required to be filed by the taxpayer with the tax administrative authorities containing details of income. Tax authorities use this document to calculate tax liability.
3. Output GST (on sales).
4. Input Tax Credit (GST paid on purchases).