GST Payments/ Returns

GST return is a document that will contain all the details of your sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). Once you file GST returns, you will need to pay the resulting tax liability (money that you owe the government).

Advantages

  • GST eliminates the cascading effect of tax.
  • Higher threshold for registration
  • Composition scheme for small businesses
  • Simple and easy online procedure.
  • The number of compliances is lesser.
  • Defined treatment for E-commerce operators.
  • Improved efficiency of logistics

Unorganized sector is regulated under GST