GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
GST is one indirect tax for the entire country.
Documents Required For GST Registration
- Name of enterprise/shop
- Passport Size Photograph
- PAN Card
- Aadhar Card / Voter ID
- Bank Account Statement / Passbook First Page / Cheque
- Rent Agreement / Municipal Receipt
- Electricity Bill – Self / Owner
- Valid Email-ID For OTP
- Mobile Number For OTP
GST Return Filling
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.
Why 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.
Documents Required For GST Return Filling
- USER ID
- Monthly Sales Ledger / Sales Bill or Invoices
- Monthly Purchase Ledger / Purchase Bill or Invoices