Companies that are register under GST have to file the return monthly and annually based on the business. It is essential to deliver the details of the sales or purchases of the goods and services. Enactment of an Income Tax System like GST in India has confirmed that taxpayer services are within range and aligned.
A particular taxpayer filing the GST returns has to file 4 forms for filing the GST returns such as the returns for the supplies, returns for the purchases made, monthly returns, and annual returns.
Moreover, GST return filing in India is compulsory for all the entities that have a correct GST registration irrespective of the business activity or the sales or profitability during the time of filing the returns. Thus, even a stagnant business that has a valid GST registration must file the GST return.
GST return is a document that contains the details of all the income or expenses that a taxpayer is needed to file with the tax administrative powers.