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System generated returns under GST to accelerate digitization; more GST reforms may boost taxpayer confidence

System generated returns under GST to accelerate digitization; more GST reforms may boost taxpayer confidence

Majorly, at present two returns are required to be filed by every registered taxpayer. GSTR-1 and GSTR-3B. GSTR-1 is a sales return that is required to be filed by every GST registered person. Taxpayers are required to enter details relevant to their sales & outward supplies in the said return. It is a monthly or quarterly return filed by taxpayers to disclose details of their outward supplies for the month – along with their tax liability. GSTR-3B is a monthly self-declaration to be filed by a registered GST dealer. It is a simplified return to declare summary of GST liabilities for a tax period

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