GST RETURN FILING
Every registered business, depending on its type. In simple terms, a return is a document that includes all the details of your income/sales and expenses/purchases. Every GSTIN holder is required to file this return with the tax department.
TYPES OF GST RETURNS
R-1: This return is used to report details of all sales transactions, including both B2B (business-to-business) and B2C (business-to-customer) sales.
R-2A: This return shows all the inward supplies of goods and services — basically, everything your business has purchased from other registered suppliers.
R-3B: This is a summary return that contains the overall details of your output tax (sales) and input tax (purchases) to calculate your net tax liability.
CMP-08: This is a special statement-cum-challan used by composition dealers to declare and pay their self-assessed tax for a particular quarter.
Benefits of GST Return filing
- Seamless flow of ITC
- Simple and common form for all taxes
- Avoid penalty and interest
- Score a higher compliance rating
- Regulations and accountability
Information required for filing a return:
We’ll need the details of your sales and purchases to file your return. Once it’s done for the first time, our team will make sure you get timely reminders for every filing date so you never miss a deadline or pay unnecessary penalties.
GST Return Time Duration
Within 24 hours