Online GST Returns 2023 for small enterprises

Online GST Returns 2023

MSMEs can file Online GST Returns 2023 monthly, quarterly, or annually. All firms registered under the Goods and Services Tax (GST), including those with nil returns, must file Goods and Services Tax (GST) returns in order to declare the income obtained through business activities. Information on sales, purchases, tax collected on sales, and tax paid on purchases is included in the GST return. This information is used to determine how much tax the corporation must pay to the government.

Depending on the type of business, monthly, quarterly, or annual returns must be filed by GST-registered enterprises. Two monthly filings (GSTR-1 and GSTR-3B) and one yearly return (GSTR-1) must be filed by businesses having a total annual revenue of more than Rs 5 crore (GSTR-9). For those with a turnover under Rs 5 crore, quarterly filing is an option.

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