GST Returns

GST returns are periodic reports that businesses submit to the government detailing the Goods and Services Tax they have collected from customers and the GST they have paid on purchases. These returns help ensure accurate tax payments and compliance. Depending on the business size and turnover, filings may be monthly, quarterly, or annually. Properly filing GST returns allows businesses to claim input tax credits, reducing their overall tax liability. In essence, GST returns are a way for businesses to report and reconcile their tax obligations, ensuring transparency and adherence to tax laws.