GST Filing Process Online in Bangalore

GST Filing Process Online in Bangalore

The GST filing process online in Bangalore has become convenient for the taxpayers. It helps the small businesses to manage their compliance by a simple online portal. This also reduces the burden of having to run from pillar to post to get multiple registrations like VAT, Excise and Service tax. Moreover, with GST, one can file their return for all the three taxes in a single go which is another boon for the small business owners.

A few changes have been made in the GST return forms. GSTR-2 is to be filed monthly and specifies the details of the inward supply that is received by the business. It contains details of invoices, credit or debit notes, receipts etc. It is to be filed by the 20th of every month. Similarly, GSTR-3B is to be filed quarterly and contains all the taxes collected by the business. GSTR-5A is to be filled by the non-residents who provide online information or database access or retrieval services and contains the details of all the supplies for which credit has been received. Lastly, GST deductors are required to file a return in form GST RFD-11 which includes the details of taxes deducted at source as well as claims for refund.

Anyone who sells goods and services or possesses or uses any goods for a commercial purpose is liable to registerfor GST. This has streamlined the taxation structure in India and brought transparency. It has also unified the Indian economy and enhanced the ease of doing business. Besides, it allows all the entities to claim input tax credits and collect GST from customers. This is making the whole supply chain accountable and bringing in more accountability.

 


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