GST Return Filing: Who Needs to File and How GST Return Filing Consultants Can Help
Goods and Services Tax (GST) has revolutionized the tax landscape in India, introducing a streamlined system for tax compliance. However, navigating the intricacies of GST return filing can be challenging for many businesses. Understanding who is required to file GST returns and how GST return filing consultants can assist in this process is crucial for maintaining compliance and avoiding penalties. Who Needs to File GST Returns? GST return filing is mandatory for various categories of taxpayers, including: 1. Regular Taxpayers Any business registered under GST must file returns. This applies to service providers, manufacturers, and traders whose aggregate turnover exceeds the prescribed threshold limit. 2. Composition Scheme Taxpayers Businesses with an annual turnover up to Rs. 1.5 crore for manufacturers and dealers, or Rs. 50 lakh for service providers, can opt for the composition scheme. They file a quarterly statement-cum-chall...