GST Taxation and Filings

GST Taxation and Filings

Undoubtedly, GST has bought various non-tax payers into the taxations and the GST filings bracket. Yet, there are some genuine sectors and individuals who have been severely impacted by the GST commands and the orders that have been passed all across the nation. If you are looking out to file and pile up all your GST taxations that will give an in-depth idea about the whole GST process.

What is GST Taxation?

There are some factors and the considerations that you should know when you fill up the GST taxation forms either offline or online. Sometimes, some of these demands are monthly, while some are quarterly and yearly. Generally, taxes are paid yearly, but some organizations prefer to file the GST taxation even monthly. So what is GST?

GST is the most enormous indirect tax form that is being practiced since July 1st, 2017. It is applicable on various goods and services. Previously, there were various taxes that had to be crossed across, such as Octroi, Service Tax, VAT, Central Excise Law, and Entry Tax.

Benefits of GST taxation

Certainly, there have been various benefits of the implementation of GST taxations and the returns.

  • No other taxes

If you are a business owner, then you don’t have to worry about other taxes that are generally implied on the transport, manufacturing, and distribution of Goods and services. Now, all other taxes have been removed after the implementation of GST, and you have to pay just GST either online or offline.

  • Money Saver

GST has also helped in saving lots and lots of money. Previously, due to a variety of taxes the prices of goods and services were high and were unaffordable and a struggling course for the common man. After the GST integration the prices are reduced because, there is only one tax on goods and services.

  • Business easiness

Of course, now there won’t be any kind of unhealthy competition between the states of India when transporting the goods and services. As per the goods and services charges, GST has to be implied accordingly.

  • Easy Taxation and Filing

You don’t have to keep scrolling the taxation website. Now the GST taxation and the filings have become a lot easier with the technology. Also, there are many agencies who help you to file your GST. You can file once in two months and as annual returns. You will also find many GST software and applications that will help you to file GST of your business.

  • Increase in Employment

How? Yes, after the implementation of GST, the price of a product has been decreased. This reduction in product prices has lead paths to increase in demand. Of course, now when the demand gets increased the supply has to be more. Now, when the supply needs to be met with the demand- the organizations and the factories have to get more human resources.

  • Increase in Revenue and GDP

When the demand has to grow due to reduced product prices, the production has to be increased. When the production increases, it will ultimately increase the Gross Domestic Product as well. Of course, there is an increase in revenue as well. GST has replaced almost 16 to 17 indirect taxes in the country. Now, this will reduce the product price and along with the increase in sales. When the sales increase the tax revenue would be increased as well.

Should I file GST returns or the Taxation?

When it comes to a business owner or the Goods services taxpayers, then that business owner or the taxpayer with regards to goods and services has to file the GST returns. If you are in the scope of the statute of Goods and Services Tax, then GST taxation and filing is for you. You can ultimately check if you are in the GST bracket, with your accountant or your company Chartered Accountant. Also, there are various types of GST, you can confirm your respective type with your accountant or the Chartered accountant certainly.

How to file GST returns?

Everyone, including the business owners, suppliers, distributors, dealers, and consumers have to file their tax returns every year with the GST department as per the GST laws. You can file your GST either by online, using various GST software and applications. If you have a company, then you can simply contact your accountant or the certified Chartered Accountant to file the GST on behalf of your company.

  • To file GST online, you will have to visit the government’s GST portal.
  • You will be given a 15 digit ID, make sure to upload all the invoices and the slips.
  • Later, you will have to keep a check on the inward and the outward and make corrections if any.
  • The outward supply has to be filed under the GSTR-1, and before the 10th date of the month.
  • Then you need to follow for further instructions, leading you to the GSTR-2.
  • Remember, there are also penalties if you file GST late.


Hence, now you know almost every detail about the GST filings and the GST taxation. Make sure that you are filing your GST timely. Filing GST on time will help the country grow and develop ultimately and for sure.

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