Under India’s Goods and Services Tax (GST) norm, all registered taxpayers must file GST annual returns. It is a thorough return that includes information on all transactions throughout the financial year, including inbound and outbound supply, input tax credits, and output tax liabilities.
For taxpayers, the GST yearly return is a crucial document. It assists the government in monitoring GST revenue and ensuring that taxpayers adhere to GST regulations. Due to penalties for inaccurate or late filing, it is also crucial for taxpayers to submit the GST annual return accurately and on time.