GST Filing Process Online in Bangalore

GST Filing Process Online in Bangalore


Goods and Services Tax (GST) is a comprehensive indirect tax that will bring all the state-level and central taxes less than. This will simplify the taxation system in India and make it simpler to file returns.

The GST filing process online is quite easy for any business in Bangalore. The new taxation system is designed to reduce the burden on small traders and service providers. It will also eliminate the cascading effect of taxes.

GST registration is compulsory for all entities whose annual turnover exceeds Rs 20 lakh. It is a single tax that will replace various types of taxes such as excise duty, service tax, VAT, and entertainment tax. Moreover, it will bring the benefits of ease of doing business to all parts of the country.

A normal taxpayer will need to file three monthly and one annual return. However, he can opt for NIL return filing if there is no outward supply or refund claims. In case of taxable supplies, he has to upload the invoices on the GST portal and get a 15-digit identification number for each invoice.

Every registered taxpayer will have to keep a record of all the transactions done. This will help him track his tax liability. A normal taxpayer will have to pay 5% GST on all the goods and services that he provides. Besides this, he has to collect 2% GST on all the purchases that he makes from unregistered businesses.

 

Tel:+917299972500

info@filingpoint.com

 

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