A return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability.
What is GST filing?
Every GST Registration has to file returns for sale and pay tax accordingly. The return of outward supply is termed as GSTR1 and filed every month/quarter according to the turnover of the tax payer. GSTR3B is the summary return where in the tax has to be paid. Annual return is also filed by each tax payer in the form GSTR 9A and GSTR9A. Tax payer having turnover higher than 2 crores have to mandatorily get the GST Audit done as per applicable regulations. The penalty for non filing of GST Return is Rs. 50 per day for 3B. R1 penalty is not prescribed as yet.