Taxation is one of the most prominent systems in the business from which every business owner is well aware. It is the percentage of money that every business owner has to pay to that government against his sales revenue. Previously, it was difficult because the owner had to pay some amount at every stage of his business, but nowadays he has to pay all in one which is usually called GST. GST is an upgraded form of taxation which includes a small percentage of revenue from all the sectors like income, sales, passive income and many more. If you are running any business and willing to file GST then you can also use several apps like myBook for filing GST return.
How to file GST?
If you are running any business and generating the revenue above 20 lakhs then it is important to firstly get your firm registered under GST. When you register the firm in GST, you will get a GST number which is known as an identity number of your firm. This is the only number that will allow you to collect GST from the recipients for services and good and help in getting return. To register your firm under GST network you can visit their office or visiting their online portal is also beneficial.
Filing nil GST return
No matter your sales or turnover falls under GST regulation or not, you should always file the GST. This helps in showing the government that your sale is below the decided limit so you are not liable to pay the tax. In almost every country the limit is set or decided by the government which says that if the owner is generating the revenue less than the decided limit he is not liable to pay the tax to the government nor he will be entitled to the return.
Check out complete GST Guide
Know all about here on – GST explained.
Get more inform about – GST Accounting Software