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GST
Managing business adhering GST
GST(Goods and Service Tax) is applied on the items purchased or sold. Depending on the
geographical locations of buyer and seller the CGST OR SGST are applied. Any tax liability or
refund is very crucial for the business. A GST report summarizes payables and receivables.
Amongst various GST categorizations comes GSTR1 and GSTR-3B, which is taken care of by the
SaleMatrix.
Depending on business volume and turnover filing, GST varies. GSTR1 is filed either every three months or monthly. It is simply a sales return whereas GSTR 3B is the return of tax payments. This return is the sales and the purchase return. Both inward and outward.
Depending on business volume and turnover filing, GST varies. GSTR1 is filed either every three months or monthly. It is simply a sales return whereas GSTR 3B is the return of tax payments. This return is the sales and the purchase return. Both inward and outward.
GSTR1 and GSTR-3B
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GSTR 1
All the suppliers file the GSTR1 tax return. It contains the details of sales of taxable goods. It is required to be paid monthly or quarterly(every 3 months) depending on the business turnover.
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GSTR-3B
GSTR 3B is for the taxpayers registered in GST. Irrespective of monthly transaction even being nil, GSTR 3B should be registered.