Why GST Tax returns filing in India?
Click here to know GST rate of your product or service
Let us discuss here about the purpose of filing GST returns in India.
Mode for transfer of information to tax administration under GST tax system
One of the main purpose of GST returns is that tax payer can use this tax paying system as one of the major modes of transfer of information to tax administration about their firm and daily business activities.
Compliance verification program of tax administration
A Tax payer fulfils his compliance verifications program of tax administration by being a part of nation’s tax administration system.
Finalization of the tax liabilities of the taxpayer within stipulated period of limitation; to declare tax liability for a given period
The obligation to government on tax liability of a tax payer is met within the prescribed time limit. A tax payer also declares his tax liability for a given period on GST tax system.
Providing necessary inputs for taking policy decision under GST system
A tax payer participates indirectly in taking economic policy of the nation by providing inputs to government.
Management of audit and anti-evasion programs of tax administration.
A tax payer manages his business activities by following the tax laws, thereby management of audit and anti-evasion programs of tax administration.
This posts explains about the purpose of GST returns filing in India. If you like to add more information about purpose of GST tax payment and returns filing in India, share below your thoughts:
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