Every Registered Taxable person has to file electronically with the Tax authorities, the details of outward supplies of goods or services or both in Form GSTR-1, on or before the 10th day of month, succeeding the Tax period If a supplier exceeds the maximum threshold limit, then he has to first get himself registered under GST.
GST means goods and service tax, Goods and Service Tax is considerable indirect tax revolutionize of India, urgent need of Goods and Service Tax for avoiding inconvenience in the tax system of Country. Incorporation of heterogeneous Central and State taxes into a single tax would help alleviate the double taxation, descend, multiplicity of taxes, classification issues, taxable events, and etc, and leading to a common national market. Value Added Tax rates and regulations differ from state to state. On the other hand, GST brings in a uniform tax system across all the states. On 29 March 2017 Goods and Service tax act passed in the parliament, this came in to effect on 1st July 2017.
The Goods and Services Tax is a comprehensive, multi-stage, and destination- based tax levied on manufacture, sale, and consumption of goods and services at a national level.
In simple words, the goods and services tax is one indirect tax for the entire country.