GST is implemented on 1st July, 2017. GST replaced many taxes like VAT, Excise, Service and sale tax. For Businessmen, they do not need to file distinct returns. Like previous tax return system which contained the details of income of taxpayers, GSTR also has the details of the purchases, sales, Output GST and Input Tax Credit, of taxpayers.
The process of filing GSTR is fully online in a common portal, provided by the GST Network. The whole process of filing GST Returns contains in the following 5 steps:
Below are some of the prominent features of the proposed returns under GST: