GST Return Filing In Lakshadweep
A taxpayer is required to file 4 forms for GST returns in Lakshadweep these forms include the returns such as the returns of the supplies, returns for the purchases made, the monthly returns, and the annual returns. GST return filing in Lakshadweep is mandatory for all the entities that have a valid GST registration irrespective of the business activity or the sales or the profitability while the return filing period. Hence, even a dormant business having a valid GST registration is required to file the GST returns.
It is a document that has all the details of all the incomes or the expenses that a taxpayer is required to file with the administrative authorities.
Who is required to file the GST returns in Lakshadweep?
GST return filing in Lakshadweep is necessary for the people mentioned below:
An individual having a valid GSTIN has to compulsorily file the GST returns in Lakshadweep.
Also, a person with an annual turnover exceeding Rs.20 lakh has to obtain the GST registration and file the GST returns mandatorily.
In the case of the special states, the annual turnover limit is set to Rs.10 lakh.
GST return filing in Lakshadweep under the composition scheme.
All the people that are registered under the Composition scheme are required to file the GST returns in Lakshadweep using the CMP-08 every quarter and GSTR 4 to be filed annually through the GST common portal or the GST facilitation center. GST return filing in Lakshadweep for those who are enrolled under the composition scheme would be due on the 18th of the month, succeeding a quarter.
The GST return filed should include the following details:
- Invoice wise inter-state and intrastate inward supplies are received from the registered and unregistered persons.
- Consolidated details of the outward supplies that are made.
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