With the introduction of the New Returns System under the GST filing services is less than a month away and the new returns system has removed majority of forms that are currently required to submit while filing GST returns.

Under the current GST filing system, taxpayers are expected to file GSTR-1, GSTR-4, GSTR-5, GSTR-6, GSTR-7 etc. But under the GST New Returns System this is not the case; taxpayers will be required to file a simplified main return form GST RET-1 containing 2 annexure GST ANX-1 and GST ANX-2.

The tax, which is directly levied on individuals and corporate entities, is Direct Tax. It cannot be transferred or borne by anyone else, such as income tax, wealth tax, gift tax, capital gains tax.
 

Income tax filing services is the most popular tax. Income tax is levied on income earned by individuals as per the income level. Term ‘individuals’ includes individuals, Co-operative Societies, Hindu Undivided Family (HUF), Company, firm, Trusts.

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