What is GST return filing and why is it important?

GST return filing is the process through which businesses report their sales, purchases, tax collected, and tax paid to the government under the GST system. It is important because it ensures transparency, helps in claiming Input Tax Credit, and keeps your business compliant with tax regulations. Regular GST return filing also avoids penalties and builds credibility with customers and vendors. Filing your GST returns accurately and on time is essential for smooth business operations and financial discipline.