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of <h1>Guide on Filing GST Returns and Managing Input Tax Credit: Process, Requirements, and Consequences of Late Filing</h1> The document provides a comprehensive guide on the process of filing returns and managing Input Tax Credit (ITC) under the Goods and Services Tax (GST) regime. It outlines the purpose of returns, which include information transfer, compliance verification, and tax liability finalization. All registered persons under GST must file returns, with specifics varying based on turnover and scheme opted. It details the types of outward supplies to be reported, the process for handling mismatches in invoices, and the requirements for different taxpayer categories, including composition scheme taxpayers and Input Service Distributors. The document also addresses the consequences of late filing, the procedure for handling duplicate ITC claims, and the simplified return form GSTR-3B. Additionally, it emphasizes the importance of timely invoice uploads and provides guidance on handling advances in GSTR-1.
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