A Study on GST Accounting and Return Filing Process in Trading Firms

The introduction of the Goods and Services Tax (GST) in India has transformed the nation’s indirect tax structure by merging various central and state taxes into a single, unified system. This research paper aims to study the accounting treatment and return filing process under GST in trading firms. The paper focuses on understanding how GST has simplified tax compliance, improved transparency, and affected business operations. Data was collected through observation, discussions with accounting professionals, and analysis of company documents. The findings highlight the importance of maintaining accurate records, timely filing of returns, and proper reconciliation of Input Tax Credit (ITC). The study concludes that while GST has simplified the tax process, small and medium trading firms still face challenges in compliance and technology adaptation.