GST returns : It stands for Goods and service tax. The tax which is collected by the government from the Business for their commercial services they are providing in the form of manufacturing /services. Every business entity falls under different tax slabs from 5% to 28 % and they have to pay accordingly. The GST filling provides two option to file their return. If the Business turnover is less than 5 crores for the last financial year, he can opt for quarterly filling (in 3 quarters), If a business has turnover more than 5 crores than he has to file the GST monthly.
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IT Return : The IT return is the Income tax which is collected by the government against the income earned by the individual. Any person who is self-employed or salaried have to pay income tax to the government. The PAN card is must to pay the Income Tax. There are various types of Tax percentage slabs defined by the Government and the person has to pay according to the slab they are falling. Govt. reviews and notify the public about the relaxations and the Tax slab percentage before the starting of the financial year.
Auditing : Auditing can be defined as inspection or examination of the business accounts. The purpose of the auditing is to check the authenticity of the account books, are they done in fair manner and there is no fraud is done. All the Firms falls in the legal structure have to get their accounts audited by an independent auditor before they declare their financial statement for any quarter. The chartered accountant from ICAI can do independent auditing of any business in INDIA.