How Many Returns Are Needed To File Under gst?

By Author: Mohit Yadev
Total Articles: 74
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The success of GST depends on the smooth running of the GST network i.e. GSTN, the technology and the backbone of this reformed tax. For GST to become a huge success, flawless implementation of GSTN is needed which will capture each transaction of purchase, sale & stock of all the registered businesses in India and remove the possibility of any multiple taxation or evasion.
Know more about GST Software In India.
That’s where the main challenge lies, i.e. the implementation, which may not be a smooth ride for the taxpayers, be it a businessman or a professional because under GST, they are required to file as many as 37 returns every year.
This is coupled with the fact that a large number of our businesses are still unorganised and irregular in maintaining their tax returns and paying taxes.
No. of GST Returns & the due dates:
A tax return is a form which every taxpayer is required to file as per the governing law.
As per GST rules, a taxpayer is required to furnish three returns on a monthly basis and one on annually which takes it to a total of 37 returns annually.
Likewise, ...
... separate returns are required to be submitted by a taxpayer who has registered under the composition scheme, Input Service Distributor and a person who is liable to collect or deduct the tax i.e. TDS/TCS.
As mentioned above, now taxpayers will have to file three returns every month apart from one Annual Return which makes it to a total of 37 Returns every year.
How many returns you actually need to file?
Well that depends on whether you have any branch in other Indian states, then the same 36 returns and 1 Annual Return needs to be filed for respective States as well.
So, for example, a dealer who has businesses spread across 10 different States, he needs to file total 370 Returns.
GST registration is given State wise and therefore in case if you have say ten branches in a state itself, then only one registration will be given and the turnover of all the branches will be clubbed in a single return only.
But, if you have branches across different States then you need to have a separate registration for each State and therefore you need to file 37 Returns for every State.