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Retailers need to file single GST return every month

Days before the rollout of the goods and services tax, the government on Wednesday sought to dispel the notion that the new tax regime will be burdensome and compliance-heavy, saying taxpayers need to file only one return every month, similar to what they presently do. In an interview, revenue secretary Hasmukh Adhia said the notion that assesses will have to file three returns every month is unfounded and retailers or B2C dealers need not give invoice-wise details every month.

Talking about the return filing Adhia stated that when a supplier uploads details of sale invoices, a GST Return-1 is generated by 10th of next month also 80 per cent of the businesses will have to simply file total turnover detail in return because they are all B2C dealers or retailers. The details from the suppliers in GSTR-1 automatically gets updated in the GST Return-2 with the help of the computer on its own account by just clicking it and accepting it. It needs to be filed by 15th of next month. While only B2B dealers have to file both GSTR-1 and GSTR-2, retailers do not need to file the GSTR-2 as they have to only match with what the dealer has uploaded on the GST Network. According to him filing GST is not at all complex and 80 per cent of the businesses will have to just file total turnover.

As regards traders, manufacturers or eateries opting having turnover up to Rs 75 lakh and have opted for composition scheme, they will just have to give their total turnover in GSTR-1 and no invoice wise detail is required. These businesses will have to file just one return every three months.

Adhia further stated that to keep the invoice wise details ready the GSTN will launch an excel sheet format for B2B dealers so that they can keep the. As per the revised return filing timeline decided by the Council, for July, the sale returns will have to be filed by September 5 instead of August 10. Companies will have tofile sale invoice for August with the GST Network by September 20 instead of September 10 earlier which has to be filed by 18th of the month in the succeeding quarter.

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