Who should File GST Return?

Goods and Services Tax (GST) has replaced a range of indirect taxes in India. GST is a comprehensive tax levied on the supply of goods and services. It is mandatory for all businesses registered under GST to file GST returns. In this blog post, we will discuss who should file GST returns.

GST registration is mandatory for businesses that have an annual turnover of over Rs. 40 lakhs (for goods) or Rs. 20 lakhs (for services). Once registered, businesses are required to file monthly, quarterly or annual GST returns depending on their turnover.

Businesses that have registered under GST must file GST returns on time to avoid penalties and late fees. Late filing of GST returns can attract interest, and in some cases, the GST registration may even be cancelled.

Apart from businesses, there are certain other entities that are required to file GST returns. These include:

1. Individuals registered under the GST composition scheme.
2. Non-resident taxable persons.
3. E-commerce operators.
4. Input service distributors.
5. Those deducting tax at source.

It is important to note that businesses that are not registered under GST but are required to do so must apply for GST registration immediately. Failure to do so can result in legal action.

In conclusion, GST return filing is mandatory for businesses registered under GST, individuals registered under the GST composition scheme, non-resident taxable persons, e-commerce operators, input service distributors and those deducting tax at source. It is important to file GST returns on time to avoid penalties and late fees. Businesses that have not yet registered under GST but are required to do so must apply for GST registration immediately to avoid legal action.