Retailers have to file a single return in the month after GST

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The GST system is going to be implemented all over the country from 1st july of this year. Meanwhile, the government has tried to remove the notion that the new tax system is very complex. That retailers need to file a single return in the month, just as they are doing these days.

Revenue Secretary Hasmukh Adhia told media that, the taxpayers will have to file a return three times every month, the notion is baseless. Also, retailers are not required to give the receipt details every month. He said that 80 percent of the traders will have to give details of business in return as they are retail businessmen. He said that filing returns is very easy, people do not have to worry about the filing process. It is very transparent and comes from the machine.

The Finance Ministry has also made it clear that if a company or firm, after the GST’s implementation, its customers will not be eligible for a tax exemption, their license will be canceled.

 

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