Only 7% taxpayers will be required to submit monthly GST returns

GSTN is currently conducting outreach programmes to make the industry familiar with the new return system.

About 93 per cent of the goods and services taxpayers will be relieved of monthly return filing from the next fiscal year once the new simplified return system comes into effect from April 2020. The new return system will not only make compliance easier for businesses, but also plug leaks with respect to input tax credit claims.

Those with an annual turnover of less than Rs 5 crore will have the option of filing quarterly returns, but will need to pay taxes on a monthly basis. Those with an annual turnover of over Rs 5 crore will need to