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Every GST registered organization in India is legally responsible for filing a total of 26 GST returns in a financial year.
Who is responsible for GST returns?
Any individual running a business entity is responsible for registering with the GST system and filing GST returns. Key criteria that require a registered business person for GST filing:
Monthly consumption tax return
Annual consumption tax return
GST Returns for Entry/Purchase
GST return on export/supply
Will there be any penalties or late fees if I fail to file my return on time?
If a taxpayer fails to file the GST return within the specified date prescribed by the GST department, the taxpayer has to pay late payment penalty along with 18% interest. If you fail to file a return, a late fee of Rs 20 will be levied per day, otherwise, if you fail to file the return within the specified date, a late fee of Rs 50 will be levied.