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GST returns to be filed monthly!!

Updated on: 08 Aug, 2023 12:34 PM

The biggest indirect tax regime GST, which is proposed to be implemented from April 1, 2017 is witnessing frequent updations.

The three draft rules with their formats relating to registration, invoice and payments were issued yesterday by the Central Board of Excise and Customs (CBEC), for public comments.

As per the rules for refund, specified form (GSTR-3) will be required to be submitted by every registered taxable person monthly. There is also a provision for electronic furnishing of annual return. Audited statements would be required to be submitted annually by every taxable person whose turnover exceeds Rs. 1 crore.

CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.