Who is required to file GST returns?

In the new GST regime, businesses with an annual turnover exceeding Rs. 5 crores (and those not participating in the QRMP scheme) are obligated to submit two monthly returns and one annual return, totaling 25 returns annually. However, for businesses with turnover up to Rs. 5 crores, the QRMP scheme offers an alternative. Under this scheme, these businesses can opt to file returns quarterly. QRMP filers are required to submit a total of 9 returns per year, comprising 4 GSTR-1 and GSTR-3B returns each, along with an annual return. It’s important to note that despite filing returns quarterly, QRMP participants must still remit taxes every month. Additionally, certain cases, like composition dealers, necessitate separate filings, with a total of 5 GSTR submissions annually – comprising 4 statement-cum-challans in CMP-08 and 1 annual return GSTR-4.

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