There would be no requirement to file separate returns for IGST, SGST, CGST and Additional Tax. One Common return would be submitted for all the taxes and dealers would be saved from separate compliances of all the taxes.
The onus and responsibility of filing of the return has been casted upon every person who is registered under the Law. Even if the person is having No Turnover during the period then also he would be liable to file the return. Therefore all persons who have been registered under the Act Voluntarily or compulsorily have to get themselves registered under the Act and file the return.
Separate Due date for separate class of Tax Payers: The entire scheme of GST has been developed upon the concept that the dealers falling in one class should have common due dates and separate due dates have been prescribed under the law for separate classes of dealers. The separate class of dealers as have been classified under the Law are
a) Normal Dealers under GST
b) Compounding Dealers
c) Non-Resident Foreign Tax Payers
d) Input Service Distributor
e) TDS Return
Return to be considered valid only if submitted after payment of Due Taxes: The return under GST can be filed either before the payment of self assessment tax or after the payment of self assessment tax. However, the return would be considered as invalid if tax has not been deposited and would not be considered for the purpose of Matching of Invoices for allowability of Input Tax Credit and for Inter fund settlement among the States and the Centre.
The concept is very clear that the purchasing dealer would only get credit where the due tax has been deposited by the seller. In the case of Inter-State Transactions, the government of the selling state would transfer the revenue to the government of the purchasing state through Central Government for allowability of the Input Tax Credit to the purchasing dealer only where the tax has been deposited by the selling dealer.
Therefore all Inter Fund settlement between the Centre and State would also take place only when the tax has been deposited by the seller.