Revenue Secretary Hasmukh Adhia dispelled confusion around GST returns. We break it all down to the basics for you. Those with a turnover below Rs.20 lakh need not file any return. Their life will not change at all after July 1. b) If your turnover is more than Rs.20 lakh and below Rs.75 lakh, you can plain ignore all the details. Why? Because you need to file just one return in three months—yes, just four returns in a year. And you need not give any details of invoices. If you opt for the composition scheme, you will deposit a lumpsum amount in tax without giving too many details to the government. You need to disclose just the total turnover. If your turnover is more than Rs.75 lakh but you are B-to-C enterprise (business to consumer, which includes most of retail sector), you file one return—GSTR1—between 1st to 10th of the next month, giving only your total sales turnover and no other detail. The remaining businesses will also file one return, but it will be updated twice. These are the only ones who will be required to furnish invoices. Only this small minority needs to know all the rules. a) They have to file one return—GSTR-1—between the 1st and 10th of the next month by giving invoice details.  b) The second return—GSTR-2—is actually not a return. It is a computer-generated account of all your invoices as furnished by your suppliers. GSTR-2 is not supposed to be filed by you. It gets generated when all your suppliers file their own GSTR-1. Thus it gets auto-generated by the system and you just need to approve it. c) GSTR3 too is not a return. It is a combination of GSTR-1 and GSTR-2 and is computer generated. It gives the summary of the total output tax liability, input tax credit and the difference between the two is the final tax liability for the month. It is for your viewing. If you find all your details correctly reflected, you just approve it. So, you file only one return, and the government will send you two computer-generated returns with additional information which you have to just check and approve.

(Economic Times)