How to File GST Returns for Multiple Business Locations?

Posted In | Finance | Accounting Software | India Accounting Tax

The Goods and Services Tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. It is a destination-based tax on consumption of goods and services which means it is charged at the place where goods are consumed. In the context of a business with multiple locations, this could present some challenges. However, with the right knowledge and understanding, you can easily navigate through the process and file your GST returns effortlessly. This article outlines the steps to file GST returns for multiple business locations.
 

Understanding GST Registration

Under GST, each branch of a company is considered a distinct entity. This means that for a business with multiple locations, each branch is required to register for GST separately if they meet the threshold. The threshold for mandatory GST registration is a turnover exceeding Rs.20 lakhs (Rs.10 lakhs for North-Eastern states). It is important to note that each branch will receive a unique GSTIN (GST Identification Number).
 

Filing GST Returns

A GST return is a document that a taxpayer is required to file as per the law with the tax administrative authorities. This document will be used by tax authorities to calculate tax liability. Under GST, a registered dealer has to file GST returns that include purchases, sales, output GST (on sales), and input tax credit (GST paid on purchases).
 

Steps to File GST Returns for Multiple Business Locations
 

Step 1: Registration for Each Location

The first step is to ensure that each business location is registered under GST and has its own GSTIN. This is a crucial step as each location will file its own GST return.
 

Step 2: Record Keeping

It is essential to maintain separate records for each business location. This includes all sales, purchases, input tax credit and output tax. This will help when it comes to filing returns, as each location will file its return based on these records.
 

Step 3: Filing Returns

Each business location will have to file its GST return separately. The returns can be filed online using the GST portal. It is important to ensure that all information provided is accurate and up to date.
 

Step 4: Payment of Tax

Once the returns have been filed, the next step is to pay the tax due. This should be done using the GST portal. The payment can be made using various methods such as Internet Banking, Debit Card, Credit Card, NEFT/RTGS or Over the Counter.

 

Filing GST returns for multiple business locations may seem like a daunting task. However, with careful planning and record keeping, it can be a straightforward process. It's also important to note that regular compliance with GST laws is not only a legal obligation but can also provide a business with valuable insights into its operations and financial health.