You will see as many incremental files as you will set by simple retention policy
For example, you set it to 7 restore points to keep with daily interval, then you will see 1 .vbk and 6 .vib backup files.
As for GFS retention policy it will retain monthly and yearly backups as you want it to.
You can set the backup interval to 30 days and retention policy to keep 2 restore points.
This way the copy job will move full backup on the initial run and one increment every 30 days followed by injection of previous one.
Retention of the regular chain is not that important since you need GFS restore points only.