You can select the filing type i.e Quarterly or Monthly when you file your first GST Return on GST Portal. The taxpayer can change the monthly return to quarterly return and vice-versa from their account on the GST Portal. The system determines the filing type on the basis of two questions :
- If the answer to the first question is ‘Yes’, the taxpayer can opt for a monthly scheme or quarterly scheme in the second question
- If the answer to the first question is ‘No’, the taxpayer does not have an option to opt for the quarterly scheme
Thus, taxpayers under Quarterly Scheme can file GST Returns on a monthly basis by opting for Monthly Scheme.
However, Taxpayers falling under Monthly Scheme must file returns on a monthly basis. They do not have an option to switch to the quarterly scheme.
How can I change the filing type of GST Return from monthly to quarterly?
Earlier, the taxpayer did not have an option to reverse the selection of filing type once selected on the GST Portal. However, The option to edit the filing type is now available on the GST Portal from FY 2018-19 subject to the following conditions:
- Option to change the preference is available only once
- Form GSTR-1 is not submitted or filed for any of the return periods in FY 2018-19
Here are the steps to edit the preference:
- Visit GST Portal
Login to GST Portal
- On the ‘File Returns’ view
Select the Financial Year and Period
- Click on the ‘EDIT’ button to change the filing preference
Select the option and click on ‘SUBMIT’
Every registered person, irrespective of turnover, needs to file GSTR-3B for the months of July to December, by the 20th day of the succeeding month.
In such a case, you shall avail monthly ITC on self-declaration basis. You will have to enter the details of the invoices of purchases from a quarterly filer in your monthly GSTR-2. These details will be reconciled with the GSTR-1 filed by your supplier at the end of the quarter.
Quarterly filing of return is optional, not compulsory. Periodicity of filing return will be deemed to be monthly for all taxpayers unless quarterly filing of the return is opted for.