Should I file my GST Return monthly or quarterly?

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Sakshi Shah

Aggregate Turnover
Composition Scheme
GST
GST Due Date
GST Portal
GST Return
GSTR-1
GSTR-4

Every business registered under GST must file all its GST Returns regularly within the due dates to avoid penalties and late fees. Periodicity of filing GST return will be deemed to be monthly for all taxpayers unless quarterly filing of the return is opted for

Taxpayer registered under Regular Scheme

For business registered under the regular scheme, the type of GST Return and the frequency of filing it depends on the turnover of the business.

1. Returns under Monthly Scheme

If the aggregate turnover of the business in the preceding financial year exceeded Rs.1.5 Crore OR the aggregate turnover during the current financial year is expected to exceed Rs.1.5 Crore, following returns are to be filed:

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GST Return Frequency Description Due Date
GSTR-3B Monthly Summary Return with details of outward supplies, inward supplies and payment of tax 20th of next month
GSTR-1 Monthly Sales Return with details of outward supplies for businesses with aggregate turnover of more than Rs.1.5 Crore 11th of next month

2. Returns under Quarterly Scheme

If the aggregate turnover of the business in the preceding financial year was up to Rs.1.5 Crore OR the aggregate turnover during the current financial year is expected to be up to Rs.1.5 Crore, following returns are to be filed:

Form Frequency Description Due Date
GSTR-3B Monthly Summary Return with details of outward supplies, inward supplies and payment of tax 20th of next month
GSTR-1 Quarterly Sales Return with details of outward supplies for business with aggregate turnover of more than Rs.1.5 Crore last date of next month from end of the quarter
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Taxpayer registered under Composition Scheme

A business can register under the Composition Scheme if the aggregate turnover is up to Rs.1 Crore. Tax is to be paid at a specified rate based on the nature of the business.

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Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of tedious GST formalities and pay GST at a fixed rate of turnover
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Taxpayers who have applied for registration under Composition Scheme should file the following GST Return:

Form Frequency Description Due Date
GSTR-4 Quarterly Return with details of outward supplies and payment of tax at a fixed rate of turnover of the return period 18th of next month from end of the quarter

FAQs

Who should file GSTR1 monthly?

Every registered dealer is required to file GSTR-1 every month. The return contains details of all outward supplies made during the month. However, certain taxpayers having annual turnover upto Rs 1.5 crores can opt to file the GSTR-1 once in every quarter.

Can the taxpayer change the period (whether monthly or quarterly) of filing his return?

The taxpayer will have the option to change the period (from quarterly to monthly and vice versa) of filing his returns only once – at the time of filing his first return for that financial year.

How do I convert from monthly to Quarterly?

For change Return filing Status from Monthly to Quarterly, follow the steps
1. Visit GST Portal
2. Enter login details, then click login.
3. Click file returns.
4. Select month, then click search.
5. Select yes if you are change monthly to Quarterly, then click search.

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