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WHETHER TO FILE GST RETURN MONTHLY OR QUARTERLY.?

 WHETHER TO FILE GST RETURN MONTHLY OR QUARTERLY.?

 

Implementation of GST already crossed three years but still there is confusion in the market for businessmen whether to file GST Return on monthly or on quarterly basis.

There are mainly two types of GST Returns to be file by almost every taxable person, these are as follows:

1. GSTR-3B

2. GSTR-1

GSTR-3B

  • All the taxable persons must file the GSTR-3B Return on Monthly basis even the sale is 1 crore rupees or 1 lakhs rupees or even zero rupees.

  • GSTR-3B contains the Summary of Purchase & Sale of a particular month.

  • Sales made during the month and tax thereon is mentioned in GSTR-3B and it also includes the Input tax credit of a particular month.

  • Every Taxable person is required to pay the tax to government on monthly basis in GSTR-3B.


For Detail You can View our Video by click following link



GSTR-1

  • A Person, whose gross turnover is more than Rs.1.5 crore, is required to file the GSTR-1 on monthly basis.

  • A Person, whose gross turnover is not more than 1.5 crore, He has option to file his GSTR-1 on monthly or quarterly basis.

  • Every person, whose gross turnover is not more than Rs.1.5 cr. can avail this option at the beginning of the year and can’t change it thereafter during the year. But can change the option at the beginning of next year.


  • For example In april2019 person select the option to file the GST Return for the FY 2019-20 on quarterly basis then he has to file all the four return of FY 2019-20 on quarterly basis but he has option in apr2020 to change it to monthly basis but before apr-20 he will not get any option to change it.


  • GSTR-1 Contains Following Details

1. GSTIN of Party                   

2. Name of Party

3. Invoice number     

4. Invoice Date

5. Taxable vale  

6. CGST, SGST, IGST, Cess Amount

7. CGST, SGST, IGST, Cess Tax rate

8. Invoice Value

9. Place of Supply

10.  Supply is or reverse charge or not

 

DUE DATE OF GSTR-3B

If turnover of previous year is More than Rs.5 crore than due date is 20th of next month and if turnover is not more than Rs.5 Crore than 22nd if place of business is fall in category-1 State otherwise 24th if fall in category-2 States.


Category-1 States are as follows:

Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep.



Category-2 States are as follows:


Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi

Month

Turnover is More than 5 Cr

Turnover is Less than 5 Cr

Category-1Category-2
April20th May22nd May24th May
May 20th June 22nd June 24th June
June 20th July 22nd July 24th July
July 20th August 22nd August 24th August
August 20th September 22nd September 24th September
September 20th October 22nd October 24th October
October 20th November 22nd November 24th November
November 20th December 22nd December 24th December
December 20th January 22nd January 24th January
January 20th February 22nd February 24th February
February 20th March 22nd March 24th March
March 20th April 22nd April 24th April

 


DUE DATE OF GSTR-1

If turnover of previous year is More than Rs.1.5 crore than due date is 11th of next month and if turnover is not more than Rs.1.5 Crore and assessee opt to file return on quarterly basis then due date is last date of subsequent month falling after end of quarter.


Due date for monthly filer of GST

MonthDue Date
April 11th May
May 11th June
June 11th July
July 11th August
August 11th September
September 11th October
October 11th November
November 11th December
December 11th January
January 11th February
February 11th March
March 11th April

Due date for quarterly filer of GST

Quarter

Due Date

April-June

31st July

July-September

31st October

October-December

31st January

January-March

30th April



For Detail You can View our Video by click following link



WHETHER TO FILE GST RETURN MONTHLY OR QUARTERLY.? WHETHER TO FILE GST RETURN MONTHLY OR QUARTERLY.? Reviewed by Apply GST Registration on September 05, 2020 Rating: 5

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