FAQ-GST Quarterly return by persons with turnover below 1.5 crores

FAQ-GST Quarterly return by persons with turnover below 1.5 crores

FAQ-GST Quarterly return

Q.1 From when can a person with turnover below Rs. 1.5 crores start filing quarterly returns?

Ans. Such a person can start filing GSTR-1, 2 and 3 on a quarterly basis starting from the quarter October-December, 2017. He shall have to file monthly GS’I’R-1, 2 and 3 for the months of July, August and September.

Q.2 If my turnover is less than Rs. 1.5 crore, do I need to file GSTR-3B on a monthly basis? 

Ans. 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.

Q. 3 If my turnover is less than Rs. 1.5 crore, do I need to file GSTR-1, 2 and 3 on a monthly basis for the months of July, August and September?

Ans. Every registered person, irrespective of turnover, needs to file GSTR-1, 2 and 3 for the months of July, August and September. From October onwards, only taxpayers with turnover greater than Rs. 1.5 crore need to file monthly GSTR-1, 2 and 3.

Q.4 If I am required to file monthly returns then how will I claim ITC on purchases made from a person filing quarterly returns?

Ans. 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.

Q.5 I have finished filing GSTR-1 for July. Can I start uploading invoices for August and September?

Ans. Yes, you can start uploading invoices for supplies made during August and September. The due dates for filing GSTR-1, 2 and  3 for these months will be notified in due course.

Note:

As per the recommendations of the GST Council made at its 23rd meeting held at Guwahati on 10th December, 2017,

(a) Taxpayers with annual aggregate turnover upto Rs. 1.5 crore need to file GSTR-1 on quarterly basis as per following frequency:

Period Dates
Jul- Sep 31st Dec 2017
Oct- Dec 15th Feb 2018
Jan- Mar 30th April 2018

(b) taxpayers with annual aggregate turnover more than Rs. 1.5 crore need to file GSTR-1 on monthly basis as per following frequency:

Period Dates
Jul- Oct 31st Dec 2017
Nov 10th Jan 2018
Dec 10th Feb 2018
Jan 10th Mar 2018
Feb 10th Apr 2018
Mar 10th May 2018

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  1. geetha October 24, 2017
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    • Vivek Saraswate October 26, 2017
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  5. punit lohiya December 27, 2017
  6. JAYARAMAN RAMIAH January 11, 2018
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