Following registered person (hereinafter RP) can file quarterly returns and pay tax on monthly basis w.e.f. 01.01.2021 :
For quarter Jan., 2021 to March, 2021, all RPs whose AATO for the FY 2019-20 is up to Rs 5 Cr. and have furnished the return in Form GSTR-3B for the month of October, 2020 by 30th 2020, will be migrated by default in the GST system as follows:
Sl. No. |
Class of RPs with AATO of |
Default Return Option |
1 |
Up to Rs 1.5 Cr., who have furnished Form GSTR-1 on quarterly basis in current FY |
Qtrly |
2 |
Up to Rs 1.5 Cr., who have furnished Form GSTR-1 on monthly basis in current FY |
Monthly |
3 |
More than Rs 1.5 Cr. and up to Rs 5 Cr. in preceding FY |
Qtrly |
The RPs opting for the scheme can avail the facility of Invoice Furnishing Facility (IFF), so that the outward supplies to registered person is reflected in their Form GSTR 2A & 2B.
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