FOR INCOME BELOW 1.5 CR., RETURN IS TO BE FILLED EITHER QUARTERLY OR OR MONTHLY . NOW MY QUERY
IS WHO CAN FILE QUARTERLY AND WHO CAN FILE MONTHLY ?
WHAT IS THE DIFFERENCE BETWEEN QUARTERLY AND MONTHLY RETURN?
For assesses with turnover less than 1.5 crores in previous year are given an option to file GSTR-1 quarterly or monthly at thier option. Once option taken it cant be revoked.
In case of quarterly filing, GSTR-3B to be filed monthly while GSTR-1 is to be filed quartely showing details of sales for the whole quarter.
In case of monthly filing, both GSTR-1 & GSTR-3B to be filed monthly.
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