My Turnover had crossed Rs. 5 Crore in previous year. But I missed to change my return filing preference from quarterly to monthly for 1st quarter. What will be the consequences of this?
Thanks & regards.
mangesh chitnis (Accountant) (112 Points)
10 May 2024My Turnover had crossed Rs. 5 Crore in previous year. But I missed to change my return filing preference from quarterly to monthly for 1st quarter. What will be the consequences of this?
Thanks & regards.
CA Anoop Kumar Sharma
(Accounts Manager)
(627 Points)
Replied 10 May 2024
Starting July 2024 you will need to submit your GSTR monthly. However until June 2024, you will continue filing on a quarterly basis. Now you can opt for monthly.
mangesh chitnis
(Accountant)
(112 Points)
Replied 10 May 2024
Do I need to face any issue for 1st Quarter?
CA Anoop Kumar Sharma
(Accounts Manager)
(627 Points)
Replied 10 May 2024
If Department ask any query about your matter than you will submit your reply, mostly department doesn’t ask any query regarding this. Otherwise, no need to worry since you have now opted for monthly submissions… .
CAclubindia
