Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

composition return

Vikash Kumar (B.Com) (52 Points)

08 November 2017

Dear All

if I am registered under regular and my turnover is less than 1.5 crore then whether we have to file return monthly or quarterly.

please share if any notification and update are available.

best regards
Vikash Kumar

Reply
Follow
Share

3 Replies

CA Aditya Goenka (CA Practice) (174 Points)
Replied 08 November 2017

You have to file your GST return quarterly but as of now

GSTR 3B has to be filed till the month of december (monthly)

and GSTR1,2,3 is to be filed quartely from 3Rd qtr of this Financial Year, i.e from 1/10/2017 and for july,aug,sept 2017 it is monthly.

Upgrade to CAclubindia Pro. Subscribe Now!

B Vinay Reddy (Hyderabad ) (7837 Points)
Replied 08 November 2017

As per the Press Release by GST Council on 22nd Meeting.
Taxpayers needs to file GSTR 3B on Monthly basis till December,2017

B Vinay Reddy (Hyderabad ) (7837 Points)
Replied 08 November 2017

5. To facilitate the ease of payment and return filing for small and medium businesses with annual
aggregate turnover up to Rs. 1.5 crores, it has been decided that such taxpayers shall be required to file
quarterly returns in FORM GSTR-1,2 & 3 and pay taxes only on a quarterly basis, starting from the third
quarter of this financial year i.e. October-December, 2017. The registered buyers from such small
taxpayers would be eligible to avail ITC on a monthly basis. The due dates for filing the quarterly
returns for such taxpayers shall be announced in due course. Meanwhile, all taxpayers will be required to
file FORM GSTR-3B on a monthly basis till December, 2017. All taxpayers are also required to file
FORM GSTR-1, 2 & 3 for the months of July, August and September, 2017. Due dates for filing the
returns for the month of July, 2017 have already been announced. The due dates for the months of
August and September, 2017 will be announced in due course.