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gst compliance
compliance under gst for a trader who opt for composition scheme and regular scheme and turnover upto rs. 1cr and above it. Please guide
Replies (4)
In Composition scheme he is not charge GST from customer & not claimed input on purchase. he shall pay GST 1 % from own pocket & file GSTR-04 on Qtrly basis.
In Regular Scheme
He would liable to file monthly return ( 3 Return )
He shall charge GST on Bill and Take input credit on purchase.
what about gstr 1 , 2 and 3 for regular trader , and its compliance date and turnover limit
GSTR-1 SALE RETURN
GSTR-2 PURCHASE RETURN
GSTR-3 SUMMARY OF SALE AND PURCHASE WITH TAX
GSTR-3B SUMMARY OF TAX LIABILITY & CREDIT Dtd 20th of next month
Turnover more than 1.5 Cr of Regular
upto rs.1 cr any trader can opt composition scheme ?
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