New Quarterly filing from Jan

hello 

can someone explain this new quarterly filing scheme applicable from Jan in simple words which can be understood by a layman. They claim it is simplified but after reading it I find it very confusing or haven't understood it properly? Is it worth moving to this scheme or should I simply opt out and stick to current scheme?

Thanks!

Replies (5)
Quick Summary
A new quarterly GST filing scheme has been introduced from January, but many find it confusing despite claims of simplification. This discussion aims to clarify the scheme in simple terms for laypeople. Participants are debating whether to move to the new scheme or stick with the current one, with concerns raised about potential monthly tax payment obligations and increased hassle for B2B transactions. There's also confusion about whether opting out of quarterly GSTR3B filing automatically makes GSTR1 filing monthly.

Opting new scheme , monthly return filing burden is reduced , but tax payment must do with monthly ...

If u okei with the current scheme ...follow that

I think its quite a hassle for people involved in B2B. it seems by default we have been moved to quarterly, and we need to log in to gst portal and select 3b as monthly, isnt it?

Yes , check with december months return !

while opting out of the scheme and selecting "monthly", the system shows monthly last date of filing for GSTR1 and 3B. Is it like if we opt for monthly filing of 3b then gstr1 filing will also become monthly even if we are filing gstr1 quarterly currently?

hello can someone confirm that if I opt out of gstr3b quarterly filing scheme then I will have to file both 3b and gstr1 on a monthly basis irrespective of my turnover and even if currently I am filing gstr1 on a quarterly basis, ...is it right?  pls. confirm.

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