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

tax payment for quarterly returns

sangram patil (93 Points)

09 November 2017

Sir/Madam,
if tax return is quarterly tax payment is quarterly or monthly?

Reply
Follow
Share

7 Replies

CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 09 November 2017

payment of tax to be as monthly and returns to be filed quarterly . . .

Upgrade to CAclubindia Pro. Subscribe Now!

sangram patil (93 Points)
Replied 09 November 2017

thank you sir

B Vinay Reddy (Hyderabad ) (7837 Points)
Replied 09 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 09 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.