December 17, 2021

We are aware of the fact that, any person who is applying for the GST Registration has to file GST return online. To help you more with the procedure, we have mentioned most of the details in this article. So, without further ado, let us begin.

As per CGST Act 2017, there are lots of the types of the GST Returns which you have to file on the monthly basis and also require filing one annual return. If you are registered under the GST Composition Scheme, then you have to file the returns on quarterly basis with annual return. Most of the times you have to file the GSTR 1, GSTR 2, and GSTR 3 Return.

As per CGST law, a normal taxpayer will be required to furnish three returns monthly WITH one annual return. Taxpayer registered as an Input Service Distributor, a person liable to deduct or collect the tax (TDS/TCS). Get more details for How to File GST Return online, every registered taxable person has to furnish outward supply details in Form GSTR-1 by the 10th of the subsequent month. . Here you may download GST Return Formats in Excel and PDF Format, This document lists out the salient aspects of the process related to filing of Returns under GST.

Advisory for Taxpayers Filing of Quarterly Returns FORM GSTR 1

  • Taxpayers opting for quarterly filing of return will have to select the last month of the quarter from the drop down menu. However, for the month of July 2017, GSTR-1 has to be filed separately by all taxpayers, as option to file quarterly returns is applicable for returns from August 2017 onwards.

  • If a taxpayer opts to file quarterly return, and their annual turnover is less than Rs 1.5 Cr (on basis of their turnover in previous financial year or in case of new registration obtained after 1st July 2017, expected turnover for current financial year), then in such cases GSTR-1 of August, 2017 is disabled and he can file details for August and September, 2017 in GSTR 1 of September, 2017 and so on.

  • Thus, taxpayers who opt for quarterly return filing will have to file GSTR-1 of the various tax periods in the following manner:

  • For July: Monthly (by choosing July from drop down menu)

  • For 2nd Quarter (August and Sept): Quarterly, by choosing Sept.

  • For 3rd Quarter (Oct-Dec): Quarterly, by choosing December

  • Taxpayer, who has already filed GSTR 1 for July 2017, will not be able to revise the same. However, amendment relating to invoices and other relevant document of July 2017 can be made through amendment Table (Table 9).

  • Once taxpayer has chosen the option “Quarterly”, they cannot change this option in the remaining part of the financial year 2017-18. Thus, they will be required to file Quarterly returns and they cannot opt for Monthly filing of returns during current financial year.

We hope this article helped you understand the procedure of filing GST returns. Do you have more queries? Are you looking for a CA in Bangalore? Then, please visit us.

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