GSTN’s FAQs relating to GST Return by Small Taxpayers (dt. 12 Oct. 2017)

FAQs relating to GST Return by Small Taxpayers answered by GSTN (dt. 12 Oct. 2017) via Twitter

The GSTN has shared a set of 5 FAQs on GST to clarify issues concerning quarterly filing of GST Returns by Small Taxpayers with turnover upto Rs. 1.5 crores, as Announced by GST Council in it’s 22nd Meeting dt. 6 Oct. 2017, as under:

Q.1 From when can a person with turnover below Rs. 1.5 crores start filing quarterly returns?

Ans. Such a person can start filing GS’I’R-1,2 and 3 on a quarterly basis starting from the quarter October-December, 2017. He shall have to file monthly GS’I’R-1, 2 and 3 for the months of July, August and September.

Q.2 If my turnover is less than Rs. 1.5 crore, do I need to file GSTR-3B on a monthly basis? 

Ans. Every registered person, irrespective of turnover, needs to file GSTR-3B for the months of July to December, by the 20th day of the succeeding month.

Q. 3 If my turnover is less than Rs. 1.5 crore, do I need to file GSTR-1, 2 and 3 on a monthly basis for the months of July, August and September?

Ans. Every registered person, irrespective of turnover, needs to file GSTR-1, 2 and 3 for the months of July, August and September. From October onwards, only taxpayers with turnover greater than Rs. 1.5 crore need to file monthly GSTR-1, 2 and 3.

Q.4 If I am required to file monthly returns then how will I claim ITC on purchases made from a person filing quarterly returns?

Ans. In such a case, you shall avail monthly ITC on self-declaration basis. You will have to enter the details of the invoices of purchases from a quarterly filer in your monthly GSTR-2. These details will be reconciled with the GSTR-1 filed by your supplier at the end of the quarter.

Q.5 I have finished filing GSTR-1 for July. Can I start uploading invoices for August and September?

Ans. Yes, you can start uploading invoices for supplies made during August and September. The due dates for filing GSTR-1, 2 and  3 for these months will be notified in due course.

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