When to file gst quarterly

Uploaded invoices are the only valid documents to claim input tax credit. Uploaded invoices shall be continuously visible to the recipient. The invoices which are accepted by the recipient are called accepted or locked invoices.

The recipient can avail credit to the extent of these invoices. The invoices which are neither rejected nor kept on pending shall be treated to be deemed acceptance.

Where the GSTIN of the invoice is wrongly filled by the supplier, the invoice would appear on the viewing facility of the taxpayer who is not eligible to take the credit. In this case, the recipient shall report such invoices as rejected invoices. The same will get updated on the GST portal within a few seconds!

Further, in case the aggregate turnover exceeds Rs. It is clarified that the aggregate annual turnover for the preceding financial year shall be calculated in the common portal taking into account the details furnished in the returns by the taxpayer for the tax periods in the preceding financial year.

A registered person who intends to file his GSTR-3B quarterly should indicate the same on the GST portal, from the 1st of the second month of the preceding quarter until the last day of the first month of the quarter for which such option is being exercised.

For example: If A wishes to file quarterly returns for the quarter of Apr-Jun , he should have opted for quarterly filing on the common GST portal between 1st February and 30th April Once the registered person has opted for quarterly filing, he will have to continue to furnish his return every quarter for all future tax periods, except in the following situations:. For example, if the person is opting for quarterly GSTR-3B filing on 1st December , he will need to furnish his GSTR-3B return for October , which would have been the last return due on the date of exercising the quarterly filing option.

However, in case of registered persons falling in the categories specified in the table below, who have furnished their GSTR-3B return for October by 30th November , it shall be deemed that they have opted for monthly or quarterly filing as detailed below-. The taxpayers referred to in the Sl. One should keep the following points in mind before utilising the IFF:.

The taxpayer has to deposit tax using form PMT by the 25th of the following month, for the first and second months of the quarter. With companies looking to manage Associates are a key part of the healthcare industry as a large majority of practitioners either are one or have hired one throughout their careers. In the Federal Budget presented in April , the government proposed a vacant homes tax that was intended to deter non-residents from passively investing their With a history of service in the Niagara, Hamilton, Halton region since , DJB has been helping clients gain the edge they need to remain competitive in the ever-evolving world of business.

Today, with multiple offices covering Burlington to Fort Erie, we advise entrepreneurs, business owners, and organizations in many areas including agribusiness, construction, general contracting, manufacturing. Annual Audit Form. Note that late fees will be applied when returns are not filed by the due date mentioned below. Quarterly Period. Oct-Dec Jul-Sep Oct 13 th Apr-Jun Jul 13 th No: 35 of Its notable points are:. GST Return-3B. Nil return. Tax liability return. However, returns in are not affected as COVID has abated, and no relief measure notifications have been announced about returns due in The notifications 18 and 19 issued on May 1 st , announced further GSTR-3B relief measures and others as set out below.

The GSTR-1 due date extended notification chart for rationalisation measures:. GSTR-1, 3B. Nil return cases. No tax liability cases. Cases other than no tax liability.

The GSTR 3B Notification extends irrespective of the turnover limit, the benefit in late fees to all taxpayers for the year of as tabled below. It covers the late fee on returns as below:.

Not filed within. Filed within. Late fees. Due date. Jul 1 st to Sept 30 th Other than Nil. Later of the actual or specified due date. Later of actual or specified due date up to Sep 30 th Other then Nil.