GST Monthly & Quarterly Returns

All GST registered suppliers of goods and services are required to file returns providing details of Outward supplies, Inputs taken under reverse charge, and Inward supplies.

Suppliers having an annual aggregate turnover up to Rs. 1.5 crores, can choose to file return of outward supplies in Form GSTR-1 on a quarterly basis. Others have to file the form on a monthly basis.

 

The simplified monthly return in Form GSTR-3B was introduced on a temporary basis to help suppliers file the requisite details easily. GSTR-3B continues to be filed until the new regime of return filing is implemented. The GST Council in its 39th meeting held on 14th March, 2020 has decided that the current system of return filing shall be continued till September, 2020.

 

Hence, GSTR-1 (monthly or quarterly) and GSTR-3B (monthly) are the two returns that normal registered suppliers have to file currently. Composition suppliers, e-commerce operators, input service distributors, non-resident taxable person, etc there are specific forms that are required to be filed on a monthly/ quarterly basis.

Types of forms for filing monthly/ quarterly return

Form Details
GSTR-1
Details of outward supplies of taxable goods or services affected
GSTR-3B Summary of outward supplies and input tax credit
CMP-08 Quarterly statement cum payment form by composition taxpayer
GSTR-4 Return to be filed annually by composition taxpayer
GSTR-5 Return by a non-resident taxpayer
GSTR-6 Return by Input Service Distributor
GSTR-7 Return by persons deducting TDS u/s 51
GSTR-8 Supplies by e-commerce operator

GSTR-3B was introduced as a simplified version of summary of outward supplies and input tax credit. This was done as the filing of GSTR-2 and GSTR-3 could not be implemented.

Composition taxpayers were earlier required to file GSTR-4 quarterly. For the financial year 2019-20, Form CMP-08 was introduced in place of GSTR-4. GSTR-4 is now required to be filed on an annual basis.

Time limit for monthly and quarterly Returns

The current regime of returns will continue till September, 2020, hence GSTR-1 due date for the months April, 2020 to September, 2020 shall continue to be 11th of next month subject to any extension provided by the CBIC vide notification. Similarly, the due dates for GSTR-1 (Quarterly) return shall be the last date of the next month from the end of the quarter.

The due dates for various forms are as follows:

Form Due Date Frequency
GSTR-1 11th of the next month Monthly
GSTR-1 Last day of next month after the quarter Quarterly
GSTR-3B 20th/ 22nd/ 24th of the next month Monthly
CMP-08 18th of the succeeding quarter Quarterly
GSTR-4 30th April of next FY Annual
GSTR-5 20th of the next month Monthly
GSTR-6 13th of the next month Monthly
GSTR-7 10th of the next month Monthly
GSTR-8 10th of the next month Monthly

The above dates are subject to any further extension by the CBIC vide notification.

Late fee for delayed filing

The GST Council has from time to time reduced the late fees for filing GST returns. As of now, the late fee for delayed filing of various forms are as follows: -


GSTR-1: For all returns belonging in the period July, 2017 to November, 2019 which are filed up to 17th January, 2020, there would be no late fees. For returns filed after 17th January, 2020, late fee is Rs. 50 per day and for NIL Returns it is Rs. 20 per day.


GSTR-3B: The late fee is Rs. 50 per day and for NIL Returns it is Rs. 20 per day.


GSTR-4: The late fee is Rs. 200 per day.


All the above late fees are subject to a maximum of Rs. 5,000.

Waiver of late fees due to COVID 19 pandemic

On 3rd April,2020 the government issued a series of notifications waiving late fees in the following cases: -

Form Period Condition
GSTR-1 (Monthly)
March, 2020, April, 2020 and May, 2020 GSTR-1 can be furnished on or before 30th June, 2020
GSTR-1 (Quarterly) January to March, 2020 GSTR-1 can be furnished on or before 30th June, 2020
GSTR-3B February, 2020, March, 2020 and April, 2020
  1. Taxpayer has aggregate turnover more than Rs. 5 crores in the preceding FY
  2. GSTR-3B is furnished on or before 24th June, 2020

GSTR-3B February, 2020 and March, 2020
  1. Taxpayer has an aggregate turnover between Rs. 1.5 crore and Rs. 5 crore in the preceding FY;
  2. GSTR-3B is furnished on or before 29th June, 2020
GSTR-3B April, 2020
  1. Taxpayer has an aggregate turnover between Rs. 1.5 crore and Rs. 5 crores in the preceding FY
  2. GSTR-3B is furnished on or before 30th June, 2020
GSTR-3B February, 2020
  1. Taxpayer has an aggregate turnover up to Rs. 1.5 crores in preceding FY
  2. GSTR-3B is furnished on or before 30th June, 2020
GSTR-3B March, 2020
  1. Taxpayer has an aggregate turnover up to Rs. 1.5 crores in preceding FY
  2. GSTR-3B is furnished on or before 3rd July, 2020
GSTR-3B April, 2020
  1. Taxpayer has an aggregate turnover up to Rs. 1.5 crores in preceding FY
  2. GSTR-3B is furnished on or before 6th July, 2020
CMP-08 (Quarterly) January to March, 2020

CMP-08 is filed on or before 7th July, 2020

GSTR-4 Financial Year ending on 31st March, 2020

GSTR-4 is filed on or before 15th July, 2020

Changes in Return Procedure due to COVID 19 pandemic

The CBIC has amended the CGST Rules, 2017 to allow Companies to furnish GSTR-3B through Electronic Verification Code (EVC) during the period from 21st April, 2020 to 30th June, 2020. Earlier corporate taxpayers were not allowed to verify return through EVC.


Further, a registered person can furnish a NIL GSTR-3B return through short messaging service (SMS) using the registered mobile number and the said return shall be verified by a registered mobile number based One Time Password (OTP) facility.

All registered suppliers, other than those registered under composition scheme, are required to file monthly returns. Only GSTR-1 can be filed quarterly where the aggregate turnover of the supplier is not more than Rs. 1.5 crore.

GST returns can be filed quarterly in the following cases: -

  1. GSTR-1: Where aggregate turnover of supplier is not more than Rs 1.5 crore.
  2. CMP-08: Composition supplier

A composition taxpayer needs to file GST CMP-08 on a quarterly basis and GSTR-4 annually.

Normally, the due date for filing GSTR-1 (Monthly) is 11th of next month. The due date for GSTR-1 (Quarterly) is the last day of next month following the end of the quarter.

The GST council reduced the late fees from the quantum stated in the Acts (CGST and SGST Act) to Rs. 50 per day from the due date of filing of GSTR-1/ GSTR-3B. For a NIL return, the late fine per day is Rs 20 per day.

Return once filed cannot be revised. However, any error in entering the value of outward supplies/ inward supplies/ ITC in any return can be rectified or adjusted in the return of the subsequent period.

If no inward or outward supply has taken place, a NIL return may be furnished.

If you have inputs, you cannot file NIL return in GSTR-3B. Details of inputs are to be shown in GSTR-3B.

What’s Included

  • For business where monthly sales and purchase transaction are less than 20 in total
  • 3 Months Filing of GSTR-3B
  • 1 quarterly filing of GSTR-1
  • Tax payment assistance

Documents Required

  • Details of outward supplies (including reverse charge)
  • Details of inward supplies (including reverse charge)
  • Details of tax paid
  • Any other information as may be required

GST Monthly & Quarterly Returns


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