Who can Gstr 3b quarterly?
In the current system, taxpayers are required to file GSTR-1 for outward supplies and GSTR-3B, which is summary return for sales and input tax credit.
Taxpayers with turnover of up to Rs 1.5 crore are allowed to file GSTR-1 on a quarterly basis, but have to file GSTR-3B on monthly basis..
Is GST payment monthly or quarterly?
Your GST reporting and payment cycle will be one of the following: Monthly – if your GST turnover is $20 million or more. Quarterly – if your GST turnover is less than $20 million – and we have not told you that you must report monthly. Annually – if you are voluntarily registered for GST.
What is Gstr 3b?
What is GSTR-3B? GSTR-3B is a simple summary return that all normal taxpayers must file monthly for the nine-month period of July 2017 to March 2018. On this form, taxpayers summarize and report the total values of purchases and sales, without needing to list invoice details.
How do I change my GST from monthly to quarterly?
Login to the GST Portal. Navigate to Services > Returns > Manage Return Profile (Trial) on the dashboard. Select the Financial Year. Then, click the CHANGE RETURN FREQUENCY button to change the return frequency.