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 GSTR-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 on wards, 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.

Q.6 Till when can I avail the option of composition under the increased threshold?

The facility of availing composition under the increased threshold shall be available to both migrated and new taxpayers up to 31.03.2018. The option once exercised shall become operational from the first day of the month immediately succeeding the month in which the option to avail the composition scheme is exercised.

Q.7 How will I file returns if I avail the option of composition in the middle of a quarter?

New entrants to this scheme shall have to file return in Form GSTR-4 only for that portion of the quarter from when the scheme becomes operational and shall file return as a normal taxpayer for the preceding tax period.

Q.8. Am I eligible for composition if I am also providing a service which is exempted under GST?

Yes, persons who are otherwise eligible for availing the composition scheme and are providing any exempt service, shall be eligible for the composition scheme.

Q.9 is it correct that anyone who is receiving interest on a bank deposit is ineligible for availing the composition scheme?

No, persons who are otherwise eligible for  the composition scheme, and are receiving interest on a bank deposit shall be eligible for the composition scheme.

Q.10. My aggregate turnover is less than Rs. 20 lacs but I made some inter-state supply of services. Do I need to register under GST?

No, if your aggregate turnover is less than Rs. 20 lacs, you do not need to register just because you are making inter-state supply of goods.

More Under Goods and Services Tax

6 Comments

  1. R K RAJPUT says:

    I AM PROVIDING ACCOUNTING,TAXATION SERVICES, LOCAL AND INTERSTATE BOTH. MY RECEIPTS UP TO FY 1617 WERE LESS THAN 20 LAC P.A., IN THE YEAR 1718- I STILL NOT HOPE TO ACHIEVE GROSS RECEIPTS UP TO 20 LACS.

    DUE TO MY INTERSTATE SERVICES. I HAVE TAKEN GSTIN REGISTRATION IN SEPT 2017.

    CAN I SURRENDER MY GSTIN NOW. PLEASE ADVISE .

  2. A.K.BHARADWAJ says:

    I am a Mutual Fund Distributor. I am registered with GST although my turnover is less than threshold limit of 20 lakh on account of Interstate Supply. Now Govt has relaxed the Registration upto Rs 20 lakh including interstate supply. Now there will be no GST liability under RCM for Unregistered MFD till 31/03/2017. But being a Registered MFD I have to file Returns and pay the GST. Can I cancel my GST Registration, if yes when and how ?

  3. CA. C V SURYAM says:

    The effective date of applicability in case of inward supplies from un-registered persons is not told anywhere including notification no.38/2017(Central Tax) dt.13-10-17. Like that any of the notifications released on 13-10-17. Next in notification 38/2017, they missed out to mention the word “Rate” next to the number. So a big ? to all of us about the effective date of applicability. Had these notifications issued stating “in suppression of”, we may interpret that it is applicable from the date of original notification. Unnecessary disputes will come up and piling up of cases like in service tax.
    When HSN codes are in place under GST against Tariff Headings, why still same nomenclature is being continued to refer in the notifications issued so far?

  4. Prasad says:

    In Work Contracts, some goods would be purchased under 28% GST. Whereas it is told that Works Contracts come under Services which has only 18% GST. So How to Bill to the Customer. And in Work Contracts while Billing only SAC Code need to be written or both SAC & HSN Codes also need to be written in invoice or not necessary. Kindly clarify. Regards

    1. vaidhyanathan says:

      gst is payable on the gross bill amount and not breakup need to be given in the invoice.
      works contract is appliable only for civil work and not for any other work.
      only sac code can be given and not hsn code as the supply is deemed to be service

  5. Prasad says:

    In Work Contracts, some goods would be purchased under 28% GST. Whereas it is told that Works Contracts come under Services which has only 18% GST. Kindly clarify. Regards

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