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GST Returns: Monthly vs Quarterly
| Point of difference | Monthly | Quarterly (QRMP) |
| Applicability | Mandatory if Annual Aggregate Turnover (AATO) is more than ₹5 crores. | Can be opted if AATO is not more than ₹5 crores. |
| No. of returns to be filed | GSTR-1: 12 returns for 12 months
GSTR-3B: 12 returns for 12 months |
GSTR-1: 4 returns for 4 quarters
GSTR-3B: 4 returns for 4 quarters |
| Calculation & Payment of tax | Every month. | Every month. As the same suggests, Quarterly Return and Monthly Payments (QRMP). |
| Calculation | Actual basis. | a. Fixed sum method
b. Self-assessment method |
| Payment of tax | Paid with GSTR-3B itself. | Paid with PMT-06 for first 2 months of quarter. |
| Invoice Furnishing Facility (IFF) facility | Not required as details of outward supplies is given monthly in GSTR-1. | Can be used by registered persons so as to enable their buyers to avail ITC in the given month. |
| Due dates | GSTR-1: 11th day of following month.
GSTR-3B: 20th day of following month. |
GSTR-1: 13th day of following month after end of quarter.
GSTR-3B: 22nd (24th) day of following month after end of quarter. IFF: 13th day of following month for first 2 months of quarter. PMT-06: 25th day of following month for first 2 months of quarter. |
| Suitability | – B2B transactions;
– Dissimilar pattern of sales; – Highly unpredictable turnover. |
– B2C transactions;
– Similar pattern of sales; – Limited transactions. |
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