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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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