Thresholds & eligibility criteria of GST Return is turnover exceeded 1.5 Cr & due date of return
- Thresholds and eligibility criteria mentioned by the India Government is to boost up and benefit the small and medium enterprises (SME’S).
- These SME’S will contribute to country’s GDP and will help in eradicating the unemployment.
- The taxpayers whose aggregate turnover during preceding financial year exceeded Rs. 1.5 Cr or the new registrants who estimate their turnover to exceed Rs. 1.5 Cr during current financial year, have to file return on monthly basis.
- Taxpayers, whose aggregate turnover during the preceding financial year remained upto Rs. 1.5 Cr or the new registrants who estimate their turnover to remain upto Rs. 1.5 Cr during current financial year, but who intends to file return on monthly basis, can also upload the invoices for the month of August, 2017.
- All businesses to file GSTR-1 and GSTR-3B till March of FY
- GSTR-2 and GSTR-3 filing dates for July of FY to March of FY will be worked out later by a Committee of Officers
- Turnover under Rs 1.5 Cr to file quarterly GSTR-1
- All businesses to file GSTR-3B by 20th of next month till March of FY.
- Turnover above Rs 1.5 Cr to file monthly GSTR-1
Extension of GSTR-1 filing Due Dates
- Filing of GSTR-1 for the tax period of August and onwards is likely to commence soon. In the meantime, such taxpayers can upload the invoices for August, September, October to avoid last minute rush.
- All other taxpayers liable to file GSTR-1 shall upload the invoices and file GSTR-1 for the quarter ending September, 2017 after the option to file the same is available on the portal. The taxpayers eligible to file return on quarterly basis but have already filed the return for the month of July, shall have to upload the invoices of August and September jointly and have not to include the invoices of July month again.
- The taxpayers who have not filed GSTR-1 for the month of July, are advised to file the same quickly as they will not be able to file GSTR-1 for remainder of quarter (August-September) till they have filed GSTR-1 of July.
For turnover upto Rs 1.5 cr
Period (Quarterly) Due dates
July- Sept 31st Dec of FY
Oct- Dec 15th Feb of FY
Jan- Mar 30th April of FY
For turnover of more than Rs 1.5 cr
Period (Quarterly) Due dates
July to Oct 31st Dec of FY
Nov 10th Jan of FY
Dec 10th Feb of FY
Jan 10th March of FY
Feb 10th April of FY
March 10th May of FY
Others GSTR filing extensions
Type of assesses (Quarterly) Due dates
GSTR-5 (for Non Resident) 11th Dec of FY
GSTR-5A(By person supplying OIDAR) 15th Dec of FY
GSTR-4 (for Composition Dealers) 24th Dec of FY
GSTR-6 (for Input Service Distributor) 31st Dec of FY
Businesses with annual turnover up to 1.5 crores will submit quarterly returns. Taxes will be paid quarterly. Due dates of filing GSTR-3B for August to December – 20th of Next Monthly
In case you are confused about GST as a business owner, feel free to consult the GST experts at Rajput Jain & Associates,. You can get comprehensive assistance on GST Registration online and GST Return Filing. You can also use our GST compliance software for doing end-to-end GST compliance.
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