Chapter 10: Returns

Taxation for CA, CS, CMA Exams May - June 2019
GST for Exams

### Q5B

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### Transcript

Now Quarterly GSTR3B Returns if Turnover Upto 5 Crores EARLIER NOW Till Dec 2020 from 1 Jan 2021 Monthly GSTR3B Return If Turnover upto 5 Cr Quarterly GSTR3B Return or Monthly GSTR3B (as per Choice) GSTR3B DUE DATES If Turnover more than 5 Cr (In Last Year) If Turnover upto 5 Cr Diff Dates State Wise Type 1 Central, West and South India Type 2 North and East India 20th of Next Month If Monthly Scheme 22nd of next Month 24th of next Month If Quarterly Scheme 22nd of next Quarter 24th of next Quarter How is Challan to Be Paid in QRMP Scheme? QRMP =QUARTERLY RETURN MONTHLY PAYMENT GSTR Return to be filed Quarterly By 22/24th of Next Month Period GSTR3B Date Jan-Mar 22 April/24 April Challan is to be paid Monthly By 25th of Next Month for Month 1 and Month 2 Month Challan Date Jan 25-Feb Feb 25-Mar Mar GSTR3B Due Date (22 Apr/24 Apr How is Challan Amt Determined? Fixed Sum Method Self Assessment Method 35% of Tax of Last Quarter (If Last GSTR3B Quarterly) or 100% of Tax of Last Month (If Last GSTR3B Monthly) Normal Procedure of Calculating Input and Output (after checking GSTR2A) Challan Amount for First 2 Months (If Last GSTR3B Monthly) 100% of Tax of Last Month Example In Dec, we file GSTR3B Monthly Now we file GSTR3B Quarterly for Jan-Mar Dec Output 5000 Input 4000 GST Payable 1000 Tax to be Paid in Jan-Mar Jan 1000 Feb 1000 march (Actual Calculation) Jan-Mar Suppose, Output 10000 Suppose, Input 6000 GST Payable 4000 Less Chalan already paid Jan 1000 Feb 1000 Bal Challan in March 2000 Challan Amt for First 2 Months (If Last GSTR3B Quarterly) 35% of Tax of Last Quarter Jan-Mar Output 10000 Input 6000 GST Payable 4000 Tax to be Paid in Apr-June Apr 1400 (4000*35%) May 1400 (4000*35%) June (Actual Calculation) Apr-June Suppose, Output 12000 Suppose, Input 7000 GST Payable 5000 Less Challan already paid ANNUAL RETURN (GSTR9) DUE DATE To be filed by Next Year December end 2017-18 2018-19 2019-20 Due Date (Original) 31-Dec-18 31-Dec-19 31-Dec-20 Due Date (Extended) 05 Feb 2020 Or 07 Feb 2020 30-Jun-2020 28-Feb-2021 Not compulsory if Turnover upto 2 Crores