What is the Limit for Quarterly or Monthly GST Return?

If you're a business owner in India, you're likely familiar with the Goods and Services Tax (GST) and the importance of filing regular returns. Quarterly or monthly GST returns must be filed depending on the nature and size of your business.

For businesses with an annual turnover of less than 5 crore INR, monthly returns are not mandatory, and quarterly returns may be filed instead. However, if your business has an annual turnover of over 5 crore INR, monthly returns are mandatory.

Monthly GST returns must be filed by the 20th of each month, while quarterly returns are due on the 13th of the month following the end of the quarter (i.e., July-September returns are due by October 13th).

It's important to note that businesses registered under the composition scheme are required to file quarterly returns regardless of their annual turnover. Additionally, businesses registered under the GST must file annual returns by December 31st of the following year.

Failing to file regular returns or missing deadlines can result in penalties and interest charges. Therefore, it's essential to stay on top of your GST filings to avoid any unnecessary financial burden.

In conclusion, the limit for quarterly or monthly GST returns depends on your business's annual turnover. If your turnover is less than 5 crore INR, you may file quarterly returns, while businesses with a turnover over 5 crore INR must file monthly returns. Regardless of your turnover, it's crucial to file returns on time to avoid penalties and interest charges.