What is GSTR 1? How to file it? Aster billing
For traders with turnover upto Rs 1.5 crore annually, GSTR-1 needs to be filed on quarterly basis while that for traders having turnover above that needs to be filed every month. The late fee for filing GSTR-1 is Rs 50 per day after the due date, and Rs 20, in case of nil returns.
Once GSTR-1 return is filed, a trader does not need to pay any tax immediately. The tax has to be paid at the time of filing GSTR-3B (until March 2018).
Composition dealers need not file GSTR-1. Such traders need to file GSTR-4 every quarter.
No comments:
Post a Comment