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.auto-style1 { text-align: center; } [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Notification No. 84/2020 Central Tax New Delhi, the 10th November, 2020 G.S.R (E). In exercise of the powers conferred by proviso to sub-section (1) of section 39 read with proviso to sub-section (7) of section 39 of the Central
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FAQ :
The new rules primarily affect registered persons with an aggregate turnover of up to ₹5 crore in the preceding financial year who have opted to furnish their returns quarterly.
These rules are effective for furnishing returns from January 2021 onwards.
Registered persons opting for quarterly filing must have furnished their return for the preceding month, and once an option is chosen, they must continue with it for future periods unless revised.
If a registered person's aggregate turnover crosses ₹5 crore during a quarter, they will no longer be eligible for quarterly filing from the first month of the next quarter.
Yes, registered persons can change their default option electronically on the common portal between 5th December 2020 and 31st January 2021.
Registered persons with turnover up to ₹1.5 crore who have filed GSTR-1 quarterly will continue with quarterly returns. Those who have filed monthly will continue with monthly returns.
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