Quarterly Filing- QRMP Scheme
If you are opting QRMP scheme, you can use the IFF return (Invoice Furnishing Facility) to upload invoices for the first two months of a quarter. For each month, you can submit details of your outward supplies to a registered person till the 10th of the following month. For the last month, you will have to submit GSTR-1. Contact us for more info.
A taxpayer whose turnover is below Rs 1.5 crore can opt for Composition Scheme. The applicable rate for a composition dealer is 1% for manufacturers and traders of goods, 5% for the restaurants not serving alcohol, 6% for other service providers.
A composition dealer has no right to issue a tax invoice. The dealer has to issue a Bill of Supply instead of a Tax Invoice. The dealer should also mention “composition taxable person” at the top of the Bill of Supply. Contact us for more info.
GST Annual Return
GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. GSTR 9 is a statement regarding the outward and inward supplies made/received during the financial year. It is a consolidation of all the monthly/quarterly returns filed in that year. Contact us for more info.