Namastae and Shubh Deepawali Sir,
I have a small retail business. Monthly sales averaging 35 to 40 thousand since i started in 2016. Monthly purchase from distributors is around 35 thousand. As distributors supplied to only VAT registered retailers i had registered under Karnataka VAT.
Then, i was migrated to GST. Do i need to submit GSTR 3B and GSTR 1 ( do i need to file GST returns) ? I was told that if annual turnover is below then there is no need to file returns in GST.
Kindly clarify, Dhanyavaad
Are you registered under composition scheme?
If yes, then return has to be filed quarterly.
If you are registered as a normal tax payer then you have to file monthly returns. There is no turnover condition upto September 2017.
From October quarter, if you turnover is less than 1.5 crore then you need to file returns quarterly.
There is no exemptions for returns, you have to file.
Please note penalty for late filing of GST return is Rs. 200 for each day.
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