Tax payers upto Turnover of Rs 5 crores to file quarterly return, but pay taxes monthly.

In its meeting on 21st July 2018, the GST Council decided to allow quarterly return filing for businesses with turnover of up to Rs 5 crore.

This move will benefit 93 per cent of the GST registered taxpayers. They will have to, however, pay taxes monthly.

So far, businesses with turnover of up to Rs 1.5 crore were permitted to file returns quarterly.